4 Things To Know About Negotiating Salary In 2023 (And Beyond)

4 Things To Know About Negotiating Salary In 2023 (And Beyond)

Salary negotiations can be tricky, but there’s no escaping them. At some point in your career, whether you’re applying for a job or angling for a promotion, you’ll find yourself in the middle of a salary negotiation.

These conversations don’t have to be uncomfortable. Like anything in life, knowledge and preparation can make all the difference. As an employee, if you know your value and you can back it up with quantifiable results, you can make a compelling case during your salary negotiations.

However, there are always everchanging trends and things that job seekers should be on the lookout for as they prepare to negotiate their salary.

The Economy Can Change In A Heartbeat

Businesspeople where masks during COVID-19

This is an important factor to remember and 2020 was a good example of how quickly the economy can change. As a result of the COVID-19 pandemic shutting down businesses and changing business models, many companies were forced to lay off employees.

With the availability of vaccines in 2021, businesses started to reopen but the market is completely different. For example, industries impacted significantly by the pandemic such as restaurants, retail, hospitality, and seasonal jobs are struggling to fill jobs and are raising wages to entice job seekers to work for them.

On the other hand, many employees got a taste of remote work in 2020, so the demand for remote jobs is on the rise. A recent FlexJobs survey found that after the pandemic, 65% of people still want to work remotely full time, and another 33% prefer a hybrid work arrangement where they split their time on the clock between the office and home.

Many in-demand industries like tech & software, cybersecurity, e-commerce, gaming, and telemedicine are all jobs that lend themselves to remote work and the market for such roles will be extra competitive. If you find yourself looking for a job in one of these industries, or other in-demand industries, you may be going up against people who have very similar skill sets.

This could significantly impact your value, especially if you live in a market where there are more qualified people with the same skill sets than available jobs. In these cases, you’ll have to go the extra mile to stand out, and you could still be looking at a small salary reduction.

But, on the opposite end of the spectrum, if you live in a market where your skills are in demand and there’s not much competition, you may be able to use that to your advantage during salary negotiations.

Salary largely depends on experience, location, and economic conditions. All of these things can be very fluid and that’s why doing research is so important.

Speaking of research…

Never Stop Doing Research

Salary research isn’t just limited to those looking for work. It’s something that all professionals should do.

Even if things are going well with your job, and you’re not necessarily in the market for a salary increase, it’s still a good idea to check the market sometimes to see what the average salary for your position is at any point in time.

The need for consistent salary research is even more important in the post-pandemic economy where there are so many fluctuations in the market. Every industry was impacted differently by COVID-19 and this will ultimately play a role in salary increases that companies offer current employees and salaries offered to new employees.

According to research published on the Society for Human Resource Management website, company leaders were expected to increase compensation in 2021 by between 2.6% and 3%, but industries will continue to be affected unevenly, just as they were in 2020.

There are free resources available that can give some valuable information about job salaries. Glassdoor has a salary calculator that allows professionals to enter information about their current career, job experience, and market to give estimated market value.

The more information you have about your value, the more comfortable you’ll feel about negotiating salary. It’s also important to remember that salary is only one part of the equation. Many companies offer strong employee benefits packages that include good health insurance and retirement benefits, along with generous paid time off and other perks.

Salaries Are Always Changing

An employee looks over their paycheck after successfully negotiating a higher salary

Just because you make a certain salary today doesn’t mean that it’s going to stay that way or increase. Job responsibilities and requirements can change, and the best employees are the ones who are usually a step ahead and show a willingness to be flexible.

Take a step back once in a while and think about how your job is changing. Acquire the necessary skill sets that you need to stay ahead, and take time to find ways to go the extra mile and expand your job responsibilities. By doing this, you’re not only growing within your job position, but you could be setting yourself up to move up within the company.

These characteristics will prepare you for not only being able to justify your salary but give you some leverage in salary negotiations if you’re seeking a salary increase.

