Value-loaded Options if there’s no Raise in Sight

The boss has said that there will be no raises or salary increases in the near future. Perhaps the company isn’t meeting its profit expectations and the budgets are stagnant. That may not be the news you want to hear when you think about your paycheck.

However, keep in mind that there are lots of ways to load more value for yourself into an employment agreement. Since most employers rank employees’ job satisfaction as a priority for the success of an organisation, your boss will be open to some creative suggestions that will keep you feeling happy.

Replace Asking The Boss For Money With These Options:

Options For A Salary Raise: Free Time as added Value

Spending too much time working can have a negative impact on other significant aspects of your life. Built-up stress stemming from exhausting hours of non-stop work impairs your cognitive, physical, social and emotional health. Consequently, the quality of your output will decrease, and in general, you’ll be less satisfied with your job.

This is a valid reason to ask the boss for an increase in paid annual leave days. This means that you can go on more holidays! Increased time off from work will help you relax and enjoy more leisure with your loved ones.

It doesn’t matter if you decide to go on luxurious, rejuvenating or adventurous journeys, or enjoy simple family trips. You might just choose to hang out in your own city with friends and family while relaxing in the comfort of your own sweet home.

Moreover, merely the thought of having more days off from work can be motivating! You might like to extend the number of your parental leave days to fulfil your responsibilities towards your offspring.

As a mother, you will likely want to be available for your children’s milestone events and sick days. Nothing can be more painful for a mother than missing those occasions when her children need her the most. If you are not yet a mother but are looking forward to becoming one, you can ask for an extended maternity leave option, allowing you to spend a longer time at home with your newborn before returning to your normal work schedule.

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Another thing you can do is ask your boss for a more flexible work schedule. This is an acceptable request since it’s become quite difficult for most 21st-century employees to balance work responsibilities, family obligations and their own personal hobbies.

If you are not a “morning person”, you might be able to work later in the day or at night when you’re most efficient. Basically, the idea behind a more flexible work schedule is that you work the same number of hours every day at a time that’s convenient for you. As a result, you’ll be less stressed and in a position to produce more creative, high-quality work.

Unless your work involves one-on-one interaction with your office colleagues, you could probably work remotely. If so, you might ask your boss to allow you to work outside the usual workplace a couple of days per week. This could enable you to work from home – or even while you’re at the beach!

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Options For A Salary Raise: Career-expanding Opportunities

It can be quite beneficial for an employee to be given more opportunities to work on building a career in the near future. You can ask your boss for a better job title. A position title has an enormous amount of value, possibly more than you might imagine. A job title describes the amount of responsibility and level of authority you have in an organisation.

The higher the rank of your title in the organisational hierarchy, the more valuable your resume. This increases your eligibility and in addition to that future chances of employment at some of the top companies in your area. Remember to tell the boss that, as a dedicated employee, you would want to contribute to the company’s success as effectively and efficiently as possible.

Perhaps you can ask your boss to schedule you to attend meetings that allow you to interact with some of the top-level authorities of the business. This will help you learn under their guidance. If your creative ideas happen to impress them, you’re certain to receive strong support, endorsements and perhaps even a promotion.

Another option you might present to your boss rather than a raise might be an assignment to an attractive project. It’s natural that you want to be part of a fascinating project that would also allow you to easily display your skills. Such a project assignment can result in increased motivation, enhancement of your skills and experiences, a more intense interaction with the organisational body and higher-quality work output.

All of this will help you get promotions and raises in the future. Moreover, you can ask your boss to allow you or the organisation to set up educational training seminars or workshops to develop all employees’ business skills. If you are lucky enough to be able to take this on, you’ll get to meet renowned professionals – which can certainly help lead to quick career advancement.

Finally, you’ll never be turned down for asking your boss to give your regular feedback on your work performance. Regular feedback will help you fine-tune your performance and your boss can monitor and identify your positive contributions quickly. This will also increase your chances of promotion and for raises as you move forward.

Options For A Salary Raise: More personal compensation

Personal conveniences can make life much easier and more fun for you! This is why it’s an idea to ask your boss for direct monetary compensation like a signing bonus or a regulated bonus settlement. If you’ve got a signing bonus at the time you join a company, it can be a sort of adjustment towards the expected salary that you’re not quite getting.

A regulated bonus can be a rate of bonus that you negotiate with your boss rather than a random amount. If you are joining a startup business, agreements about equity and severance can help you secure a certain amount of money if the business should fail in the future.

You can also ask for indirect non-monetary compensation such as free gym membership, club membership, better office space and other conveniences which would make work and life even more enjoyable.

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Founder @ The New Savvy
Anna Haotanto is the Advisor (former CEO) of The New Savvy. She is currently the COO of ABZD Capital and the CMO of Gourmet Food Holdings, an investment firm focusing on opportunities in the global F&B industry. She is part of the founding committee of the Singapore FinTech Association and heads the Women In FinTech and Partnership Committee. Anna is the President of the Singapore Management University Women Alumni. Anna invests and sits on the board of a few startups. Anna is also part of the Singapore Chinese Chamber of Commerce & Industry Career Women’s Group executive committee. Anna’s story is featured on Millionaire Minds on Channel NewsAsia. She hosts TV shows and events, namely for Channel NewsAsia’s “The Millennial Investor” and “Challenge Tomorrow”, a FinTech documentary. Anna was awarded “Her Times Youth Award” at the Rising50 Women Empowerment Gala, organised by the Indonesian Embassy of Singapore. The award was presented by His Excellency Ngurah Swajaya. She was also awarded Founder of the Year for ASEAN Rice Bowl Startup Awards. She was also awarded the Women Empowerment Award by the Asian Business & Social Forum. Anna has been awarded LinkedIn Power Profiles for founders (2018, 2017), Tatler Gen T, The Peak’s Trailblazers under 40 and a nominee for the Women of The Future award by Aviva


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