The holiday season is now well and truly upon us, which means that it’s time for many companies to dole out end-of-the-year bonuses to their employees. For some workers, their annual bonus and/or pay raise is a big deal. Not only are bonuses and pay raises assertions of a job well done, but plenty of professionals depend on these financial boosts to make ends meet. What’s more, with the steady rise of inflation, many pros need some sort of annual pay increase to continue living their current lifestyle. Sadly though, not everyone is pleased with the bonus they receive from their company. And while this can be hugely frustrating, there’s a right way and a wrong way to handle such a disappointment. To that end, here are four productive ways to deal with the let down from a mediocre bonus/pay raise:
Consider External Factors
A bonus or a pay raise is just as much a reflection of the state of an economy and a company as it is a single employee’s contributions. It’s possible that the reason why your bonus/pay raise is less than you expected because of external factors. After all, if your company has suffered significant losses throughout the year, it’s unlikely that your boss will be able to offer you a massive bonus –– even if your performance has been excellent.
Move to Plan B
It’s okay to be worried about your finances if you’ve not managed to secure a pay raise that you were counting on. However, savvy professionals make it a point to always have a plan B in place –– just in case of disappointing returns. In the wake of a meager bonus or pay raise, move on to plan B and reallocate your finances accordingly.
Express Your Dissatisfaction
It’s not a good idea to argue with your boss on a regular basis. Still, if you feel blindsided or severely let down by a less-than stellar bonus or pay raise, then it’s important to express your dissatisfaction to them. Just give yourself some time to cool down and present your case with respect and dignity. Otherwise, you may end up saying something you really regret.
Look for New Opportunities
The sad truth is that if your bonus or pay raise proves to be a massive bust, it might mean you should start looking for new employment opportunities. The good news here is that whether you specialize in working with sophisticated lab equipment like micropipette tips, or you design websites for a living, there are more and more freelance jobs opening up every day. It can be a little frightening to test the job market, but you should never feel bad about asking for fair compensation.