Salary And Career Planning Go Hand In Hand

An employee celebrates getting good career news at work

Salary increases don’t typically just happen by accident. They’re usually a result of hard work and continued career growth. From the moment you start a job, you should always be thinking about ways to not only meet expectations but exceed them.

By putting together a career map, you can plan out your goals and strategies for gradually increasing your value as an employee. As you check off these accomplishments, you can get a sense of whether you’re on schedule, or even ahead of schedule, to reach certain career milestones.

Keeping track of these milestones is important because it can help determine the right time to bring up the topic of salary and bolster your case during negotiations. Remember, you’re a business-of-one, and it’s important to always know the value that you provide to your employer.

Some salary negotiation strategies will never change, but it’s going to be important to keep track of post-pandemic trends and their impacts on salary, at least for the immediate future.

Need more help with salary negotiations?

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This article was originally published at an earlier date.



How To Keep Your Job During A Recession

How To Keep Your Job During A Recession

I struggle to write about this subject because it might suggest that there are special strategies to keep your job during a recession. There is no guarantee anyone will keep their job during a recession. But there are some things you can do to increase your chances, some things that are in your control.

I personally believe an excellent work ethic helps you keep your job during an economic downturn. This very strategy will also help you move up the corporate ladder in good times.

Regardless of the economic climate, one should always practice a good work ethic. There are other things you need to do too, though.

Here’s how to keep your job during a recession…

1. Be Nice

Woman is kind to her coworker during a recession

It feels funny to even remind people of this common courtesy. But in a recession where jobs are threatened, we all can guess who will be put on the chopping list between two employees of equal caliber.

If you have been nasty to co-workers, perhaps it is time to reflect and start changing. Smile more often, compliment your colleagues, and offer words of encouragement, kindness, and wisdom.

2. Be A Competitive Advantage

Man adds value to his team during a recession

Ideally, you are already a competitive advantage to your team. It’s never too late to start if you have never thought about this. What is it that you can uniquely offer to your team that others cannot? Do you have a specific skill set? Are you knowledgeable in a certain area of business? How do you show your value at work?

If you are a competitive advantage to your team, you have a better chance of keeping your job during a recession.

3. Work Hard

Two co-workers work hard during a recession

Working hard implies a few things. It says you are willing to sacrifice. It says you enjoy your job. It also says you add more value to the company because you are churning out more than an average employee.

During a recession when everyone is expected to work with limited resources, the one who can work harder will likely triumph.

4. Do More & Talk Less

Woman hopes she will keep her job during the recession

If your mom has told you to “do more and talk less,” heed that advice now. If you are someone who complains, blames, and gossips, you had better stop now. No one will tolerate a terrible co-worker, a complainer, or someone who casts blame or spends too much time gossiping in good times, much less during a recession. How will all these help in keeping and maintaining your job?

Take personal responsibility for your own actions and stop blaming others. If it can be fixed, stop complaining. If it cannot be fixed, no amount of complaining will fix it. Offer a solution instead. Be a valuable, helpful employee—not a negative, counterproductive one.

5. Increase Revenue And/Or Cut Costs

This will be a constant theme among companies and you should make that your mantra, too. You are a business-of-one. How you justify your employment, especially during a recession, is by your ability to either make or save your employer money.

Think about how you can positively contribute to the company’s bottom line, and start working towards that goal now. This, if nothing else, will help you keep your job.

During a recession, be thankful and happy that you have a job. But, also don’t take it for granted. Be nice to your co-workers, work hard, and genuinely contribute to the company’s vision and bottom line, always thinking about how you can save or make your employer money. If you do these things, you’ll increase your chances of keeping your job during a recession.

Need more help keeping your job during a recession?

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This article was originally published at an earlier date.

