Crisafulli Business Coaching

3 Things to Consider When Your Employee Asks for a Raise

Reading Time: 3 minutes

During your time as a business owner, there will inevitably come a day when one of your employees asks you for a raise. Being the boss and having the final say usually doesn’t make this conversation any easier. Let’s face it, most people avoid the topic of money altogether because they are too intimidated to initiate the tough discussion. While knowing how to ask for a raise is important, it is equally imperative that a business owner understand what they should expect from an employee who is asking for more cash.

During your time as a business owner, there will inevitably come a day when one of your employees asks you for a raise. Being the boss and having the final say usually doesn’t make this conversation any easier. Let’s face it, most people avoid the topic of money altogether because they are too intimidated to initiate the tough discussion. While knowing how to ask for a raise is important, it is equally imperative that a business owner understand what they should expect from an employee who is asking for more cash.

Money talk doesn’t have to be uncomfortable if your employee comes prepared with the right information. Here are three things to consider when your employee asks for a raise:

1. Did they present you with a list of their recent professional accomplishments? If your employee is going to ask for a raise, they should be prepared to tell you why they deserve a raise. Request that they leave personal reasons such as mortgage payments, family obligations and the cost of living at the door. Instead, your employees should show you what they have accomplished during their tenure and the positive impact they’ve made on your business. Also, don’t be afraid to ask them to bring hard numbers to the table. For example, if the employee and their team increased sales by a certain percent, hit every single one of their personal sales goals or improved web traffic by leaps and bounds—no matter what the win—ask them to share that you. It will make your final decision about whether or not to increase their salary that much easier.

2. Did they do the research? There are a number of websites such as Glassdoor that provide salary ranges that can be categorized by job title, demographic and more. If your employee is smart, they will have researched the high and low salary ranges for positions that are most similar to their own. That way if their income is extremely below the area average, this will provide you with a stronger reason to consider an increase in salary.

3. Did they exude confidence? The only thing that is more convincing than hard facts is attitude of your employee. If they know they have put in the hard work and truly deserve a raise that confidence will shine through. Don’t shy away from the having the hard conversation. Ask your employee to convince you that they are not being unreasonable based on the work and dedication they have shown.

If your employee doesn’t come prepared with this information, request it from them and reschedule the meeting. That way you will have all the necessary facts to make a decision about a potential raise. Also, don’t be afraid to turn down an employee’s request for a salary increase if they aren’t performing to your standards. Take the opportunity to coach them and better their performance.

Want more tips about how to have hard conversations with your employees? Setup a one-hour free consultation now to see how I can help. Click here to e-mail me today.

Let's talk

Useful links

Home
Meet Jim
Business Services
Testimonials
Blog
Contact
HTML Sitemap

Locations

East Matunuck, Rhode Island, USA

Crisafulli Business Coaching

Copyright © - 2024 Crisafulli Business Coaching | Website by Engage Web