5 Steps That Could Secure a Good Salary Hike For You

As the year is coming to an end, many corporate companies are buzzing with the word 'appraisal'. With major organizations and e-commerce firms reshuffling their employee structure to raise competency or opting for cost-cutting amidst a bleak job scenario, the much-awaited hike is looming in the dark. Although every company has its own criteria to evaluate employee performance and prepare an appraisal list, the basic fundamentals to determine this remain almost the same. Also, it is the time of the year when your colleagues or peers are considering changing jobs to try their luck for a bigger package. With so many things happening around, the mind is bound to go fuzzy with questions like 'What is the current industry value for my position?,' 'What are my future goals?' or 'Do I need to stick to current workplace or make a switch?.' Decluttering all these thoughts and seeking chance to prove your worth with an open mind can assist in securing a fair hike without job hopping this year. Here are ways in which you can become a prolific and important employee as well as get a raise in the current organization.

Steps That Could Secure a Good Salary Hike

5 Steps for a "Good Salary" hike are :

1. File your achievements :

Before you fix that appointment to discuss your impending hike with the boss, gather facts and figures. In this way, you will have strong reasons to prove that why you are worth of a hike in salary, and it also reflects your enthusiasm for the company's future. Maintaining a record of significant accomplishments avoids recency bias and the boss cannot refute hardwork you have put in to get those impressive results. You are trying to make an impact with the whole entity, so do your homework well.

2. Go beyond the KRAs :

Sticking to work ethics and concentrating only on tasks assigned to you could be a major reason for your pending pay hike. If you are a team player and the 'go-to' person amongst colleagues from different departments for the most trivial problems, it could be the deciding trait between a good and an average increment. Having attributes like flexibility, multi-tasking attitude and ability to become the right hand of your boss, he or she would definitely become dependable on such a trusted employee and would not want the person to leave the organization at any cost. If you are a reliable and trustworthy person, rests assured you will get your worth.

3. Become a solution finder :

While workplace challenges are normal and the client demands can be absurd, no boss would appreciate an employee who only talks about problems and impossibilities. If an employee is constantly making mistakes or demotivating others to find a solution, the boss wouldn't hesitate to show him/her the door. Imagining out of the box and thinking new solutions will make you a commendable employee and get you in the forefront for a salary hike. Employees with problem solving skills always have a favorable position in boss's mind.

4. Be in good books of the boss :

Staying committed to work and being punctual are small things but are definitely noticed. If you have been a consistent and an exceptional performer, but receive no particular comment from boss, chances are you are lacking in efforts. Determine where you are lagging and what is being expected. Understand your bonding with the boss and try to build a good rapport. You need not become a complete flatterer just to impress, but being on good terms with boss can go a long way in getting a promotion.

5. Assess and reinvent your skills :

Taking efforts to track your productivity levels not only helps the boss to understand the quality of efforts you are putting in but also assists to grow professionally. Constantly upgrading your skills and keeping abreast of the latest developments in your field will give you an upper hand over others and the company will take the right steps to retain you.

Employers keep an eye on employees who are investing time in their career by doing professional certifications without organizational support. Give hints to boss that you are ready to take new challenges. Know the rationale process and the percentage salary hike given in your office before setting up an appointment with the boss.