Monday, October 27, 2008

What do you mean no raises this year?

Your company has just announced that they do not expect to issue yearly increases this year, now what do you do. Your first reaction is probably to get angry and point out that with the increase in the cost of living that you are really taking a pay cut this year. Add to that the increases in the cost of benefits or the reduction in benefits it really feels like you, the hard working employee is getting screwed.

You are not alone. Not only are you seeing a decrease in your spending power so are many investors, managers and executives. The truth is times are tough; sales and business is down for many companies. It is a tenuous time for everyone, still that doesn’t make a bitter pill any less bitter and neither does your managements glib “just be happy you have a job” attitude.

So what do you do? First managers are up against a wave of employee angst and your positive attitude will set you apart and put you first in mind when pay raises are available again. Next document your performance, the ways you have saved the company money, increased customer retention, streamlined processes or in anyway made your company a lean mean economic downturn fighting machine.

By making yourself the positive we can get though this person you not only make it less likely that you will be “re-organized” out of a job, you will increase your chances that when and if there is a little money available to reward employees your manager will reward you.

Now if you are in an industry where workers are in demand, like healthcare, you may want to still have a conversation with your manager about why you merit an increase in pay. Should you be in a company that is in the money, you might also consider a polite conversation highlighting your contributions and requesting that raise.

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