Lots of employees often find salary negotiations as intimidating and job threatening. However, the truth is that for anyone to have a successful and satisfying career, salary negotiating is absolutely necessary. The negotiation skill helps you advance your career. Just as you know and understand the basic rudiments of your job, your job role and description, you also need to be brave and learn how to negotiate your salaries as a professional.
Here are some essential steps to help you negotiate professionally.
• Do Background Research First✓
When you decide to negotiate salaries, embark on background research first. Discover your market rate and what other organizations pay their employees who are in the same position as you. Also, include from varieties of sources the various benefits and perks given to them. Find out the cost of living, housing and transportation in your area too. Try also to discover your career path and how it affects what your pay should be. After this information has been sorted, compile them and decide on the new salary to propose to your employer.
•Consider your Timing✓
Anyone with excellent negotiation skills understands that in negotiation, timing is everything. Usually, job candidates do their negotiation after they receive an initial job offer. For an employee, it is often tricky to determine the appropriate time. However, it is often ideal to ask for a salary raise after you have completed a successful project. It isn’t advisable to bring up salary matters at a time when the company is struggling or when you failed to deliver on the expected result. While approaching your manager for negotiation, ensure it’s a one-on-one meeting and not in the open.
•Promote Your Accomplishments✓
Today, employers are willing to retain their talented and valuable employees to the degree they can. It gives you something to leverage on if only you can prove how important and valuable you are to the company. Your employer will not always be aware of your valuable contributions, so ensure you bring all your achievements to light by preparing a list of your successful projects (business case).
When properly done, the document helps you make a strong case during any negotiation. Your employer will go to any length to keep you satisfied if they notice how valuable you are.
•Communicate your request clearly and confidently✓
When you go to negotiate salaries with your employer, remember that displaying a reasonable amount of confidence during the discussion is important. Don’t appear like you are making a demand. However, put in a display that shows that it’s a strong request. Speak of your latest achievement in the company.
Again, highlight the unique skills and services you offer. Tell your employer the need for a raise. Propose the number you have decided to start with and expect a back and front negotiation. You will finally land on a figure which will be suitable for you.