If you’ve been working at your position for a few years, or a few decades, you’ve probably thought about asking for a raise from your employer. Have you done it? With all the changes that have been weathered over the past few years, you more than likely deserve a raise now more than ever, so it’s important that you give yourself the opportunity to ask. Just make sure you’ve done thorough research and thought through all your options first!
The Great Resignation
Along with early retirement, another trend you are hearing a lot about is the “Great Resignation”. Workers of all ages have more options than they’ve had in a long time to change things up professionally. Maybe you didn’t realize how tired you were from being a road warrior until you got grounded during COVID. Now you don’t want to go back to travelling. It used to be important to you to live near work to have a short commute. Now your company has gone remote most of the time. On the other hand, your company is going back to in person work and you aren’t willing to do that. These are just a few examples of trends gaining traction in workplaces across the country. It’s likely that at least one of them is presenting you with new choices at work.
I Have Earned a Raise from my Employer
A lot of expectations for equity in pay have arisen loudly during COVID. Issues of fairness in many areas of life arose and now may be an appropriate time to make sure you are getting what you have earned. The pay for men and women who perform similar work and have similar experience is supposed to be the same. Is it where you work? The pay for the people regardless of all other kinds of protected factors such as race, sexual orientation (in Illinois at least) is supposed to be the same. If you were hired a while ago, you may have fallen behind.
Do Your Homework
How are your performance appraisals? The better your performance, the likelier you are to deserve a raise from your employer.
Does your company have a compensation system? Where do you fall within it given your pay and job grade?
Check out available jobs online by searching companies like yours or general jobs sites.
What Harm Can Come From This?
None, really, because at the very least you will learn a few things. You might learn there are lots of jobs just like yours that pay more or are attractive in other ways. You might learn that looking for a new job is a lot of work and you are happy where you are. And what if you do your research, present your ask for higher pay and get it? Amazing. If you don’t ask, you will likely get nothing.
What if I Ask for a Raise and They Say No?
Everything turns out as it is meant to. And you will decide what you will do if they say no. Is the reason given acceptable to you? I could be. Were you blindsided about a performance issue you were not aware of? If you think it’s valid, then it’s good to know so you can improve. Do you think the company is making lame excuses? You’ve done research on other companies to make your case. Maybe you have the foundation to start that job search.
Need help getting started? Schedule a free sample session, and we’ll discuss the possibilities available to you. What harm can come from that?
Barb Mason, Coach
I am a coach and jewelry designer. At UNSTUCK Coaching, I help middle-agers make changes toward the most fulfilling employment experience. As my own first coaching client, I know what it takes to get UNSTUCK.
Unlock access to a FREE coaching session and downloadable journaling guide when you sign up for the UNSTUCK newsletter.
The newest trend in workplaces across the country is early retirement. Fresh perspectives on how and when to retire are in the air, and many of you are likely considering retiring early. Make sure you consider, also, what it will really mean for you.
So, Retiring Early Is a Trend?
Yes. Retiring early is a wonderful gift many workers are giving themselves as a result of many factors.
COVID provided an opportunity for workers to imagine their life’s possibilities and life looks way better in retirement.
Workers really did start saving for retirement at their first job and they have more money now than they thought they would.
Some workers started saving young and never got married or had children. Now they really have more money than they thought they would.
Many workers are done with what they are doing. It’s just too…much.
“Take this job and shove it.”
What do I mean when I refer to this trend as early retirement?
The traditional time to retire is set at somewhere between 65-67 depending on the year of your birth. You are eligible for medicare at 65. YAY!!!!! You can start taking social security as early as 62. So when I refer to early retirement, I mean you are leaving what you are currently doing before social security at 62 and before medicare at 65.
Why is the trend toward early retirement happening?
Here is what I’m seeing out there. Many of you have very big jobs or successful businesses from which you are making an exit. You have been tethered to your devices more often than not and have a love/hate relationship with how often your life gets interrupted by something pressing at work. You have been working very hard for well over 35 years in your professional life and it is no longer fulfilling.
What could go wrong when I retire early?
Without a plan for transition in place, you could die of boredom and get depressed because you feel useless. I exaggerate about the dying of boredom but I’m serious about getting depressed. Big changes like retirement take time to get to get used to. Waking up that first Monday morning is a giddy feeling. Even the first week can feel like vacation. That next week starts to get weird.
Beyond not knowing what to do with all my time, what else can go wrong?
I’ll assume you have a sound financial plan and a trusted financial advisor who is helping you plan your money. Just be sure you have thought through and researched health insurance. COBRA lasts for 18 months. Does that carry you through until you are medicare eligible? If it doesn’t, what’s your plan for that?
There is so much to celebrate about making a change as dramatic as retiring, whether you are going to start your dream job in your second act career or you’re planning to pursue your passions in another fresh way. You can ensure it goes perfectly as long as you have a plan.
Not sure you have it quite figured out? If you’re bored of the financial details and want to begin the fun part — You are RETIRING!!!!! You get to bring a super fresh approach to imagining your life’s possibilities! — contact me to schedule a free sample coaching session.
Barb Mason, Coach
I am a coach and jewelry designer. At UNSTUCK Coaching, I help middle-agers make changes toward the most fulfilling employment experience. As my own first coaching client, I know what it takes to get UNSTUCK.
Unlock access to a FREE coaching session and downloadable journaling guide when you sign up for the UNSTUCK newsletter.
