Negotiating a Pay Rise: Building a Business Case by Nisa Chitakasem

Negotiating a Pay Rise: Building a Business Case When trying to negotiate a pay rise, there must be evidence to support your case and to support why you deserve it. One’s pay or reward package overall is part of an economic formula which is based on the value that you bring to an organisation relative to the costs of employing you. With this in mind, when building a business case, making your value clear and showing what you bring to your organisation is crucial. 4 Key Questions:  In this worksheet we have outlined 4 key questions for you to answer in order to help you build your business case: 1) What have you been doing? 2) What impact have you had? 3) What measures support your case? 4) Who can endorse you?

We will then take a look at some final points for you to think about and to help you with your future negotiations.

Question 1: What have you been doing? We are asking this question in order for us to establish what you have been involved in, what you have agreed to and what you have achieved so far. You may want to explore:

What tasks have you agreed to undertake?

What objectives / goals have you agreed to?

What projects have you been involved in?

What additional responsibilities have you taken on?

Who have you been interacting with?

Question 2: What impact have you had? Impact is the perception as well as the reality of what you have done. What we want to do here is to establish where and how you have contributed and played a part to your organisation and in your role. Identifying your areas of big impact will help us to understand your value.

What has been achieved through your work and contribution?

What has been or is more effective / efficient given your presence?

Who have been affected or influenced by your work?

What is being done differently in your team/division given your impact there?

What problems have you solved and why are they important?

What has improved as a result of you being there?

Question 3: What measures support your case? From exploring the last 2 questions, you may want to make a list of each key area of involvement and your impact. You may want to use the table below and include a list of hard measures that support each point. It is these hard measures that provide real evidence to support your case. KEY AREA OF INVOLVEMENT

YOUR IMPACT

EVIDENCE (HARD MEASURES)

Areas to think about when identifying hard measures may include:

Increases in revenue or margin

Reduction in costs

Improved processes

Enhanced brand

Better client relations

New channels or prospects

Question 4: Who can endorse you? From the recent work and activities that you have been involved in, who can and will vouch for you? Make a list of the people that you might want to ask for support and what for. PEOPLE TO ENDORSE YOU

WHAT FOR

Potential candidates could be: Lead er s o f p r o jec ts th at yo u ’ve c o n tr ib u ted to In flu en tial p eo p le a ffe c ted b y yo u r w o r k C u sto m er s / s u p p lier s Y o u r pe er s yo u r b o s s

Other things to think about:

Q: What may each of these people say about you? • • •

How would they describe the impact that you’ve had on the organisation and in your team? Where would they see your value? Are they likely to support your case and if so, why?

Q: What is your market rate and worth to the organisation? • • • • •

What is the normal market rate for your area of expertise? How do you compare with that? Where are you on the salary spectrum? What would happen to the organisation if you left? What would happen to you if you left?

Some learning points for the future: This is unlikely to be the only time that you will need to go through this process. Therefore in order to make this most efficient for you next time, you may want to: •

Negotiate tighter outcomes with your boss

•

Keep evidence of all your work for future reference

•

Never miss an opportunity to get feedback

•

Get written feedback that can be used effectively

This will ensure that you are well prepared with clear evidence to back you up when you are ready to negotiate that next pay increase.

Further Support: Recommended Reading Up Your Game, Up Your Pay! – Salary Negotiation eBook

This worksheet has been designed by career experts at Position Ignition Ltd. For more information or support for your career dilemma visit: www.positionignition.com or email enquiries@positionignition.com to request a no obligation free initial phone consultation.