Do you feel that you deserve a higher salary? The fastest way to increase your income is to ask for a raise. But if you just ask your boss for a raise without giving him any reasons why you deserve one, you're less likely to succeed. These 4 basic guidelines can help you plan and prepare to explain to your boss why you deserve a pay raise.
Research
Start by finding out what the going rate is for those working in your field. Check out job listings for jobs similar to yours, and study published salary reports. If you belong to a professional organization, find out if they have salary information available. Be sure to factor in the number of years you have worked in the field and for your current employer. Settle on a range rather than a specific figure, and be prepared to negotiate.
Also, find out how your company is doing. Pay attention to the company grapevine or check business news and reports to gauge your company's financial health. If your company is facing financial difficulties, you are unlikely to get a raise, so you may need to wait a while till the time is right.
Prepare your evidence
You should emphasize how you have performed above and beyond your job specifications to justify why you deserve a corresponding pay increase. Approach this task as if you are preparing for a job interview or a major sales presentation. Write down any major accomplishments that you have achieved during your time with the company. Also note any additional responsibilities that you have taken on. Examples of evidence you might present are solid numbers of revenue you earned, costs saved, client testimonials praising your customer service, tight deadlines you've beaten, products and/or services you've improved, and so on.
However, do not cite your personal needs as a reason for needing a raise. This is not the time to bring up your mortgage or the payments for your new car. The salary your employer pays you is for value of the work you do, not the expenses you have.
Decide how you'll respond to a rejection
Before you even walk into your boss' office, you should give some thought to what to do if you don't get the raise. Will you continue to work for the company and ask again at a later date? Or will you look for another job that will pay you what you feel you're worth?
If you are otherwise happy at the company and plan to stay even if you don't get a raise, then ask your supervisor what you can do to increase your salary in the future – such as taking on additional responsibilities or improving your performance. Also, don't overlook non-monetary benefits such as additional leave, training and other perks.
If your decision to stay at the company hinges on whether you get the raise, resist the urge to frame your request as an ultimatum. Threatening to quit if you don't get the raise will make you look unprofessional – and your boss might take you up on your offer. Even if you are positive that you will leave if you don't get the raise, don't make this the focus of your request. And if your request for a raise is denied, accept the rejection gracefully, thank your supervisor for his time, and then go about your job search quietly and professionally.
Ask for a raise!
You've done your research and have a file folder of irrefutable evidence. You even have an exit strategy in the event of a rejection. Now is the time to ask.
Schedule a face-to-face meeting with your supervisor that allows plenty of time for you to make your case. Also, it makes it harder for your boss to say no when you are right there to overcome any objections. Let him know in advance that you wish to discuss your compensation to give him time to consult with HR and his own supervisor. Be polite but firm, and don't get emotional.
Asking for a raise may seem daunting, but it's an important negotiation skill that you'll be able to add to your repertoire. Plus, when you are successful, you'll be earning extra money so you'll have a real reward to show for your efforts. So, be positive and ask for what you're worth!
Senin, 27 Juli 2009
Kamis, 23 Juli 2009
Private pension given green light.
Those not involved in current pension scheme can rejoice. A private pension funds scheme will kick off by next year.
The announcement was made by Minister in the Prime Minister’s Department Tan Sri Nor Mohamed Yakcop, who said the new scheme would target the two million self-employed and those who were outside the current pension scheme.
The media reports quoted him as saying that the new pension funds could either be operated by new fund management firms to be licensed by the Securities Commission, or by existing firms.
He added that the funds would be regulated by the Securities Commission.
Rabu, 22 Juli 2009
Panasonic: More R&D talents required
The hardest hit industry at the times of economic turmoil would usually be manufacturing, and that means the electronic and electrical equipment producers as well. We have heard of retrenchment and job freezes announcement coming from this sector. Yet, there are still good news, and this time it comes from Panasonic.
In an exclusive interview with JobsDB Malaysia, Panasonic Management Malaysia Sdn Bhd’s director, Mikio Matsui noted that the company is expanding its Research & Development (R&D) centre in Malaysia and is seeking talents to be part of it.
