You've been working hard and delivering results, but you feel stuck in your current role and salary. You know you deserve a promotion, but your boss doesn't seem to notice or appreciate your value. What can you do to change the situation? One possible strategy is to leverage an external offer from another company to get the promotion you want. Here's how to do it.
The first step is to find a credible offer from another company that matches or exceeds your desired position and compensation. This means you need to do some research, network, and apply for relevant opportunities. You also need to be prepared to go through the interview process and negotiate the best terms possible. The offer should be in writing and have a clear expiration date. You don't want to bluff or lie about having an offer, as this can backfire and damage your reputation.
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"Recognition by Resignation" is a common tried technique in the corporate world. If you are now being considered "deadwood" in your organisation, no harm exploring your market value. The offer letter you secure means that you will either join the new company or your employer will retain you. The problem with the latter is that once you resign and withdraw, often bosses turn vindictive and that causes problems later. You are no longer an insider but someone who used an offer letter to match salaries
The second step is to evaluate the offer and compare it with your current situation. You need to consider not only the salary, but also the benefits, perks, culture, growth potential, and fit. You also need to weigh the risks and costs of leaving your current employer, such as losing seniority, relationships, or projects. You need to ask yourself if you would be happy and fulfilled working for the other company, or if you would prefer to stay where you are.
The third step is to communicate the offer to your boss and express your interest in staying with your current employer, but only if you can get the promotion you deserve. You need to be respectful, professional, and confident, but also firm and clear. You need to highlight your achievements, contributions, and goals, and show how they align with the company's vision and strategy. You need to explain why you are worth the promotion and how it would benefit both you and the company. You need to avoid sounding arrogant, greedy, or threatening, as this can alienate your boss and hurt your chances.
The fourth step is to negotiate the promotion with your boss and HR, if applicable. You need to be prepared to present your case, back it up with evidence, and counter any objections or concerns. You also need to be flexible and realistic, and willing to compromise on some aspects, such as timing, scope, or responsibilities. You need to show that you are loyal, committed, and motivated, but also that you have other options and won't settle for less than what you deserve.
The final step is to make a decision based on the outcome of the negotiation and the terms of the offer. You need to weigh the pros and cons of each option, and consider your long-term career goals and personal preferences. You also need to factor in your gut feeling and intuition, and trust yourself to make the best choice for you. You need to communicate your decision to both parties as soon as possible, and be respectful and grateful for the opportunity. You also need to be ready to deal with the consequences, whether positive or negative, and move on with your career.
Perhaps a controversial opinion, but if you need to get another offer to convince your current Company that you deserve a promotion, it's probably better to take the new offer. If you have to threaten to leave to get what you believe you deserve to stay, there's a problem somewhere in the mix. Have a healthy, adult discussion about it - of course - but look at the bigger picture