11 Reasons to Ask for a Salary Increase

When money is involved, asking for a salary increase becomes a sensitive topic, requiring proper planning. To successfully request a salary increase, you need to convince your supervisor that you deserve it and choose the right timing. This article highlights the best time to ask for a raise and provides guidance on making this request.

#1: YOUR POSITION EVOLVED

Your work performance is one of the strongest arguments for receiving a pay raise. Going beyond the requirements of your job may involve taking on additional responsibilities, surpassing quotas, and assisting your co-workers. If your position has evolved to include new tasks, you can discuss the possibility of a pay raise with your supervisor. If you are capable of completing these tasks, offer to take responsibility for them voluntarily. This demonstrates your enthusiasm to learn and your commitment to the company’s success.

#2: YOU RECEIVED A PROMOTION

A change in position often comes with an increase in salary, which is particularly significant when transitioning from a rank-and-file role to an executive or managerial position.

#3: YOU GAINED SENIORITY

Did you recently gain seniority in your company? In some companies, particularly in the public sector, as employees gain more seniority, their position grade and rewards tend to increase. This can be expressed through various forms of recognition, such as benefits or bonuses, which acknowledge their years of service and dedication.

#4: YOU WERE REQUIRED TO TRAVEL MORE

Traveling for work, as mandated by your job responsibilities, can serve as a compelling reason for an increase. It not only demands adapting to diverse environments, childcare arrangements, and professional schedules but also entails emotional challenges. Moreover, travel carries inherent risks that can potentially compromise the safety and well-being of workers.

#5: YOU NEED TO ALIGN WITH INFLATION

An employee’s salary is initially determined upon their employment, but it can be subject to change through annual promotions and other factors, such as inflation. It is crucial to argue for the need to align the cost of living with current wages. One significant aspect is ensuring that the salary keeps pace with the evolving minimum wage, which is reassessed annually, often in December, depending on the company. Regular salary adjustments are essential to maintain a fair and equitable compensation structure.

Image Credits: unsplash.com

#6: YOUR COMPANY IS GROWING

The company you work for is experiencing growth, and you play a crucial role in that progress. It is entirely acceptable to request a pay increase because of this expansion. However, it is essential to articulate how your contributions have contributed to the collective effort that drove this growth. What did you do differently from others?

#7: YOU BROUGHT IN NEW CLIENTS

In line with the company’s growth, if you have brought in a significant number of clients in recent years, you can make a persuasive case for a raise based on your exceptional networking skills and abilities. As a commendable employee, it is important to assert your value through concrete facts and sales figures.

#8: YOU MANAGE MORE PEOPLE

Have you recently been assigned to a team? It is deserving of a raise due to your new responsibilities. Managing individuals with their unique differences can pose a challenge for any employee. Effective management cannot be improvised; it demands specific qualities, efforts, and concessions.

#9: YOU ARE PAID LESS THAN YOUR CO-WORKERS

With comparable professional characteristics (such as time, position, experience, and diploma), the pay gap between men and women in Singapore was 14.4% in 2020. This indicates that full-time resident women aged 25 to 54 earned $0.856 for every $1.00 earned by their male counterparts.

If you discover that you are being paid less than a co-worker with the same qualifications and job duties, it is important to discuss this matter with the Human Resources department. Seek to understand the reasons behind this disparity and do not hesitate to engage in salary renegotiations.

#10: YOU RECEIVED AN EXCELLENT PERFORMANCE REVIEW

Since most employers factor in individual performance when making pay decisions, it becomes a crucial variable when being considered for a pay increase or promotion. Demonstrating excellent performance is essential for retaining your current responsibilities and achieving a higher salary. Consistently maintaining a high level of performance is equally important. Even when applying for a new job, this information can hold significance for your prospective employer as it provides a more comprehensive understanding of your abilities.

#11: YOU GAINED ADDITIONAL EDUCATION

In healthcare and academia, pursuing further education and obtaining certifications hold significant importance. The quality of one’s education can directly impact their salary. Graduating from a top program generally has a positive influence on pay. Furthermore, acquiring additional certifications relevant to your current position can contribute added value to the company, providing compelling arguments during salary negotiations.

Image Credits: unsplash.com

In conclusion, there are numerous valid reasons to request a salary increase, including evolved position, promotion, seniority, increased travel, inflation alignment, company growth, client acquisition, team management, pay disparity, excellent performance, and additional education. Best of luck in your negotiation!

Sources: 1,2, & 3

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Immediate Steps On Dealing With A Promotion

Several people are fortunate enough to receive a promotion. The glistening promotion is a chance to better yourself and your existing skill set. Higher roles entail more responsibilities and expectations. Some of your previous co-workers may be happy for you, while others may pull you down!

Consider these tips to guide you with the new challenge ahead.

#1: DO NOT WALK IN THE DARK

When I was given the coveted promotion, a series of thoughts ran through my mind. I was deeply concerned about my new supervisor. Keep in mind that the internal roles will shift due to this promotion. Budding relationships, such as the aforementioned, shall work smoothly if you keep the streams of communication open.

Aim to schedule an appointment between you and the supervisor (or the HR representative). Discuss your upcoming responsibilities and duties, especially the operating systems that you are not familiar with. You may be tasked to hire new employees, track the department’s invoices, deal with employee reimbursements, or document employee hours. No matter what your new tasks are, you need to be familiar with the protocol for each new responsibility. Do you need your supervisor’s approval before hiring and employee?

#2: TAKE A STEP BACK

Be honest with yourself as you contemplate on the type of leader that you aim to be. Do you want to be respected or feared? Do you want to build a bridge or a gap between you and your team members? You can be a great leader and a good friend by slightly altering your behaviors.

