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Making the Case for You in an Improving Economy By Paul McDonald July 2010 (SmartPros) As the economy begins to show signs of improvement, many professionals may be ready to approach their employer about the possibility of a raise or promotion, a topic most employees didn’t dare broach during the worst of the recession. Especially if it’s been awhile since you received a salary increase, or if you’ve had to take a pay cut, it may be a good time to highlight how you’ve been instrumental in helping your company pull through a tough period. Whether you have a performance review coming up or request a special meeting with your manager to discuss your future with the firm, here are some specific reasons you may be able to make a persuasive case for greater recognition: • You’ve gone above and beyond your job description. If your job duties have expanded in recent months, you have good reason to ask for a salary increase, a more prestigious title, additional perks – or some combination of these things. In past economic environments, additional responsibilities have typically translated into more pay, so assuming your company’s prospects have stabilized, your employer is unlikely to fault you for asking to be compensated for the increased value of your contributions. Outline specifically how your role has changed and how the company has benefited as a result. For instance, if you’re been doing the combined job of controller and assistant controller for 18 months with no end in sight, point out the savings the company has been able to realize, in addition to highlighting your notable accomplishments. • Your salary hasn’t kept pace. Although accounting and finance salaries have, in general, remained flat in the past year or even seen declines, certain specialties – tax, compliance and financial analysis, for instance – have held strong or even seen slight gains. If you have skills in sought-after areas or can demonstrate that your salary has not kept pace with comparable positions at other companies, you may be able to make a strong case for a raise. Research the current marketplace by checking new job postings, Robert Half International’s annual Salary Guide for accounting and finance professionals and salary data websites. Although many employers are still reluctant to offer sizable raises, reasonable requests for a higher salary may be met. A recent Robert Half survey found that 40 percent of hiring managers interviewed said they would be willing to offer more money to retain top performers when the economy improves. • You’ve delivered results. If you’ve found innovative ways to cut costs or reduce expenses during the downturn, point to your specific accomplishments and attach numbers to them. Your ability to quantify your efforts can be a strong selling point and a way of ensuring that the discussion remains focused on the value you’ve brought to the company. Although there is nothing wrong with tooting your horn – in fact, it’s probably well overdue – just be careful not to come across as arrogant or entitled. An overbearing manner will undoubtedly work against you. • You’re highly marketable. Companies realize that their ability to capitalize on improving conditions depends largely on having experienced and highly skilled workers in place. With this in mind, employers are likely to become even more focused on retaining top performers. If you fit into this category, your odds of being rewarded for your recent contributions should be particularly good. Even in a still-fragile economy, advancement in salary or position is achievable, especially for team members who have a proven track record of success. It’s possible though that your manager may not be able to act on your request right away for budgetary or other reasons – no matter how receptive he or she may be to offering you a substantial raise or an elevated role. If this is the case, remain professional and respectfully inquire as to when the issue can be revisited. Your boss should be willing to give you an honest answer, in addition to candidly discussing what the future may hold for you at your firm. In the meantime, you will have provided him or her with some persuasive points to mull as your company readies itself to respond to improving conditions. Paul McDonald is the executive director of Robert Half Management Resources, North America’s largest consulting services firm providing senior-level accounting and finance professionals on a project basis. For more information about Robert Half Management Resources, a division of Robert Half International, visit www.roberthalfmr.com. Follow Robert Half Management Resources on Twitter at twitter.com/roberthalfmr for industry news and workplace and career advice. 2010 SmartPros Ltd. All rights reserved. Source: Robert Half Management |
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