The “fear of rejection” is holding Brits back from getting a pay rise, according to a study by recruitment agency Randstad.
The study found that 72% of UK employees have not asked for an increase in the past three years. Factors that deter employees included fear of being turned down (35.1%), include the boss’s reaction (34%), and the prospect of having to justify yourself (29%).
Mark Bull, UK CEO of global recruitment consultancy Randstad, said: “Despite signs pointing to a shortage of professional skills in certain sectors, UK employees still aren’t taking advantage of the increasingly open employment market. With nearly three quarters not pushing for more money, and with explanations ranging from fear of rejection to jeopardising their current roles, questions should be raised about whether UK employers are creating the right working environment for their employees to stay and seek progression.”
Randstad’s top three tips for securing pay rise:
1. Timing is everything. Get an idea as to when the budgets are agreed for the next calendar year. Most companies already have a clear policy on when pay rises can be agreed and will rarely flex the policy mid-term so be ready to acknowledge to your boss that your request is atypical if asking outside of the usual pay review cycle.
2.Do your research to get a solid understanding of the industry standards and general expectations for your role. If you feel undervalued, it’s worth looking at comparable positions in your sector to back up your claim. Building a well-researched case is vital to appearing professional and convincing your manager you’re worth the boost.
3. Draw on examples to illustrate where you’ve gone above and beyond your job description. Build your case for why you deserve a bigger pay packet and be prepared to back that up with hard facts – from sales figures to revenue you’ve helped secure.