Newspaper article The Evening Standard (London, England)

When All You Want Is More

Newspaper article The Evening Standard (London, England)

When All You Want Is More

Article excerpt

Byline: WENDY LEDGER

Once regarded as impolite, today discussing money is a necessity.

Wendy Ledger reports

THERE was a time when annual pay rises were an automatic procedure. During the days in the City when jobs were for life, most executives would expect annual rises and promotions with little effort on their part. The City today, however, is a different place, with financial rewards no longer being taken for granted, earnings and bonuses far from guaranteed and annual pay rises no longer automatic. If you are looking for more money and do not want to move companies then you may have to negotiate and demonstrate why you deserve it.

A recent survey commissioned by RHI Consulting found that here in the UK employers are still uncomfortable with the trend of candidates and employees requesting and negotiating their own pay rises and salaries. Of those that took part in the survey, 46 per cent of UK employers still felt they should be the ones to initiate discussions and only nine per cent felt an employee should start the process. In comparison more than 55 per cent of European managers felt that it was irrelevant who started the process, with 12 per cent believing it should be the employee.

Many employees are reluctant to initiate salary discussions because of the cultural belief, in the UK, that discussing money is impolite. In reality, though, the way pay rises are awarded or salaries established requires open negotiation.

The economic climate is an uncertain one and some would argue this is an inopportune-time to ask for a rise. In her book How to Get a Pay Rise, Ros Jay suggests that employees should keep an eye on their company's performance and pick a time when profits are good before they make an approach about an increase. Many of the City's recruitment experts believe, however, that provided they are prepared, employees should not be inhibited about making a claim for what they believe they are worth regardless of economic difficulties.

"An employee always has the right to request a pay rise," says Richard Phillips of MaST International, a training and development consultancy. …

Search by... Author
Show... All Results Primary Sources Peer-reviewed

Oops!

An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.