1) Record Your Progress
Keep records of any kind of quantifiable goals you have meet, improvements you have made, or revenue that you have earned or saved the company. This will show your employer that keeping you happy to be on the team is a great investment and that you are an important part of the company’s success and growth. Also, save any emails from others praising your work. This will show that you are a valuable team player.
2) Look Beyond the Salary
If you are otherwise satisfied with your employer and know that it is just not in the budget to offer you a raise, consider other benefits that your employer could offer that are of value to you. Could your employer offer you more vacation days, a company car, better medical coverage or pay for additional education or training? These types of benefits could possibly add up to a bigger value for you than a nominal raise.
3) Make A Trade
Do you see a way that you can make your employer more money? If your company does not see room in the budget for a salary increase, make room! You can propose an incentivized salary increase or bonus in exchange for bringing in more business or profit for the employer. Most employers will see this as a win-win proposition for you both! Many times employers will do this on their own to encourage growth and incentivize productivity.
4) Increase your value
If you have more skills to apply to your projects, employers will be more likely to see you as an asset to the company, especially if you can do work they might be considering finding someone else to do. Find ways to expand you skills set by looking for fast, low cost, valuable training options that are compatible with your work schedule. For example, if you work for a creative or marketing agency, learn to use a new design software. If your company seems to be in need of more quality assurance, waste reduction, and project management, consider getting a six sigma certification from an online provider like My Six Sigma Trainer.
5) Consider Your Options
If you feel that there’s no way to advance with your current employer or other companies in your sector, it may be time to strike out on your own or think about other sectors that might have greater earning potential. Take a look at which industries are growing right now, what kinds of jobs are most available on job boards, etc. and think about whether or not you could qualify for any of those positions. Do some research and decide if there is a need for a business that you could start on your own. Save as much as you can and start with a home office. Entrepreneurship is risky, but can also be very rewarding.