Tag Archives: wages

Improve Your Value – Improve Your Salary

 

Despite the fact that money really should not be the most significant factor in career decisions, it comes with a huge influence on our lives. The amount of money we earn will influence where we live, where we holiday, the lifestyle we enjoy, and how and when we will retire.

In the event you are employed by another person, you have a restricted amount of control over your salary. You negotiate your starting out salary and then you receive raises at management’s discretion for annual reviews and promotions. Would you like additional control over your salary? Simply by understanding and boosting the value you provide to your organization, you will have the opportunity to boost the sum of money you can earn.

Listed below are five tips on how to start boosting the value you provide to the organization and in the long run, the salary that you earn.

1. Specialize in a new area. Investigate impending trends within your industry or find a weak point in your organization and become established as the expert of that area. It could possibly demand further education, training or certifications, however if you happen to be the go-to person for all associated matters, suddenly you become an indispensable asset. Find a course, hobby, class today – click here

2. Be aware of your market value. It is critical to keep up to date with shifts in the market. Familiarize yourself with tools and websites that offer current salary data, find out what the competition is paying, and fully grasp your company’s compensation policies. Equipped with this information, you will find yourself in a better position to negotiate annual and promotional salary adjustments. Compare your salary with PayScale.

3. Do something unique. The risk of having a normal routine is that you simply seldom get away from your comfort zone. Playing it safe is not going to create the “WOW” effect. Broaden your focus and start taking thought out risks to substantially improve your outcomes. Avoid being fearful to speak up in meetings with innovative and diverse ideas that will bring a fresh technique to accomplishing organizational goals.

4. Be professional all the time. Even though it may sound like a no-brainer, it can also be all too easy to get caught up in office politics. Rise above the pettiness that could possibly materialize whenever a group of coworkers hang out with each other than they do with their own families. Negative attitudes can drastically lower the output of a group. Taking part in immaterial activities could affect your annual raises and restricts your prospects for advancement.

5. Have a direct influence on the bottom line. The sole intent behind each and every company is to generate a profit. Recommend a brand new approach to service your existing client base to generate a new income stream. If you don’t work directly in a revenue producing section of business, put into action unique procedures that will save the business money. Assess the influence you have on the bottom line and your value is going to be noticeable.

Wages are a complex subject matter. Getting paid more income is simply not going to happen overnight. The majority of companies have a budget for salary increases which is split among eligible employees. Place yourself in management’s shoes for a minute. Is the value you provide to the company worth more or less than your colleagues? When you finally strip away the emotional part out of the salary equation, you are able to objectively develop a strategy to start getting compensated precisely what you are genuinely worth.

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Growing signs of recovery with new jobs and higher wages

The total number of people employed in the formal non-agricultural sector increased by 47 000 (0.6 percent) between the December 2010 and March 2011 quarters based on recent data from Statistics South Africa.

The number of people employed in this sector increased by about 47 000 persons from December 2010 to an approximated 8 298 000 employees in March 2011, said Stats SA in its March 2011 Quarterly Employment Statistics (QES) survey.

Gross earnings paid to employees in the formal non-agricultural sector dropped between the quarters ended December 2010 and March 2011.

“This displays a quarterly decrease of R19 800 million (-5.9 percent) when compared with the quarter ended December 2010.”

The QES revealed that an estimated 8 298 000 individuals were employed in the formal non-agricultural sector, exhibiting an annual boost of approximately 212 000 employees in comparison to an estimated 8 086 000 employees in March 2010.

 

Gross earnings paid to employees within the formal non-agricultural sector improved between the quarters ended March 2010 and March 2011. The gross earnings paid to employees during the quarter ended March 2011 amounted to R318 099 million showing an annual increase of R26 896 million.

Average monthly earnings, including bonuses and overtime payments, paid out to employees in the formal non-agricultural sector decreased between November 2010 and February 2011.

The March 2011 Quarterly Employment Statistics (QES) survey shows a quarterly decrease of 0.2 percent in average monthly earnings paid to employees in the formal non-agricultural sector between November 2010 (an estimated R12 274) and February 2011 (an estimated R12 244).

At the same time, average monthly earnings, including bonuses and overtime payments, paid to employees in the formal non-agricultural sector increased between February 2010 and February 2011.

The QES survey reflected an annual increase of 9.3 percent in average monthly earnings paid to employees in the formal non-agricultural sector between February 2010 and February 2011.

Source: BuaNews

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How could you increase your salary?

Inspired to boost your salary? Here are some words of advice to improve your salary and additionally advance your career path and possibilities.

Be comfortable negotiating salary increases.
Don’t be bashful or embarrassed to ask to get compensated that which you feel you are worth. It is essential to keep track of your achievements and keep detailed records of these achievements.

Don’t get defensive with criticism.
Constructive criticism from peers and managers can only assist to you to transform your overall performance. Always be graceful when you are acknowledging criticism from co-workers including your boss, however , you should always in turn take this feedback and then channel it straight into your work which often can lead to future possibilities and additionally job promotion.

Before choosing a training course always make sure that it will be worthwhile.
Before choosing a course to study whether it be a certificate, diploma or degree; i highly recommend you analyze the particular training course and college or university accreditation. Ensure that you do your research prior to signing up with a particular college or university. It is important to ask the appropriate questions in order to refrain from fly-by-night institutions that happen to be more interested in your hard earned money as compared with your education and learning. Remember it could possibly end up costing you more in the long-run. Investigate your companies continuing education added benefits and what they provide you with. Perhaps your employer can assist with tuition fees.

Strengthen your communication skills.
No matter what position you hold or job description, superior communication skill-sets will certainly place you in front of your colleagues in addition to boost your chance for promotions and salary increases.

Get yourself out there and be noticeable.
Don’t be reluctant to mingle, listen and express your views, thoughts and opinions amongst peers and others within your industry and workplace. Embrace new and difficult challenges at the office and make sure that your superiors and managers are aware of your intentions along with contribution.

Enhance your personal skills and know-how.
Here again, continuing education d skills development will assist you and possibly could fast track your career and lead to a promotion. Depending on the job requirements, you might need a the least a bachelors degree. Whilst in certain other fields or positions would likely require a MBA qualification. Contemplate doing a number of short courses to compliment your overall levels of skill.

Develop into an expert within your field and end up being indispensable in your job position.
Continuing education along with skills development will assist you, aside from that stay informed about current market trends and development. In order to do this you could attend industry conferences, start reading local and international publications and articles, or possibly set up meeting with experts in your current industry and sector to exchange ideas ideas, advice and information.

Research, absorb and adapt to new industry trends and methods.
In the current  times, things change rapidly and it is particularly vital that you continue to keep abreast of current and future trends because what you do today may very well be obsolete in the future. Show you enthusiasm and willingness to adapt to new ideas, trends and techniques which could in the long term will assist your employer to successfully value your input and may also lead to wage increases not to mention promotion opportunities.

So how exactly does your salary compare to your peers with the same job description and responsibilities.

Make sure you know what your skills are worth before looking for a promotion or pursuing a different career or position. Do some research on the internet and find out some benchmarking figures related to your position and years of experience.

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