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factors you have to think about first:2 U6 j- J9 q: b
how well paid you are at the moment compared to the market norms
7 c+ n. Q8 @1 |the rate of inflation
7 G/ N+ z- O7 C- }& ]where you live and work and the costs of living associated with the area, and in relation to other geographical locations where company employs people; j6 d: v b' q" ?& k! d ] q
the company's position concerning staff turn-over, retention, recruitment and head-count (ie increasing, reducing, or static; in accordance with planned levels or not)
" u* n q3 Z0 h6 t: ?; N3 M" p4 i1 Vthe company's trading performance (relative to budgeted costs and planned sales and profitability)
2 C2 x# n3 S/ O4 B: |9 ^# @the available budget your company has for pay rises (which is usually none, apart from annual salary review time)6 K7 i; {8 j. ]0 q
the company's last company-wide salary review, and the range of % increases awarded
3 J! T- t3 ?7 [7 v3 y7 \the company's next company-wide salary review, and the likely range of % increases1 G: T* X: Y3 B% D0 S5 g1 e
what precedents would be set for other employees by giving you a rise (this is often a significant issue for the company)9 V& H8 \& @: W
how valued you are to your boss and company
+ P/ m5 ~! |4 Show easy it would be for them to replace you with someone of similar capability and value at the same or less salary
5 m2 T, v$ l9 ehow much extra responsibility and/or you are prepared to take on- @: o6 y8 [, c
how much extra effort you are prepared to put into the job and how ambitious you are
- W5 ^. Q6 Z Y: A% Z: Z8 l3 Iand, very importantly, what you will do if you don't get a raise or salary increase (ie., how much you want to stay with your present company and how confident you are that you could find a better job elsewhere) |
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