No matter how friendly and welcoming your workplace is, it is still a business that needs to make money however they can. In many industries, an employee will never get a raise unless they ask for it and negotiate their terms. However, firmly negotiating with superiors can be stressful, so how can you swing better benefits confidently?
Healthy Work Relationships
Let’s first talk about why negotiating at work is healthy. Raises and other perks help employees feel heard and appreciated at work, but bosses can often low ball these raises. Thus, it is essential for employees to negotiate a better raise so they can feel appreciated and well compensated at their workplace. If an employee constantly feels unappreciated, it can cause resentment, a dislike of the work environment, and lack of productivity.
One of the best benefits of negotiating is, of course, the raises with cold hard cash. While money is certainly an incentive, there are many other business perks that can be negotiated. This can include more vacation days, a better title, work from home days, and hiring bonuses if the worker is still in the process of being considered by the company. These perks can make the career more enjoyable as well as help with the employee’s career.
Having the right timing is a huge factor in successfully negotiating with the boss. The best time to negotiate raises and perks is while still in the hiring process, but seasoned workers can still get some benefits. Schedule a time to discuss the possible promotion and increased benefits at least six months before the annual review so the company will still have plenty of time to add raises to the next years budget.
While on the topic of budgets, experts say employees should always press for a raise, even if the boss claims its not in the budget. The boss’s job is to trim fat where ever possible, and budgetary problems with raises are usually a handy white lie. Press hard on getting a raise, because as they say, “the squeaky wheel gets the grease.”
In addition, workers should make sure to provide reasons for their raise or increased benefits so the boss can justify it to the company. This can include increased responsibility, having more industry experience than when the employee was hired, or even things like changing industry standards or the yearly effects of inflation on salaries.
Negotiating raises and other benefits at work is essential to employees feeling valued and having healthy relationships to their work. Negotiating raises is a huge factor in a healthy business relationship with your boss.