Who else knows the best way to get a pay rise?

<h1>Who else knows the best way to get a pay rise?</h1>Author: <a title="Kate Sullivan" href="http://www.articlesbase.com/authors/kate-sullivan/171426.htm">Kate Sullivan</a>   Your salary review is coming up and you want to negotiate the highest raise possible. What can you do to ensure the outcome is in your favour?   A. There are four steps in approaching the salary review:   1. Familiarise yourself with your company's salary policy; 2. Benchmark your current salary in the industry; 3. Quantify your value to your company; 4. Negotiate against objectives.   Step 1: Familiarise yourself with your company's salary policy   Most large companies have jobs defined within given salary scales and are unable to go beyond a certain range. It is worth finding out what these ranges are so you know your scope.   Step 2: Benchmark your current salary in the industry   What is reasonable? If you were to leave, what salary could you command? This can be done by checking salary surveys in your discipline and speaking with colleagues and recruiters who are specialised in your area. You can also benchmark typical secondary benefits, such as company car, educational incentives, flexible working hours, pension plans and healthcare arrangements.   Step 3: Quantify your value to your company   This is far easier in some professions such as sales, however knowing where you have added value is important. Here are some questions to consider: What is your contribution to the company's growth in sales? (Quantify: identifying new or improving existing markets, products, pricing, distribution channels; improving company reputation or market visibility).   OR   Have you saved the company money? lf so, how much? Quantify: staff retention (saving recruitment costs), managing a better deal with suppliers, streamlining processes, identifying new markets, reducing customer complaints or minimising product recalls.   OR   What were your KPls (Key Performance Indicators for 2OO8? How did you perform against these? How would you quantify this?   Step 4: Negotiate against objectives   Salaries are usually raised each year in line with inflation (about 4 percent). For you to negotiate a greater increase, you need to highlight your value to the company and why you are worth more. Keep the discussion positive and remember these are all business decisions and not personal. Do keep in mind there is more to a company than salary. Consider how much you enjoy your <a href="http://www.oconnell.eu" target="_blank">job</a>, the growth opportunities within your company the work culture and your colleagues.   Looking to the future If you are not getting what you would like, ask your employer what you would need to do in order to gain an x –percent raise in 2010. Negotiate it now, achieve the goal and realise your true potential.  About the Author: Kate works for O'Connell Marketing Recruitment, an international recruitment firm specialising in Marketing, Communications and Public Relations jobs in Europe <a href="http://www.oconnell.eu" target="_blank">www.oconnell.eu</a>

Article Source: <a href="http://www.articlesbase.com/">ArticlesBase.com</a> - <a href="http://www.articlesbase.com/careers-articles/who-else-knows-the-best-way-to-get-a-pay-rise-1056124.html" title="Who else knows the best way to get a pay rise?">Who else knows the best way to get a pay rise?</a>

Your salary review is coming up and you want to negotiate the highest raise possible. What can you do to ensure the outcome is in your favour?

A. There are four steps in approaching the salary review:

1. Familiarise yourself with your company's salary policy;

2. Benchmark your current salary in the industry;

3. Quantify your value to your company;

4. Negotiate against objectives.

Step 1: Familiarise yourself with your company's salary policy

Most large companies have jobs defined within given salary scales and are unable to go beyond a certain range. It is worth finding out what these ranges are so you know your scope.

Step 2: Benchmark your current salary in the industry

What is reasonable? If you were to leave, what salary could you command? This can be done by checking salary surveys in your discipline and speaking with colleagues and recruiters who are specialised in your area. You can also benchmark typical secondary benefits, such as company car, educational incentives, flexible working hours, pension plans and healthcare arrangements.

Step 3: Quantify your value to your company

This is far easier in some professions such as sales, however knowing where you have added value is important. Here are some questions to consider: What is your contribution to the company's growth in sales? (Quantify: identifying new or improving existing markets, products, pricing, distribution channels; improving company reputation or market visibility).

Have you saved the company money? lf so, how much?

Quantify: staff retention (saving recruitment costs), managing a better deal with suppliers, streamlining processes, identifying new markets, reducing customer complaints or minimising product recalls.

What were your KPls (Key Performance Indicators for 2OO8? How did you perform against these? How would you quantify this?

Step 4: Negotiate against objectives

Salaries are usually raised each year in line with inflation (about 4 percent). For you to negotiate a greater increase, you need to highlight your value to the company and why you are worth more. Keep the discussion positive and remember these are all business decisions and not personal. Do keep in mind there is more to a company than salary. Consider how much you enjoy your job, the growth opportunities within your company the work culture and your colleagues.

Looking to the future

If you are not getting what you would like, ask your employer what you would need to do in order to gain an x –percent raise in 2010. Negotiate it now, achieve the goal and realise your true potential.

Kate works for O'Connell Marketing Recruitment, an international recruitment firm specialising in Marketing, Communications and Public Relations jobs in Europe www.oconnell.eu

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Article Tags: Tips, Pay, Salary, Job, Employment, Increase, Wage, Payrise, Asking For A Payrise

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