Monday, April 29, 2013

Stop Saying Stupid Stuff 7: When Asking for a Raise

Asking for a raiseThis continues our series to help you stop saying stupid stuff that can stall your career

Rhonda worked for a small company of 12 employees. Her boss was the owner. The owner did not outline a prescribed process or schedule for salary raises. After working at the company for two years, Rhonda asked for a raise. She worked with her husband for two weeks perfecting all the reasons she needed the raise. She outlined that expenses had increased over the last two years. She described how they could not pay their bills and how they needed more money to keep their family in financial order.

Describing Why You Need a Raise is Stupid

You may work for a company that has a regulated policy for awarding salary raises. You may be part of the increasing majority of people who work for small companies that do not have policies for raises. Whether your company has a policy for raises or not. You will need to make a case for receiving a raise. What you say will determine the size of the raise you receive.

Some people say stupid stuff by describing why they need the raise instead of why they deserve the raise. They list several reasons they need it:

  • “Our family has grown since my last raise. It costs more to provide for our family.”
  • “The price of gasoline has increased my commuting costs. I need a raise to cover the difference.”
  • “My spouse lost their job. We need extra money to cover the loss of income.”

Describing Why You Deserve a Raise is Smart

Describe why you deserve a raise. For example:

  • Give your supervisor a home run statement each month outlining how you
    • Increased productivity, sales, revenues, or profits
    • Decreased overhead, expenses, or costs
  • Review your home run statements at the beginning of your raise meeting
    • Share the total of how much you made or saved the company
    • Ask how much of a raise that would be worth
  • Negotiate based on your return on investment

Wednesday we highlight how to avoid saying stupid stuff on performance appraisals forms

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