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So You Want a Raise?

How great are you!  You are doing a good job and you are working hard so now you think you deserve a raise….. good luck!  I remember having a Handful of Paper Moneyconversation with someone once who was being told they were not performing and that they needed to either deliver according to their job description or be terminated – their response was – “well I have been here 6 months and I want a raise” – SAY WHAT?!  Quite honestly, I would have loved to have been a fly on the wall so that I could have seen the expression on my own face!  Talk about a disconnect!

We had an employee who was offered a permanent job after having worked as a temp for quite a while.  Their response was – “I will take the job but I want a raise of $3/hour.”  When the client asked why, the employee said “I should get a raise because I have student loans” (huh?).  Result – no raise – NO job!

The other day I was having lunch with a lovely former client who is doing fabulously in their new position.  They have taken on additional responsibility without being asked because they saw a need to add value to the organization and they felt they could really resolve major issues with this particular functional area.  While we were chatting, my friend said they were going to ask for a raise at the end of the year.  I thought that this was very fair.  What I realized though, was this person did not know to add why they deserved a raise; they expected their boss to understand the extra effort they had made and grant the raise.  While this is perfectly understandable, I think this individual is putting too much faith in the fact that their boss will understand why they should be given a raise.  I think this strategy is a bit risky.  What if the boss does not understand the real value of what they have been doing?  I think a better way is for my friend to keep track of what changes they have made and how their taking on the additional responsibility has positively impacted the company’s financials.  I told them that they needed to quantify in real numbers, their success and then explain to the boss prior to asking for the raise.

These days, companies are rethinking annual performance raises and bonuses, and they are focusing more and more on the value an individual brings. Make sure you have a good, solid, results based reason for asking for a raise.

Happy hunting!

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