A few months ago, you were preparing to ask your boss for the raise you’ve been waiting for. Then, Covid-19 hit.
Now, we’re in wave two and many businesses are still struggling.
The good news? Covid-19 is setting a large number of people up for the ability to get significant raises or promotions.
For some, a raise is right around the corner.
Many companies are thriving through the adversity of this pandemic—from healthcare and supplement companies to online knowledge businesses and supermarkets. If you’re in a thriving sector, then there’s no need to wait any longer to ask for your raise.
For others, the best strategy is to wait it out.
If your company isn’t thriving but you have done an outstanding job leading your company through Covid-19, then I suggest waiting until the scare is over. Waiting a couple months until sales have begun to increase again shows that you understand the business.
Know your worth.
If your company took a large hit or shut down altogether, asking for a raise gets a little tricker. The first thing to do is to know your market value. Look online or speak with colleagues to understand what others are making in your role. If you’re under the market value and you are an excellent employee, then your employer likely wants to keep you around.
Before you go in, document your 5 to 10 most successful projects and results you brought to table. Look for the biggest challenges in the company and write down solutions. Bring this to your boss when you have your conversation on how to add value to company.
Here’s how you can approach your boss during the pandemic:
“What I’m about to ask you may sound selfish with the Covid-19 outbreak that’s happening. What I want you to know is that I was planning to speak with you before the outbreak because I feel that I bring a lot of value to the company through doing XYZ projects. I’d like to talk to you today about some ideas I have to move the company forward and grow within the organization.”
Then continue on with reviewing your ideas and letting your boss know you’d like to discuss compensation. If today isn’t the day to talk about compensation, ask for a meeting 90 days from now in which you can review again. Then, get to work on your ideas.
There will be jobs created out of the Covid-19 crisis and many employees will get promotions and raises during this time.
Make no mistake—the ones advancing will be the ones who ask to advance.
In the meantime, don’t sit on your heels and wait for things to get easier. Create and come up with solutions to help your company now.
After all, you don’t need a title to lead in a time of crisis.
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