3 tactics to get a raise right now
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LEARN TO NEGOTIATE: Shayla M. Smith, SHRM is used to often being the only woman in the boardroom . She's learned to advocate for herself and negotiate her way up the corporate ladder, and wants other women to feel empowered to do the same.?
"In almost all cases, I have been the only female in the room, at the table, in the role," says Smith, now the chief operating officer at LA-based law firm Lichter, Grossman, Nichols, Feldman, Rogal, Shikora & Clark, Inc. "Now I serve as COO, but that conversation doesn't stop. It's super important to see these examples so other women know it is possible."?
BE TRANSPARENT: Being a CEO, founder or other high-level professional comes with its perks, namely swoon-worthy salaries . While not every person feels comfortable revealing the number on their paycheck, salary transparency is increasingly important in creating more equitable career journeys for all.?
"Transparency promotes equality, reduces wage gaps and creates a more engaged workforce," says Eliot Vancil , CEO of Dallas-based fuel management and delivery company Fuel Logic LLC . Vancil shared that he currently earns $150,000 as CEO, after earning $45,000 at the beginning of his career. He believes that transparency "guarantees that employees feel appreciated and can make informed career choices."?
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ASK FOR BETTER PERKS: Amid the ongoing conversations around return-to-office mandates happening this year, the majority of employees prioritize flexible work and are willing to give up other benefits and perks for it, too. While employees might not get a remote work arrangement full-time, they can have agency over when they come to the office and are given the ability to carve out time for their family if needed during the workday.?
Generous PTO and other benefits, like financial planning support, can also fill in any gaps a salary isn't able to fill.
Here's what to ask for: 4 benefits that make your compensation package competitive in 2024