SALARIES / AUG. 15, 2014
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How to Exchange a Raise for Perks

Even if you are the best employee at your company, there might not be enough money in the budget to provide you with a raise on your salary. But don’t let this stop you from achieving the status you deserve. When this is the case, there are some other things you can negotiate with your boss that will make your work life better.

Perks Can Be the Ticket to Getting More at Work

There are often a variety of things that are considered work perks. Some companies use them to lure top talent in the industry while other companies use them to keep current employees on the payroll. Either way, while they don’t add to your paycheck, there can be ways to get more out of your current salary or enhance your life. Oftentimes, perks are not brought up unless you ask about them during your annual performance review. You have it within your power to ask about them if a raise is not in the immediate future. 

Discuss Your Value to the Organization 

One of the first things you need to do is talk with your superior about the value you bring to the office each day. This can include you providing documented evidence of achievements you have reached at the office. Make sure the conversation stays calm, especially if you are told right away that a raise is out of the question. Let your boss know that you have other ideas in mind instead of a raise.

Provide Options to Your Boss

When you try to exchange a potential raise for perks, make sure you have some ideas ready to discuss. Try to think of the things that could make your current or future role at the company more successful and productive. These perks can include one or more of the following:

  •          Working from home one or more days per week
  •          Attending conferences within your industry to earn knowledge
  •          Registering for training certification or attending college classes
  •          A higher level job title that earns you some respect
  •          Added vacation time off or flexible personal days
  •          A new office, technology, or furniture
  •          Entrance into an employee awards program
  •          Membership to a local gym or wellness services
  •          Childcare provided by or paid for by the company
  •          Discounted movie, concert or sporting event tickets
  •          Discounts on personal electronics or work related needs
  • Travel or vacations paid for by the company 

Be Realistic When Negotiating

When you are ready to negotiate perks instead of a raise, make sure you are realistic. The first thing you need to think about is the type of job you currently hold. If you work a job that will absolutely not allow you to work from home, do not even attempt to ask for such a perk. But, if you work as a writer or an IT specialist, you have a job that can be done from home. Be reasonable and think of some of the current benefits and perks that other similar employees have access to. 

Do Not Wait to Have the Conversation

An important tip in this process is not to wait to have the conversation with your boss about increasing your perks. Keep an open line of communication with your superior so he or she knows how dedicated you are to your job and the company. Talk with your boss about your career goals so there are no surprises when it comes time for your annual review for either of you.

It is possible to exchange a raise for additional perks at the office. Just speak up and make sure your boss knows what you are thinking and what you are looking for right now. Then be proactive about asking for what you want. 

Image Credit: © iofoto - Fotolia.com

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