Getting Your Facts Straight For Salary Raise Negotiations

The experienced recruitment professionals at reputable companies, such as Mackenzie Jones Middle East, agree that the job market is picking up. You should then consider approaching your supervisor or manager for a salary review (read: salary increase).

But don't just approach your boss without an effective plan reinforced by tangible evidence on hand. Keep in mind that it is a touchy subject even during the best of times so being prepared with the facts is a must. When done right, fortunately, you can clinch the salary increase and walk out the winner from your boss' office.

Use Traditional and Digital Resources For Research

Do your homework - this is the first, and even the most important, step in getting a salary increase. When you have the facts about the industry salary average, among others, you have tangible evidence to back up your claims about your suitability for the salary raise.

You have so many resources on hand including:

# Salary search engines, which provide information about the salary levels for jobs, industries and regions

# Recruiters and headhunters in the industry, such as Mackenzie Jones

# Network of friends, co-workers and colleagues in similar positions

# Trade journals

Keep in mind that your company will have a different salary structure than its competitors. But with a benchmark on hand, you are more likely to push your agenda considering that your employer will want to keep you in the company. The importance of being an outstanding employee - or at least, an employee who delivers the goods - cannot be overemphasised as part of your effective plan in a salary increase.

Consider Other Benefits

Furthermore, you should consider other benefits (i.e., aside from the basic salary), such as insurance coverage, paid holiday leaves, and maternity or paternity leave, among others. Your dismissal of these benefits can undermine your success in asking for a salary increase.

Of course, the benefits package may be fixed for all employees within certain categories. You can concede on his point especially when you have been approved for the salary increase but there's no harm in broaching the subject. This is especially true when you have hard evidence to back up your request.

Talk About Your Individual Factors

You are selling yourself so it makes sense to talk about your individual factors - what makes you qualified for the salary increase, what the company has enjoyed from your years of service, and what notable achievements and particular qualifications you can bring to the table, among others.

Tips:

# Provide the exact amount of your total compensation package including the salary, benefits, and bonuses.

# Present your particular qualifications, notable achievements, and present projects that boost your worth as an employee.

# Renegotiate your pay based on these factors.

Indeed, you should always maintain documentation about your accomplishments since it can be used for applying to other companies, if and when you feel that the time to leave your present company is at hand.

 

[Dhruv Bindhani]

The text provides practical advice for employees looking to secure a salary increase, especially in a seemingly recovering job market, as suggested by recruitment professionals like those at Mackenzie Jones Middle East. The core message is to approach the negotiation with thorough preparation and tangible evidence, as salary discussions are sensitive.

Here's a breakdown of the key recommendations:

1. Do Your Research (Homework):
   
   • This is presented as the most crucial step.
   • Goal: Gather facts about industry salary averages for your role, industry, and region to benchmark your worth.
   • Resources:
     • Salary search engines.
     • Industry recruiters and headhunters (like Mackenzie Jones).
     • Professional network (friends, co-workers, colleagues in similar positions).
     • Trade journals.
   • Rationale: Having this benchmark helps you argue your case effectively, as your employer will likely want to retain an outstanding employee who knows their market value.
2. Highlight Your Value as an Outstanding Employee:
   
   • Beyond market rates, emphasize your individual performance. Being an employee who consistently "delivers the goods" is paramount.
3. Consider Other Benefits:
   
   • Don't solely focus on the basic salary.
   • Examples: Insurance coverage, paid holiday leaves, maternity/paternity leave, etc.
   • Importance: Dismissing these benefits can weaken your overall negotiation. Even if some benefits are fixed by company policy, it's worth broaching the subject if you have strong evidence to support your request for adjustments or consideration.
4. Talk About Your Individual Factors (Sell Yourself):
   
   • This is your opportunity to present your unique qualifications and contributions.
   • Key points to cover:
     • What makes you qualified for the increase.
     • The benefits the company has reaped from your service.
     • Your notable achievements and particular qualifications.
   • Tips:
     • Quantify: Provide the exact amount of your total compensation package (salary, benefits, bonuses).
     • Show Impact: Present specific qualifications, notable achievements, and current projects that clearly demonstrate your increased value to the company.
     • Renegotiate: Base your pay renegotiation on these concrete factors.

The article concludes with a practical "tip" to always maintain documentation of your accomplishments. This serves a dual purpose: not only is it vital for internal salary negotiations, but it also provides a ready portfolio should you decide to explore opportunities with other companies in the future.