According to research by recruitment website, www.Bayt.com, 44 percent of professionals did not receive a pay rise in 2012 – so for many Dubaians securing more cash is a pressing concern. It takes confidence to approach your boss and ask for a raise. Here www.Bayt.com’s vice-president of sales, Suhail Masri, shares ten tips on securing a pay rise.
1 Do your homework Planning and preparation are key to the success of any negotiation. Know the terrain and where you stand relative to your peers in the company, and salary standards in the industry.
2 Shout about your strengths Base your request for a raise on a set of objective criteria such as your recent performance. Be prepared to walk your boss through your recent successes and accomplishments, and gather all the right paperwork you need to support your cause.
3 Set out a concrete figure Never enter into a negotiation without being clear about your goal and without a supported set of objectives in sight. Define the exact raise you are aiming for and don’t be afraid to aim as high as you can, without being too unrealistic.
4 But give yourself leeway to manoeuvre Whatever raise you are aiming for, start the conversation with a figure well above that and be prepared to negotiate back to a figure closer to your minimum acceptable raise.
5 Be creative Benefits, bonuses and perks can account for a substantial component of total pay, so be creative in pre-determining the types of packages you are willing to accept.
6 Play mind games with your boss In order for your negotiations to be effective, realise that both you and your boss need to walk away from the table feeling you have won. Manipulate the situation to make sure your employer is aware of what the company is getting in return for the package that you are demanding.
7 Negotiate face-to-face There is no substitute for face-to-face discussions when seeking a pay rise, so avoid trying to have the discussion over the phone or worse, by email.
8 Listen Don’t feel pressurised to do all the talking, as this will only alienate your boss and probably lead you to making unnecessary concessions. Listen to what your boss has to say and make an effort to understand his or her point of view, and show that his or her input and opinions are valued and respected.
9 Turn on the charm Step up your skills here. Be polite, courteous and respectful at all times. This will disarm your boss and take you a lot further than an argumentative and confrontational posture.
10 Don’t get emotional Emotions have no place at the negotiating table. In a professional environment keep the tone professional, the arguments objective and the end goal clearly in sight. The minute you deviate from this path you run the risk of appearing like a high-maintenance employee, who could be replaced by someone who is lot calmer.
More tips Emma Miller, HR Manager at Dubizzle UAE, says:
11 Get market data to back up your justification.
12 Show initiative and take on more responsibility.
13 Ask yourself if you have helped the company make (or save) a substantial amount of money recently.
14 Be a true advocate of the company and demonstrate living the company’s values.
15 Exhibit your determination to succeed and make note of all your recent successes.
16 Pounce on company projects outside of your area.
17 Demonstrate your value to the organisation consistently.
18 Be an expert in your field and show your passion to grow your knowledge in your area of specialisation.
19 And of course, it never hurts to make your boss a cup of coffee every morning!