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Pay Negotiation: Building a Case for Salary Increase First a job is documented by a hiring manager who writes a job description. The hiring manager talks to their senior leader and gets approval to hire someone into the job. Then HR/Compensation evaluates the job.  This means they do research to figure out what other employers are paying for that job to be performed. A pay grade is assigned to the job so there is now a base salary range and short-term incentive target (bonus or sales commission) that can be offered to a new hire. Next, a candidate is selected based on their qualifications and performance throughout the interview process. And HR/Compensation and the hiring manager determine what base salary to offer the candidate. Ideally, the candidate accepts the total compensation (base plus bonus or commission), and the start date is agreed upon.  If you are unhappy with the total compensation you received as a new hire, know that once you prove that you can meet or, better yet, exceed the expectations of your employer you can ask for a base salary increase. But the “ask for more” needs to be based on the following: 1.        What are the company’s biggest goals? What are the obstacles to those goals? 2.        What are you doing in your job to help the company achieve those goals and overcome those obstacles? This is your value story.  Once you share that with your manager, then you can ask for more money.  But if you lead with “I want $X” without putting your ask in the context of that your employer cares about, you will be told no again and again. And timing matters. Start having this conversation with your manager six months before the merit increase and performance conversations happen. It takes time for your manager, HR, and your manager’s boss to all agree on giving you a higher base salary increase. https://lnkd.in/di9usEJ8 #payincrease #compensation #rewards #hr #humanresources #jobevaluation #jobdescriptions #paynegotiation #negotiation

AI ➡ The Secret Weapon in Effective Salary Negotiations (+ free prompts to negotiate your salary in the original post 😃 ) You can now use AI for your salary negotiations. Enduring the interview process can be a rollercoaster, filled with highs of anticipation and anxiety, especially when discussing money. This phase is usually filled with uncertainty and power imbalances. Many candidates feel vulnerable and undervalued. The range provided in job descriptions can be too broad. No wonder many enter negotiations without insider knowledge. Unfortunately, this situation is all too common. Friends, family, and co-workers often cannot provide informed advice to navigate this challenging landscape. ➡ Value Yourself Correctly For Swift Salary Negotiations The main stumbling block in salary negotiations is not just the stress of the process but the profound lack of transparency and information. Organizations have their negotiation systems. However, the common thread is the significant difference in power between employers, who have complete visibility into their compensation structures, and job seekers, who often venture into negotiations blind. This lack of knowledge can lead to disastrous outcomes, from accepting lowball offers out of desperation to overreaching and risking the offer altogether. The fear of being perceived as greedy or difficult complicates the issue. A significant percentage of candidates avoid negotiations entirely, potentially leaving considerable amounts of money on the table. ➡ Using AI Help For Salary Negotiations AI can level the playing field. For example, FairComp provides employees with access to verified compensation data, empowering them to make informed decisions. Companies routinely invest in compensation data but keep these insights from their employees, perpetuating the information asymmetry. FairComp’s AI-driven approach seeks to counteract this by offering a platform where employees can understand their market value and negotiate from a position of strength. 🎉 Use AI to Prep Salary Negotiations (Continue Reading to find the Free Prompts) - https://lnkd.in/gsmHwmJx ⭐ You can also get my book: https://lnkd.in/enDP5NQu #AI #chatgptprompts #chatgpt #artificialgeneralintelligence #aiatwork #resumewriting #cvwriting #jobhunting #layoffs #jobsearch #jobsearchstrategies #kindlebooks #kindlebook #indieauthor #chatgptprompt #aicommunity #indiepublishing #jobsearchtips #redundancies #redundancy #aiinhr #AIadvancements #newcareer #newcareeropportunities #AIinHR #gethired #aiinrecruitment #AIadvancements #newcareer #newcareeropportunities #AIinHR #AIinterviews #gethired #aiinrecruitment 

How AI Can Level The Playing Field For Workers In Salary Negotiations By Jack Kelly Job applicants sometimes struggle to figure out how much their knowledge and experience are actually worth. Moreover, the lack of accurate salary data available places candidates at a disadvantage. It’s easy to shoot too high or go too low. When dealing directly with a manager or HR, it’s likely that you will avoid pushing too much because you don’t want to be perceived as a difficult person. Similarly, if you fight tooth and nail for counteroffers, it could also make the hiring manager feel that you are just using the position as a jumping-off point for more money, and don’t actually care about the role. According to research from CareerBuilder, 55% of job candidates do not engage in negotiations for higher pay with their new employer because they are uncomfortable (53%), afraid the company will rescind its offer (48%) or do not want to be perceived as greedy (38%). When you view salary negotiations as personal rather than business, your emotions can cloud your judgment. You may walk away from a great career opportunity and come to later regret it, especially as CareerBuilder found that a majority of employers (73%) are open to salary negotiations on a job offer. To learn how to make salary negotiations more equitable, Jack spoke with Nolan Church, an experienced talent acquisition and recruiting professional who founded FairComp, an AI-powered software that verifies compensation data and tools to help employees make better, more informed employment decisions and earn the money they deserve. https://lnkd.in/eCDs8YkZ

