What should you do if you are refused a pay raise?
According to a recent survey, 37% of respondents aged 18 to 34 would leave their current job if they were not given the pay raise they want. Not surprisingly, this percentage is higher than those from older age groups.
Below is a table showing the result of a survey conducted by Robert Half on 500.
That being said, 2016 may be a bad year for jobseekers due to the possible slowdown in China’s economy that would ultimately cause an impact in Asia. This means the option for you to look for a new job is hindered. Here are some practical advices worth considering if you are refused a pay raise and are not able to secure any new job.
Start Taking Up Important Projects
It is not easy for bosses to identify good, quality workers at their workplace, especially if these workers are soft spoken. Silent workers who produce quality work are sometimes hidden behind the scene compared to their “louder” counterparts.
If you are one of these silent workers who are constantly being overshadowed by your louder, noisier colleagues, here’s a possible solution without having alter your character.
Arrange a meeting with your boss and request to take up extra responsibilities. This usually signals to your boss that you are ready to move up the corporate ladder in the company. We are of course assuming that you have already managed to carry out your current responsibility without constantly screwing it up.
Get Paper Qualification
Like it or not, people are superficial and paper qualifications are important. If you have been thinking of furthering your studies and getting that degree or Masters, 2016 might be a good time to get started, especially if your request for a pay raise has been rejected.
Attaining a paper qualification relevant to your job can assist you in your negotiation for a higher pay the next time you bring this topic up with your boss. It helps highlight your positive attitude to constantly upgrade yourself, and contribute more to the company.
More importantly, paper qualification helps you stand out from other job applicants if you are looking for a new job to get your desired pay increase.
Complain Less
Complaining to someone else might make you feel a little better in the short-run, but it hardly ever impacts or improves the situation you are in. We recommend socialising and networking rather than complaining. Sometimes, one can find opportunities by socialising with others who are outside of their social circle.
Listen to our podcast, where we have in-depth discussions on finance topics that matter to you.
Bonds and Fixed Income
6 Investments In Singapore That Provide Guaranteed Principal And Returns
Credit Cards
Complete Guide To Trust Bank’s Products And Services
