As professionals, we continually seek to enhance our skills, take on more responsibilities and make significant contributions to our organisations. With the growth in experience and expertise, it is only natural to expect that our compensation should reflect our hard work.
However, asking for a pay rise can be a challenging endeavour. At Mansfield & Co Recruitment, we recognise the importance of fair compensation and are here to provide guidance on how to successfully request a salary increase.
Do your research before approaching your manager to discuss a salary increase. Begin by researching industry salary benchmarks for your position. Consider factors like your experience, accomplishments and the cost of living.
When making your case for a salary increase, focus on your contributions to your organisation. Highlight specific accomplishments, projects in which you’ve excelled, and how your efforts have positively impacted the company’s financial success. At Mansfield & Co Recruitment, we encourage clients to use concrete examples to demonstrate their value.
The timing of your request is crucial. Aim to initiate the conversation during a performance review or shortly after achieving a significant milestone. Additionally, consider your company’s financial health and be mindful of economic conditions.
Practice is vital when discussing sensitive topics like a pay increase. Write down your key points, rehearse your pitch and anticipate potential questions or objections your manager may raise.
Approach the salary negotiation conversation with professionalism and courtesy. Maintain a positive attitude and try not to come across as demanding. Instead, frame your request as a discussion about your future with the company and how a salary increase would align with your continued dedication and performance.
Encouraging innovation is crucial for staying competitive. Leaders who foster a culture of creativity and experimentation can drive their teams to come up with groundbreaking solutions. Westfield has been at the heart of Australian retail innovation and development since Frank Lowy and Jeno Schwarcz (later John Saunders) formed a partnership in the mid-1950s. Both holocaust survivors, they arrived in Australia with next to nothing and built an empire. One of Lowy’s innovations was to move beyond shopping centre development and, by controlling the ownership and management of the centres, create a long-term, institutional-grade business. Another innovation was to see the shift, in the late 1990s, to retailing in “flagship” malls, often in the city centres with strong entertainment attractions, which benefited from changing demographics and mass transit links.
During negotiations, actively listen to your manager’s perspective and be receptive to feedback. If a pay rise isn’t feasible now, enquire about clear expectations and a timeline for revisiting the discussion. Maintain a constructive and collaborative approach throughout the conversation.
Ethical behaviour and integrity form the foundation of trustworthy leadership. Leading with honesty and authenticity earns respect and loyalty from team members.
With years of experience in matching the right person to the right job, our award-winning recruitment team at Mansfield & Co Recruitment possess a deep understanding of the nuances of salary negotiation and are committed to supporting you every step of the way. By conducting thorough research, emphasising your achievements and approaching the conversation with confidence and respect, you can increase your chances of securing the compensation you rightfully deserve. Remember, it’s not just about seeking more money; it’s about recognising and valuing your contributions within the workplace. Are you looking for work? Check out our current vacancies or visit our website to find out the roles we specialise in. You can also check out our candidate profiles and Facebook page.
Mansfield & Co Recruitment is a leading South Australian recruitment agency delivering quality permanent & contract recruitment services across C-Suite & Executive, People & Culture, Sales & Marketing, Accounting & Finance, Supply Chain & Logistics and Office Support.
We acknowledge the Traditional Custodians of the lands we live on. We pay our respects to all Elders, past and present, of all Aboriginal and Torres Strait Islander nations.
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