Q TIPS:
Quick and Quintessential Career & Job Tips

Job-hunting tips from the October 22, 2001 issue of QuintZine.

Recruiting Trends reports that despite a softening labor market and a continuing U.S. economic slowdown, American companies are not cutting back on salary increases for their employees. A WorldatWork survey reveals that American workers can expect salary increases in the mid-4 percent range in 2001 for the fifth year in a row. However, while average salary increase figures have held steady for several years, workers won't be bringing home as much bacon as before because of inflation. When adjusting projected 2001 average salary increases to the U.S. Consumer Price Index, a worker's 4.5 percent salary increase will feel more like a 1.3 percent raise, as opposed to the nearly 3 percent adjusted-for-inflation raise the average worker received in 1998, when inflation was lower.

According to a recent study conducted by Prudential Financial and Linkage Inc., a leading organizational development company headquartered in Lexington, MA, employees are more focused than ever on maintaining a better work/life balance. The study also revealed that today's employees are more technologically and financially savvy; less loyal to their company; and more diverse. These factors combine to create a new workplace dynamic, and serve as the foundation for shaping future employee benefit strategies.

These survey results are based on a 2001 study entitled Survey of Human Resources Decision Makers: Linking Employee Evolution to the HR Revolution. The survey was completed by senior human resources professionals -- across varying industries -- primarily of large and mid-sized corporations. Source: Business Wire.

As we've noted in the articles in this issue, knowing what you're worth in the marketplace is key to effective salary negotiation. Three measures for determining what you're worth include market value, company value, and self value. Market value is the value of your skills in the open marketplace. What would most companies in your field pay for your skills? Your company value is what you're worth to the specific company with which you're negotiating. Can it find someone just like you for less? Do your particular skills provide solutions for the employer? Would your salary request create problems with other workers?

Finally, your self value is based on what this job is worth to you. How badly do you want it? How much does salary play into your enjoyment of the job? Is there anything you'd be happy to trade for a higher salary -- say, more vacation time? Establishing a full picture of what you're worth and what the job is worth to you will arm you with the negotiating power you need. Source: Knight Ridder, Tribune.