Turned Down For a Raise? Seek These Instead.

It has been more than two years since your last raise, your company having frozen all salaries in the face of tough economic times. You’re grateful for your job, but you also believe that your stellar performance warrants special recognition in the form of additional remuneration.

No Raises

You have it in your mind to ask your boss for more money and have set out a plan to meet with him and propose an increase. That meeting starts off well, but your boss knows what you’re about to say and suddenly his body language changes. Before your pitch is complete he stops you in your tracks to inform you that there will be no raises for quarter, perhaps for the remainder of the year.

An ongoing tough economy may make it difficult for you to get what you want: more money. And, with the cost of everything rising, what you made two years ago isn’t sufficient for today. Still, your company has avoided massive layoffs and furloughs, and is managing to keep pace in troubled waters.

Improved Benefits

Unless you can find work elsewhere–not an easy thing to do–you may be stuck, at least for a bit longer. No raises in the short term doesn’t mean that they won’t be forthcoming, but that also doesn’t mean you can’t seek an enhanced benefits package right now.

That is the recommendation of Bobbi Dempsey who wrote in the June 30, 2010 issue of Forbes, “Can’t Get A Raise? Negotiate Your Benefits.” Dempsey encouraged workers who have been turned down for a raise to seek better benefits as these perks are something companies may be able to give and, in some cases at no cost to the business.

Let’s take a look at some benefits worth bolstering:

Flexible Hours — Flextime is no longer the trendy benefit as it has gone mainstream. Some companies still require employees to be in the office during certain core hours such as 9 a.m. to 3 p.m., but are flexible as to when workers can arrive or leave. You won’t enjoy more money, but you could save in sitter costs if you are able to be in your home when the children come home from school.

Telecommuting — Is it possible to do all or some of your work from home? Your boss may not agree to allowing you to set up a permanent office at home, but working from home one or two days each week can save you in other ways including commuting costs and trips to the cleaner.

Vesting — I found out recently that a friend’s retirement account isn’t fully vested until his fifth work anniversary. This seems extraordinarily long and it may not be something that can be changed without a directive from senior management. Yet, if the raises are not coming and managers want to keep their best employees around, moving up the vesting schedule could benefit everyone.

Reimbursements — Fees incurred while doing business are usually picked up by the employer, but not always.  You’ve been getting mileage reimbursement for trips to see customers, but what about parking fees?  In addition, is there a seminar you would like to attend and have that expense picked up by your company?

Benefit changes costing companies little to nothing may get approved while changes involving costlier benefits may not. Your company may be in the belt-tightening mood, but that shouldn’t preclude some sort of positive action on their part to help bolster worker morale.

Adv. — Home renovation projects can provide years of enjoyment for you and your family in your current home. LetsRenovate.com offers guidance on how to get started plus valuable tips designed to save you money.

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