How to Handle Not Getting a Raise
OK first off…even though the economy is improving, many businesses are still wary, and a lot of people aren’t getting raises, so it’s not just you. In healthcare, specifically, practices have concerns about changes in reimbursement, the cost of ICD-10, and coming penalties from CMS in 2015. The one thing you should absolutely NOT do is get in a snit and go storming out of your boss’s office. That will do nothing for your next evaluation, your next shot at a raise, or your standing at the practice.
You do, however, have the right to know why your raise was turned down, and there might be a number of different reasons:
- Company finances. With things being what they are in healthcare, there’s a real good chance that this is going to be the case. And if they tell you that, there’s a real good chance that they are being honest with you, especially if nobody else in the practice is seeing a raise. If that’s the case, there’s not much that you can do but accept it, get over it, and move on. As the economy continues to improve so will your chances of you raise down the road.
- Poor timing. Some healthcare businesses are more seasonal that others. It may not be the right time. Or, it may be that a recent large investment in the practice makes it difficult to invest in raises today. If that’s the case, once again, there’s not much you can do about it. Of course, that doesn’t do you much good if your own expenses are going up, your spouse lost a job or your kids need braces. Discuss the possibility of overtime or incentive pay. Some practices are offering incentives to staff who increase appointments through recall programs or increase patient collections. Unfortunately, if the practice is feeling the pinch (as in the above scenario) they may also be cutting back on bonuses, overtime, and incentives to scale back on payroll expenses. So…if you’re going to have to wait until the next quarter, next year, or next evaluation (and overtime isn’t an option) your best move is going to be to keep the nose to the grindstone and do the absolute best job you can manage so that when the time comes, you’ll get that raise after all!
- Poor performance. If your raise was declined due to performance issues, this is when you need to be proactive, stand on your own two feet and find out the specifics. Chances are you’re going to find this out when it’s evaluation time anyway, but regardless, ask your manager what areas need to be improved. Find out where your weak points are, and do your dead level best to improve on them. Or, your alternative might be to start looking for another job elsewhere, with better pay and better opportunities. But a word to the wise here: if you’re moving in that direction, keep it to yourself. Nothing can sabotage your future quicker than making it known that you’re thinking about moving on.
It can be hard when you don't get a raise you expected, but the reasons may be valid.
It may also be an opportunity for you to bring new ideas and challenge yourself. Suggesting incentives for employees based on certain performance measures like increasing appointments is one way. Another way is to take advantage of educational opportunities to grow in your field. There are many free programs out there than can help you excel at your work.