The world of work is quite interesting these days. Given the economy, inflation, repercussions from the global pandemic, it goes without saying trying to get a bit extra when it comes to compensation from your employer may be a bit, well, interesting. And, given cutbacks, replaced positions and more, some people who are contracted employees may find themselves waiting longer than before the 'dark times' to score a renewal, or even a raise.
Here's a synopsis of some stuff to remember - and which you can do - if you are in a situation where you want to get a raise, score a 'new deal' or add to your compensation package as the world continues to move through 'this stuff...'
1) Don't freak out. It's easier said than done, sure, but try not to let the 'voices in your head' manifest into you becoming dramatic at work. It's one of the fastest ways to show employers life may be better off without you buzzing around the office garden pollenating the at-work conversation with a "woah is me" mentality. Rather, keep your business to yourself, stay upbeat and positive and stay focused on doing what you are working to do, whatever that may be.
2) Don't be afraid to have conversations with other potential employers. It's been said that having conversations about possible other opportunities can lead to new opportunities, but don't have those conversations if your contractual situation has a window of 'exclusive' negotiations with your current employer. The fastest way to get yourself booted, or to lose leverage is to break the terms of a contract, but, conversely, playing by the rules, having conversations which could lead to an offer is the fastest way to potentially get more out of your current employer when it comes to your current job situation.
3) Don't be dishonest. That includes lying by omission. The fastest way to lose your leverage is to withhold the truth, or to be dishonest with your current employer. Be straight up. Lay your cards on the table, all of them, and maintain your credibility.
4) Remember compensation isn't always financial. Extra PTO. Stock options if your company is publicly traded. Different perks and the like are all things of value, so if a company plays the poverty card, remember, they can always come correct with something which could benefit you and your family situation.
5) Be willing to move. If a company knows you don't want to leave, or move up, or stay "married" to a city or town, that gives the company leverage. They know they've got you. Why? Because they know you don't want to move or grow in your company if they have opportunities in other places. The age of working from home ended when offices re-opened after the pandemic, and if you take a look at business research, you'll see that fortunes benefit those willing to go and grow.
6) Be honest about your side hustle. If you've got two or even three jobs, and your company doesn't know about them, that could be a bad thing for someone trying to get a raise. It all goes back to the 'honest' and not hiding your ambitions or reasons from your employer. If you can, keep your side hustle in the work family, if possible. Find ways to do more within the tent so the bosses know you are committed to them, and vice versa.
7) Remember - everyone is replaceable. Even you. If you come in asking for more than your employer can do, be prepared to hear no. It happens. Maybe it doesn't work out for you. Maybe it does. Just realize there is a replacement plan for everyone, in most every position.
Finally - and most importantly - keep your business to yourself. Not all employees are the same in the eyes of an employer, just as not all baseball players, or hockey stars, or football players, are the same. Sure, we're all people, but not everyone can be Tom Brady. Know your role, know that it's not your business to share your business with others around you. That can lead to resentment, and can work against you if you are working for a raise or a new contract or a new job. Employers take notes. They want to know that your business with them stays your business with them and they really don't want to deal with other colleagues or co-workers who pine away about so-and-so who got this or that. Keep your business to yourself and watch what happens.
One more thing: Never forget... the fastest way to get a raise or a new opportunity... is to get an offer, provided you can do so, and provided your company can match it. Yes, it could go a different way, but the fastest way to be wanted... is to be wanted by someone else. That's called leverage.
So, in these interesting times, there are ways you can play the game and win. For you, your employer, and family. Go get it done... and good luck!
HT: Fortune/Money/INC.