Asking for a pay rise is usually a multilevel task for the manager. If he agrees, he will not have to find additional funds to pay the employee who uses the resume editing services, but he will also have to decide how to deal with similar requests from other employees, and there are bound to be some. If he refuses, so as not to set a precedent, how will he not lose the employee? Therefore, the decision should be taken in a balanced manner, and better yet, a salary level where no one will ask for a raise should be ensured. And this is not a fantasy: people are quite capable of balancing the level of effort expended and money received.
A satisfactory ratio of these indicators is the first step towards forming loyalty towards the company and a pledge of quality performance of duties. So how to build an optimal financial relationship with the staff?
Be attentive
Why is it that in one organization people go to work with gusto, and in another – with no enthusiasm and through exertion? After all, there are similar companies with approximately the same staffing, but one to work comfortably, and in others – not. What is the reason? Experts of resume writer service tried to find out.
Indeed, there are companies where employees are treated like robots to perform certain tasks, and there are places where people like it. And it is not too difficult and costly to make one’s organization just like that. The ATS (Applicant Tracking System) can help you with this.
Think about which category your company falls into. If employees are constantly gloomy and moody, there is a significant level of turnover, most of the staff has not passed training courses for a long time and does not even ask for them if the salary is less than the market average, the company has fines, and raises and bonuses are seldom issued, it means that you have to change personnel policy, make it more friendly to people. And the first step should be a pay rise: when a person gets a decent wage, the quality of work increases as well. And once you don’t have enough sources for working in the company, consider searching for another job place. As a platform, you can use Linkedin.
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How do you increase loyalty?
If you want to make a difference, increase employee loyalty and build a great team, start by setting up a clear payroll system. Here are some tools to keep both existing and new applicants interested:
Salary indexing
If you factor inflation into your payroll, you’ll show your employees you have their best interests in mind. In a market economy and rising consumer prices, the annual indexation of salaries is a sensible way of showing the stability and financial viability of the company and helping to attract the best people to the labor market. Unfortunately, this approach is typical of a limited number of employers, mainly Western companies and major local players.
Increasing the salary of efficient employees
It is very important that in such cases the initiative comes from the manager. More often than not bosses deliberately wait for the employee to ask for a raise or promotion, believing that if he or she does not ask for it then he or she does not deserve it. Calculate how much the pay rise will cost and compare it with the cost of finding new employees if at least some of those who are paid too little go to a competitor. It is not uncommon for an increase in remuneration to be associated with significantly lower monetary costs. The thing is that many companies do not have an applicant tracking system
Adding an intangible component to remuneration
Some managers are not in the habit of giving positive evaluations of employee performance. Might they be afraid of being asked for a raise? Is such avarice for praise justified? Attempting to build a link between financial rewards and recognition of the employee’s achievements by his superiors or colleagues is misguided. Both aspects are equally important and should be used together. It is always nice to be rewarded for one’s efforts, but it is just as important to be thanked for a job well done. This is what is called intangible motivation. Of course, one should not expect non-material motivation to replace material motivation, but it all has to come together.
Attentive to the successes of employees
Keep an eye on the triumphs of your subordinates. Do not forget that employees usually wait for the manager to propose a raise because many of them think that the manager knows better, and if he needs it, he will make the decision about the raise himself, until then there is no point in asking for it. Praise your employee’s accomplishments. But the employer must understand that all employees are different, among them, there can be shy people, so it is better to keep the situation under control: to give cash bonuses for outstanding achievements and increase wages for a certain result (passed the course, reached a specified threshold of performance, increased duties, etc.).
A Salary increase letter
Don’t play with percentages, forcing employees to fight for customers. They should have enough customers so that everyone can use their abilities effectively. So now it’s time for salary increase letter, that can help you upgrade your career to the next level. Nor should you set an upper ceiling on the percentage: if a person has earned a lot, it means he or she has earned it. In general, I would advise employers to be more generous with percentages and bonuses: the more employees will be interested in each client, the more income they will bring to the company.
If you have to refuse
Yet a request for a pay rise may not always be granted. To be sure that the employee will not leave, you should reason his denial, explaining what exactly needs to be done to achieve the required level.
We are sure that every employee will want to know the reason for the refusal, to understand how objective it is, whether it has to do with personal performance or something else. Every sensible manager should therefore explain their refusal, and certainly in a face-to-face discussion, even if the employee has chosen an inappropriate time to do so. Otherwise, the person will come up with a reason himself, which is not the best option. Apply applications that track your activity. Anyway with great resume comes great job, affordable resume wriitng services are over here to move your resume up to the next level.
Reasons for refusal may be very different: the financial situation of the company does not allow for pay raises, the compensation level is high enough for the position compared to the market average, the employee has not reached a sufficient level of qualification for a raise, etc. A constructive refusal not only will not demotivate the employee but will give him or her an additional incentive to achieve the result expected of him or her.
For a company to thrive and employees to be loyal, you need to listen more carefully to their needs. A judicious mix of intangible rewards and fair monetary rewards will make staff more effective and the company more successful. Every job applicant whose resume was not written by a bot-beating resume wants to see good conditions.
In conclusion, it is important for managers to provide clear and constructive reasons for refusing a pay raise request from an employee. This helps the employee understand the decision and can motivate them to work towards achieving the expected results. It is also essential for companies to listen to their employees’ needs and provide a balanced mix of intangible and monetary rewards to increase staff effectiveness and overall success. With a well-written resume and a focus on job satisfaction, employees can find themselves in good conditions and be more likely to remain loyal to their employer. Consider using affordable resume writing services to help take your resume to the next level and improve your chances of landing the job you want.
