John McKee, a certified business and executive coach and author of 21 Ways Women in Management Shoot Themselves in the Foot, who has received, denied, and granted literally thousands of pay raise requests throughout his management career, offers these potentially profitable insights:
For those employed in companies with policies regarding wage reviews, the first thing to do is to find out how frequently wage reviews are supposed to occur. In most large companies, it will be an annual activity, with the HR department providing supervisors with guidelines for how to appraise individuals and for what type of increases are appropriate based on how the employee is rated for performance, attitude, and potential growth on the job in the future. If you are involved in this type of organization, you should take advantage of the formality and regularity of the wage/performance review annual event by preparing a self-assessment of your own job performance. This self-appraisal should be honest — if you have areas that could be better, you should say exactly what, and how, you intend to improve, including recommendations for any additional training that could enhance your performance. It is also important that you note any and all accomplishments along with specific measurements and dates in case the boss might overlook or forget about those highlights.
Many companies - particularly small or new ones - will not have formalized policies regarding annual assessments and/or pay raises. This can be both good and bad. It's great if the company is led by someone who is enlightened and recognizes individual contributions, and rewards or compensates employees accordingly. However, those who are not lucky enough to have such intuitive bosses and feel that they are not making the kind of money they should be should request a meeting with the boss to specifically discuss performance and commensurate compensation. It is important not to get overzealous and storm in to the boss's office demanding a raise (as empowering as that fantasy is) because doing so will put the boss in a defensive mode that is not conducive to a positive outcome. Simply tell the boss you would like to discuss the subject, and ask when it would be convenient for him or her to do so. Then, prepare! Before the meeting you should have a complete record of what and how you've done since the last raise, wherever possible citing specific metric results related thereto, with dates, to show that your merit is not subjective, but rather based on performance fact.
While some might feel that this next piece of advice is counterproductive, I recommend that you offer to give your self-assessment to your boss before the meeting, so that he or she can understand your point of view and prepare accordingly. By no means is this telling the enemy your strategy, rendering your defeat inevitable. Rather, I believe that in any negotiation - and this is a real negotiation for you - it is best to lay out your cards in an honest and forthright manner. If the boss wants to keep you happy and on staff, your information will help him or her understand your value in undeniable terms. If, on the other hand, the boss has no intention of rewarding you in a manner that you feel is fair and appropriate, he or she will always find a way to justify that decision. So, providing the boss with your input prior to meeting will only make it easier to find out the ultimate, final outcome — and then you can make an educated decision regarding your future with that company.
About the Author
John McKee, founder and president of BusinessSuccessCoach.net, is the author of Career Wisdom - 101 Proven Strategies to Ensure Workplace Success and 21 Ways Women in Management Shoot Themselves in the Foot. He can be reached at 720-226-9072, john@businesssuccesscoach.net, or through his websites at www.BusinessSuccessCoach.net and www.BusinessWomanWeb.com.
