Proven Strategies for Negotiating a Salary Increment
With the cost of living rising yearly, life is fast becoming expensive across the world with resources depleting at a higher rate. If you intend to work for other people after your graduation, you need to arm yourself with negotiation skills that will enable you to secure a pay raise that will enable you to take care of your needs. Therefore, this post shares out strategies that will help you to get the best from the negotiation table.
Know When to Ask
The first thing you need to know about the art of negotiation a salary raise is timing. It is not enough to have a noble idea you want to float to your employers, no. It is also necessary to learn the best timing when to float it. This may vary depending on the type of institution you will be working for, its size, and its policies. For instance, some companies have a fixed annual or bi-annual increment percentage. Others are individual-owned firms where one or two individuals make decisions. Depending on all these factors, you need to know when to approach your boss for an increment. For instance, it would be unwise to ask for an increment when the company is facing tough financial time.
Don’t Commit to Offers Too Early
All negotiations involve offers and counter offers, and these two extremes make them sweeter. Therefore, you have to learn how to delay your decline or acceptance of a counteroffer from your employer. You ought to be tactful when dealing with such offers since they may not be final. Remember, some bosses are just mean, and they would enjoy giving you the least offer. Just like a mean buyer, you ought to be slow in accepting the offer since there could be something more behind the scene. So, it is always prudent to tell them you are grateful for offer but you need more time to think about it.
Approach It as a Duet, Not a Duel
Also, it is necessary to have the right attitude towards the negotiations. It is needful to understand that your boss is not an opponent you are fighting. Instead, you should see your employer as the coach and yourself as a player on the same team. When you see things this way, the process stops being a duel where you want to “pin them down” to extract from them the best you can. Instead, you have to see it as a duet where your increment will directly benefit the company owing to increased motivation and productivity.
Demonstrate Proof
Do you want to reap the best out of your negotiations? Then you have to demonstrate to your employer that you merit the increment. Therefore, it is prudent to prove to them that you are an asset they cannot easily dispose of without rocking their boat. For instance, if you are multi-skilled, show that with a raft of achievements you have made for the organization. For example, you can cite that last year you set up a system that improved the way the organization deals with its suppliers leading to increased efficiency and key supplier satisfaction. Whatever the achievement, make sure you showcase it for the company to see your real worth to it.
Widen Your Net
When negotiating, you need to cast your net wider and incorporate other elements beyond your salary. The reason is that your employer may not consent to all your salary demands but could still be willing to look into other perks and benefits such as commuter allowances, increased vacation times, and flexible work hours.
Be Precise with Your Figures
Lastly, it is prudent to face your employer with a definite figure of what you want them to give you. For instance, be specific and let them know that you want an increment from $70,000 per annum to $80,000. This way, you show them that you have done your homework well.
We hope that these insights have opened your eyes to how you need to face your future employers when you join the marketplace. In the meantime, our term paper online and other services are still available for your benefit. Contact us now.
