How to negotiate your end of year pay review

How to negotiate your end of year pay review

December is fast approaching and the subject of pay is just around the corner. Pay reviews and the topic of a pay rise, whilst beneficial to you, can feel really awkward and be very nerve-wracking. What tends to be the most difficult part of the process for a lot of people is putting a price on their value to the company.

There are sensible ways of breaching the subject. Here is a three stage breakdown of what you should be doing to improve your chances of landing that pay rise.

Stage One – The Preparation
First things first, make a record of your daily contributions. You need to be aware of what you have done for the business. All your achievements should be recorded no matter how big or small, anything that is considered outside your daily duties.  It is better to break big projects down into sections to show how much time you spent on the project as a whole and visually looks more impressive.

A form of good practice can be to keep a weekly record of your completed tasks. It can be quite difficult to go back over the successful elements of your performance at the end of the year. Another great thing to take note of is how you approached each task, how you managed the task, how long it took you to complete.

Stage Two – The Communication

A list as mentioned above is a great form of communication to your boss alone but there are other ways of illustrating your success that can work alongside your document as further evidence. Breaking down your time spent and showing it in the form of percentage can show your manager that you are able to manage your productivity.

It is important in this exercise to include all aspects of your role even if it’s 2% filing and organising documents. If you know how you can easily input the data, you come up with into a spreadsheet and produce a diagram that clearly shows your thinking for extra points.

Stage Three – The Meeting

The day arrives and with all your supporting documents, you are ready to get down to business. The main thing to remember is that you deserve this pay rise. If you do not believe in yourself, your ability or your worth then you will find it difficult to convince someone else that you deserve more from your role.

Timing can be very important, avoid approaching the subject first thing on a Monday or last thing on a Friday when your boss is most likely to be preoccupied. Also suggest taking the conversation outside the office on a more mutual ground, if you hold the meeting in your boss’s office, it is their space and they may feel more in control or they are more likely to get distracted with phone calls and emails.

It’s important to keep in mind that with a pay rise comes with higher expectations of your performance and an increase in responsibility.

It’s not all doom and gloom
Sometimes, pay reviews do not always go the way you wanted to or there may be other elements behind the scenes that prevent you from getting that pay rise. At this point it is important to not get demotivated and make the most of the full time you have set aside with your manager and ask what you can do to improve your performance. Take on board the criticism and advice, set targets and ask to have the conversation again in the near future. Your seniors may appreciate your professional approach and it will keep your options open.