It is important to be ready for a promotion if you are thinking about changing your job. While a promotion can increase your earning potential and make you more money, it is important to do your research and understand what the expectations are for your new title. You should also know the current market rates for your new title in your town. You won't get the same salary if you apply for a Boise project manager position as someone in San Francisco.
Creating a backup plan to negotiate promotion
Prepare for any possible outcome before you negotiate a promo. Your BATNA is your best alternative to the negotiated contract. This is the best offer that you can make if the deal fails. Knowing this can help you determine when to walk away from a bad deal.
Listen to what your employer has to say
Listening to your employer's responses is one of most important things that you can do when you negotiate for a promotion. While you are negotiating for a higher wage, you must consider the costs of training new staff and hiring them. Additionally, you should consider other opportunities to earn more.
Ask for the compensation you want, but don't consider the percentage of your current salary.
Gather market value data. Speak to colleagues in other companies. Get the support of mentors. This information will assist you in making an informed case for your job. Once you have a clear understanding of what you want to achieve, you can start pitching for compensation.
Promotion based on direct results: Making a case
The promotion process can be unfair. 53% of employees feel that promotions should be based on performance and not the boss. According to the Great Place to Work survey employees believe that they should control their career decisions instead of having the organization make them. Lorena Martinez is a former employee survey implementation specialist. She stated, "People should be making their own decisions about the future, not the organisation." Martinez's experience includes culture transformation and change management consulting. She also helped to drive global expansion at Great Place to Work.