How to get a pay rise in the economic downturn?

Given the current situation, this question sounds paradoxical and surrealistic. Nowadays we hear bad news of the economic downturn around the world: hundreds of thousands of lay-off, cost cutting etc. Hence, many people are anxious about the possibility of being blacklisted. Surviving is already difficult, let alone ask for a pay rise. However, you can get a salary raise! Let’s discover how.

Widening your knowledge
Don’t hesitate to attend refresher and soft-skills training or simply a favorite course. The current situation is the ideal time to take part in these knowledge – widening courses. In addition, you can broaden your knowledge with hands-on experience. Let your manager know you want to support other departments or take more responsibilities etc. However; first and foremost, you should prepare well to be able to finish your work satisfactorily. “Can-do” attitude is always encouraged but good results are still the most important factor for evaluating your performance.

Being creative
Few employees realize that creativity is one of the best tools helping them to get pay rises and advance in their career. In a short time, Toyota’s staffs have created millions of new ideas which help the corporation to improve and develop new products. Therefore, managers always highly value creative people because they are the valuable resources to foster corporate growth, especially in the current economic situation.
If until now you haven’t paid much attention to creativity power, the current situation is the right time to exploit it. Check tasks you are working on and products you are developing to find out ways to streamline the working process and improve products. Undoubtedly, you will be able to create many better products. On the contrary, if you haven’t been a “creative man/woman”, try to research more on your company, strengths and weaknesses as well as its competitors. Surely, you will stand a good a chance of finding many interesting things.

Always pioneering in your jobs
If you are delegated to participate in a new project or campaign, you should consent to this assignment immediately with happiness, enthusiasm and high spirits. If the manager asks who wishes to attend new projects, you should be the first volunteer when other people still hesitate. Be the pioneer in those ad hoc projects. By completing tasks in time, you will stand out and become a reliable person to you boss. This is also a great opportunity to discover your potentiality and develop yourself.
Employees who prove that they are enthusiastic, flexible and willing to experience and learn new things will get more attention from managers.

Keeping records of your achievements
The purpose of doing it is not to boast about your achievements (though it’s worth doing it!), but to collect evidence to present to your boss for a pay rise. Hence, you should keep records every time you perform tasks excellently, find out ways to help the company save time and money, retain V.I.P clients or attract new prospects. They will be your valuable “weapons” to confidently ask for a pay rise. Besides, if you look for a new job, these achievement records will help you become a valuable candidate to the employers.

Staying loyal
Assuming that your company can hardly survive in the current economic situation nor give you a pay rise or promotion. Therefore, you want to quit your organization to find new promising lands. Why don’t you think it over again? If you stick by the company and take on challenges, you will reap the rewards when it moves forward again once the economy has become stable. Indeed, loyalty is always highly valued, not only in the financial turmoil.

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