“Regardless of the function in the company, we always need new human resources, and now we wish to highlight the importance of R&D function more in Malaysia,” he said.
He pointed out that this was in contrast with in early days (Panasonic set up its business in Malaysia back in 1965), the jobs available for Malaysians has always been labour intensive.
“Now, Malaysia is no longer a country for cheaper labour, compared to other countries in this region,” Matsui said, “Panasonic understand this point, and at the same time Malaysia has been very successfully developing young talents in R&D.”
The company’s assistant general Manager, Wytinne Cheng, noted that in Malaysia alone there are 400 engineers working in the R&D centres throughout Malaysia. Panasonic has 20 companies in Malaysia consisting of manufacturing plants, R&D centres, sales & services companies and management offices with diversified business segments.
“Not many know this, but we have a software lab in Cyberjaya, which started with 20 staff, and now we are planning to expand it to 200 people,” Cheng said.
Matsui said that with Malaysia’s growth in the technology field, it was about time that R&D arena should be expanded here.
“We are confident that Malaysia can offer more R&D talents,” said Matsui, adding that, specifically, there is demand for engineers specializing in electrical, electronics, mechanical, software, computer science and information technology.
“There are also some openings for professionals in finance, sales & marketing and human resource,” Matsui said.
He also added that Malaysia has other advantages in terms of human resource, apart from the required talents.
“We have been here for more than 40 years, and we have been feeling very comfortable with Malaysia and the people,” Matsui said. “People from any country have their own culture and identity. Malaysia is multi-cultural and because of this the people here have good adaptability to different cultures. We strongly appreciate this feature.
He also noted that Malaysians have good command of English, an international language for trade and business. “It’s a good advantage; if we go to other nations in this region, you may not see that,” he added.
Matsui noted that the doors are always open for talents looking to be part of the company’s rich culture and legacy. “We give opportunities to ambitious people to create and market innovative products & solutions that enrich lives all around the world,” he added.
The company celebrated 90th year in business last year, and prides itself over the legacy left behind by its founder, Tan Sri Konosuke Matsushita, which emphasized on strong employer and employee relationship.
“When he was asked what he was producing in the company, he answered, ‘no doubt we are producing electrical and electronic product, but before that, we develop the people.’,” recalled Matsui. “In short he always maintained that in Panasonic, we develop the people before the product.”
Cheng noted that new recruits are always given training and education on the company’s basic corporate values – most of which are constituted in its Basic Business Principle, drafted by its founder.
“Sometimes competency can be learned and experience can be acquired through time, but I think it’s important for employee share same value and goal, and everyone move towards same direction,” said Cheng, noting that BBP is the “common language” the company uses throughout the world.
On the ongoing economic turmoil, Matsui noted that the company has always been ready for any form of uncertainties.
“In very good time, we should never relax. In bad times, we should work harder,” Matsui said, “This is the kind of DNA we inherited from our founder. He mentioned that both good times and bad times are equally acceptable; the bad time is for us to get ready for the next booming time.”
Known as one fo the largest electronic product manufacturers in the world, the company has around 305,828 staff force as of last year, and more than 17,000 employees in Malaysia alone.
In an exclusive interview with JobsDB Malaysia, Panasonic Management Malaysia Sdn Bhd’s director, Mikio Matsui noted that the company is expanding its Research & Development (R&D) centre in Malaysia and is seeking talents to be part of it.
“Regardless of the function in the company, we always need new human resources, and now we wish to highlight the importance of R&D function more in Malaysia,” he said.
He pointed out that this was in contrast with in early days (Panasonic set up its business in Malaysia back in 1965), the jobs available for Malaysians has always been labour intensive.
“Now, Malaysia is no longer a country for cheaper labour, compared to other countries in this region,” Matsui said, “Panasonic understand this point, and at the same time Malaysia has been very successfully developing young talents in R&D.”
