How To Survive Tough Times. 4 Ways To Handle A Pay Cut
By Sera Kazungu
The current job market is a tough one. If you are not looking for a job, you are probably working hard to keep your job or perhaps earn a pay rise. All these things are considered very vital by everyone in the job market.
According to Muthoni Ndegwa, a pay cut is something that affects both the employer and the employee. It should be handled carefully as it could have major implications for the company.
“ It is something that takes employers some time to implement and it is usually because of the wage bill. They can either downsize, or reduce the salary of their employees.”she says.
Pay cuts are not an uncommon occurrence in the workplace. Although they are undesirable, they tend to happen every so often. How then do you deal with having your salary reduced?
Steps To Take After A Pay Cut
1. Do not take it personally
As is to being human, you may sometimes decide to react without thinking of the consequences. It is always wise to evaluate a situation before you know how to deal with it.
Avoid automatically assuming that the pay cut is a personal attack. In the case of underperformance, there should have been signs before hand. Whether it was a warning letter, email or a summoning. Keep a cool head and make a list of the possible reasons.
2. Ask your employer the reason behind it
It is always important for you to get to the bottom of anything that happens. Do not just accept the pay cut and remain quiet. It will show that you are either a push over or that you were expecting it because you think you deserve it.
Have a conversation with your employer and ask for an explanation to your salary reduction. This will help you know how to approach and deal with the issue.
If the reasons for the pay cut are fixable, negotiate with your employer on getting your salary reinstated as a result of certain conditions. For example, if your salary reduction is due to underperformance, you can negotiate with your employer by giving him a timeline for reaching set targets.
However, if the cut is simply as a result of the company facing tough economic times, the idea of negotiating may not do much for you.
4. Forge a way forward
Work on eliminating all the possible reasons that may make you receive a salary deduction in the first place. Go above and beyond your set targets and make yourself invaluable.
This will help you in the future to ensure that the same does not occur. At the same time, work on planning your life around the new salary you are earning to avoid feeling strained.
As with everything in life, take everything in stride and with a dash of positivity. This is the only way to ensure that you grow in your career.