Hit the salary ceiling? Here's, what to do
You love your job and through hard work and stellar results you’ve earned yourself several promotions. While everything is going great, you’ve reached the top of your salary band. Before starting to look elsewhere or allowing yourself to feel unmotivated, there are a few things you can do:
Speak to your manager about career advancement options and what skills you need to get there. It will not only get the ball rolling, but will alert your determination and drive to your employer. Upskilling your abilities could range from attending seminars and workshops to doing a fully-fledged business management course that lasts several months.
As many companies will actually invest in their employees to retain and develop its talent, it’s worth having this conversation with your manager. But even if your company isn’t able to help out financially, it shouldn’t stop you from pursuing your goals.
Compensation in other ways
Since money isn’t everything, you should look beyond your monthly salary compensation to find motivating incentives. If you perform well and meet your targets, it might be time to discuss alternative compensation methods, such as having an expense account or additional paid days of leave.
Depending on the nature of your work, you might be interested in a more flexible work schedule or being able to work remotely. Not having to commute during rush hour can add a lot of quality to your life that could be as rewarding as another pay rise.
Take a leap
Are you afraid to take the next step? Is the reason you hit the ceiling because you’re not prepared for management territory? More often than not, this is why it’s difficult for workers with little interest or experience to move up the ladder. Be honest with yourself and assess your work situation.
Most companies encourage employees to be agile and flexible to meet the ever-changing landscape of the business and industry. This means that even if join another company, you might only maintain the status quo. Without stepping out of your comfort zone and into leadership positions, you won’t be able to progress your career. So speak up and learn something new.
Exploring more possibilities
Sometimes, despite all your great effort and work, the nature of your position does not allow for career advances. However, that doesn’t have to be the end of the line. If you’ve reached the highest rung of your ladder, perhaps it’s time to climb a different one.
Take a close, honest look at your experience and skill set. Once you know what your strengths are, you can look beyond your current role to see where in your company or industry you can continue to grow. Don’t forget to check your options to find a better job, as a career switch always in the cards.