This topic has come up the past couple days, and I actually had been thinking about it for a couple weeks. So why in the world would you ask your boss for a pay reduction?!
Well you might based on the experiences of those employees who have just witnessed layoffs, outsourcing, and elimination of positions. It seems that to avoid confrontation, management will not be offering you the opportunity to take a pay cut. Instead you will be brought into HR, told the bad news, and be shown to your desk, packing box, and car by security. So to avoid this why not be proactive and when you see the signs of a “reduction in force” just go to your boss and let him know you would be willing to take a pay cut?
Well the reason is that it puts you in the worst possible negotiating position if they hadn’t planned on getting rid of you. So what is the solution?
The solution is to make sure that you are the last employee with your job description to be let go, and if you are still let go, then be in a position to follow up on new opportunities immediately. How do you do this?
Make the owners of the company money. When you break down the reason you were hired in the first place, it comes down to the fact that you were hired to generate revenue, or you were hired to reduce expenses, or both. That is the bottom line with all jobs. Figure out which one you are, and be as good at it as you can possibly stand to be.
Be efficient:
Avoid the water cooler (idle chit chat can eat up your day)
Avoid email (read and return email at scheduled times during the day if at all possible)
Complete work (completing tasks/projects and documentation = profit)
Be pro-active:
Know your company’s major customers
Know your company’s major suppliers
If you have reason to talk to customers and suppliers then you should definitely network with these people, they can be part of your opportunity network should you get shown the door.
Know what your Boss’s Boss expects from you, your coworkers, and your boss. Sometimes managers tend to try and “protect” employees from information.
Communicate effectively. One of the biggest mistakes I have made in the past is to become frustrated at broken lines of communication and just give up. It wasn’t mature or professional, but hopefully I have learned to communicate more effectively.
Seek more responsibility:
Find out what other tasks need to be completed after finishing your assigned tasks/projects.
Volunteer to take on new tasks/projects.
Study the company’s profit generation strategy and determine how you can increase revenue or decrease expenses. Generate an action plan and move it up the line.
Get your boss promoted. If you are making your boss look really good to his boss, then he is likely to get promoted. Even if you don’t follow in his footsteps, you now have a friend in a higher place to look after your interests.
Educate yourself:
College Degrees
Technical Certifications
Management/Technical training
Network:
Have lunch with your boss on occasion
Network with employees of other companies in your field
Network with managers in your field
Network with customers and suppliers
Join a Toastmasters club or two
Interview regularly
If you build a network of people that you can call and ask 3 questions to, (For what kinds of positions is your employer hiring? Do you know anyone else who might be hiring? Do you have a contact name?) , then if you are unfortunately terminated you will quickly be able to take advantage of other opportunities.
If you have other suggestions. Leave a comment!
Thanks
Anthony