The first rule of negotiating a raise is to make it easy for your boss to say yes. That means anticipating objections and addressing them in advance.
Smart negotiators rarely say, “I want more money.” Instead, they use facts to drive home their valuable contributions. They let the numbers speak for themselves and then assert their demands armed with strong support. They don’t ask, “What am I worth to this organization?” and leave themselves exposed to a penny-pinching boss.
Crunch numbers. Generalities won’t impress a number-crunching boss. Your genial personality and rah-rah spirit don’t matter much when budgets are tight.
“I like when my employees focus on measuring and quantifying their work,” says Joe McKinney, president of McKinney Lumber in Muscle Shoals, Ala. “If an employee comes to me and says he saved us $50,000 and the savings will grow each year, I’m not going to argue. I’m going to agree and make sure the pay reflects the contribution.”
Indulge biases. What you deem most impressive about your performance may not matter much to your boss. Identify the accomplishments that will most excite your higher-ups, and highlight those issues when negotiating your salary.
For example, you may be proud of your hiring and training of three supervisors who are now thriving. But your boss may care more about cutting waste and improving your unit’s productivity. By emphasizing this instead, you strengthen your case for a raise.
Enjoy a whole new level of persuasive power — Mastering Business NegotiationGive a history lesson. Put the current negotiation in perspective. Review your pay history and remind your boss of all the concessions you’ve made for the company’s greater good. Don’t be bitter; speak with enthusiasm about your work and how you’ve come to expect fair treatment.
Play all your cards. Don’t dwell on money. Some bosses are more willing to discuss other incentives such as paid time off, stock options or a company car. Know the variables that serve as a proxy for pay, and attach a value to them ahead of time. That way, you’ll negotiate wisely when it counts.
With Mastering Business Negotiation, you'll learn:
- The worst phrase to use as you begin negotiations.
- The way to turn negotiations about your pay package into bigger-than-ever rewards.
- Why “splitting the difference” is a losing proposition.
- Why win-win isn’t always a realistic strategy (and what to do when it’s not).
- Tactics that make the difference in telephone negotiations.
- And much more!
- How to Fire an Employee the Legal Way: 6 Termination Guidelines
- 10 Secrets to an Effective Performance Review
- How to Write Meeting Minutes
- 14 Tips on Business Etiquette
- Align work with team goals
- Safeguard against failure-to-hire suits by explaining how hiring process works
- Get ready for a new federally protected class: the unemployed
- 1-Minute Strategies: August '14