How to Secure Your Next Promotion/ Raise

 

Are you looking for a promotion? Perhaps you’re feeling antsy or even trapped behind your current position and feel yourself wanting to scream, “I CAN DO MORE!” Or maybe you’re already doing things above and beyond and looking for extra compensation.

First, ask yourself 3 questions:

  • Am I excelling at a high level?
  • Do I make everyone around me better?
  • Do I have a positive attitude?

If you answered YES to all the above, let’s work on that promotion.

Create a Plan

Promotions aren’t given out spontaneously. Businesses can go through ample changes throughout the year and promotions are given based on organizational growth or replacement. When it’s time to hire for this open position, you must be ready.

Developing a plan will make it easier to achieve this.

Research Your Position

If you’re an engineer working in a large city, chances are you’re making more than an engineer of the same title living in a smaller town. Same applies with Chicago and New York.

How about those newly acquired skills you’ve attained since you were hired? How are those matching up with other professional salaries?

By doing research on how your role is compensated at other companies, you’ll have a baseline when you speak with your supervisors about receiving a fair market compensation for yourself.

Keep a Record of Your Accomplishments

This may seem obvious, but you would be surprised how many people aren’t able to come up with specific metrics when it comes to why they deserve a promotion. Get in the habit of recording your achievements at the end of every week in a running document. This will also help you recall all of your accomplishments when the time comes to make your case to your supervisor.

Be Ready

Finally, be ready to speak about your accomplishments and the skills you’ve learned. You never know when you’ll get the chance, but you’ll regret it if you miss the opportunity. Having created a plan puts you in the driver’s seat for having an honest conversation with your boss about your future.

Think Outside the Box

Sometimes, in order to get what you want, you need to get creative. You might even want to use additional resources available to you.

Something to consider: In the job market today, those that stay in their jobs are receiving wage increases at a rate of 1% faster than inflation. The average increase in compensation for a worker who quits their old job for a new one? A whopping 15%.

Hopefully, you’re able to secure a promotion or raise at your current employer, but if you fail to, don’t take it too hard. Just because your current employer doesn’t have an opportunity for you doesn’t mean another company won’t.

Work with a Recruiter

If you don’t receive the pay bump or promotion you were hoping for, try working with a recruiter to seek a position elsewhere. Working with a recruiter offers you access to their vast network of relationships with employers.

At the Forum Group, we pair place candidates in the following industries:

  • Accounting, Finance, Taxation, and Audit
  • Compliance and Regulatory
  • Information Technology
  • Marketing, Market Research, and Creative Services
  • Human Resources
  • Healthcare
  • Administrative and Executive Support
  • Legal Staffing

Are you ready for that promotion? Contact the Forum Group today.

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