See our privacy policy

View latest eNoticeBoard.

Place an advertisement.

80% of our Members come to us from other groups. Be part of the 20% that get it right the first time!
Member Application Form

 

 

FACTS ABOUT WOMEN

Women own 585,000 of the 1.9 million small businesses operating in Australia.

Women own almost half of all home-based businesses and one-third of businesses operating from other locations.

Women setting up business from home is the fastest growing sector of the Australian economy.

46% of women run their businesses from home - a 20% increase in the last five years.

Women make or influence 80% of all purchasing decisions.

Women owned businesses have less external debt, are more profitable and profitable much earlier than those owned by men.

94% of all Australian businesses have an annual turnover of less that 2 million dollars.

Links > Articles and Tips >

How to Get the Pay Rise You Deserve

5 Keys to winning a pay rise

by Anne-Marie Orrock, Managing Director, Corporate Canary HR Consulting

As another year commences many of us reflect on the achievements and goals that we have reached during the past year both personally and professionally. On the business front many of us find we have been working longer hours and have delivered beyond what the expectations are in our jobs - ‘I should get a raise!’ I hear you say. But how do you go about getting what you are worth?

There are 5 key approaches to consider before you corner your manager and demand a pay rise!

1. Do you homework.
It is imperative that you are planned and know what the market rate is paying for your position.  Sure, you can look on SEEK or other job boards, but ensure that the job size, company size and expanse of responsibility is on par with your job. 

Know that there is a difference between the value of your role and the value of your experience. They are not always the same. For example, if a Doctor was in a Janitors role would you pay him the salary of a Doctor or a Janitor? If you are in a role where your experience is above the job requirement consider asking your manager for increased responsibility or projects to justify the increase you are asking for. 

Contact various recruitment consultants that are specialists in your field and talk with them about your role. Tell them the job size and other key responsibility metrics (e.g. revenue number or number of staff you are responsible for) to get a feel for what other similar sized positions are currently paying at.  The Marketing Manager in one company can mean and hold differing responsibilities and salary rates to the same title in another company.  So get your metrics and job size right.

2. Understand internal and external budgeting processes. 
Most companies plan for their salary increases many months in advance of pay rise delivery and managers are given a ‘salary pool’ or a % increase figure that they need to spread across the staff reporting to them when assigning salary increases. Research or call HR Consulting companies or employer industry groups to get an understanding of what the average % salary increases businesses are planning on in general in the industry. By approaching your manager with this knowledge you may be able to negotiate an ‘out of cycle’ pay increase if you are prepared to wait a couple of months.

3. Justify your request with evidence. 
It is worth the time to sit down and demonstrate where your efforts have directly (or indirectly) added value to the company in terms of:
n Saved money.
n Increased sales or revenue. 
n Increased customer satisfaction or number of times a customer buys.
n Increased the value of sales.
n Saved time.
n Increased quality (of product or service or process).

Work out a total dollar amount value on what you have contributed to the company from the above list and ask that your manager re-invest that saving or revenue increase in you.

4. Present yourself as a future investment. 
Using the same metrics or new ones that you have developed, talk with your manager about how you would like to use them as goals to achieve in the future. Any manager knows that a pay increase is not only a reward for past achievement but also for your future efforts. Help your manager see it as an investment in you and not a cost. Use language that will help them understand what their ‘return on investment’ will be by establishing metrics that define where you will make a difference.

5. Know how to negotiate a win-win outcome. 
The better prepared you are with the above steps the stronger position you have in the negotiation.  Set yourself a target salary range to negotiate within. The best time of the day to negotiate is first thing in the morning, before the day gets busy with distractions and interruptions.  State that you have done considerable preparation and research into the job market to your role and that you understand the difference between job size and your experience and that you feel you deserve a salary increase.

It is important to highlight your achievements (e.g. project success, customer feedback, improved systems etc) in a broad sense. At this point you can let your manager respond. If they respond favourably you are in a good position. Should they express that salary increases are dependent on internal company policies, use the figures from point 3 above that you have planned to justify your request and ask that these savings or increased sales be re-invested in you, if not now but in a few months time.

Should you still not gain a salary increase ask your manager if they will consider additional training opportunities or sponsor your professional memberships and related activities. This allows you to increase your knowledge and value over time, which gives you further reason in the future to ask again.

In summary you need to demonstrate your own worth and value to the company in terms of metrics. This will give you the edge on your colleagues who are also competing for a pay rise too and demonstrate to your manager that you have a serious and professional approach.

Author: Anne-Marie Orrock
Business: Corporate Canary HR Consulting