With a bleak economic outlook for 2023, here is the best way to get a salary increase from your employer.
Employees looking for a salary increase in 2023 should start laying the foundation with their bosses at the start of the year rather than waiting until the year’s end.
Goodman says that, contrary to popular belief, waiting till the end of the year or the end of the salary cycle is not the time to ask for a better pay package or promotion. “Keeping track of your contribution and achievements throughout the year isn’t just an important strategy in terms of negotiating the best possible package, but also an invaluable performance management tool so that you can be confident that you are indeed developing in your career,” she said.
Although each organisation varies regarding an appropriate time to speak of merits, the key is to have initiative – with a monthly informal performance discussion ideal, Goodman said.