An employment lawyer has urged Brits struggling to cope with the rising cost of living to speak to their manager about increasing their salary. Although asking for a pay rise may seem daunting to many, George Miller, chartered legal executive at Richard Nelson LLP, has called on people to have an open and honest discussion with their employer about their wage.
He said: "With inflation rising to its highest level for 40 years it's understandable that many people are concerned about their finances and feel as though they have nowhere to turn. While Brits may feel uncomfortable asking their employer for a pay rise to help them cope with the increasing cost of energy bills and fuel prices, it's definitely a conversation we would encourage people to have.
"Generally speaking there is no set way that employees should ask for a pay rise. Some people believe it is harder to turn down a request made face-to-face, although you may want to make your request in writing so that you have a record of it and any response.
"What is important is that you make sure you justify why you're asking for a pay rise – salaries are rising across the economy as businesses compete to attract candidates, so you may be able to show that the market rate for your role has increased." With research from the Chartered Management Institute (CMI) revealing almost half of UK businesses are not offering or planning to offer pay rises to their staff, it is clear the onus is on employees to broach the topic as the cost of living crisis deepens.
In fact, Google searches for 'how to ask for a pay rise' increased by 35% in the first four months of this year compared to the final four months of 2021. Andrew Carr, marketing and digital divisional director at Gleeson Recruitment Group, believes pay rises aren't the only way businesses can support their employees financially.
He said: "I think it's important to note that even if employers can't afford to provide all employees with a pay rise that effectively tackles the increased cost of living, there are other ways they can provide support. For example, financial literacy and education along with expert advice is a great inclusion to any rewards and benefits plan, along with actions such as increasing pension contributions."
Mr Carr also outlined his six top tips for asking for a pay rise.
6 keys for negotiating a pay rise at work
Be prepared to ask the question
Even though we know that money is a primary motivating factor for most UK employees, research shows that less than half have ever actually requested a pay rise. Even if your request is denied, the conversation will provide you with an opportunity to discuss and demonstrate the value you're adding to your company, and will open up a dialogue you can revisit in six or 12 months' time.
Outline your recent achievements
Take the time to go through everything you've achieved over the past 12 months or so, including projects that have made a measurable difference, or where you’ve exceeded set key performance indicators (KPIs). Put this into a format that will make it easy to present and discuss during your conversation, and be prepared to emphasise the effort you've put in and the specialist skills each task has required.
Have the conversation in person
Although it may be tempting to raise the subject over email, asking for a pay rise in person has been demonstrated to have a far higher success rate.
Research your market value
Before raising the topic of a pay rise, check salary guides within your industry, speak with recruiters, and hit upon a figure that's realistic. Your request is far more likely to be successful if you can demonstrate that what you're asking for is fair and reasonable.
Discuss expanding your roles and responsibilities
If you're asking for a pay rise be prepared to take on more responsibility alongside a salary increase. It's also a good idea to go into the conversation with suggestions as to how your role can be developed and expanded.
Outline your ideas for the future
Demonstrate your passion and enthusiasm within discussions about your salary by laying out your plans and ideas for the business’ future. By linking your request for a pay rise to what you're going to deliver and the value you're going to bring, you're giving your manager every reason to say yes. You'll also be providing them with added material to make your case to senior leadership if that's what's required.
