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55 percent of Kiwis envisage asking for a pay rise: Here's how

Contributor:
Fuseworks Media
Fuseworks Media

Fifty-five per cent of skilled professionals say they intend to ask for a pay rise in their next review, according to the 2018-19 Hays Salary Guide.

In comparison, in their last review 22 per cent of employees successfully asked for a pay rise and 16 per cent did so but were unsuccessful.

This follows news that salary increases will be thin on the ground this year.

In response, two-thirds (69 per cent) of employees say a salary increase is now their number one career priority.

"The expectations of New Zealand’s skilled professionals are out of step with employers, which is leading many people to take the initiative and request a salary increase if one is not forthcoming," says Jason Walker, Managing Director of Hays in New Zealand.

"New Zealand’s labour market performed strongly over the past year, characterised by falling unemployment and good job opportunities. Permanent and temporary hiring intentions suggest further employment gains and increasing business activity in the year ahead. Employees certainly see this as a good time to ask their boss for a pay rise."

How can you secure a salary increase? Jason says preparation and evidence of achievements that exceed your objectives are key. "Use your accomplishments and the value you add to the organisation as the basis of your negotiation. In this way, you’ll clearly demonstrate your worth and will be in a stronger negotiating position."

Hays suggests you:

Prepare a list of your recent achievements that exceed your objectives; you may need to look back at your original job description. Also list any changed or rising work volumes or duties you’re now undertaking and consider projects you’ve been involved in.

Then list the resulting benefit to the company of your results. The aim here is to provide strong evidence to support the value you provide, so focus on outcomes.

Then research the salary you feel your performance and results are worth by reviewing a recent Salary Guide. This enables you to support your request with evidence and demonstrate that the salary you are asking for is in line with current market rates.

Ask your manager for a meeting to review your salary. When it comes time for this meeting, keep it professional. Stay calm and focused. Do not become emotional and do not talk of how much money you need to cover your costs.

Have a fall-back position. If your employer cannot afford to increase your salary, can you agree a date for another pay review in three or six months? What about additional annual leave, study or other benefits?

The annual Hays Salary Guide is based on a survey of 486 organisations in New Zealand representing over 181,000 employees.

Get your copy of the 2018-19 Hays Salary Guide by visiting www.hays.net.nz/salary, contacting your local Hays office or downloading The Hays Salary Guide 2018 iPhone app from iTunes.

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