Get a spot bonus if you can't get a raise

ant a raise? Get real. It's not that you don't deserve one -- but in these uncertain economic times, it's probably not going to happen, especially at this time of year.

According to nationally recognized compensation expert Bill Coleman, raises are most commonly handed out at the end of the year, shortly after your annual review. The second most common time is June. But unless you're working for an over-performing company like Apple or Amazon, chances are that there will be no funds available in the budget to bump up your base (at least) until the end of the year.

That's the bad news.

The good news is that you still might be able to get some extra cash or some additional paid time-off in the form of a "spot bonus." Many companies are handing these out to top performers according to both Ravin Jesuthasan, a Managing Principal at workforce consulting firm Towers Perrin and Margaret-Ann Cole, Organization Effectiveness Consultant at Watson Wyatt.

The tricky thing about a spot bonuses is that, under most circumstances, you can't just walk up to your boss, ask for one and expect that your wish will be granted. Instead, you have to be recognized by your manager for doing something meaningful.

And it's important to note that, in this case, the word "meaningful" is defined by your boss and not by you.

How do you know what his definition is? "Ask," says career strategist and best-selling author Cynthia Shapiro. (Without mentioning that you're after a spot bonus, of course.) There may be an important  project that no one else wants to do or a committee that he needs you to sit on. In the short term, this may require you to work overtime. In the long term (whether you get a spot bonus,or not) it will single you at as someone who steps up to the plate when necessary. 

There's another way to get a spot bonus too, but, before you attempt it, make sure that your company considers you to be a strategic commodity and that your skill set is in short supply and high demand. A researcher who develops drugs for a pharmaceutical firm might fit this profile, an accountant who works for the same firm would not. 

Assuming that you're in a position to do so, ask your boss to sit down for a heart to heart. Start by telling him how much you like working at the firm, sell yourself by reviewing your recent accomplishments, then finally express your frustration at not being able to progress monetarily. Ask him to help you reconcile the fact that you're doing great work, but that you're not being recognized (because economic conditions are preventing the company from making pay raises). See what he comes back with.

What are your chances? Sources we consulted indicated that 1% of the payroll budget is normally set aside for spot bonuses and that, at this time of year, there's a pretty good chance that the kitty is not yet spent. We also learned that, in most cases, managers don't require additional authorization (signatures from management, human resources and accounting) to hand them out, so that the only person you have to convince to give up the green is your boss.

Comments

[John Papers]

Thank you for sharing this information..
John..

[poker gratuit]

Il s'agit d'articles très utiles, Je pense que le plus important hors site SEO puissance et de gagner gratuitement le site de référencement de la circulation, qui est déjà sur mon site