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Have you taken on more responsibilities in your role but are not being financially rewarded for it? Here are some tips on when and how to broach the topic of salary adjustments with your employer.
Research from specialised recruiter Robert Half showed 79 per cent of Australian employers had given their existing employees extra responsibilities in order to keep their business operating effectively. Despite this, 45 per cent have not provided a financial incentive for doing so, including via a pay rise or a bonus.
Here are some tips from Nicole Gorton, director at Robert Half, if you’re one of those employees who’s found themselves being part of the trend.
1. Understand the context/find out why
“If your employer has given you extra responsibilities outside your role responsibilities, but they have denied a pay increase, find out why,” Ms Gorton said.
“It could be a matter of them trialling you for a promotion, or it could be that the salary budget does not allow for a pay increase in the immediate future. Understanding the reasoning for this decision can help you formulate an action plan. Ensure the action plan has been agreed to in writing.”
2. Consider the bigger picture
“Before thinking the extra responsibilities without extra pay aren’t worth it, think about how this could help your career progression and skills development.
“Are you learning new and transferrable skills that can be used in the future? Are you learning leadership skills and how to empathetically manage a team?
“Understand how these extra responsibilities could be helping you long term and see if this is something you would like to build on,” Ms Gorton said.
3. Get a timeline and clarification on objectives/goals
“Speak to your manager about when a pay review can be booked in,” Ms Gorton advised.
“Having an agreed timeline on when the conversation can happen again will give you peace of mind knowing your employer has not forgotten about your request. At the same time, identify what goals and KPIs will increase your chances of securing a pay increase.”
4. Negotiate for other benefits
“Salary negotiations often include employee perks and benefits,” Ms Gorton said.
“If a pay increase is not a possibility at the moment, asking for extra leave days, flexible hours or a work-from-home schedule can be a way to get compensation for your extra contributions.”
5. Know your worth
“Enter a salary negotiation as informed as possible,” Ms Gorton said.
“To get a current, realistic view of the compensation landscape for the role, consult the Robert Half Salary Guide. The Salary Guide lists the current market rates for positions in finance, accounting, technology, HR, marketing, and business support.”
6. Decide when it is time to move on
“If you are unable to secure compensation for your extra responsibilities or get any clarification when your salary could be reviewed, it might be time to think about whether or not you would like to stay with your employer or look for another job opportunity,” Ms Gorton concluded.
