I have a young - one of my solid/top performers - who over the past year has gotten married, bought a house, and most recently his wife lost her job.
In our last O3 he is claiming that he is now 'undervalued' and should get a raise. This week its on his O3 agenda again for specifics.
I told him that he is performing above expections and - assuming continued performance - is on track for advancement. I also mentioned that the way to 'get' more is to 'do' more.
I did get him to clarify that he needs more money because of choices *he* made -
According to HR we are competitive in our market (the are double checking), and I let my boss know that my direct could be 'at risk'. Even thought the economy is down, the market for good technical talent seems tight. I do not want to lose this person if I can help it.
I am a little put of by a few things (I am a high D...):
- I don't love the 'me first' approach. We try to build a culture of customer, company, team, then self.
- Nobody 'made' him accept the job at the salary offered (he has been her about 3 years). Again - individual choice. So this idea that he 'accept less' and now 'deserves more' seems immature.
- Nobody 'made' him get married, buy a house, etc. Sure - we all wish for the days when we were single and money flowed like water.
So I could give adjusting feedback on these points. I would rather focus on the 'ok - here is how you get there' - and focus on a coaching plan. But as one of the M's said 'I don't have a printing press in the back room to print money when anyone asks'.
If anyone has been in this situation I would appreciate any guideance. Assuming he stays on track for promotion to the next level, its typically an incremental salary bump and jump up the next pay grade / band (so more long term headroom). I have no problem with that.