The majority of HR professionals assume they need to get another job to secure a payrise - but there are ways to fatten your pay cheque without having to move on.
Video transcript below:
Stephanie Zillman, HC Online
Stephanie Zillman: Hello, I’m Stephanie Zillman and you’re watching the Big Story on HC online. It’s not unusual around this time of year for employees to evaluate where they are at in their careers and HR professionals are not immune, meaning exactly having a ponder about pay. The Next Step’s, Craig Mason says people in HR are often reluctant to ask for a bump in salary.Craig Mason, The Next Step 84% of people in HR think they actually have to move companies to get a substantial pay increase and that only 8% believe that they will be able to get a pay increase through promotion.
Simon Boulton, Aequalis Consulting
Simon Boulton: There is always a sort of, “oh we can’t get a pay rise, I can’t ask more.” Those people are the backbone of the organisation. Without them, without HR, without finance, without legal, the operations of a company are completely compromised.
Stephanie Zillman: But Simon Boulton of Aequalis Consulting says this kind of thinking is flawed.
Simon Boulton: People don’t leave their jobs just for money, first of all. To move just on the back of salary not being the way you think it should be, I think always will be short sighted and will probably come back to bite you.
Stephanie Zillman: So how can HR professionals prove they have not only excelled in their positions but exceeded the requirements of their role?
Peter Barber of Frazer Jones has some advice.
Peter Barber: If you agree some targets at the beginning of the year and later exceed them, then surely you have done so, you should enjoy a benefit financial or otherwise.
Simon Boulton: It comes back to working above and beyond what you are supposed to do, nobody is going to pay you more unless you are doing more. So having examples of what you have done more of or things you have done to make a difference, they have to be things you are going into these conversation armed with. You can’t just go in with I am doing my job and I want a pay rise. So it might be examples of initiatives that have been run, programs that have been developed, there might be processes or frameworks that have had to be changed, but really tangible things that you have done.
Stephanie Zillman: So how can a HR professionals looking for more salary figures take the next step? Simon Boulton shares his tips for having that slightly unnerving meeting with an employer.
Simon Boulton: I think confidence is important, but balance that with arrogance. Often overconfidence can be seen as arrogance, so going in belching, stamping and chamting I want a pay rise, obviously isn’t going to be what people do, but going in even with that sort of mind set will really affect the meeting. So I think going in there again, emotions aside close the door on those, going with really pragmatic and clear examples of what you have done, why you have done them is really important. Without those you are going in really unarmed and you are just teeing yourself up for failure.
Stephanie Zillman: For more on remuneration and other industry news, click around HC Online. I am Stephanie Zillman and I will see you again soon with the Big Story.