The company’s assistant general Manager, Wytinne Cheng, noted that in Malaysia alone there are 400 engineers working in the R&D centres throughout Malaysia. Panasonic has 20 companies in Malaysia consisting of manufacturing plants, R&D centres, sales & services companies and management offices with diversified business segments.
“Not many know this, but we have a software lab in Cyberjaya, which started with 20 staff, and now we are planning to expand it to 200 people,” Cheng said.
Matsui said that with Malaysia’s growth in the technology field, it was about time that R&D arena should be expanded here.
“We are confident that Malaysia can offer more R&D talents,” said Matsui, adding that, specifically, there is demand for engineers specializing in electrical, electronics, mechanical, software, computer science and information technology.
“There are also some openings for professionals in finance, sales & marketing and human resource,” Matsui said.
He also added that Malaysia has other advantages in terms of human resource, apart from the required talents.
“We have been here for more than 40 years, and we have been feeling very comfortable with Malaysia and the people,” Matsui said. “People from any country have their own culture and identity. Malaysia is multi-cultural and because of this the people here have good adaptability to different cultures. We strongly appreciate this feature.
He also noted that Malaysians have good command of English, an international language for trade and business. “It’s a good advantage; if we go to other nations in this region, you may not see that,” he added.
Matsui noted that the doors are always open for talents looking to be part of the company’s rich culture and legacy. “We give opportunities to ambitious people to create and market innovative products & solutions that enrich lives all around the world,” he added.
The company celebrated 90th year in business last year, and prides itself over the legacy left behind by its founder, Tan Sri Konosuke Matsushita, which emphasized on strong employer and employee relationship.
“When he was asked what he was producing in the company, he answered, ‘no doubt we are producing electrical and electronic product, but before that, we develop the people.’,” recalled Matsui. “In short he always maintained that in Panasonic, we develop the people before the product.”
Cheng noted that new recruits are always given training and education on the company’s basic corporate values – most of which are constituted in its Basic Business Principle, drafted by its founder.
“Sometimes competency can be learned and experience can be acquired through time, but I think it’s important for employee share same value and goal, and everyone move towards same direction,” said Cheng, noting that BBP is the “common language” the company uses throughout the world.
On the ongoing economic turmoil, Matsui noted that the company has always been ready for any form of uncertainties.
“In very good time, we should never relax. In bad times, we should work harder,” Matsui said, “This is the kind of DNA we inherited from our founder. He mentioned that both good times and bad times are equally acceptable; the bad time is for us to get ready for the next booming time.”
Known as one fo the largest electronic product manufacturers in the world, the company has around 305,828 staff force as of last year, and more than 17,000 employees in Malaysia alone.
Selasa, 21 Juli 2009
RM3.5b Investment in Several Sectors
More goodies from the government. Well, from foreign investors actually. Prime Minister Datuk Seri Najib Razak announced that a sovereign wealth fund owned by the
In the media reports, he said the proposed investment would be carried out in partnership with a new Malaysian sovereign wealth fund to be known as "1Malaysia Development Berhad" (1MDB).
He said this on night after talks with Abu Dhabi Crown Prince General Sheikh Mohammed bin Zayed Al-Nahyan during a brief stopover here, en route to
According to the report, Sheikh Mohammed is chairman of the Mubadala Development Company which, since its establishment in 2002, represents the main investment vehicle for the government of
Lesser Number of Unemployed Graduates?
Expect lesser numbers of graduates this year. So says the Higher Education Ministry.
It’s minister Datuk Seri Mohamed Khaled Nordin was quote in the media as saying that a study conducted by the ministry showed that 30 per cent of the total 170,000 graduates from three years ago were unemployed.
He said the number fell to 26.5 per cent in 2007 and 24.1 per cent last year.
Khaled said a good economic climate played a big role in reducing unemployment but he was hopeful the number would drop further this year.
Having said that, he also expressed his disappointment with graduates are not attending entrepreneurship programmes organised by the ministry.
"Of the 170,000 graduates produced yearly from 2004, only 10,000 will attend entrepreneurship programmes each year," he was quoted in the report.
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