Seven Great Alternatives to a Salary Raise
In light of the current economic situation and with the global economy still feeling the after-effects of the recession, is this the right time to ask for a pay raise? How can you negotiate your raise with your employer especially if you feel that you clearly deserve it?
According to the career experts at Bayt.com, the Middle East’s #1 job site, the smart alternative would be to negotiate for benefits that won’t make your employer uncomfortable. Here are some of the benefits or perks that you can ask for during your next appraisal:
1) Negotiate for a flexible work schedule in order to achieve better work-life balance. If you are not getting that pay raise, you might as well tailor your work timings as per your own convenience. For example working from 7:00 AM to 3:00 PM will offer a working mother more room to spend quality time with her children. Flexible timings give you the opportunity to orchestrate your workday around your family commitments and don’t cost the company a cent!
2) Revisiting health insurance options with your employer is another way to add value to your compensation package. Convince your employer to extend insurance coverage to your family if they aren’t previously covered. Discuss unexplored insurance benefits like dental or vision insurance.
3) Put forward the idea of an on-site gym or make your employer mull over the idea of offering wellness benefits. Many companies agree to cover gym class memberships, provide free yoga classes and/or offer to book squash or tennis courts etc.
4) Many employees toil over having to pay for parking; strike a deal with your employer for company paid parking and there’s one less expense you have to deal with.
5) Vacation time is usually built into the company’s policies, but this is your chance to contest for more paid vacation days in lieu of no pay raise. This will give you more time to spend with your family or a chance to plan an exciting long getaway that will help you return re-energized to the workplace.
6) Cell phone service providers usually provide companies with subsidized payment plans. Explore that option with your employer and get your hands on free talk time and other rewards. You can minimize expenses and save more.
7) Put forward the idea of sending you for domestic or foreign trainings; this will hone your existing skills, expand your current knowledge base and give you a competitive edge. If the training costs are within budget, your employer will surely comply. Trainings are also a great way to network, learn more about your industry, and get exposure to current market trends. It’s a win-win situation for you and your employer equally.
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