Average hourly earnings are down from February 2022 to February 2023, according to the most recent data from the Bureau of Labor Statistics. MORE ⬇️
While the cost of goods is rising, wages are not. And with recent layoffs announced at Meta, asking for a raise can be an intimidating task.According to Andres Lares, Managing Partner at Shapiro Negotiations Institute, begin by approaching management or human resources with empathy.
“You should know and potentially even bring it up,” Lares said. “[Say] ‘Look, I understand this is sensitive, given that there's been a pretty significant number of layoffs. But at the same time, I know that business has to continue. And so, because of X, Y and Z reason, here's why I believe, you know, I should be eligible for a raise.’”“Preparation is the only aspect of a negotiation over which you have control,” Lares said.
“The first and easiest way is to script the key points,” Lares said. “You want to say what are the key objections you expect to get, and how would you respond to those?” “Why are you more valuable now?” Lares said. “Maybe it's how efficient you are. So, you can take the role of two people. Maybe it's the fact that you can put processes in place or technology in place that can help make up for some of the layoffs that have occurred and allow the company to continue to work.”
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