Regardless of position or responsibilities, every worker dreams of getting a raise. Whether or not this happens is based on many factors. Some companies provide a pay bump on a regular schedule, others complete a pay performance review to determine if the employee is worthy of more money.
A pay performance review can be stressful and full of tense moments. No matter how worried you may be, you need to take steps that improve your chance of receiving a raise or some other type of compensation. Learn how to ace your next review:
See also: How to Survive a Pay Performance Review
1. Show Why You Deserve a Raise
You should feel comfortable proving that you deserve a raise. You can do this in many ways, such as by providing data or statistics related to your performance over the past year. Don’t just talk the talk; make sure you walk the walk. For example, a salesperson can discuss their monthly quota and how often it was exceeded.
2. Discuss the Future
Don’t give off the impression that you will slack off if you receive a raise. Instead, talk about the future and the goals you have set for yourself and how these will benefit the company. Employers love motivated employees. Show your company that you are driven by more than money.
3. Understand the Other Side
Maybe you made some mistakes over the past year. Maybe you didn’t perform as well as you could have. You have to look at your situation from the other side of the table. If you don’t hear what you want, dig deeper to find out why. This way, you can feel good about the way things turned out, even if the review doesn’t go as planned. The information you collect now can help you perform better on the job in the future, thus helping you ace your review the next time around.
4. Take Constructive Criticism
No matter how well you performed in the past, there are always things you can do better. If the other party doesn’t offer constructive criticism, don’t be afraid to ask for feedback. Make it clear that you want to improve with each passing day. And most importantly, don’t take this criticism to heart. Use it to your advantage, as it will benefit both you and the company you work for.
5. Have an Open Mind
The way you expect a pay performance review to work out may not be the same as the person conducting it. If you go into a review with a particular idea in mind, such as a set amount of money you want to earn, it could backfire. Keep an open mind, as you never know what you will hear.
Some people look forward to a pay performance review, while others dread this as they are nervous about what’s to come and how they will respond. If you follow these five steps, there is a better chance you will ace your review. Do you have any additional tips to share for people facing this situation?