Getting a hike in salary or money raise is an important issue for both employees and employers. It is in mutual interest of both the parties to remain flexible on this issue. Employers should make sure that they are paying the prevailing rate of compensation to their employees. Similarly, the employee must also ensure that he/she is not expecting the sky. Any raise which belies the industry trend is unjustifiable. Most of the time employees get the raise during the annual or biannual assessments and offered some raise in their salary, depending upon the remuneration policy of the organization. So the question is if an employee is offered raise at annual assessments then why he/she should think about asking for raise. According to the prevailing opinion the employee is justified in asking for raise in following circumstances:
- If new recruits with the same designation and work responsibilities are offered higher salary.
- If new recruits working in a lower designation and work responsibilities are offered higher salary.
- If a specific benefit which was earlier offered to you by company no longer exists. For example if you were given a company car for your own use but due to some reason the company is not able to provide the facility of car to you; then you may think about asking a raise.
- Company has benefited enormously because of your individual efforts. It often happens in the sales, marketing and service sector jobs where some of the employees are exceptional performers and give more than what they are paid for. It would be better if the company offer quick career growth to such talents. However, if the vacancies don’t exist in the upper designations, it would be better in the interest of the company to offer higher raise to exceptional performers.
How to ask for Salary Raise?
It is very tricky; make sure that you are not discussing the issue with too many people in the office. It would be better if you talk on the issue with your immediate boss and assess your chances of getting the raise. Never ever let the office grapevine know about your salary expectations. Never ever try to negotiate your salary by saying that if you are not offered raise you may resign.