It is daunting to many when asking for a promotion or a raise. We have spoken with and helped numerous individuals prepare for this and wanted to share a few tips that could help. When you look to discuss an internal promotion there are a few things you could do to help sway the conversation in your favor. Here is our take on how to negotiate internal promotions.
Understand your value
Do not engage in negotiations or conversations with your superior until you have done a deep dive into your own value at the organization. This will be the basis of your argument when asking for a promotion so make sure you have this ironed out. This means having real, tangible evidence of impact and being able to quantify it. When you look to negotiate internal promotions your impact is the core argument you are making.
Have you grown accounts? Helped client retention rates? Decreased spend by making the process more efficient? Whatever it is make sure you have the facts and figures to support it. Something that allows you to highlight your importance and differentiate yourself from your peers in a demonstrative way.
Timing, timing, timing
We cannot emphasize enough how important the proper timing is when looking to negotiate a promotion. Making sure the company is in good financial shape is a big piece of this. This also means do not go asking six months into a new role or because another member of your team just received one.
The best time to usually do this is during your yearly review session. If you do not have a formal one set up make it a point to speak with your manager about creating one. This needs to be something you can regularly have with your superior so you both understand how important it is and can plan accordingly.
Communication
Like anything, this is a conversation more than a demand. Go in with empathy and plan to understand the points they may bring to the table. If your manager has your best interest in mind they will be doing everything they can to support your growth but some things may be out of their hands.
When you negotiate internal promotions be prepared that the answer may be “No”. Sometimes budgetary restrictions and timing just isn’t’ right. You have made a strong case but other circumstances impact the ability for a promotion. Set a date in the future with your manager and use the time in between to build an even stronger argument. If it is a budgetary issue are there non monetary pieces you could negotiate? More PTO, more flexibility or remote working days. It is a negotiation so be prepared to work through it with your manager.
Hope these tips help!
Reach out to Daniel Wilberschied if you are thinking about making a move either internally or externally! Check out our Smith Hanley Associates page for more blogs and videos on these type of topics. Here to help!
