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What do you do if your employer is hesitant to give you a raise in a business innovation role?

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In a business innovation role, your creativity and strategic thinking drive progress, yet you may find yourself hitting a wall when it comes to getting a raise. If your employer is hesitant, it's crucial to understand the reasons behind their decision. They might be constrained by budget issues, or perhaps they're not fully aware of the value you bring. Your first step is to prepare a solid case that highlights your contributions and the impact they've had on the company's growth and competitive edge. Approach the conversation with confidence, armed with a clear understanding of your achievements and their significance to the business.

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Bruce Rosard

Co-founder Arival: The Best Part of Travel / Co-host Experience This!

1 Assess Value

Before initiating the raise discussion, take a moment to objectively assess your value to the company. Have you introduced new processes that increased efficiency? Did your ideas lead to successful products or services? Understanding and articulating your unique contributions is key. This self-assessment will not only boost your confidence but also provide concrete examples to present to your employer, demonstrating how your innovative efforts have positively affected the bottom line.

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2 Timing Matters

Timing is everything when asking for a raise. Evaluate the company's financial performance and consider the industry's current climate. If your organization has just landed a big client or is on a growth trajectory thanks to your innovations, it's an opportune moment. Conversely, if the company is facing cutbacks or losses, it may be wise to wait for a more favorable time, showing that you are attuned to the broader business context.

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3 Strategic Plan

Develop a strategic plan for your raise request. Don't just ask for more money; explain how your innovative work warrants it. Present a roadmap of past successes and future initiatives that you're excited to lead. This shows foresight and dedication to the company's success. Be ready to negotiate and have a clear minimum raise in mind that would make you feel valued and fairly compensated for your role.

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Bruce Rosard

Co-founder Arival: The Best Part of Travel / Co-host Experience This!
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If you believe your plan can grow revenue, and you can execute on your plan and gain proper attribution for the revenue growth, then put your money where your mouth is. Instead of being focused on asking for a salary raise, focus on commission ("comm"). You can earn a lot more with comm than salary if the structure is set up in your favor. Create and present a comm structure with higher comms based on higher levels of sales and ensure the higher comms are retroactive and apply back to "dollar one". Also, don't ever settle for a max comm amount. The bottom line is their bottom line. Present a risk free proposal as part of your strategic plan that includes an aggressive comm plan where you can earn more by earning the co more $.

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Srividya Kumar Iyer

Chief Executive Officer at Sri Sairukmani Enterprises
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To effectively request a raise in a business innovation role, craft a strategic plan that emphasizes your contributions and potential. Highlight past successes and outline future initiatives you're eager to spearhead. Clearly articulate the value you bring to the company's growth and be prepared to negotiate, keeping a minimum raise in mind that reflects your worth. This approach demonstrates your foresight, dedication, and commitment to driving the company's success.

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4 Communication Skills

Your communication skills are pivotal in this discussion. Approach the conversation with a positive, collaborative tone. Rather than making demands, seek to understand your employer's perspective and express how a raise would not only benefit you but also support the company's innovation goals. Effective communication can turn a potentially contentious negotiation into a constructive dialogue about your career development.

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Srividya Kumar Iyer

Chief Executive Officer at Sri Sairukmani Enterprises
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When faced with hesitation from your employer regarding a raise in your business innovation role, prioritize effective communication. Approach the discussion positively and collaboratively, seeking to understand their perspective while expressing how a raise aligns with both your personal growth and the company's innovation objectives. By fostering a constructive dialogue rather than making demands, you can navigate the negotiation process with greater success and ensure that your career development remains a priority.

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5 Alternative Perks

If a salary increase isn't feasible, consider negotiating for alternative perks. These could include professional development opportunities, additional vacation days, or flexible working arrangements. These benefits can enhance your job satisfaction and demonstrate that your employer values your contributions, even if they can't currently offer a financial raise.

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6 Plan B

If all else fails, it might be time to consider Plan B. Look for other employment opportunities where your skills in business innovation are properly rewarded. Sometimes the best way to advance your career and achieve the compensation you deserve is to move on to a company that recognizes and values your unique talents and contributions to innovation.

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7 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?

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What do you do if your employer is hesitant to give you a raise in a business innovation role?

1

2

3

4

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1 Assess Value

2 Timing Matters

3 Strategic Plan

4 Communication Skills

5 Alternative Perks

6 Plan B

7 Here’s what else to consider

Business Innovation

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What do you do if your employer is hesitant to give you a raise in a business innovation role?

1

2

3

4

5

6

7

1 Assess Value

2 Timing Matters

3 Strategic Plan

4 Communication Skills

5 Alternative Perks

6 Plan B

7 Here’s what else to consider

Business Innovation

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