Most of us have a few office items we keep around that have come to mean more than the function they serve in our routines. Sometimes, when we make a major switch in our lifestyle, these items don’t come along with us. In a lot of cases, it’s good riddance. In other cases, the items come back to us at just the right time. For me, the item that has found a renewed place in my life is my Franklin Planner.
When I left my corporate job, I left a lot of friends behind.
I left the corporate world in 2017 and I left many good friends behind. One of them was my Franklin Planner. I threw away years and years of binders, calendars, schedules, notes and memories. I kept the notebook that housed it all on a daily and monthly basis. These days I keep an electronic calendar and have realized the notes I take are everywhere. My continuing education is one one legal pad and folder. Weekly marketing calls are on another pad and in another folder. When I go to look for it, I can’t find anything. I also have my daily affirmations and gratitude. That’s in another place.
I went looking for a clean legal pad and found a friend
I was getting ready for a meeting and went to my neatly organized office supply bin. And there it was. Calling me back. My Franklin Planner notebook. It was empty of the calendar and pages, but filled with memories. An important memory that jumped into my mind: This planner gives me the ability to find all the information I need in one place. I can’t remember why I gave up this system. I immediately ordered a new one. It seemed to take forever to arrive, which gave me time to look through more memories.
Here’s what else I found:
A game of “corporate lingo bingo” from the 1990’s
A prayer card from the funeral of my beloved friend Boo Weiland who died in 2012.
The page from the calendar my dear dog Hannah appeared on Thursday, October 14, year unknown.
My SHRM membership card from 1999-maybe the hardest exam I ever took right up until I passed the National Home Inspector Certification in 2020.
I saw a psychic a few times. All those notes were in this notebook.
The goals I set back in the 1990’s written in the present. The law of attraction before I knew what that meant. I am fit. I eat nutritionally. I am a knowledgeable Jew who is an adult Bat Mitzvah. I pursue my interests. I am self affirming.
What’s next? It’s mid life, baby! Time for some fun.
I see the future in my siblings and older friends. I see moving into my 60s as the decade for planning all kinds of fun things. For my husband Herb, he plans to retire in his 60s, so that’s coming up quickly even if he waits until 69. I’ll likely stop doing art shows with my creative jewelry business in my 60s. It’s great and also a ton of physical work, so maybe I won’t feel like doing that too far into my 60s. I intended to start UNSTUCK Coaching in my 60s and got several years head start thanks to COVID. I’m grateful for that unexpected opportunity.
I’ll get started by celebrating our “On Average 60th” Birthday
I turn 59 in November. Herb will turn 61 in December. We are heading to Tucson late this year to celebrate our “On Average 60th” with a week of friends, hiking, sightseeing, and total chillaxing. I am committed to using the law of attraction to celebrate the next decade. A few more wrinkles, a bit less energy and celebrating my grey hair will NOT be how I define my 60s.
I am a coach and jewelry designer. At UNSTUCK Coaching, I help middle-agers make changes toward the most fulfilling employment experience. As my own first coaching client, I know what it takes to get UNSTUCK.
Unlock access to a FREE coaching session and downloadable journaling guide when you sign up for the UNSTUCK newsletter.
You’d never say “no” if someone told you they could increase your revenue without making complex, sweeping changes to your business plan. So it’s time to get unstuck from the routine that has kept you from taking the simple, easy step that will make all the difference.
When was the last time you examined your fees?
I am working with a client who has a full time job and a side business. The money she makes from her side business goes into her vacation fund. I asked her what she charged and she said $35.
I asked her a few additional questions, which I encourage you to ask yourself as you read:
Q.When was the last time you examined your fees?
A. I’m not really sure.
Q.When was the last time you looked at what the market was charging?
A. Never.
Q. Have you considered that you may not be charging enough?
A. People tell me that all the time.
Q. How many years have you been doing this work?
A. 30 years.
By charging less than the going rate, you tell your customers you offer an inferior service
I told her that I use a service that she offers. Only they do less than what she does and they charge $100. I told her that my sister uses a service similar to what she does and they charge $75. By charging less than the going rate, you tell your customers that you offer an inferior service. Often you fear that by raising your rates, your customer will leave you. If you are still the most affordable at what you offer, why would they leave you? You are a trusted service provider. You have years of experience in your business.
Do the math
What would happen if you raised your rate to $50? It’s still way under the market rate but it’s a 43% increase. What if you raised your rate to $75? Do the math. Take your sales from last year. Number of customers times $35 in column 1. Now take the same number of customers and multiply it by $50 in column 2. For grins do the same for $75 in column 3. Your vacation fund is growing.
Get Creative With Your Price Increase
The leap from $35 to $75 is a big one. Reward your current customers by thanking them for their loyalty and letting them know you are raising your rates. Because they have been a loyal customer, their rate will increase from $35 to $50. You already have done the math to know what that will mean to you. Charge new customers $75. Get really good at explaining the value you add with your experience, references, and all the extras you do.
If you’re feeling stuck on ideas for how to gracefully and successfully implement your price increase, research strategies online or schedule a session with me to chat about it!
I am a coach and jewelry designer. At UNSTUCK Coaching, I help middle-agers make changes toward the most fulfilling employment experience. As my own first coaching client, I know what it takes to get UNSTUCK.
Unlock access to a FREE coaching session and downloadable journaling guide when you sign up for the UNSTUCK newsletter.
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