Post Recession Earnings Bounce Back Plan
The good news - the recession is ending and companies are starting to make more money. The bad news - you haven't had a pay raise in about two years and you are not sure when you might be getting one, despite the rebound.
Companies know that as soon as they have some financial success, employees are going to be looking for ways to increase their salary. Despite the recent economic turnarounds, however, companies have to be selective about who will receive a pay raise and who will have to wait a little longer.
A recent Hot Jobs column provides a few tips for preparing to ask for a raise. The key to negotiating more money right now is preparing your argument and showing your value to the company throughout the recession.
It's not enough to say that you worked longer hours. Most people worked longer hours to make up for the loss of employees due to layoffs. So you need to make correlations to how your worked contributed to the company either saving or making money.
This will not only show your value to the company in monetary value, but it will demonstrate your leadership skills and business acumen.
Asking for a raise can be difficult in the best of times, but when emerging from a recession, it is even tougher. Take the time to do an honest, fair assessment of your worth, and if you are truly worthy for a pay raise, go for it!
Posted by Don Boone on July 13, 2010 at 11:49 AM
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