Executive Spotlight: The Hottest (And Most Valuable) Skill Set In Your Industry Right Now

Executive Spotlight: The Hottest (And Most Valuable) Skill Set In Your Industry Right Now

If you want to stay relevant in your industry, you need to constantly think about the value you provide as a business-of-one. Do you have the expertise required to do your job, and do it well—better than almost everyone else? You also need to make sure you’re developing your skills so you don’t fall behind and get pushed out by someone more qualified. But what skills are the most valuable (and in demand)?

We recently asked our leading executives what the hottest skill set in their industry is right now, so you can get a competitive advantage.

Here are their responses…

Percy Leon, Digital Media Content Executive

content creation concept

The hottest skill set right now in my industry is professional content creation. This is because employers are increasingly looking for people who can produce high-quality content that is engaging and informative.

Content creators who can consistently produce great work are in high demand, as they can help companies to reach a wider audience and build a strong online presence.

Additionally, professional content creators often have a deep understanding of their industry and are up to date on the latest trends. This makes them valuable assets to any company, as they can provide insights that other employees may not be aware of.

For content creators, the ability to produce great work is often accompanied by a sense of satisfaction and fulfillment. This is because they can use their skills to make a positive impact on the world. Additionally, many content creators feel a deep sense of connection to their audience and enjoy being able to connect with people from all over the globe.

Finally, content creation often allows creators to work from home, which gives them more flexibility and freedom when it comes to scheduling and family life. For all these reasons, professional content creation is a highly sought-after skill set in today’s job market.

Percy Leon is a digital media content producer specializing in educational technology and entertainment. He is interested in web3, metaverse, and the use of virtual reality for storytelling.

Lisa Perry, Global Marketing Executive

Marketing professional makes a presentation at work

If you’ve been in marketing for a while, you know that marketers constantly reinvent themselves ensuring they are in demand. Here are three marketing skills that are in demand right now:

Digital Marketing: Half of the top 10 jobs posted on LinkedIn are in the digital space. The existence of digital marketing is focused on company growth which includes driving brand awareness, promoting products/services, creating customer leads, driving conversions, and ensuring ROI.

Analytical Thinking: It’s your ability to use logical reasoning, make informed decisions, and solve problems. Are you able to review the impact of your work, (i.e., is this campaign working?) and adjust accordingly? Can you find market trends and translate them into concise, actionable insights?

Strong Communication Skills: Successful marketing communication requires understanding your audience, communicating in a way that encourages meaningful conversations, and determining the optimal combination of platforms that drives engagement. If done right, your brand could see increased brand awareness, leads, and conversions.

Lisa Perry helps companies build leadership brands, driving loyal customers & delivering profitability. She does this through a process that builds brands consumers love. Her goal is to help companies develop, monetize, and grow their brands.

Sarita Kincaid, Tech Media Executive

Communications and business professionals look at data during a work meeting

The job market is getting more competitive for corporate communications professionals, so what one skill will make candidates stand out from the field in 2022? It’s not the ability to pitch and place articles in the media, to drive awareness through social media, nor to create and drive successful brand preference campaigns—those skills are table stakes.

The most important differentiator making communications candidates stand out with employers is the ability to source, interpret, and act on findings from data. But, what does data have to do with public relations, analyst relations, and employee relations? Everything!

Savvy comms professionals are leveraging data generated from AI-enabled software to help determine sentiment analysis, utilize analytics to determine the likelihood of article and report placement, link outbound programs to ROI/revenue, test crisis comms language, and coach spokespersons.

Being able to demonstrate how you have leveraged data to drive quantifiable results and ROI/revenue, will make any communications professional stand out in a very competitive job market.

Sarita Kincaid is a tech media executive with a demonstrated ability to build and grow award-winning programs. She brings a data-driven approach to influencer relations with a focus on developing strong brand advocates and aligning them with sales programs.

What’s the hottest skill set in your industry right now? Join the conversation inside Work It Daily’s Executive Program.

5 Things To Do Before Your Next Job Interview

5 Things To Do Before Your Next Job Interview

Congrats! You landed a job interview. Now, how are you going to ace it and move on in the hiring process?