Image Credits: pixabay.com

Some experts suggest that you must totally disconnect from your team members (i.e., including in social media). This is due to the changing workplace dynamics. You do not want others to perceive that you favor a particular person due to the “preferential treatment”. You may still attend happy hours but, not often as before. Katy Tynan, the author of Survive Your Promotion!, suggests that you continue to spend time with your team members as you need to blow off steam sometimes. Furthermore, bonding experiences let them know that you can vent out whenever necessary.

#3: SET THE FIRM TONE

Changing the manner of your speech is crucial in your daily interactions. From making a stellar interview to filling a complaint, your tone needs to change as you dive in different scenarios. Being a loyal friend on one hand and a critical boss on the other is a challenging task. Thus, you need to set a firm and authoritative tone when you are in the workplace.

Ensure that your team knows that you have their backs. However, they can no longer vent out in a “gossipy” manner. Use your bond to find a concrete solution and move forward in a professional manner instead. Focus on a solution that values customer satisfaction and employee happiness.

#4: ESTABLISH A DIALOGUE

People react differently when it comes to internal promotions. As their new supervisor, you need to be emphatic with their initial thoughts. Actively listen to their feelings and do not be swayed by them. If you dive a little deeper into a conversation, they may start comparing themselves to you. Hurtful statements such as “my performance is better than yours” or “I have more experience than you”. Defending yourself may lead to damaging your professional relationship (e.g., by saying “the CEO did not see a great managerial potential in you”. That is not healthy! It is difficult to spend your days trying to repair the relationship while focusing on your new position.

Image Credits: pixabay.com

Work together to reach a beneficial solution. Communicate your desire to talk to each team member over lunch. Let the department know about your goals and how these will be actualized. It is important to cultivate a two-way feedback between you and them.

Sources: 1,2, 3, 45

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5 Ways To Grind Like A Boss Even When You Are Not

You may not be a boss yet but if you start acting like one, you can just snag a chance at a beaming promotion!

I am not encouraging you to point fingers and demand orders to everyone at the office. Instead, I suggest that you act like the boss that you wish to work for. Not only are you serving as an inspiring role model for your own boss but you are also giving your colleagues a glimpse of what it about to happen when you climb up the ladder.

On that note, here are some tips to act like a good boss:

1. GIVE ATTENTION TO ISSUES

Always channel your inner boss by asking yourself if there are current issues that the management needs to address.

I remember a friend of mine who started as a receptionist at a fitness studio. She used to do the attendance by typing the names of each participant in the room. Imagine doing this for a class of more than 30 people. You can easily lose count! Then she discovered a faster way doing things by assigning each participant with a bar code, which they can scan before they enter the room. The management was really pleased. A year after that, she became the manager of the studio for more than 4 years.

2. TAKE THE INITIATIVE

Good bosses have initiative and enthusiasm. Showing that you are dedicated to do every task and are taking control of your responsibilities would make people feel that you are an asset to the company.

Even without the guidance of the management, there are some simple things that you can solve by yourself. Do not waste time and get things in motion.

3. HANDLE PRIORITIES WELL

Business owners and supervisors have lots of things on their plates. Because of our competitive environment, several things pull them on different directions every single day. This is why they must handle the significant priorities first before moving on to the non-essential tasks. Do the same thing!

Start by keeping a list of all your daily tasks. Move the items up if they are really important. When a new project comes along, ask yourself about its importance and organize accordingly.

4. MANAGE YOUR MONEY

It is essential for a boss to understand the fundamentals of managing money including budgeting. A budget is your understanding of the materials needed as well as its costs – be it in the currency of money, time, and people.

Practice the basics of money management by budgeting your personal household expenses. Also, make sure that this is aligned to your financial goals.

5. EVALUATE YOURSELF

Performance appraisals help the management decide whether or not they shall give you a pay raise or a career advancement. Go inside the mind of your boss by reflecting upon your previous feedback or review. Know which areas you need to improve on and which areas are your strengths.

Do a self-assessment every few months to remind yourself about the changes that you shall make.

Image Credits: pixabay.com

Image Credits: pixabay.com

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Phoon Huat: Bonanza Sale – Over 1,000 Items on promotional price (From 20 May 16)

It’s time to satisfy your baking needs.

Phoon Huat, Singapore’s leading supplier in baking ingredients and products, is having a Bonanza Sale.

From 20 May until further notice, prices for over 1,000 products are marked down during this promotional period.

Sale will take place at all their 11 outlets island-wide. (Find the nearest store here.)

Here’s a preview on what to expect:

Phoon Huat Bonanza Flyer

Share this piece of good news with your friends and loved ones who love baking!

 

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FairPrice: 3 Tubs of Ben & Jerry’s Ice Cream at $29.80 (U.P $41.70) (14 – 20 Jan 16)

Ben and Jerry 3 for 2950

It’s time to make room in your freezer.

From now till Jan 20, FairPrice will be selling 3 tubs of Ben & Jerry’s Ice Cream at just $29.80! (U.P $41.70)

That’s a whopping $12.20 savings! Stock up on your favourite Ben & Jerry’s ice cream flavours before they run out.

Choose from the various assorted flavours such as Chocolate Fudge Brownie, Sweet Cream & Cookies, Chunky Monkey and more! (except for Core/Cookie Core range)

FairPrice Must Buy 14 Jan 16

You can’t buy happiness, but you can buy ice cream. And that’s kind of the same thing.

Share this limited time offer with your friends and loved ones out there!

 

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