Salary Negotiation Tips for Managers
As a manager, you have many responsibilities and tasks on your plate. One of which, may be handling employee requests for salary raises or negotiating starting salaries for new hires. The process of negotiating a salary can make some managers and employees feel uncomfortable. However, a key part to employee retainment can be to make sure your employees are fairly compensated for the work they are doing. Otherwise, they may look for work elsewhere at a company that will pay them a salary they feel is fair. Our HR consulting firm is here to give you a few salary negotiation tips for managers. Whether you have an employee coming to you for a raise or you are hiring for a new position and in the process of negotiating a starting salary for the new hire, these tips can help you. Many times, salary questions and requests may come up in an employee review. For HR help getting your employee review process on track or recruiting top talent, call Kmet Consulting, Your One Stop HR Shop at 877-783-5638.
Listen to What the Employee Has to Say
You need to respect the employee by hearing them out. They have probably done all sorts of research on what their salary should be, so now it is your job to listen. If this is an employee that has been with you for a long time, let them explain why they deserve the raise. Don't lose a good employee to a competitor because you didn't take the time to hear them out. These conversations are important.
Know Your Competition
Do your research and know what the position in question makes on average. There are several online resources you can turn to, such as Glassdoor, for example. Know that people you are looking to hire are likely using resources like this to gather information for when it comes time to negotiate a starting salary.
Pay Attention to How the Employee Approaches a Salary Negotiation With You
You can really learn a lot about a person by paying attention to their negotiating style. If you are hiring someone new, do they seem confident enough in their skills and abilities to ask for a salary they are truly worth or do they seem too scared to ask for their true worth and play it safe by asking for a low number? The truth is, if an employee doesn't feel like they are being fairly compensated, enough to support themselves and their families, then the odds probably are that they won't stay long.
List a Salary Range in the Job Description
If you are looking to hire for a new position, list a salary range in the job description. This can help you and the employee be on the same page and likely make the negotiation process much easier on both parties.
Our HR consulting company understands that some managers may feel uncomfortable with this process, but having these negotiation skills down can really help you thrive as a manager. Negotiation is a part of management and you need to know how to do it without feeling uneasy about it. Do your research and feel confident when you negotiate because you know what is fair for the particular position or employee and industry you are negotiating a salary for. Whether you are negotiating with a long time employee wanting a raise or a new hire trying to get a fair starting salary, we can help you. Just call Your One Stop HR Shop, Kmet Consulting at 877-783-5638.
Salary Negotiation Tips for Managers
Listen to What the Employee Has to Say
You need to respect the employee by hearing them out. They have probably done all sorts of research on what their salary should be, so now it is your job to listen. If this is an employee that has been with you for a long time, let them explain why they deserve the raise. Don't lose a good employee to a competitor because you didn't take the time to hear them out. These conversations are important.
Know Your Competition
Do your research and know what the position in question makes on average. There are several online resources you can turn to, such as Glassdoor, for example. Know that people you are looking to hire are likely using resources like this to gather information for when it comes time to negotiate a starting salary.
Pay Attention to How the Employee Approaches a Salary Negotiation With You
You can really learn a lot about a person by paying attention to their negotiating style. If you are hiring someone new, do they seem confident enough in their skills and abilities to ask for a salary they are truly worth or do they seem too scared to ask for their true worth and play it safe by asking for a low number? The truth is, if an employee doesn't feel like they are being fairly compensated, enough to support themselves and their families, then the odds probably are that they won't stay long.
List a Salary Range in the Job Description
If you are looking to hire for a new position, list a salary range in the job description. This can help you and the employee be on the same page and likely make the negotiation process much easier on both parties.
Negotiate a Salary Like a Pro with Kmet Consulting
Our HR consulting company understands that some managers may feel uncomfortable with this process, but having these negotiation skills down can really help you thrive as a manager. Negotiation is a part of management and you need to know how to do it without feeling uneasy about it. Do your research and feel confident when you negotiate because you know what is fair for the particular position or employee and industry you are negotiating a salary for. Whether you are negotiating with a long time employee wanting a raise or a new hire trying to get a fair starting salary, we can help you. Just call Your One Stop HR Shop, Kmet Consulting at 877-783-5638.
sue@kmetconsulting.com
877-783-5638
As an executive, salary negotiations are typically longer and more complicated than when you were a junior staff. While negotiating for the highest possible salary may be your main objective, you should also remain open to discussing other benefits and perks which could help close the gap between your expectations and what your employer can realistically offer. Read more: how senior-level executives negotiate for salary.
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ReplyDeleteAlthough it has no monetary value, you can also negotiate for a better job title to make sure you have the most senior-sounding one available. Read: how senior-level executives negotiate for salary.
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