There are a few things that are absolutely CRITICAL to interview success. If you want to get a job offer, you’ve got to do these things before an interview.

Research The Company

Before you go into an interview, whether it’s a phone screen, in-person, group, panel, or virtual interview, you MUST do your homework on the company. You want to understand the companies to which you’re applying BEFORE the interview. That way, when they ask, “So, what do you know about us?” you’ll have a solid answer and won’t be flustered. (P.S. The last thing you want to say is, “Oh, not much. I was hoping you’d tell me!”)

Understand What Salary Range Is Competitive

Woman smiles during her job interview

Always, always, always understand what’s the going rate for your position in your industry. The hard truth is you might not make the same salary as your last job. You need to understand what’s a competitive salary BEFORE you apply for a job (and especially before you get into the interview process). Otherwise, you risk pricing yourself out of the job right off the bat, or worse, selling yourself short.

Know What You Bring To The Table

Young job candidate talking about what he can bring to the company during a job interview.

Know exactly what you bring to the table in terms of value. Why are you going to be an asset to this company? What problem are you going to solve and how will you solve it better than the ‘other guy’? You need to understand this inside and out. Otherwise, you’re going to have a hard time selling yourself to the interviewer.

Prepare Some Examples Of Your Wins

Man writes down his answers to interview questions

Examples help you back up your claims. They’re proof that you’ve been there, done that, and did it well. Prepare some relevant, quantifiable accomplishments that you can bring up during the interview to reinforce your skill sets.

Practice Your Delivery

Young woman practicing her delivery with two co-workers before her next job interview.

Practice makes perfect! The more you practice, the more comfortable you’ll be when you’re in the interview. You’ll look calm, focused, and confident. Consider doing a mock interview with a friend or a career coach beforehand to get you warmed up for the real thing!

By doing these key things, you’ll be one step closer to acing your next job interview and getting an offer. Good luck!

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This article was originally published at an earlier date.

How To Effectively Demonstrate Your Value In A Job Interview

How To Effectively Demonstrate Your Value In A Job Interview

One of the most common reasons candidates get rejected after a job interview is that they don’t provide enough relevant, tangible examples of what they’ve done in their current/previous job that would be relevant to the position they are seeking.

When you’re looking for a new job, you need to provide specific concrete examples of the competencies listed on a job description—whether it is problem-solving, influencing, taking initiative, or managing change.

A lot of job seekers will give generic examples or just talk about what they’ve done—but without mentioning specific accomplishments. You could be very good at your current job, but if you struggle to effectively demonstrate your expertise and value in a job interview, you may miss out on your next career opportunity.

Here are a few tips to help you overcome any blocks you might have about talking about your achievements:

Discussing Accomplishments Isn’t Bragging

One of the reasons candidates shy away from talking about their accomplishments is because they don’t want to sound arrogant. However, the job interview isn’t the time to be too humble. Talking about your accomplishments and using facts and numbers isn’t bragging—it’s telling a story.

You have to remember that a potential employer wants you to do well in an interview. They are literally looking for an excuse to give out the job! So, tell them what they need in a clear, factual manner.

Demonstrate How You Overcome Challenges

Man demonstrates how he's overcome challenges in a job interview

A great way to answer questions while highlighting your skills and accomplishments is by using the “Experience + Learn = Grow” model and/or the STAR technique (situation, task, action, result).

What was the situation/problem? How did you solve this problem/overcome this setback? What did you learn from this experience? How did you apply what you learned to your career?

These methods are particularly beneficial when you’re answering behavioral interview questions that hiring managers ask to see if a candidate has enough self-awareness to know what they’re good at, and what skill sets need improvement.

Use Numbers To Your Advantage

A job seeker discusses some of her quantifiable accomplishments in a job interview

Numbers are great for demonstrating your skills and expertise. Did you increase revenue, or save time/money? Did you improve a procedure and, if so, how much time did you save? How many clients did you win in your last job? Don’t just tell the employer what the result was. Tell them how you got the result and what your decision-making process was.

