How to negotiate a promotion
When you get a promotion, it shows that employers appreciate and acknowledge your work. In the case, it is noted that employees can enter a negotiation for their grounds of promotion. It is important to discuss the conditions of promotion, to result in favourable conditions for both you and your employer. The act of negotiation revolves around a give-and-take process. In this negotiation, consider various perks or structures you believe should fall in line with your new job title. Here are some tips on how to negotiate a promotion:
Calculate your worth
Consider the reasons why you deserve a promotion. What have you brought to the table that has improved your post/the business? Have you gone above and beyond your position requirements? Create a list of the reasons why you believe you are worthy of a promotion, including your responsibilities, achievements and any available data. Make sure you have evidence to back up your reasons. Compile all this information into a clear presentation portfolio to bring along to the negotiation table. This helps to more concretely prove your worth in the company, driving home why you are important to the business.
When negotiating, choose the perks you believe fall in line with your work and the new title. Make sure that these perks are not too extravagant. They should have a motivational reason behind them. Whether this be an assistant to deal with the new workload, a better parking spot for easier access or a larger office to accommodate customers/clients, there needs to be a valid reason behind what you are asking for. How will these perks improve your work performance? In salary negotiations, refer to online pay scales, salary surveys or speak to people in your line of work to get a ballpark of an appropriate salary to expect/ask for. A good tip is to put yourself in your employer’s position. If your employee approached you with this set of promotional demands, would you agree? Which ones would you challenge and why?
Be aware of timing and context
You need to be strategic with your timing. Broach the promotion discussion at a time where you know the result is most likely to end favourably for you. For example, if the company is experiencing financial difficulty, it would be a very bad time to ask for more money. In a case like this, maybe consider negotiating for non-monetary perks, such as flexible hours, or a new job title.
A good time to go in for the discussion would be, for example, following a big career win for you. Perhaps you landed a big new client, negotiated a swanky new deal or created a foolproof solution to a problem. Ride that wave!
Practice. Practice, practice
Plan out and practice how you will negotiate a promotion. It is important to get comfortable with discussing the topic so that you appear bold and confident in the actual negotiation. You do not want to be nervous in these discussions, as employers might not respond as well you hope. Involved in this is considering the various responses your employer might have to your requests. Be sure to anticipate those responses, so that you can develop answers to their queries. This way, you are not left stumbling at a question. Furthermore, you will be more likely to be successful, as you did not cower away from tricky questions. So rehearse the negotiation. Practice on someone else, so that you get comfortable saying the words out loud. Having another person’s opinion or feedback can also help finesse your argument.
Know how to handle rejection
Understanding how to deal with rejection is an essential part of any negotiation. Of course, hearing ‘no’ is rarely the answer you want in a negotiation but it is a reality. You employers might not agree with the terms you set out, and be unwilling to budge. Know when to push, and when to accept.
What do you think of these tips? Do you have any more tips to effectively negotiate a promotion? Add them in the comments below!
Read our tips on writing the perfect CV HERE.