How To Ask For A Raise Part 2

Hello and welcome to part three, the last of this video series on how to negotiate a higher salary. You know, in the first video we talked about when to ask for a raise, both in terms of the situation and the time of year. In the second video, we got right into the weeds and talked about the step by step process on how to ask for a raise powerfully. In this third set, we're going to talk about what happens if you don't get your raise. So remember, we talked in the last video about there's two numbers that you're determining to ask for a raise. You've got your ideal number and then you've got your minimum success win number. And if an employer comes back below that second number or with no raise at all, it would be very understandable for you to be frustrated, angry, even sad. Here's the thing though, there is still room to go, because remember, this is a negotiation. Just because they came back with a no or something lower doesn't mean it's over. So the first thing you want to do, no matter what the circumstance, is to find out why you didn't get the raise you were looking for. You would be surprised how much that information can shift the way you feel about what's happening. What if the employer is very transparent and able to express that they believe you're right, but they simply can't afford it for whatever reason? Well, that's a very different reason than someone who just shuts you down cold without any explanation. With my current employees, I tell them early on that the two things that are important for them to get a raise is A, that they create additional value, not just show up every day for a year, but they create additional value above and beyond what they're currently being paid to do. And then B, there has to be enough money in the company to support it. And that's why an employer who's smart will create a compensation range by position so that you know where you sit in that range and then you're just comparing that against the market. But most of the time that doesn't exist. So you're going to have to create your own range with your ideal compensation and then your minimum success win compensation. And if they say no, find out why that is. Another thing that often happens when you ask them why they turned you down is that you might find they have additional information, additional information regarding market research or the situation at large. Too many times I had employees that came to the table with me so upset that they didn't get a raise or that they were being underpaid or something along those lines. But they didn't give me the chance to explain why that is through the market research that I had. A perfect example as a PT practice owner is that a physical therapist would Google physical therapists in the state of Arizona to find out that there was a massive, massive range for compensation because it included all these different settings, inpatient home health, you name it, and outpatient physical therapy is typically on the lower end of that range. So I had to explain to them, this is why it's happening. But I will tell you, even in those circumstances, when someone came to the table angry, I would immediately shut them down in a sense that there's no way I'm going to reward negative behavior. Even if I'm wrong, I expect a professional courtesy of someone bringing it to my attention from a win win perspective, because that's exactly how I would do it as an employer. So now that you've researched and asked why it is that the raise hasn't occurred, what do you do next? The next is to create a path for you to get that raise. This will tell you everything that you need to know about your employer. If after all that, you're pretty confident there's enough money in the company and it's not an excuse, and you have this idea of your research being valid and accurate, then you want to work with your employer by saying, well, listen, I know that I'm worth this, so can we talk about how I can get there and what that would look like in terms of time? Giving them that chance to collaborate gives you kind of a third option, because instead of yes or no to a raise, then it becomes yes in this specific path. And by creating that, if they're willing to work with you and develop that career path with you, then you've got a really good employer, even if they're losing money and they can't afford it. Now, if they can show you what that path will look like over the next two to five years, that's someone you really want to stick with. If you love your current job and team, ultimately, by creating that path, you'll know where to go. But what happens if they're unwilling to even do that? So they give you zero raise and they tell you, well, listen, I can't talk about that now. We've got too much on our plate. We'll bring it up next year. Well, you let them know immediately that you're disappointed. You say, wow, that's really sad for me to hear. I know I'm committed to creating the maximum value. Wherever I work, just so you know, I'm committed to creating value and a long term win win for both of us, no matter what. And emphasize both of us because it's pretty clear to the employer that you're not winning at that point. Remember, you can still support your employer while you leave to create another win. How you leave has everything to do with how you support that person long term. But maybe it's time to leave and this is how you know when those things happen and you don't feel like there's any other choices. You always have three choices. You Number one, learn to love it. Number two, don't like it, but learn to live with it. And then number three, make a change. And so these opportunities for discussion, developing your future will tell you a lot about your own integrity and knowing what you're worth. And I promise you, if you're really clear on a win win agreement, if you're super committed to both parties winning, including yourself, you'll know exactly what to do in those difficult times. So thank you for watching this series on how to negotiate a higher salary. I would love to hear about any experiences that you've had while you're going through this journey without giving up too much personal information. And if you do, please put those in the comments below to help serve me and all those that you're that are watching this video. Thank you so much for watching. Until next time.