Handle a wage review like a house appraisal
POSTED BY ANONYMOUS
Sunday, May 1, 2016
Handling a wage review is like having a career appraisal – therefore we need to look at it dispassionately, logically and based on performance against KPI’s.
What is your market value?
Call up a recruiter and look online and see what your position is getting paid – download our Salary Survey now to find out more! Look at the latest job-boards and see what employers are paying for similar roles. Please do not start looking for a new job because you decide your current employer isn’t paying you enough- discuss it with them! Give them an opportunity to address your concerns in a consultative, symbiotic manner. Recruitment and training new staff is a highly expensive, time-consuming exercise. And memories run long, especially in small industries. Make sure you do the right thing by your employer and give them and yourself an opportunity to air concerns in a non-aggressive, consultative, proactive manner.
Prepare for this meeting:
Walk into this meeting prepared with all your information.
Your current Pay-slip – what you know the others are paying in the industry for similar roles, what are your KPI’s and what are the competitions? Make a list of all your achievements and supra-contributions as well as your KPI achievement. What new business have your brought in? Are you a team player? Did you do something that sets you apart from the crowd? Why do you deserve this pay rise? Just because you’ve been there an extra year? Because the company did really well? Not good enough – tell them and show them how you contributed to this company future well-being and stability and growth.
What are your KPI’s?
Do you know what they are and how you’ve performed in relation to them? Do you have any form of regular, 2-way feedback with your reporting manager? If not, then ask for these so you know how your performance is going against these. Do not take a friendly manager marking you down for KPI’s not achieved personally – it’s not. They are reportable upwards and why should they carry your under-performance / mistakes – they didn’t make them. They are just doing their job – why are you not doing yours?
Discuss and assess:
Ask for another time to review again.
Essential Get it’s – Walkaway points. Start job-seeking
Negotiables: 50% - Put the employer on notice in your head – not verbally or in writing
Bells and whistles – Would be great if you could get these but a lot of the time they are a try on.
What NOT TO DO in a salary review meeting:
Don’t start job-seeking and waste everyone’s time – yours, your recruiters and the new companies.
Don’t use a job-offer as a way to negotiate with your current employer.
Don’t go into this meeting unprepared – this is your career, take control of it. End goal – running blind.
Don’t be angry / aggressive / threatening if you do not get what you want in this meeting – keep it professional and thank them for the review and then decide what you want to do after thinking it over for at least a week – NO HASTY JOB-SEEKING. Maybe there is some truth to what they said? May not. But these decisions are best made with a cool head. If at the end of the week you still want to start job-seeking, then call Medijobs and we shall be happy to help.
You might not like what you see – improve.Back