Last updated on Jul 17, 2024

Here's how you can secure a salary or raise in Employee Relations during challenging economic times.

Navigating the tricky waters of employee relations can be daunting, especially when it comes to negotiating your worth during lean times. But even when the economy throws a curveball, there are strategies to help you secure a salary increase or a raise. By understanding the value you bring to the table and effectively communicating it, you can position yourself for financial advancement despite economic challenges.

1 Know Your Worth

Understanding your value within an organization is the keystone of negotiating a raise. Before initiating any conversation about salary, conduct thorough research on industry standards for your role and experience level. Be prepared to articulate your unique contributions, achievements, and the additional responsibilities you've taken on. Your goal is to demonstrate clearly how your work positively impacts the company's bottom line or operational efficiency.

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Avishek Roy

Section Head - HR & Admin at ONGC Tripura Power Company Ltd | Certified HR and L&D Analytics & Metrics Professional | Certified Compensation & Benefits Manager | Certified Tableau Analyst
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Securing a salary increase or raise in Employee Relations during challenging economic times requires a strategic approach and clear demonstration of value. Here are some steps to increase your chances: 1. Understand the Business Context 2. Demonstrate Value 3. Market Research 4. Prepare a Case 5. Show Adaptability and Innovation 6. Professional Development 7. Seek Feedback 8. Timing and Approach 9. Consider Non-Financial Benefits 10. Follow-Up By following these steps and effectively showcasing your value and contributions, you can strengthen your position to secure a salary increase or raise in Employee Relations, even during challenging economic times.

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2 Timing Matters

Choosing the right moment to discuss salary is almost as important as the negotiation itself. Aim for a period when your contributions have been particularly visible and valuable. Avoid times of company-wide stress or downturns when budgets are likely to be tighter. Instead, schedule a meeting following a successful project completion or during a positive performance review when your achievements are fresh in your manager's mind.

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3 Build Your Case

When preparing to negotiate, gather evidence of your accomplishments and testimonials that underscore your value to the company. Create a compelling narrative that links your performance to tangible results, such as increased revenue, cost savings, or improved team morale. This evidence will be indispensable in justifying your request for a raise and will show that you approach the negotiation with a business-focused mindset.

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Kelly (Elmer) DeCicco, MBA

Senior Human Resources Leader and Business Partner driving Strategic Labor & Employee Relations , Engagement, and Inclusive behaviors.
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I make this recommendation to anyone looking to seek funding; building a business case to support how the investment will return to the overall business is key. Create the case to show how your efforts increased value ( use data!) ; this can be in a key deliverable that created cost savings, risk mitigation, or added value in other ways.

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4 Practice Negotiation

It's essential to rehearse your pitch before the actual negotiation. Practice articulating your points confidently and prepare for potential counterarguments. Role-playing with a trusted colleague or friend can help you refine your approach and ensure you convey your message effectively. Remember to stay flexible during the negotiation; be ready to listen and respond to feedback or alternative compensation methods such as additional benefits or flexible working arrangements.

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5 Alternative Perks

Sometimes, despite your best efforts, a salary increase may not be feasible due to economic constraints. In such cases, consider negotiating for non-monetary benefits that can enhance your job satisfaction and work-life balance. These could include flexible working hours, opportunities for professional development, additional vacation time, or remote work options. These perks can often add significant value to your overall compensation package.

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Nneka Chiekwe ACIPM

Human Resources | Data Analytics | Film/TV Producer | People Manager
(edited)
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Offering non monetary benefits will not only take some financial load off employees, but will also improve their physical and mental well being since a perk like the flexible work hours, for instance, affords them the opportunity to take a break from the stress of commuting once or twice a week. Such employees are also more likely to be engaged and loyal to the business.

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6 Follow Up

After your negotiation meeting, it's crucial to follow up with a thank you note expressing gratitude for the opportunity to discuss your salary. This professional courtesy keeps the lines of communication open and demonstrates your ongoing interest in contributing to the company. If you've received a positive response, ensure you get the agreed-upon terms in writing. If the outcome wasn't as favorable, ask for feedback and set a time to revisit the discussion in the future.

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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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Here's how you can secure a salary or raise in Employee Relations during challenging economic times.

1

2

3

4

5

6

7

1 Know Your Worth

2 Timing Matters

3 Build Your Case

4 Practice Negotiation

5 Alternative Perks

6 Follow Up

7 Here’s what else to consider

Employee Relations

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Here's how you can secure a salary or raise in Employee Relations during challenging economic times.

1

2

3

4

5

6

7

1 Know Your Worth

2 Timing Matters

3 Build Your Case

4 Practice Negotiation

5 Alternative Perks

6 Follow Up

7 Here’s what else to consider

Employee Relations

Rate this article

Thanks for your feedback

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