Tough times across Australia have seen many teams in the engineering profession shrink and pay conditions slide. So in a tight market, what’s the trick to getting a better deal at work? SouthTech has identified five key tips for employees – and it’s more than just meeting your project targets each month.
You need to develop a personal strategy, demonstrate your value to your employer and come up with viable fresh ideas for the business.
SouthTech executive general manager Paul Barbaro said work needs to be thought of like an investment market.
“Think of it like the investment market. A company may post a good profit but industry analysts want to see sound strategic growth plans before they’ll recommend the business as a buy option,” he said.
“It’s the same with bosses – when it comes to pay increase considerations for engineering and other resources industry roles, they don’t just look at how you’re performing now, they look at your future value.
“Getting a bigger share of the pie – whether it’s a pay increase, a bonus or benefit – takes perseverance. You have to ask for it, but you’ve also got to work for it.”
Here are some ideas to get you started on neogotiating the deal that matches your true value.
Develop a personal strategy. To be successful, you’ve got to know where you want to go and how you’re going to get there! There’s plenty of strategy templates online for companies – adapt one to suit your own personal strategy. Be brave and run through this with your boss – they’ll be impressed with your commitment!
Prove your current value.Track how the work you do adds to the bottom line and how you execute it in tandem with company values. Pinpoint specific tasks that show how you support a project whether it’s in planning, review or through creating efficiencies.
Show your future value. As part of your plan show how you contribute to innovation. Review your company’s strategy or vision and pick an area where you can help (talk with your boss or colleagues to ensure you hit the mark).
Sharpen skills that really matter and will help the business financially. For example, brush up on your negotiation or project management skills, or build stronger relationships with your suppliers to drive efficiencies.
Surprise and delight your boss. Employers love new ideas for customers so identify areas that could do with a makeover and do it. Organise a 10 minute chat with your boss once a month to outline your ideas.
Finally, be realistic. There simply may not be money in the pot so try negotiating for additional benefits instead – like even more training (right on trend at the moment), flexible work hours, or even ask for a mentor.