How to negotiate a salary rise with your promotion
Research recently conducted by Make It Cheaper suggests that 2/3rds of Britain’s small business bosses find it difficult to keep their staff happy and motivated at work. If you feel this may be true in your business, there are a number of steps that you can take to begin rectifying this, such as the introduction of staff incentives, or promoting members of your team that have excelled, or display promise within their roles.
For an employee, a promotion is a great chance to become established within a business and an opportunity to assess current responsibilities, as well as take on new challenges. With this said, a promotion should benefit you as an employee as much as it benefits your employer and their business. For all of the extra responsibilities that an employee takes on as part of your promotion, it's only fair that they should also receive a salary rise.
But, business owners have countless expenses to worry about such as business electricity, rent and tax, so bringing up a salary increase when receiving a promotion is a delicate task - and how its handle can determine how successful you will be when negotiating.
To help you get the most for you out of your next promotion, take a look at the advice offered in the infographic below.
James is an online content creator at Make It Cheaper. Having previously created a variety of content for a number of websites and media outlets, James focuses on making it easy for SME owners to find interesting and engaging content - as well as useful guides and online tools.You can email James at email@example.com