Companies start reviewing their employees’ performance and appraise them to revise pay packets of deserving employees and it is in the month of April every year. The fact remains that no matter what the raise may be all employees feel they deserve more irrespective of whether it’s a new job offer, internal performance review or bonus / perks. Negotiating money matters with management, or senior for that matter, requires a lot of intellect and wit. Here are some pointers to help a candidate get the things in his favor.
Pay structures are designed based on market value. No matter what, no company will offer any employee a single penny more than the prevailing market rate unless he is an exceptionally good candidate and a resource the company believes will be their trump card. Before making the offer, companies also evaluate the candidates on various criteria. A candidate is evaluated on the basis of qualification, the quality of work experience, job openings at hand and overall cultural fit. Based on this evaluation candidates are made the offer. So before appearing for an interview, it is important to do a thorough research and find out the current market value. It is not important that the candidates in question comes from an impressive educational background or that they have a vast pool of work experience under their belt. The quality of experience and its relevance to the profile at hand as well as the capacity of the individual to be able to take on the profile is what counts. However, recruiters mainly look for people who have a healthy balance of all these factors and this is the deciding factor for then management to gauge what an employee is worth to the company.
When it comes to a new job, never accept any offer the moment it is made to you. The first offer being made is usually not the last one. Remember, there is always room for negotiation even in case of a fresher. Usually most companies leave scope for negotiation. However, not all candidates are offered what they demand. When candidates negotiate the offer, the management revisits the profile and then decides on what needs to be done. Negotiating money to be done tactfully and should be convincing. Employee can suggest a review of the offer being made, while expressing interest in the job. This lends the much needed positive approach towards the deal. The body language and tone of the candidate speaks a lot about personality. While asking for a review, it is important to be able to justify the demand. Random figures never work. Ask the employer/interviewer questions that could range from details regarding job profile to responsibilities and the work culture. Appropriate questions at the appropriate time reflect candidate’s knowledge regarding the field and can make a huge difference to the recruiter’s viewpoint.
Never lie about salary on your resume. Be warned as an extra zero in your resume may get you a better offer, but when you have to substantiate your claim the tables are sure to turn around. The members of the HR team or management also indulge in job hopping. They are also well networked. Therefore, it is not a good idea to lie on a resume for all you know a month later you go for an interview in some other company and to your surprise you find yourself seated in front of the same executive you lied to. Once you create an undesirable image for ending it is not going to be an easy task.
it is advisable to be reasonable when you quote figures. Quoting random figures don’t work. This is applicable to both, those seeking a new job as those looking forward to a review and thereafter a revised pay package. Quoting unreasonably high or even low figures (applicable only for fresh candidates) could adversely affect the way the management considers you. One may use the market value as a benchmark but that alone will not justify a higher pay package. There are other factors that count. One should also be cautious of the fact that they must have the capacity to deliver in terms of performance once on board. An employee must refrain from over promising and overstating their true capabilities.
When it comes to requesting a raise, many people consider an e-mail correspondence or prefer communicating on paper as they see it as a means of maintaining records. An employee must remember he is looking forward to getting a raise and not just maintaining records. This is perhaps one situation wherein words actually speak louder than actions. It is advisable to talk it out as convincing your senior during a one-on-one discussion is much easier. Moreover, an across the table setting leaves very little scope for a direct rejection, which is more likely to occur in a non-verbal communication. However, if one gets a favorable response from the boss, ensure that it is put on record else the commitment may never materialize. So be careful and ensure that you get what has been promised to you.