Finding a job in the Czech Republic is relatively easy. In fact, companies fight over skilled employees, and Prague, in particular, lures workforce from other EU countries and even overseas expats with competitive salaries and promising professional growth opportunities. Just a side note – with the unemployment rate as low as 2.7%, we rank the best within the EU, and Prague shines even more, hovering around 2%. From my experience witnessing the hiring process and even looking for my own replacement in two companies, the Czech labor market still lacks experienced people capable of working in international companies or start-ups, and that’s a gap that expats fill. Yet bragging about the local market is not my point, although such a saturated market gives power to employees. You can hardly affect the macroeconomics, so let’s put that aside and focus on what’s truly important: yourself.
Your Salary is Your Responsibility
Nope, I am not about to write any motivational nonsense like the self-made people who got rich and keep telling you that even you can do so. Just buy their books and subscribe to their podcasts or workshops (which, by the way, is what made them rich in the first place). But there’s still a seed of truth in the well-marketed crap they try to sell you. Mind yourself first. That means two things – find yourself a job you enjoy and make sure your effort is appreciated accordingly. While the former is straightforward, many people struggle with the latter. What a pity for them!
Your salary likely consists of the base pay and benefits or bonuses. There’s no reason to play it safe as long as you’re confident about your efforts – I’ve always been, and it pays off. Accept (or offer) lower base pay with significant bonuses for reaching set goals or KPIs. It shows your dedication and is heavily appreciated by managers. If you do this during the job interview, asking for a bold salary structure could change the tide of the assessment process in your favor. Feel free to discuss your remuneration anytime, though.
Keeping You Pays Off
Asking for a raise is something most employees feel uncomfortable with, yet it’s simple. Way easier than handling your company’s clients – you know the playground, and there’s no reason to feel unsafe. Let me point out a few things that back your demands (unless you’re a poor worker; then you might look for a job you’d like instead).
- Your company likely invested time and resources in your personal development. General onboarding and introduction to the tools and processes related to your position are not for free, not to mention job-specific training you might have undergone since. You improved your skills and gained experience over time, so you likely work better and more effectively than when you last asked for a raise.
- You may look for a better-paid job elsewhere (as you’re more skilled than you used to be). Hiring your replacement is always costly. Generally speaking, hiring one person costs about 10 FTEs of a recruiter. That could easily cover your raise for a year even if we put other costs aside (the time you or somebody else spends training your replacement, the low efficiency of the new person within the first few weeks or months, the costs of promoting the job offer, etc.). Besides, your replacement would likely ask for more money than you get anyway.
- Hiring a new person to replace you comes with risks for your employer. The person may decide to quit during the trial period, effectively starting the hiring process over with all the costs mentioned above. This person may turn out slower than you, make more mistakes, or have health issues.
Take Over the Negotiation
Every good manager is aware of all that. Even bad managers will hear your arguments for raise if you present them smartly, preferably in one of your regular 1-on-1 meetings. Start the conversation positively:
“Hey! I’m quite confident about my work outcomes. How do you feel about them?”
As long as your superior agrees, your raise is on the way.
“Cool. Then, I believe my effort should be remunerated accordingly. Our company values good work, doesn’t it?”
It’s hard to say no if you put it this way, right? Can you imagine any superior replying something like: “No, our company does not give a shite about your work”? If there’s a bit of beating around the bush to avoid a clear reply, insist on a simple yes or no answer. In 99% of cases, it would be a reluctant yes – the manager knows where you are heading.
“I love to hear that. So I’ve been doing good work, and our dear company values such an approach. The math is quite simple then. Besides, I’ve grown professionally since my last raise, and I believe this should be reflected in my salary.”
Your manager will likely agree, but there’s always the budget mantra. All the world knows you should get some extra money, but the budget is tight!
“I understand that the market situation forces our company to cut costs, and I am obviously aware of the negative projections due to XY. However, let’s do it this way: Instead of a base pay raise, let’s agree on, say, up to 15% extra in bonuses for reaching certain goals. I happened to list them for this meeting. I am sure a manager like you can push it through – it’s not extra costs at all as it comes with profit. Instead, it’s a win-win-win situation for the company, your department, and me.”
Can you imagine anyone rejecting that? It never happened to me, nor anyone I know who has played this card – given that they did a great job. It works better than emphasizing the extra costs and risks if you took a job elsewhere, and it doesn't make you look like an extorter.
This is my #juneinleo day 17 entry. Feel free to join the challenge with own genuine long posts!