STRATEGY

The days of individuals asking for raises is gone for all but the smallest businesses. Today most companies create a range of percentage salary increases, based on the company's performance, which are then linked to annual performance reviews. As a result, discussions revolve around the performance review rather than the raise. The only way to get a raise outside of this system is to leverage a job offer from another company. Unfortunately, even if this effort is successful you'll likely be marked as a flight risk and become number one on your supervisor's hit list. The answer is to either just accept the other offer and leave or ask for an employment contract or termination agreement in addition to a matching raise. This is probably a very difficult request for a supervisor or company to meet. The most you can expect is that your supervisor will do their best and get back to you with an answer. In that case, make sure to add time pressure since you already have another company waiting to hear from you. A savvy supervisor may offer you something other than money or match the raise but not the termination package. Keep in mind: Neither of those counteroffers will keep you from being targeted because of this.

TACTICS

• Attitude: You love your current job, but you have to place the financial needs of your family first. No one can argue with that.

  

• Preparation: Have all the details about the new salary offer in hand and consider if there are any non‐financial counteroffers that could make it worth staying.
• Timing: Make this approach as soon as you have a formal offer from the other employer.
• Behavior: Do this in person if possible.

ADAPTATIONS

This script can be modified to:

• Leave a long‐term supplier, vendor, or professional.

KEY POINTS

• Express your love for your job and your desire to stay, but the importance of your family's financial security.
• Insist on getting the security of an employment contract or termination agreement if you're going to stay.
• Be ready to weigh non‐financial offers, if they include that termination agreement.
• Give your supervisor time to research their options, but make sure to provide a deadline.