While there is a lot of emphasis placed on preparing people for job interviews, there is not as much focus on educating people on how to negotiate money matters in the workplace.
According to Mpho Nkeli, director at Search Partners International, employers are sometimes happy that an employee cannot navigate money matters at work, as it enables them to pay employers less than they possibly could.
Talking salary is difficult, but it is even more difficult for women— Mpho Nkeli, Director at Search Partners International
Speaking to #NightTalk's Gugs Mhlungu and Sizwe Dhlomo on 702, Nkeli says that there are several factors which make it difficult for people to negotiate salaries.
Nkeli says that some people in the workplace fear failure when negotiating salaries and do not believe they are worth the salaries they are asking for..
The wrong reasons to ask for a salary is if you can't live on your salary... that's irrelevant to your employer. You're not paid according to your expenses. You are paid according to the value you add to the business— Mpho Nkeli, Director at Search Partners International
Nkeli says that the right reasons for people to ask for a higher salary is if their value in a business is increasing consistently over time.
When you go into a negotiation, you must really have facts about how you think you are contributing, what that has to do with the performance of your department, and also have an idea of how much you're looking for— Mpho Nkeli, Director at Search Partners International
Nkeli also says that employees must have facts and figures ready before negotiating a salary, so they can be confident in how they present their preposition to employers.
She says people should think about the following things before negotiating a salary:
- You want a salary
- When to enquire about negotiating a salary
- How to do it
- How to respond when your salary negotiation is unsuccessful
Listen to the conversation below:
Most companies have annual increments or adhoc salary adjustments but they take a lot of factors into cosideration #nighttalk— I'm a Believer (@Divaliscious_SA) September 14, 2016