How to negotiate a salary increase this year?

How to get a salary increase this year when only 55% of employees expected a salary increase in 2021. Fuelled by the pandemic, a record number of people have been (and are expected to continue) leaving their jobs. Economists have given this phenomenon a name – The Great Resignation. While the reasons included burnout, the need for better work-life balance or looking for an organisation with a better culture, one of the primary motivators for a move this past year was a change in salary.

Negotiate Salary Increase

As per the Hays GCC Salary & Employment Report, only about 55% of employees expected a salary change in 2021. However, the good news is that things are looking better this year, with 73% of employers anticipating increased salaries in their organisations. So if you want to cash in on that, here are some ways to get a raise this year:

• Check sources like Payscale, LinkedIn and Glassdoor to find the current market rate of your job elsewhere. Also, ask current and former employees in similar roles about their salaries.
• Get a competing offer and see if your company will match it.
• Be ready with a list of your accomplishments and why you are so indispensable. Include points and examples about how you stepped up during the past couple of years.
• Practice your pitch. Prepare for counter questions and a rejection, in which case – be ready to request some non-monetary options like additional annual leave, remote working or flexible hours.
• The time is right. Consider the company's financial situation and review cycle. It's also a good idea to ask for a salary increase soon after you've achieved something. 

While here in this blog, we have shared tips for employees on negotiating a salary increase, we also have something for the HR professionals. But, of course, the HR professionals will have to negotiate when the employees ask for more; at Bradfield, we offer courses suited for individuals at any stage of their HR career. So if other employees are learning how to get better salaries, you as an HR employee can learn how to take better care of their needs. So explore our CIPD courses and build your expertise in the HR field.