For many professionals, starting the new year with a raise would be ideal. While some companies may automatically offer pay increases after conducting annual reviews, others may not. However, regardless of whether raises are common during the latter part of the year, it’s critical to set yourself up for success.
If you aren’t sure where to begin, here’s what you need to do if you want a pay bump to start the new year.
Review Your New Hire Paperwork
Whether you’re just starting in a position or have been with the same employer for years, your new hire paperwork may give you insights into the company’s raise structure. For some organizations, the salary increase process is well-defined and provided to every employee. As a result, it’s best to review this documentation to see if there are details you need to know.
Additionally, if you’re considering a new job, you can ask about raise structures when you receive your initial offer. That lets you know if the company has formal guidelines in place or if each request is examined on a case-by-case basis.
Consider Your Tenure and the Time Since Your Last Raise
In many cases, the longer your tenure, the better your position when asking for a raise. Many companies want to reward longevity and use pay increases to boost retention among employees whom they’ve grown to value and trust over the long term. If you’ve been with your employer for years, you’ll usually have a better chance of succeeding.
However, regardless of your tenure, you need to factor in how much time has passed since your last raise. While companies aren’t required to wait a minimum amount of time before adjusting an employee’s compensation again, the more recent a salary increase happened, the harder it may be to secure one for the start of the new year.
Figure out how long you’ve been with the company, as well as when your last raise occurred. If you’ve been with the organization for several years and your most recent increase was more than a year ago, then you’re likely in a good position.
Honestly Assess Your Performance
The quality of your performance is typically the biggest factor when it comes to getting a raise. If you’ve consistently exceeded expectations with all of your responsibilities, your chances are better than if you’ve fallen short, even in just one area. As a result, you need to honestly assess your performance based on the hiring manager’s expectations to ensure you’re work quality and productivity make a pay increase a justifiable request.
Additionally, consider your attitude at work. Even if you’ve exceeded expectations when it comes to your deliverables, a poor mentality or negativity may make you a poor candidate for a raise, particularly if it creates hardships for others. If you want a pay increase, make sure you maintain a positive attitude, even during challenging times.
Factor in Your Attendance
Finally, you need to consider your attendance. Frequent unexpected absences that were within your control or regular tardiness may make you ineligible for a raise even if you’re otherwise meeting or exceeding expectations.
Consider how many times you missed work or were late for questionable reasons during the past year, as more than one or two incidents may make waiting to request a raise a better option. Then, you can work to improve your attendance record over the next six months, increasing your odds of success down the road.
Contact The Advance Group Today
If you’d like to learn more about requesting a raise or would like to find a job with better compensation, The Advance Group wants to hear from you. Contact us today.