Can You Believe It’s March Already?
With the new financial year just around the corner, it’s the perfect time to reflect, set new goals, and plan for the year ahead. For many businesses, this also means performance reviews—which inevitably leads to the big question…
“So… am I getting a pay rise?”
The annual heart-stopping moment for business owners and managers everywhere. You’ve got a fantastic employee, they’ve worked hard, they deserve recognition—but when you peek into the financials, the only thing looking back at you is a tumbleweed rolling through an empty bank account. So, what do you do?
- Be Honest, But Thoughtful
If you can’t afford raises right now, don’t dodge the conversation. Let your team know you value their hard work, but times are tough. A simple “We’d love to, but…” followed by a plan for future increases can go a long way. - Offer Non-Monetary Perks
Money talks, but so do other perks. Could you offer more flexibility, extra leave, training opportunities, or even the coveted best desk chair in the office? Get creative! People appreciate benefits that make their work-life better. - Show a Roadmap for Growth
If a pay rise isn’t possible now, set clear goals for when it might be. Outline how the business is working towards growth and when salary reviews will happen next. A light at the end of the tunnel is always better than a hard “no.” - Recognize Their Contributions in Meaningful Ways
A simple “thank you” goes a long way, but pairing it with public recognition, a small bonus (even in the form of a coffee card!), or a heartfelt note can keep morale high. People want to feel valued, even if it’s not through their paycheck (yet).
A thoughtful conversation, clear development opportunities, and well-timed gestures of appreciation can go a long way in fostering a motivated and committed team. For more helpful tips and hints email hello@networkhr.co.nz for access to salary reviews and performance review guides.
