Appraisals and Salary review meetings are not less than a nightmare. Even if you are a gold miner of your company, these meetings haunt you. For the reason, that you will need to do a lot of efforts to prove your worth. Thanks to the organizational culture. However, if you go prepared like a warrior, you will win the battle. Finding growth in your current workplace is easier than hunting for a new one.
Here are few steps to ensure that you get a good salary hike
Timing: While asking for a hike, the most important point to consider is the timing. If the company is doing good with people, making good money, then it’s the right time. Choose the time wisely so that you do not get to hear a “No”.
Tip: Involve in conversation with your boss and seniors to know the progress of the company revenues. We also suggest looking for the mood of your boss.
The way of Asking: Preparing for an appraisal interview is as important as a job interview. The way you will ask for it, consequently decides a lot in the first place. Prepare to clearly establish your expected hike. First, jot down points to explain why you deserve the hike and then prepare for the conversation. Assess your performance prior to the appraisal by gathering all the facts and figures.
Tip: Do a mock interview round with your friend and think of counter questions. Prepare all answers in advance.
Research: We all consider our worth to be high, however, it is important to know some facts and figures. Do a market research before you set up an expectation for yourself. Also, check on Glassdoor for salaries of people working in same experience and job group. Similarly, you can also check the offered salary on the competitor’s job portals.
Tip: Do homework on how market offers to other in the same position. Look at salary surveys, trade magazines and job portals.
“I will Quit”: The most perilous statement in the life of an employee. We as recruiters will strongly suggest you to never threaten with quitting or resigning statements. Certainly, such statements kill the chance of getting good hikes positively. In some cases, your boss may think of giving you hike after this statement, but that will have a bad impact later. Which includes friction in the team and unrealistically high expectations in results.
Tip: Quitting for appraisal will never go in your favour until you have a second option in hand. Manage the conversation to win hike and not lose the job.
Invest in your career: Usually, companies offer training programs for skill upgradation. For example, DATA Inc provides training to our Software Development team and Recruiters. However, if your company is not offering you a training, do it yourself. Upgrade your skills by undergoing some reputed training courses related to your skillset. This will help you prove your enhanced knowledge for a project which requires more skills. Above all, if a company is giving you a good hike, they will expect better results from you.
Tip: In the appraisal, you can also ask the company to pay for your training program as an added benefit. Since you have already done the training and you can demonstrate its benefits, the company should be ready to pay for it.
Furthermore, if your appraisal meeting is coming soon, follow these steps to prepare yourself for the big day. If you do not get the appraisal as you thought, do not get disheartened. Prepare yourself for better challenges and results. If you are planning to switch your job, we must have a role for you. Share your resume at email@example.com or look at open positions with our clients.