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Regardless of whether you're planning to negotiate with your current boss or you're participating in a recruitment project and setting the terms of collaboration with a potential employer, it's important to bear in mind that sometimes a company might not have the flexibility to offer a higher base salary.
In such cases, it's worth having a "backup plan" to propose something that the employer might be more inclined to agree upon, and which can, at the same time, ensure greater comfort in our professional or private life.
1. Bonus and incentive systems.
2. Flexible working hours, task-based work.
3. The possibility of working from home.
4. Health care packages ranging from basic to comprehensive for the entire family.
5. Company car and the scope of its use for private purposes.
6. Financial support for postgraduate studies, courses, training.
7. Formal nature of cooperation (employment contract for a fixed/indefinite period, contract collaboration).
How to succeed in negotiations with an employer?
After determining the elements that are most attractive to us, it's essential to prepare for the negotiations. Bonus and incentive systems are motivational mechanisms used in organizations to encourage employees to achieve specific targets or perform at a higher level. They are often applied in industries where work results are easily measurable and can be directly linked to company outcomes.
If we are to have a discussion with our current employer, it's a good idea to find out (e.g., from the HR department) the current range of available benefits or the training budget allocated per person in our department. The more specific and prepared proposal we present to the supervisor, the higher the chances of successful negotiations.
How to negotiate salary
To succeed in negotiating employment terms with a potential employer, proper preparation is crucial. A headhunter or recruiter guiding us through the recruitment process will undoubtedly support us in acquiring information about the benefits package in the new workplace. They might also play the role of a mediator between the candidate and the employer. Due to confidentiality commitments, they maintain neutrality and ensure that negotiations are substantive and fruitful. At the same time, understanding the expectations of both parties, they can propose the most satisfying solution for both sides, further reinforced by market reality knowledge.
If we've decided to negotiate a higher base salary
If we see room for discussion about a higher base salary and want to take advantage of this, it's essential to have market awareness. Besides preparing arguments backed by past results, it's worth checking the salary structures in the given industry and position. Various wage reports, including Antal's Salary Report, can help. Identify our strengths in terms of benefits they can bring to the organization. An example? If in our previous job we increased sales by 20%, show which skills allowed this and how they can be used in the new company. A company car instead of a pay raise is one form of employee compensation, whose popularity varies depending on the country, industry, and position. Many companies offer company cars as part of the compensation package, especially for senior positions or those who travel a lot for work. Here are some key aspects of this form of remuneration:
Benefits for the employee:
- Costs: The employee doesn't have to worry about the costs of purchasing, maintaining, insuring, and repairing the car.
- Comfort: Access to a new and reliable vehicle, often of a higher class than the employee could afford privately.
- Flexibility: The possibility to use the car for private purposes (depending on company policy).
Benefits for the employer:
- Motivation and loyalty: A company car can be a strong motivator and a factor in increasing employee loyalty.
- Taxes: In some countries, the costs associated with company cars can be tax-deductible.
Once we receive an offer in a satisfactory form, let's make efforts to fulfill the agreed commitments! In this way, when our needs increase in the future, we will have another valuable argument: keeping promises.
Changing jobs? Check out the full candidate guide.