Missed out on that raise? It’s a common occurrence. One study found that more than half of workers (56%) fail to achieve higher pay each year.
Still, it’s a disappointing experience. You feel overlooked and underappreciated. It’s tough to know what to do next.
Your goal should be to maximize your long-term potential. Partnering with a top recruiter, like SmartTalent, can give you the edge you need. If feel stymied in your current position, SmartTalent can open up your horizons and find you a stellar opportunity.
Even if you choose to stay in your current position, being denied a raise should still launch a process of assessment. Take a breath and consider your next steps. Here are some tips to consider if you asked for higher pay and didn’t it:
It’s time to practice your poker face. Yes, losing out on a raise can be a frustrating event. However, you don’t help your case by reacting emotionally. Stay calm and professional, while focusing on the next steps of your career.
Beyond keeping your cool in the moment, you need to shape your longer-term reaction to the disappointment. Don’t quit in a huff. Avoid the temptation to bore your coworkers with your complaints. Definitely don’t launch a kamikaze mission to get your boss fired.
Rather, take a strategic approach to the situation. Gather as much information as possible and develop a plan of action. Create a new set of goals based on the current circumstances and move forward from there.
Understand the Reason
A raise can be denied for a wide variety of reasons. You do yourself a disservice if you just hear “no” and stop there. Instead, listen for “no, because…” to get a full understanding.
This will help you plan your next move. After all, your response should be tailored to the details surrounding the denial. If the company lacks sufficient funds to offer a raise, you’ll take different steps than if the decision was solely based on your performance.
The more data you have, the better positioned you’ll be the next time around. As such, ask questions in the wake of your raised denial. Get detailed feedback about your performance. That way, you’ll have a firm grasp of where you stand.
Conduct a Self-Review
While you assess the company’s situation and the details surrounding the raise decision, it’s important to look at yourself as well. Could you have handled the request better? Are there steps you can take to improve your chances next time?
It helps to have a firm knowledge of the market and your place in it. SmartTalent can provide guidance and insight about your industry and your value to employers. Reach out to SmartTalent to achieve a deeper comprehension of your prospects.
Find Out the Criteria to Get a Raise Next Time
Start laying the groundwork for your next raise request. Ask for specific benchmarks that would maximize the likelihood that you’ll receive a salary bump in the future. Also, figure out the best timeline for another stab at higher pay.
Look for Other Advancement Opportunities
Don’t become overly focused on getting a raise in your current position. There are other ways to move forward in your career. Perhaps you are capped out in your current role. But you might be able to position yourself for a promotion.
Sometimes a lateral move makes sense as well. Advancement opportunities might pop up more frequently in other areas of the company. Get a sense of where you’d be best situated for upward movement and map out your best way to get there.
Look for Another Job
You may have reached your limit at your current job. After you’ve gathered all the information you can, it’s time to weigh your options. Judge how likely it is that you can maximize your potential at your current employer. If you feel your prospects are constrained, it might be time to look for other opportunities.
SmartTalent can help you with this process. You’ll get the market expertise you need to understand your alternatives. Meanwhile, if you choose to move on, SmartTalent can connect you with top employers and ensure that you make the best decision possible.
Contact SmartTalent today to get the most out of your abilities.