Generally speaking, most people worry that asking for a raise will create more negative than positive results. This is so prevalent that many people would prefer to take another job than asking for a pay rise. Getting a pay rise feels great, but asking for one usually doesn’t.
If you take another job, it’s not great for the dealership. It creates more work for them in recruitment, to find a replacement and to train them. This can create an opportunity for joint problem-solving. To handle it diplomatically, you could let the Dealer Principal know that you’re not in the market for a new position; however you’d like to arrange a meeting to discuss income potential and opportunities for growth. They’ll understand the context of the conversation, and this approach allows you to discuss the topic strategically to find a win-win. The dealer deserves a chance to respond to what you’re thinking before you start looking elsewhere.
If you truly believe you are deserving of a pay rise, we’ve put together a couple of guidelines to consider;
Your ability to create value
Your ability to create value depends quite a bit on which department you’re based in. If you’re in accounts or administration, your role may not create value the same way a sales department role does. This certainly does not make your role any less valuable; however your negotiation would look different. When asking for a pay rise in administration you’d highlight your efficiency, accuracy and productivity, whereas a sales role would focus on the profits you bring into the dealership based on your sales figures. If you’re confident, you know where your skills and talents are.
Perhaps the most suitable time to discuss salary expectations is during performance reviews. However, timing can overrule this. If you’ve had a tough month in sales, it may not be the best time to raise the topic. It’s also not the best idea to ask for a meeting to discuss your remuneration in the last weeks of the financial year. DPs, GMs and Financial Controllers alike have more than enough on their plate at this time of year, and your request might fall on deaf ears if you ask during the busiest time of the year.
We’ve taken this paragraph about ‘how to know if you’re hitting the mark’ from this article:
You complete every assignment ahead of time and budget. You come up with creative, game-changing ideas to cultivate valuable contacts, along the way delighting customers and teammates alike. You remove burdens from your boss. You take on the thorniest problems and solve them, and you create great team dynamics, spreading harmony wherever you go.
If this sounds like you, then you might be on the right track to asking for a pay rise. You can read more here.