Prepare several examples of quantifiable results for your next job interview and you’ll significantly increase your chances of getting that job offer!

Need more help preparing for your next job interview?

We’d love it if you joined our FREE community. It’s a private, online platform where workers, just like you, are coming together to learn and grow into powerful Workplace Renegades. More importantly, we have tons of resources inside our community that can help you prepare for your next job interview.

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This article was originally published at an earlier date.

6 Ways To Show Your Value (Without Being A Jerk)

6 Ways To Show Your Value (Without Being A Jerk)

Team dynamics can often be difficult to negotiate. At work, generally speaking, you are on a team and you contribute. The problem is that you also want to elevate your career and stand out to your boss. So, how can you do that without the rest of the team feeling like you are a jerk (or worse)?

I’ve had the gift of working in amazing environments on rock star teams. I have also had the (ahem) opposite experience. I’ve managed teams, been part of teams, as well as been an individual contributor, and through these years, I’ve found there are a few surefire ways to show you’re an asset without being a show-off.

Here’s how you can effectively show your value at work (without being a jerk):

1. Do What You Say

My favorite direct reports were good for their word. They were trustworthy. You could truly count on them to deliver, and not just for me. I would see these team members and teammates always doing what they said they would. People notice. It might not seem like it, but when you do what you say always, you will get the important assignments. Being the one that does the important stuff is viewed as valuable, and you’re valuable without being a jerk—you’re the good guy that people can count on to get stuff done.

2. Solve Problems

Woman talks to her coworkers

The people who come to me with solutions stand out. Problem solvers who are actively working on solutions to organizational challenges stand out for obvious reasons. They care about the problems of the company and are taking the time to solve them. There is a BIG difference between people who solve problems and people who try not to create them. The problem solvers stand out. And when they include others in the solution, all the better, because they are showing me that they are leaders who can activate others to join the cause of solving the big problems we’re facing.

3. Share In Victory

Excited employees celebrate at work

Further, managers know that a team builds a victory and solves a problem together. Good managers also can see who’s doing the lion’s share of the work and really contributing to the victory. If it’s you, be sure you are gracious in sharing that victory with the team—that stands out to good managers and to the team.

4. Focus On The Mission

Coworkers work together on a project

Be monomaniacal about achieving the goals of the company and the team. When you see the team headed down a rabbit hole, gently guide them back to land. Be the one who is focused on achieving the goals and you will stand out. You might be considered a jerk for being the one who asks for focus by the ones who are unfocused, but they will forgive you when you achieve the goals, solve the problems, and share the victory (see above).

5. Be A Trusted Resource

Woman talks during a work meeting

I frequently advocate being a student of your industry. This is applicable to standing out without being perceived as a jerk when you are sharing information with your teammates about the industry and the business. When you are the go-to for information and insights, you are going to stand out. However, if you do this in a smarty-pants spirit, you are on a slippery slope to Jerktown, population: 1.

Being a trusted resource means you are sharing information in the spirit of continuous learning and development. Share that you saw something interesting in the media about the company, competitor, or industry. And when you share this information, offer an insight and an initiation to hear what the recipient of this information thinks.

6. No Brag, Just Fact

Man talks to his coworker

If you do awesome work, it’s ok to privately share what you’re proud of with your manager—key word, privately. Schedule time to share your excitement with your manager. You should try to have monthly check-ins with your manager so that you can gather feedback and continue to advance your career. Keep in mind when you are privately sharing your work with your manager, do it from a place of excitement and pride, not from a place of ego and bragger-y. Excitement is contagious. Your manager may also be able to help you take the work even further.

Need more help showing your value at work?

We’d love it if you joined our FREE community. It’s a private, online platform where workers, just like you, are coming together to learn and grow into powerful Workplace Renegades. More importantly, we have tons of resources inside our community that can help you advance your career.

Join our FREE community today to finally become an empowered business-of-one!

This article was originally published at an earlier date.