HOW TO NEGOTIATE AN INCREASE IN YOUR SALARY

There are times when you feel like you aren't paid enough and you know that you bring in so much value to your employer and you don't know how to ask for an increase, well this post is for your enlightenment.

This is also for those who want to renegotiate an earlier stipulated pay that was fixed during an interview sometimes even before you were called for the interview or probably sent to your email immediately after the interview and you would want to renegotiate.

The first thing I want to establish is that life gives us what we demand not what we wish, What that implies is that everything is negotiated, life would settle for your best negotiating skill.

Africans can relate to how African moms negotiate when they go to the market to get foodstuff, funny enough No one prices anything up but down, you give your price and people start negotiating it to an affordable price which is never higher than what we earlier stipulated.

There are times when you want a higher salary and you don't want to go to another organization probably because you're used to the culture or you love the management, company values, and loyalty to a cause of theirs, you are also free to negotiate a higher pay

Below are tips to help you renegotiate your salary with your employer and boss.

1. Timing is everything.

you need to find a suitable time to negotiate your salary, it shouldn't come at a point when the company is finding it hard to get by, or amid a financial challenge that the company might be going through. Timing is just about the company but even the hiring manager, human resource manager, or even the Chief Executive Officer.

You can ask for a salary raise after the company just completed a successful project, closed a major deal, made great sales and turnover or just got positive feedback from either the media, customers, or an organization

It was said that judges give favorable verdicts after they have had a nice meal, you need to check the attitude of the individual that you need to negotiate with before the negotiation starts, people advise that negotiations about delicate things like this should be done on Thursdays and Fridays, those days are days when employers are trying to round off the week's work.

Find the right time and the right place as well.

2. Prepare your data and facts

You need to bring up your strong facts about why you need a salary raise, and not necessarily your issues. Your employer hired you to solve problems and create more income for them and if you can prove that you have been doing a good job so far with proven facts, accomplishments, awards, feats and milestones achieved, customer and clients testimonial, and feedback then they can see that you have done an amazing job so far, so you are trying to show them that with the money I've been paid so far, I was able to do this imagine what I'll do with higher pay.

You should have the employer in mind as well too because every business owner is in business to make a profit.

3. Have an alternative in mind

You should also be prepared for a counter offer and you also need to be flexible enough to accept it, don't be rigid, a wise man once said that trees that are not flexible in storms are the trees that are uprooted or bent down.

You could also have a list of nonmonetary benefits like an HMO, reduction of work hours to save cost, a mortgage plan, group life assurance, training that would benefit you and the company, etc

There are other benefits you could negotiate for that won't cost the employer much money, but in the long run can come in handy.

Sometimes after producing your strong reason, you might also need to listen to your employer and see what their concerns might be and what they are willing to offer, The best part of closing a deal is mostly learning to listen.

4. Let the deal be caught on paper.

When this deal has finally been concluded, it is best to state it on paper and let it be signed or at least sent through mail where one can have evident proof just in case either of the parties might start denying that they said some stuff, the contract should be explicit enough to be read, understood and signed by both parties.

5. Sometimes the terms might not be conducive or convenient for one of the parties, then the negotiation can be rescheduled

As we earlier mentioned, timing is everything, he who leaves, lives to fight another day. So bear in mind that the meeting can be rescheduled for a later date after which the employee might be asked to prove him or herself within that period.

6. Lastly, don't be scared to walk away, if after all have been said and done, the conditions aren't favorable for the parties then you can choose the last option which might mean that you should resign, but this is only applicable as the last resort after all has been negotiated.

Hope you found value.