Sometimes saving money just isn’t enough. Maybe your expenses have changed, maybe you’re not reaching your savings goals fast enough, maybe you’re in too much debt to dig yourself out of it. So you need to start earning more money as well. What’s the best way to do that? Everyone’s situation is different, but your two main choices would be to get more money at your current job, or get a different job. If you like the company you work for, and if there’s decent management, and if there’s opportunity for advancement, then you should first look for getting a raise or a promotion. Here’s a few simple steps to take that, if done properly, can result in a raise or a promotion.
Communicate
Businesses rely heavily on communication in order to function properly. They need to communicate with their customers, their customers need to be able to provide feedback, and co-workers need to be able to communicate with each other. So first and foremost, become better at talking and listening within your company. Focus on answering all questions asked of you, predict questions before they come and have the answers ready, and make people feel heard by paraphrasing what you heard back to them. If you become a great communicator, you can easily become a central piece of the company.
Secondly, speak with your direct supervisor about your intentions and desires. Set a goal for yourself, tell if to your boss, and then meet that goal, and then meet with your boss. As much as you may wish that you are able to get that promotion you deserve by simply keeping your head down and working hard, you must tell people that you want to get promoted in order to get noticed – who knows, they very well may help you get where you want to go.
Feedback
An integral part of communication is feedback. There’s two major factors here – first, provide feedback (where appropriate) for the company. Find things that are wrong, done improperly, or could just be done better – and find solutions. Don’t phrase things in a negative fashion when you do, and never speak poorly of co-workers. If you see someone doing something wrong, either approach them yourself, or in your feedback, offer to show/teach/mentor them how to do it properly.
Second, ask for feedback. Ask your subordinates how you are doing, and what you could be doing better. Ask your supervisor the same questions, and act on the feedback that you get. If their feedback doesn’t match with how you feel you are doing, don’t get upset, just recognize that you are either not performing to the standards you believe you are, or realize that there’s simply a communication or visibility issue that can be corrected – work to fix those things, and confirm when they have been fixed.
Do Your Job Exceptionally Well
Of course, all of the above won’t help you get promoted if you can’t even do your own job well. No matter how good you are at communicating or providing feedback, you still need to be able to complete your role within the company. It won’t be enough to simply do the job at a satisfactory level, you’ll have to do it really well. if you’re struggling in certain areas, don’t avoid or hide from them – that will only make the problem worse. It may seem easier and better to cover up your flaws and weaknesses, but the ability to be honest about your own skills is one of the most valuable assets a person can have.
If you’re not sure how to do that part better – ask for help. Find someone who is good at it and ask them to teach you, or approach your supervisor to see what other options you have. Also do some self-reflection to figure out what you’re best at, what your strengths are within your role, and determine how those skills can be transferable to the position you want.
Go Above and Beyond
Even if you’re doing your job really well, the only way you’ll stand out above other applicants is if you do something that is outside of the realm of “regular” work. Does your job have a boring, tedious task that everyone hates doing? Find a way to automate it. Does your role involve answering the same questions over and over? Create a FAQ or a wiki to distribute to clients/co-workers as a resource for answering those questions. Find ways to improve your role, your co-worker’s jobs, or the business as a whole. This will show that you are thinking outside of the role that you have been given, that you’re loyal to the company, and that you’re committed to improving the business.
Have you been promoted before? What did you do to ensure that the promotion was yours?
Boost Your Earnings by Getting Promoted,
I dunno about this. Years ago when I worked for small independents, I got substantial raises frequently because with just a few employees and the owners right there all day, they recognized performance. I performed, I got raises, didn’t even have to ask.
Later I spent a few years at an insurance company and raises were basically automated. Hardworkers and cordwood both got pretty much the same 3% raise every year.
The only way to make a real change (as you’ve noted) was to get a different job. And I’ve read that the best way to more money is to actually switch jobs every two years – not stick around for 5 years at the same place. And to get those job changes, it’s probably more important to just keep your eyes out and apply, compared to going above and beyond in your current position. I’ve seen more than one example of horrible performers moving up the corporate ladder based on things that are not performance based.
Be proactive. When I aimed for the promotion, I learned the job of my boss, his responsibilities as well as his daily routine. I sometimes took the initiative to prepare the report for his presentations during monthly or weekly meetings. When he left the company for a better job, I took over his position and nobody questioned it.
I truly agree with you Cherleen. Promotion can be a very genuine way of adding to your income but many mortgage their self respect to climb the ladder. Skill and handwork adds value to the money. I have learned and earned it that way. Enjoy work …. raise follows.