Folks,
This is a super article to help you prepare for a salary negotiation during difficult times such as these #covid19 times.
BY SUZANNE DE JANASZ
Suzanne de Janasz is professor of management and conflict resolution at George Mason University and director of executive negotiation programs.
Asking for a raise at a time when many organizations are grappling with the COVID-19 pandemic and an economic recession may seem counterintuitive. However, savvy employees recognize that tough economic times may offer unique opportunities to help their employer reduce costs, increase revenues, improve customer satisfaction, and enhance competitiveness. Perhaps while quarantining you’ve been forced to use once-forgotten (or newly developed) skills and capabilities that are now more valuable than ever—such as business development, social media marketing, process improvement, or project management. Improving a company’s bottom line during economic hardships can warrant a much-deserved raise. Remember, you don’t get what you don’t ask for. The challenge lies in how you ask.
KNOW YOUR WORTH
Your new or improved skill set is a great point of leverage for negotiating a raise, but how much should you ask for? Here is where you should reflect on your contribution to the company, what is valuable to you, and your options for receiving compensation for that value. Research salaries for someone with your responsibilities, education, and experience. Demonstrate your current and future worth by communicating inefficiencies that your ideas have reduced, or include new clients you’ve brought in
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