Tips For Negotiating a Pay Rise 

Covid-19 has significantly changed the landscape and structure of Australia’s workforce. A combination of historically low unemployment rates and The Great Resignation is going to create many challenges for Australian businesses in 2022.

Since the balance of power has shifted from employer to the employee in recent months as the worst of the covid-19 pandemic now appears to be behind us many are financial experts are predicting that there will be a huge increase in wages across the country over the next 12 months.

Here are some tips for employees who are wanting to negotiate a pay rise.

Differentiate Yourself from Other Employees

If you are successfully wanting to obtain a pay rise your employer is going to have to share the belief in your value, not only to the broader market, but also to their organisation. This means that you must do your best to differentiate yourself from others by identifying what makes you unique as an employee.

The most important thing is to show that you’re a specialist, because if you are a commodity, you are ultimately replaceable.

It would be wise to consider building a business case for your proposed pay increase, listing what skills you have those others in your company or team maybe don’t. Then detail how these skills help the company make or save money.

Do Some Research to Prepare Yourself

If you fail to prepare you are ultimately preparing to fail. As with any negotiation, it is vital to come well prepared. If you are going to be asking your employer to pay you more, it’s important to know your value and what you are worth in the marketplace.

To make your case stronger take the time to look into salary surveys for your industry most big recruitment firms will have them on their websites and identify what you could earn elsewhere.

You can use this information to obtain an equitable pay structure for your current role. However, it is important not to use this information as a threat to leave, if you do your employer won’t react well to that. It's much better to point it out gently, and premise it with the fact that you don’t intend to leave.

As an employee you are in charge of your own career. Think strategically about your next move, even it that move is to stay with your current employer for now.

Be Prepared to Undertake Some Extra Responsibility

One major factor to consider when trying to negotiate is that negotiation is a two-way process, and both parties need to see value in order to accomplish a successful outcome.

When negotiating for a pay rise, be prepared for your employer to ask you to take on extra responsibilities or tasks in your role. They are more likely to see value if there is something you can do in addition to what your current role requires of you.

It may be that you are already doing these, so do an analysis of your current job description and decipher whether there are tasks that you do that are outside of what is described. Make sure to mention these in your conversation.

However, keep in mind this is a fine line to tread. You don’t want to take on twice the workload for a minimal pay rise. Most employers will be reasonable in their expectations, and if they aren’t then maybe it’s time to look elsewhere anyway.

There’s no doubt the next few months are going to be a great time to negotiate a better deal for yourself at work, and your employer is likely to be aware of this. If you conduct the negotiation in a thoughtful and respectful way, rather than issuing an ultimatum, your boss is much more likely to grant your wishes.

They are also likely to have a lot more respect for you, and be impressed with the professional way you have handled the request.

Creating a win-win situation that both parties are happy with is by far the best outcome for all concerned.

Furthermore, don’t be shy in asking. It’s not unreasonable in the current job market to approach this subject, especially if you make an effort to do so in a way that is thoughtful extremely well-structured.

Tips For Negotiating a Pay Rise