Have you ever heard of the “Great Resignation?” Americans are abruptly quitting their jobs in mass droves and numbers not seen in over 20 years. In August 2021, over 4.3 million Americans quit their jobs. And this was not a one-month phenomenon – Americans have begun quitting their jobs in droves since 2021 began. Why? Many Americans are quitting to pursue personal entrepreneurial ambitions and escape low wages. And the Great Resignation has created historical surpluses in open job vacancies. So, if you are negotiating for a job, or to upgrade your position, what else can you negotiate aside from salary?
However, before we get into all of that, we need to discuss the art of negotiation strategy. And the golden rule of negotiation is to never take anything for granted.
You have to learn how to read the room, understand your worth to your employer, and how to leverage that worth to get what you want.
What Else Can you Negotiate Aside From Salary? – The Art of Negotiation
The current American job market is basically a sellers’ market.
Employers are scrambling to fill jobs left vacant by the coronavirus-wrecked economy, supply chain infrastructure crises, and the current Great Resignation phenomenon.
In July 2021, there were over 11.1 million job openings available in the United States. And while most of the job vacancies are in the retail, food, and hospitality sectors
Now there are over 10 million vacant job openings available. There are more vacant jobs open in the United States now than in recent memory.
American employers are now offering free daycare to employees with children, free college tuition, increased minimum wages, and many other perks to source new employees.
So, why do you need to know all of this information?
Whether you are looking for new work or trying to advance your current professional position, you must understand the state of the industry, the needs of your employer, your value as an employee, and how to leverage such.
For example, if you want to negotiate for a higher salary, don’t just threaten to quit unless you get what you want. Your boss may call your bluff. Dispassionately argue your value to the company, your accomplishments, the current salary standards for your position, and any ambitious plans you may have for the future.
And keep in mind that luck favors the bold, prepared, and patient. You may not hear the outcome of a negotiation meeting with your boss for days or weeks.
But what if you wanted to negotiate something other than a salary increase with your employer? What else can you negotiate aside from salary?
Moving and Relocation Expenses Reimbursement
Have you been asked to move to a new office in a different state? Well, you can’t be expected to pay for your own moving expenses in such a situation.
What else can you negotiate aside from salary? If your boss asks you to relocate your life for the benefit of the company, then you can negotiate for a higher salary and reimbursement for moving and relocation expenses.
Make sure that you understand your employer’s moving and relocation policies before you begin negotiating.
Your employer should be willing to cover every expense related to transportation, moving, and relocation to another city or state for the job.
Work Breaks and Lunch Hour
Most jobs allow you to take at least a 30-minute break for lunch. Other jobs may allow 45 minutes to an hour.
You may be able to negotiate a longer lunch hour or breaks if you eat lunch at the office.
So, what else can you negotiate aside from salary? You may be able to negotiate the right to telecommute instead of working in a traditional office.
However, as the world is opening up after the coronavirus-induced economic trauma of 2020, not as many people are telecommuting as previously projected.
At the desperate heights of the pandemic, over 35% of Americans were telecommuting. (Although other experts will argue the percentage was higher.)
Currently, less than 14% of Americans are telecommuting. And over 44% of American employers don’t allow telecommuting.
Now, this does not mean that you can’t negotiate a telecommuting position out of your employer. But you will have to prove your case.
Strategize how to negotiate your case. Does your work involve the handling of data-heavy metrics? Argue that you are more likely to get more work done at home without wasting time on a commute.
Ask your employer to try a temporary trial telecommuting period to prove your cases.
What can you negotiate aside from salary? Extra perks if you are asked to perform work outside your job description or which requires you to pay for anything out of pocket.
Are you expected to call in or be near your cell phone at all times? Then you should be able to negotiate to get your employer to provide you with a work phone.
What Else Can Be Negotiated Aside From Salary?
Don’t take anything for granted and don’t always expect your employer to say yes.
Remember that life is all about negotiation.
Keep verifiable records of your activity and achievements with the company. If you are looking for new work, do the same relative to your work history and achievements with previous employers.
And if you have no work experience or relatively scant work experience, then you now know that multiple industries are desperately scrambling to fill millions of currently vacant positions.
Just don’t overplay your hand when negotiating or overexaggerate your skills or work experience.
Take your time and prove your case.
Allen Francis was an academic advisor, librarian, and college adjunct for many years with no money, no financial literacy, and no responsibility when he had money. To him, the phrase “personal finance,” contains the power that anyone has to grow their own wealth. Allen is an advocate of best personal financial practices including focusing on your needs instead of your wants, asking for help when you need it, saving and investing in your own small business.