Due to the high cost of living in Britain, employees will prioritize getting their pay raises this year.

Millions of Americans across the nation have had to reevaluate their lives due to the pandemic. Many are switching jobs and quitting. 

According to November figures by the Office for National Statistics, job-to-job movements totalled 979,000 in July and September. 

Randstad UK, which is a recruitment company, conducted a survey last November of 6,00 workers. It found that 69% were confident about changing jobs within the next six months. 24% plan to make a move in three to six weeks.

Get it done: With the cost of living in Britain soaring, getting a pay rise at work will be at the top of many employees' to-do lists this year

Get it done: With the cost of living in Britain soaring, getting a pay rise at work will be at the top of many employees’ to-do lists this year

According to Indeed, workers who move employers typically earn 7.3% more, this is nearly twice the average pay growth of 3% for employees who stay put.

If you’re happy with your job, consider asking your employer for a salary increase.

It’s not possible to obtain a salary increase by waving a magic wand, however Indeed and This is Money share five important tips for securing one in 2022.

1. Learn when it is appropriate to request a increase   

According to Indeed.com, it can be as critical as the conversation to decide when you should negotiate your salary. 

You should ask after you get promoted, if you take on new leadership roles or if your current salary is lower. 

To find out whether average salaries have increased, you can use an online tool like Indeed’s Salary Checker. If you feel your pay is not in line with the industry norms, or your level of experience, it’s time to discuss a raise.

After your company has announced job cuts or losses, it is not wise to request a raise in pay. If your company has recently announced a good profit, it is a great place to ask for an increase in your salary.

2. Make sure to do your homework before you go

Do your research on the markets you work in and then calculate the individual value you bring to the company before you start to negotiate your salary.  

Employers may offer to pay you if your company has been around for years.

When searching for job opportunities similar to yours make sure that you verify the qualifications and experiences are genuine.

3. There are many reasons why you should be grateful

Make sure you have a clear reason for your pay raise. Also, practice your negotiation pitch in advance so that you can feel comfortable when you enter the discussion.

Prepare to present your case and justify why you deserve a higher salary. You might also consider practicing different scenarios, including rebuttals and negotiation requests from your employer.

Even though you may not be prepared for everything, a detailed written note outlining all points that you would like to bring up during the meeting is invaluable.  

4. Accept compromises

Flexibility and willingness to work with your employer to find a solution to or compromise your salary is key.

Be prepared: Identify clear reasons why you deserve a pay rise, and rehearse your negotiation pitch beforehand

Be prepared: Identify clear reasons why you deserve a pay rise, and rehearse your negotiation pitch beforehand

According to Indeed, an employer could offer you a better salary package that includes more holidays pay and flexible working hours, even if it is not possible for them to raise the money they are paying you. 

Consider carefully whether these incentives are more advantageous than an increase in your basic salary.

5. Switch if you need

You should not hesitate to end the negotiation process, even if your previous job was more lucrative.

However, you should make sure that all avenues have been explored, and that you are asking for flexible hours or additional vacation time if you feel that this is necessary. It is possible to put an end to negotiations, and then return to it later.

Mikaela Elliott is a senior manager for employer insights at Indeed. She stated that salary remains the most important factor when looking for work, whether it’s with their current employer, or in a search for a different job.

“When you’re negotiating with your boss or your existing employer, do your research before hand to ensure a successful conversation.”

Elle added that not all employers can match your salary expectations. However, they might be able offer additional compensation such as flexible work hours or extra holiday days. 

It is worth taking the time to evaluate all aspects of your package, before you make a decision. 

It is possible to get a raise by switching jobs. Research shows that workers have the potential to double their earning growth by moving to new places. So do not be afraid to walk away from pay negotiations if your employer’s offer does not fairly meet your expectations.’

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