The subject of financial compensation as an employee is indeed a touchy one. It can even get emotional for employees, who commonly have the feeling of not being compensated to the extent they feel they deserve.
As a fact, how well a person is compensated for their job is a function of how their contribution to the company is perceived by their superiors. Most often, the value added, and an employee’s salary is closely entwined, with the relation defining both the frequency and scope of raises.
While all employees work throughout the week at the office, some quite visibly are privy to higher pay and more frequent raises even though they put in the same hours. So, what is it that they do differently?
Well, here are some five changes that you can incorporate into your daily work life, to maximize your chances of consistently increasing your salary income:
Understand Your Role in the Ecosystem
To qualify for an increment in your pay scale, it’s very important that you understand your real purpose in the organization and fulfill it to your best.
In any job role including yours, there are three key internal stakeholders that you will be required to interact with, on a day-to-day basis. These include your superiors, immediate colleagues and juniors.
To add real value to the organization, you need to put some thought behind each of your actions and align them to your stakeholders’ interests while you pursue your regular work goals and duties.
This essentially means that you should work in a way that also adds value to the superiors and their objectives. You must also take out some time to train and assist your juniors, for true leaders always help others and lead by example. Following this approach is sure to help you earn the visibility that eventually converts into increasing pay scales.
Work on Your Attitude
No matter how good you are at the work that you do, it is your attitude that will always take the lead in unfolding your real success, and perception of the work that you do. Most employees, in general, tend to under rate a positive attitude at work.
Putting in that effort to be polite, professional and diligent is something that never loses its charm, be it any role or business vertical.
To demonstrate that you have a good attitude, it is not important to put on a fake face at work. All you need to do is understand the purpose of why you’re there and respond well to different situations that unveil instead of simply reacting all the time.
Additionally, you must inculcate a sense of adaptability towards situations and even changes, for being adaptable is inevitable to grow.
Find a Mentor at Work
The role of a mentor becomes extremely important in the workplace to make the right decisions and keep the motivation levels afloat always.
Being successful at work is effectively an interplay of two primary things – what one is trying to achieve & how. If you are not convinced by the union of these two premises, spending each minute at the office can get extremely suffocating. It can result in you having a demoralized frame of mind always.
Having a mentor within the office to go to help to resolve such issues right when they strike, for that person, being an insider, is in the best position to understand the situation in entirety.
Additionally, experienced mentors who are at a senior position can always guide you better if you have choices to make pertaining to your role in the office, say, for example, choosing the right switch in a role within the company. Sometimes, certain decisions unfold the course of your career and remuneration, and its best to make them under able guidance.
Protect Your Family and Assets
To put your best foot forward at work, you need to be secured in terms of being covered for different types of risks your family is exposed to or have stability in your finances.
In case of any unforeseen event or financial set back, it is almost impossible for any human to focus completely on their work and put in their best performance. Something that ultimately determines one’s take-home income.
In that sense, it’s good to invest and invest early your saved income in a well-balanced portfolio of financial assets. Good investments ensure that your money keeps growing while you focus on your job and slowly creates dependable financial security for later stages.
It’s also advisable to invest in good insurance plans like health and term insurance to ensure that your dependents are financially covered and protected in case of any unforeseen circumstances. The peace of mind that doing all this brings reflects significantly in one’s work.
Maintain A Record
Most people like to keep a mental note of the feedback they receive regularly and comments they hear in quarterly appraisals. However, you will find that maintaining a tangible paper record of such instances where the work was appreciated, noticed or even criticized helps in making better decisions.
Doing so will help you critically analyze what is working and not working, and helps you improve your skills, decisions and not to mention income.
With only examining everything at the surface without any kind of record, one’s best judgment only gets clouded, despite having the opportunity to evolve and grow. Additionally, if you do have a record, it helps to carry it along, to rationally prove the value you’ve added if you’re ever into the conversation for negotiating for a raise.
The best way to increase your income is not by switching jobs all the time but shaping your work behavior and attitude in a way that it amplifies the value you add to the organization. It’s good to be mindful, secure the finances you can and keep learning from your own mistakes as you steer forward.