Good Morning! 🎉🎉🎉 The HAYS 2024 Salary Guide & Hiring Trends is now available. 📈📊📚 Get your free copy of the guide by emailing Saoirse.olooney@Hays.com This guide covers everything from salary bands, to the latest in DE&I and the impacts of AI in the workforce. We have uncovered the reasons why 71% of employees are looking to change their role this year, Don't miss out on this valuable resource! #salaryguide #hiringtrends #salarynegotiation

How AI Can Level The Playing Field For Workers In Salary Negotiations via by Jack Kelly Forbes To learn how to make salary negotiations more equitable, I spoke with Nolan Church, an experienced talent acquisition and recruiting professional who has previously worked at Google and DoorDash, in a video interview. As a former head of recruiting and chief people officer, Church has been on the other side of the negotiation table. “I felt a moral dilemma about how many people got screwed over because they were lowballed and didn’t negotiate,” he stated. “When I started talking openly about the issue, I heard story after story about people who found out they were making significantly less than their peers.” Looking for a way to champion workers, Church built a startup called FairComp The company’s mission is to offer verified compensation data and tools to help employees make better, more informed decisions and earn the money they deserve—based on their background, experiences and talents. FairComp’s AI-powered software helps people understand their market value and how to negotiate. “Employers pay tens of thousands of dollars a year for access to industry compensation data,” said Church about the incongruity of salary negotiations.  “Every employer that accesses the data is required to upload their company compensation data to the master dataset. That compensation data is never shared with employees. Employees only have access to their colleagues—a small sample size—or online resources, which is inaccurate and unverified.” One of the main issues regarding salary transparency is that people are uncomfortable talking when it comes to discussing money and compensation, as it’s still seen as a taboo. Since there isn’t an open conversation, the job seeker is at a loss. “If employees don’t talk about compensation, they’re left in the dark. HR teams are built to support the company; employees have to support each other. Having candid discussion about current compensation, compensation trajectory and performance history can illuminate discrepancies that would otherwise go unnoticed.” https://lnkd.in/exqtP-6P 

Job Search Tip #4 Solid AI Prompt for Salary Negotiation There are several good ones, here is a great starter: Salary Negotiation Prompt “What are some tips for negotiating a higher salary for [job title]?” #salarynegotiation #jobsearch #careercoach #careercoachingforwomen If you found this helpful, please reshare and like! 😊

Ready for a well-deserved raise? Don't let the conversation with your manager turn sour! SAVE THIS POST!💯 Requesting a salary increase can be a delicate matter, but we've got you covered. 😁 Follow our 3⃣ proven frameworks to navigate the process with confidence and secure the recognition you deserve. 💯 Stay tuned for more expert tips and tricks to enhance your employee journey on Careerflow.ai #salarynegotiation #salaryraise #negotiate #careersuccess #appraisal #appraisals #careerflow

Here are the TOP 3 excuses  For underpaying employees  (And what they really mean) We’ve all heard them. Job offers statements that sound reassuring but in reality… Mean something else entirely. Here’s my top 3: We want you to grow with the company Translation: The salary is sh*t and we’re hoping the ping-pong table makes up for it. We need to stay in line with internal salary bands Translation: We’re underpaying the whole team. There’s plenty of room to grow in this role Translation: We’re underpaying now, hoping you’ll stick around. Look, if there’s one thing I’ve learned over 30+ years in recruitment, it’s this: Paying people what they deserve makes absolutely perfect financial sense. And underpaying? It hurts everyone, including your bottom line.

Good Morning! 🎉🎉🎉 Reminder: The HAYS 2024 Salary Guide & Hiring Trends is now available. 📈📊📚 Get your free copy of the guide by emailing Saoirse.olooney@Hays.com This guide covers everything from salary bands, to the latest in DE&I and the impacts of AI in the workforce. We have uncovered the reasons why 71% of employees are looking to change their role this year, Don't miss out on this valuable resource #salaryguide #hiringtrends #salarynegotiation

Salary negotiation can be tough. No one would be happy to receive under value salary and no company would like to over pay. Use these tips to find the right pay you deserve. #SalaryNegotiation #Tech #UpliftHub