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How to handle a wage review
POSTED BY FARAH RIZVI-HAMMOND
Thursday, July 13, 2017
Look at your review like a house appraisal.
Do you know what someone with your skills is worth in the market? Do some research and look at your role and your skills dispassionately, logically and based on your performance.
Call a recruiter
By all means call a recruiter who’s an expert in your industry for their advice on your market value. We’re happy to help. Look at salary surveys and job boards online, but don’t start looking for a new job.
Know what your current pay is (take a recent pay slip in if you like). Have an understanding of what your KPIs are and how you’re performing against them. Can you find out what people in other companies with the same or similar KPIs as you are being paid?
Make a list of all your achievements to meet your KPIs and what you’ve achieved outside your KPIs. Have you brought in new business? Did you do something that sets you apart from the crowd?
Know if or why you deserve a pay rise? Just because you’ve been there an extra year or because the company did really well aren’t good reasons. Be prepared with a list of how you contributed to your employer’s success.
Know what you’d like to achieve from the review and categorise these into: essentials (which if you didn’t get, you’d consider leaving your job over), negotiables (nice to have) and bells and whistles (great to have but really just icing on the cake).
Don’t start looking for a new job
We can’t put too much focus on this. Sure, whilst you’re researching market conditions you may be tempted to apply for some jobs, that’s understandable, but believe us when we say now is not the time to start applying. Give your current role your full attention and use this opportunity to understand the package available to you and the career progression possible with your current employer.
Recruiting staff is expensive and time consuming and Australia is a very small industry – do the right thing by your employer and give them the opportunity to address any concerns you may have.
Never go into a review with a job offer from another employer as a way to negotiate. It will put your employer off, and if you stay with your employer you’ll have wasted your new employer’s and your recruiter’s time.
Sometimes reviews are uncomfortable, but respect that your boss is a professional doing their job. Be respectful, and remove yourself from the situation if it becomes heated or emotional. Say, “Could I have a couple of days to digest what we’ve discussed?” Leave the meeting, schedule a new meeting.
Do not take a friendly manager marking you down for KPIs not achieved personally – it’s not. They are reportable upwards and if you have underperformed, it’s your responsibility to be accountable for that. If you don't have clear KPIs ask for them – you need to know how your performance is being managed, recorded or assessed.
Take on feedback
Maybe there is some truth to the feedback you received at your review? Maybe not. Sometimes you don’t like what you see – but this can be a great opportunity to improve. It’s essential that you approach these meetings professionally and with a clear head. If you’re angry, take a week to process the information you’ve been given. Don’t start job-seeking immediately. If you’re still keen to find a new job after a week call us and we’ll be happy to chat.Back
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