How To Ask For A Pay Raise During Ongoing Recession?

This question must be in minds of almost all employees in today’s world –  especially those who were hired at low pay-scale with a promise of increment based on performance and time, but that never happened.

Also there would be employees who are actually over working than what they are getting paid; such professionals usually start thinking of better opportunities as they get hopeless for any appraisal.

This hopeless situation is quite understandable, as majority (or let me say all) employers are cutting their every possible expense, and asking for a pay raise during this may not be a good idea.

If this question is tickling you for quite some time, then here is what Rozee has to suggest you…!

• Document your achievements over the past year. Don’t assume that your boss already knows about the efficiencies you have introduced and the extent to which you have boosted the productivity. Prepare your case and back it up with hard facts and figures about your performance.
• Stay open to the idea of other forms of compensations. Many employers try to keep base salaries flat, but a performance bonus may still be presented.
• Make sure your boss knows that you understand that the budgets are tight, and that you want to help your employer meet his company’s goals in this stiff financial condition.
• Adopt a moderate attitude while asking for a raise. It should not be so harsh that it may turn you up in losing your job. It should not also be so meek and meager that you readily get refused and hurt your self esteem.
• You would not be able to get what you want unless you ask for it. The worst that can happen is that you may get a refusal to your request. So do not hesitate to speak up, because the chances of acceptance and refusal of your request are equally even.

You should realize that once the economy boosts up again, companies would need talented professionals more than ever. In such circumstances, the ball will be in your court and you can make best use of the situation in your favor. So, try to stay rooted to your current employer and maintain your best performance throughout.

You may also find this article on CNN.com useful