By Nina Hendy
If you’re thinking about knocking on your boss’s door to request a pay rise when you leave the home office and head back into work over the coming weeks, you’re not alone.
A tight labour market, coupled with predictions that many could resign from their jobs as COVID-related stress is giving workers a new perspective on what really matters in life, have shifted the balance of power to employees. And many are likely take advantage of the situation, HR experts say.
HR expert Kathryn Bonning expects this year will largely be influenced by the ‘Great Resignation’ of people leaving their jobs in the wake of the pandemic, as experienced in other markets such as the US.
And many employees will be wanting greater transparency about how salaries are benchmarked in their organisation, she says.
“People will want to be compensated for working above and beyond their already reasonable working hours,” she says.
A mass resignation event could well be on the cards in Australia, a survey of 1,000 workers by Employment Hero suggests. According to the survey’s findings, some 40 per cent of workers intend to look for a new professional role, with many on the hunt right now.
Many employers aren’t being proactive about pay rise conversations, and are experiencing waves of resignations as a result, Mr Hattingh says.
“A pay increase will be a key priority for employees moving into 2022, but many will see a pay increase elsewhere before they ask their current employer.”
If you’re considering asking for a pay rise, never go in asking for a set amount.
Never use colleagues as comparisons to justify a pay rise. Instead, base your request around your own performance and achievements. And don’t give your employer an ultimatum if you don’t get a pay rise because more often than not, they will accept your resignation, he says.
If you don’t get the desired outcome, ask why. “It could be the financial position of the company or another reason,” Mr Wynn says.
However, if the employer provides a reason to knock back a pay rise, you need to accept it, he adds.
“With CPI running at 2 to 3 per cent the last few years, if you can get similar or slightly more than that, then you should be satisfied.”