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What to Do if You're Owed a Raise

Consider when to ask for a raise

Right now, it may not be appropriate to ask for a raise. There’s so much uncertainty and worry at this time. Employers are trying to find a way to keep people.

However, if your employer has been relatively unharmed by the pandemic and associated economic uncertainty, and they are not making any cuts or facing financial risk, it might be okay to raise the topic. It would be better to wait just a little bit longer and ask for a raise a bit later in the year.

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What to Do if You're Owed a Raise

What to Do if You're Owed a Raise

https://twocents.lifehacker.com/what-to-do-if-youre-owed-a-raise-1843738166

twocents.lifehacker.com

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Key Ideas

Appropriateness of a raise

Since the pandemic, those who have retained their jobs have been putting time and energy into their work and learned new skills.

But, they may have missed the annual performance review due to lockdown. They may wonder if they can ask for a raise or if it is even appropriate during a pandemic.

Consider when to ask for a raise

Right now, it may not be appropriate to ask for a raise. There’s so much uncertainty and worry at this time. Employers are trying to find a way to keep people.

However, if your employer has been relatively unharmed by the pandemic and associated economic uncertainty, and they are not making any cuts or facing financial risk, it might be okay to raise the topic. It would be better to wait just a little bit longer and ask for a raise a bit later in the year.

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The right time to ask
  • How is the financial health of the company? If the company is not doing well, this is not the time to ask for a raise. 
  • How is your manager’s workload? If your manag...
Get salary trends

Every job has a market value. 

  • Compare what you’re currently being paid to the trends you find.

  • Consider your education, years of experience, years you’ve worked for your current employer and any specialized skills or attributes you bring to the table. 

  • Make a list of your accomplishments, taking note of which ones added the most value to the organization

  • Identify a salary range or percentage increase in pay that you’d be happy with. 

Set a meeting

Meet in person and in private. 

You should approach asking for a raise with the same level of seriousness you would have for a job interview or an important presentation, and you should dress accordingly. 

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Take on more responsibility
Command the tasks and responsibilities in your current role, then start solving the problems that your soon-to-be self would be working on.
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Proactively communicate wins

Consistently exceed expectations in terms of your current role and job responsibilities. Take on more than expected, and manage these projects as well as your more senior colleagues.

Share your accomplishments early and often.

Demonstrate your accomplishments
  • Demonstrate that you have taken on additional responsibilities and provide specific details about your accomplishments. 
  • Share examples of projects you have completed and how they’ve positively impacted the business. Was there an increase in revenue? Did you save a customer? 
  • If you’ve received positive feedback from colleagues or other leaders regarding your work, be prepared to share that with your manager as well. 
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A raise
... is a recognition that you’re now contributing at a higher level than when your salary was last set. 

A raise isn’t a favor or a gift; it’s a way for employers to pay fair market valu...

It’s normal to ask

It’s not greedy or entitled to ask for a raise.  Unless you work somewhere truly dysfunctional, it’s understood that you work for money. This is okay.

  • you’re not asking for an amount that’s wildly out of sync with the market for your work, and 
  • you have a track record of strong work.
Be emotionally intelligent about your timing

You shouldn’t ask to talk about your salary when your manager is especially harried or having a bad day or nervous about impending budget cuts. 

On the other hand, if you’ve just saved the day with an important client or garnered rave reviews for a high-profile project, or if your boss has seemed particularly pleased with you lately, now might be a particularly good time to make the request.

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What Are the Pros of Incentives?
  1. Having a good salary and benefits package is great, but having extra incentives for a job well done makes workers feel appreciated. That decreases turnover and increases profits.
What Are the Cons of Incentives?
  1. Create conflict: those who don’t receive incentives may be jealous of those who do regardless of merit. Those who receive incentives might also be upset if they worked harder than others to get the same reward.
  2. The focus of work becomes competitive instead of being focused on quality and people will only work as much as it takes to earn the incentive.
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  4. Incentives can become quite costly as they need to continue to rise on a scale of cost in order to remain effective.
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Identify your triggers

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  • If you’re stretched too thin and have the power to do so, you can think about delegating, or ask your boss what you should prioritize and what you can complete later.
Asking for professional help

Sometimes eliminating external stressors just isn't enough. When you find yourself in a prolonged state of stress, it’s time to get the help of a professional.

Chronic stress can have a negative impact on your quality of life and can also make physical health issues worse.

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Following protocol

Schedule a time with your supervisor to break the news. Be aware that sharing the news with the office grapevine might cause the news to leak prematurely before you formally give notice.

It's...

Your future-focused "why"

Your supervisor will probably ask you why you are leaving.

Make sure your reason for leaving is opportunity-focused and aspirational and not because you are running away from something. Reasons may be taking on a more prominent role, learning new skills, working in a new industry or relocation.

Weighting counteroffers

Research found that while 58% of employers extend counteroffers, the average employee who accepts them stays less than two years in a company.

Keep the focus on your new opportunities and suggest that you remain in touch and explore the chance to return at a future time.

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Run slow enough that you're pretty sure you could overtake yourself at a brisk walk.

The point of running is endurance, and to manage that, you have to keep your heart rate elevated for the entire period of every training run. That means erring on the side of caution and only speeding up when you hardly break a sweat 20 minutes in.

Get with the running program

Slowly build up stamina over the first few weeks and months. To start, run three times a week for eight weeks, beginning with sessions that involve more walking than actual running, and ending with 30 minutes of non-stop jogging.

  • Your first session, run for a minute, then walk for 90 seconds and repeat the pattern eight times.
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The rise in the average working hours: contributing factors

The rise in average working hours a week can be related to three serious issues:

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  • We use devices that make us always on.

The rise of knowledge work has led to jobs with less structure, more demands, and higher pressure to be productive.

Overworking leads to decreased productivity

Studies show that working more hours increases productivity up a point; after that, the law of diminishing returns sets in. That point is around 49 hours per week.

Research shows overworked employees have an increased risk of fatigue, general poor health, and cardiovascular disease. Another study showed that managers couldn't tell which employees worked 80 hours per week and who just pretended to.

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