Most people go into a performance review thinking about the raise they’ll get. But, if you’re a top performer, you might not have to wait until your next scheduled review. When it comes to asking for a raise, it’s vital to strike while the iron’s hot and your performance is top-of-mind.
When is the moment right? Have you recently closed a big sale, finished a big project, or received accolades from co-workers and the bosses? When you’re being praised for your actions, that’s the perfect time to discuss the value you bring to the company. State your case in a one-page memo that highlights why you should be rewarded.
How valuable are you? Companies reward top performers who can demonstrate their return on investment. How did you contribute to the company’s bottom line last year? What are your plans for this year? When you look at your value in terms of what you’re saving the company or making the company, you can make a strong case for a raise. For instance, if you saved $80,000 by reducing printing waste, a raise might seem in order.
Leave with an answer and a plan. Don’t expect an immediate yes or no. More than likely, your supervisor will want to get back with you. But, don’t fall for the brush off line, “I’ll have to get back to you.” Don’t leave until you have a follow up plan in place. Schedule the next meeting immediately.
How have you demonstrated your value? Have you been successful? Are you still waiting for your supervisor to get back with you? In part three of this series, you’ll learn how to overcome objections.