A labor lawyer has urged Britons struggling to cope with the rising cost of living to speak to their manager about raising their pay. Although asking for a pay raise can seem daunting to many, George Miller, a certified legal executive at Richard Nelson LLPcalled on people to have an open and honest discussion with their employer about their salary.
He said: “With inflation hitting its highest level in 40 years, it’s understandable that many people are worried about their finances and feel like they have nowhere to turn. While Britons may feel uncomfortable asking their employer for a raise to help them cope with the rising cost of energy bills and fuel prices, this is definitely a conversation we would encourage people to have.
“Generally, there is no fixed way for employees to ask for a raise. Some people think it is more difficult to refuse a request made face-to-face, although you may want to make your request in writing in order to have a record of it and any response.
“What’s important is that you make sure you justify why you’re asking for a pay rise – wages are rising across the economy as companies compete for candidates, so you may be able to -be show that the market rate for your role has increased.” With research from the Chartered Management Institute (CMI) revealing that nearly half of UK companies are not offering or planning to offer pay rises to their staff, it is clear that it is up to employees to address topic as the cost of living crisis deepens.
In fact, Google searches for “how to ask for a raise” have increased 35% in the first four months of this year compared to the last four months of 2021. Andrew Carr, director of marketing and digital division at Gleeson Recruitment Groupbelieves that wage increases are not the only way for companies to financially support their employees.
He said: “I think it’s important to note that while employers can’t afford to offer all employees a pay raise that effectively tackles the rising cost of living, there are other ways to provide support.For example, financial literacy and education along with expert guidance is a great inclusion in any rewards and benefits plan, as well as actions such as l increase in pension contributions.
Mr Carr also outlined his top six tips for asking for a raise.
6 keys to negotiating a pay rise at work
Be ready to ask the question
Although we know that money is the main motivator for most UK employees, research shows that less than half have actually asked for a pay rise. Even if your request is denied, the conversation will give you the opportunity to discuss and demonstrate the value you add to your business, and will open a dialogue that you can revisit in six or 12 months.
Describe your recent accomplishments
Take the time to review everything you’ve accomplished in the past 12 months or so, including projects that made a measurable difference or those where you exceeded defined key performance indicators (KPIs). Put this in a format that will make it easier to present and discuss during your conversation, and be prepared to highlight the effort you’ve put in and the specialist skills required for each task.
Have the conversation in person
While it may be tempting to broach the subject over email, asking for a raise in person has been shown to have a much higher success rate.
Study your market value
Before you broach the subject of a raise, check salary guides for your industry, talk to recruiters, and come up with a realistic number. Your request has a much better chance of succeeding if you can demonstrate that what you are asking for is fair and reasonable.
Discuss expanding your roles and responsibilities
If you’re asking for a raise, be prepared to take on more responsibility along with a raise. It’s also a good idea to come into the conversation with suggestions for how your role can be developed and expanded.
Describe your ideas for the future
Demonstrate your passion and enthusiasm in your salary discussions by presenting your plans and ideas for the future of the company. By tying your raise request to what you’re going to deliver and the value you’re going to bring, you give your manager every reason to say yes. You will also provide them with additional material to make your point to senior management if that is what is needed.