Not every company has an outlined procedure when it comes to providing employees with a raise. While some businesses tie increases in compensation to annual performance reviews, some seem to only increase a worker’s income at random, which can be frustrating if you have been in your role for some time and haven’t seen a pay bump.
But, even if there isn’t a formal policy for a raise, that doesn’t mean one is entirely out of your reach. There are things you can do to increase your odds of securing a raise. If you aren’t sure where to begin, here are five ideas to try.
1. Demonstrate Your Value
Managers are busy people. While they do their best to keep tabs on their workers’ performances, it doesn’t automatically occur to them that a raise may be justified.
Sometimes, managers need a little reminder, and that responsibility may fall squarely in your hands. If you’ve been excelling in your role, consider scheduling a meeting with your boss to go over your recent accomplishments. This helps demonstrate your value while also ensuring you stay on your manager’s radar.
2. Research Salaries
If you’re looking for a raise because you feel you’re underpaid, you should do some salary research before broaching the topic with your boss. Luckily, there are a variety of online resources that show what professionals working in your position typically make in your area, so dig in a bit and see if your salary actually falls outside the standard.
If so, this can be a starting point for a conversation with your manager, particularly if your skill set is in high demand.
3. Ask for More Responsibility
Getting involved in high-profile projects or asking your manager for additional responsibilities can help you forge a path to a raise. Granted, it may require doing more work as a means of being recognized, but it’s a move that can pay off.
4. Embrace Learning Opportunities
Ways of doing business evolve on a regular basis. New technologies or approaches may be developed that can streamline operations, and being open to learning about these advances can help you stand out from the pack.
If you get the chance to learn a new skill or system, whether on the job or on your own, embrace it. As your skill set increases, you end up with more to offer your employer, and that can help you get a raise.
5. Consider a New Job
In some cases, your current employer won’t be open to increasing your pay, no matter what you do. When that happens, you may need to find a new position as a means of getting a raise.
While this can sound intimidating on the surface, it isn’t uncommon for professionals to look for outside opportunities as a means of advancing their career. If you feel like you’ve hit a dead-end, it may be time to see what else may be available.
If you are interested in finding a new job, the professionals at The Advance Group can connect you with some of the area’s leading employers. Contact us to speak with one of our skilled recruiters today and see how our services can help you take the next step forward in your career.