The news has been abuzz in recent months concerning a growing trend among workers known as the Great Resignation. During 2021, a record number of Americans quit their jobs. During July of 2021, over 4 million people quit. As of September of 2021, the trend showed no signs of stopping, as an additional 4.4 million left the workforce.
What’s driving the Great Resignation? Some people might have kept their jobs during the early uncertainty of the pandemic, but companies are now seeing an onslaught of resignations as people have become more secure about pursuing new employment. Some of these individuals have quit due to burnout, while others have simply started reconsidering their life goals and priorities.
The trend is most apparent amongst individuals between the ages 30 and 45. This group of individuals – typically in the middle of their careers – have amassed significant work experience. They may discover opportunities with companies that are reluctant to hire people with less experience because of the current remote work environment, which prevents in-person training.
Regardless of the reasons behind the Great Resignation, it is clear that employers are going to have to make some adjustments to their retention models if they hope to keep their teams in place. New incentives may take the form of additional worker benefits, adjusting pay scales, or maintaining flexible work arrangements.
Employees who genuinely like working for their company and enjoy their job are in a good position to ask for a raise or enhanced benefits during this time. This is especially true if their workplace has seen a significant number of workers head for the exits.
If you are in this position, it may be time to have a conversation with your manager. You may prefer to stay with your company, but also realize that leaving could provide you with a higher salary or other benefits. Realizing this potential and setting up a meeting is especially important as performance review season begins.
Here are a few tips to ensure your conversation is productive:
- Ask for a Raise or Other Perks
Ignoring the elephant in the room and waiting for your manager to suggest that you should get a raise probably won’t get you the results you want. Thus, it’s important to build up your courage and do some market research.
A simple Glassdoor search of your area and salaries for your position can give you some idea of what to ask for. If salaries have increased due to employee turnover, you’re in an excellent position to request a raise.
You should also have a few backup options in mind. For example, if you know your employer is likely to opt for a return to the office, but you enjoy working from home, consider asking for flexible working arrangements.
Other potential requests could be geared towards career development — such as tuition reimbursement for an advanced degree or a certification.
Approach the conversation with a positive attitude and armed with ample research!
- Apply for a Promotion
If you’re not too certain that asking for a raise will work out, consider going for a promotion instead. If there is a position that you feel qualified for, apply!
Speak with your manager and let them know your intent to apply for the role and your plan to make it successful. Don’t forget that this is mutually beneficial to them, as well. Rather than hiring someone from outside the company who isn’t familiar with the day-to-day activities of the business, you’d be taking your well-earned knowledge into a new position.
You can also consider whether you’ve taken on a lot of extra work in recent months. If you’ve been taking on tasks that were performed by others who have left or moved on to other roles, you can ask for a title change and a requisite salary increase.
- Consider Your Career Path
Think about your long term career goals. Do you see yourself with the company, but potentially working in another department or in an executive role? Would you prefer to devote more of your time to a specific set of tasks each week?
Consider what makes you most happy at work or what you see for yourself in the future. If you’re able to convey that to your manager, a good leader can help you in your journey.
Typical ways you can grow in your career include additional training — through a new certification — or by cross-training with different departments. If your manager is willing to support your goals and training, that could lead to a significant wage bump in the future.
- Time Your Negotiation
It makes sense to ask for a raise after you secure a significant win for the company, like signing on a big client or delivering a major project milestone. If you haven’t delivered one of those recently, then make a case for your value.
You can speak with other trusted colleagues that know about the tasks that you handle on a regular basis. Let them know you are considering asking for a raise and enlist their help.
You set yourself up for success when you have others who recognize your talents and are willing to go the extra mile to support you. By the time you have a meeting with your supervisor, they might have already heard how important you are to the team and be willing to support your request for a raise.
Taking Action
However you choose to make your need for a raise clear to your manager, ensure that you are properly prepared and able to strategically make your case. With the right strategy in place, you can seek out the benefits you deserve!
