ActionCOACH shares the secret to a wage rise
Buying a franchise is a great way to reduce risk in business ownership as you will be buying proven systems and a support network to help you succeed. If you are the type of person who gets a buzz from helping others succeed, loves learning and developing yourself and have enjoyed success in your career or sport, this is the fastest route to freedom and fulfilment that any franchise partner can enjoy.
ActionCOACH franchisee Adam Scully has been sharing his top tips for successfully asking for a wage rise.
There aren’t many things more awkward than asking for a pay-rise at work, meaning many of us put it off and get by on a lower wage than we really deserve. However, ActionCOACH franchisee Adam Scully has been sharing his strategy for success when it comes to broaching the subject of money with your boss that will give you the best chance at boosting your pay packet.
First, Scully advises anyone looking for a pay rise to gather their evidence before even thinking about setting up a meeting to discuss it.
“Prior to your periodic review be sure to have the necessary evidence to support the reason why you ‘deserve’, not just ‘want/need’, a raise. Do your homework and think about what the potential objections could be to your request. How would you answer those objections? How can you address those objections in your initial request? What have you done that has gone the extra mile?”
He advises that coming armed with numbers is one of the most effective ways to demonstrate your worth.
“Information such an exceeding KPI’s requirements, consistently exceeding targets, taking on additional responsibility, etc. Identify ways you’ve earned money for the company through sales, upsells or creating efficiencies. Numbers are very convincing.”
Once you’ve prepared and planned to within an inch of your life, Scully, who’s part of business coaching franchise ActionCOACH, advises approaching the discussion carefully.
“Be sure that you don’t give an ultimatum unless you’re willing to lose the job. Your request should not come across as a demand as you should try to stay on good terms with your boss even if they say no.”
Scully also advises preparing yourself to negotiate if you don’t receive a yes straight away.
“You can’t expect to receive a raise without being asked to take on additional responsibility or requirements. The company has to receive some additional benefit to be giving you a raise. Make sure whatever requirements you are given are specific and are measurable. Then justify their decision to give you a raise by exceeding.”
Finally, Scully says it’s always best to prepare yourself for rejection.
“Don’t be discouraged by a no. Use this as a perfect opportunity to find out what you need to do in the future to increase your chances of receiving a raise.”
Sophie Cole, Point Franchise ©
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