So heres the thing, my job at the end of the day is to ignite and spark your potential so you can be successful in your career!
I do this by raising the quality of the conversations YOU are having.
In this video, the high quality conversation we are going to be having is all about how to ask for a raise!! Who dosen’t get excited about having more money in their pocket?
Step 1: Think about your WHY?
This is very important! Not many people think about this, they just skip to “I want more money”. However, your confidence, voice and passion will shine through more when you think about your DRIVERS and MOTIVATORS.
Think big picture!
What are your personal whys?
-Do you want to help pay for your kids education?
-Take your spouse on a well deserved trip?
-Buy a new house?
-Pay off your student debt?
-Maybe you live in Vancouver (mega $$)
(**Tip: Keep your PERSONAL WHYS to yourself, they should fuel you but we need to remember to keep WORK and PERSONAL separate**)
Also, think about your professional whys:
-Have you been getting great feedback?
-Do you feel connected to the businesses purpose and mission and want to be with them long term?
Step 2: Journal what VALUE you’ve brought to the COMPANY
Pull out a journal or notebook and think BACK over the last 6-12 months. Where have you made the company money, saved the company money or made peoples life easier? What processes have you established? Where did you create efficiencies?
Focus on your RESULT, not ACTIVITY. For example, you saved the company $15k by catching benefit invoicing errors, NOT you responded to emails. Think: what IMPACT did your actions have no matter how BIG or SMALL.
Step 3: Strategize forward
REMEMBER: business’s operate to help solve BIG CHALLENGES. Smart people are INSTRUMENTAL in helping companies solve those challenges.
So think to yourself:
-What are the businesses goals?
-Where is the company heading?
-How do you plan to help them get their goals?
Now, create action plans on those goals
Remember: We ALWAYS GET MORE OF WHAT WE WANT WHEN WE CAN HELP SOMEONE GET MORE OF WHAT THEY WANT.
Step 4: RESEARCH
What are others being paid in the same industry? You can use free online sources as much as possible. Try to consider the company’s size, revenue, industry as well.
Step 5: COMMUNICATE
Set a meeting with your boss. Start off with reiterating your gratitude for being apart of the team and company. Really reinforce how excited you are about the companies bright future as well. Say you have reflected about the value you have brought to the company and you remain committed to further contributing to the company and that you would like to propose an increase to your salary. From here, I really recommend you state a % rather than a dollar figure for the increase as in their mind will not instantly think about what could be bought with that dollar figure amount (as humans naturally do when a number is thrown at us).
Finally, give your boss some time for them to digest it and then follow up!
You’ve got this. Reach out if you need any help.
PS HERE is our YouTube video that explains this all. Enjoy!