Submitting a Salary Increase Form to Counteract Inflation

Inflation Pay Request Submitting a Salary Increase Form to Counteract Inflation

How to Submit Salary Increase Forms to Counteract Inflation

The past two years have created a shift in our work lives and economy in ways that haven't been seen for decades. Inflation continues to rise, giving the dollarless buying power, so previous wages are now worth less than they were a few years ago. If inflation has made it difficult for you to make ends meet, or you have noticed a significant decline in your buying power, you should submit a salary increase form to request a raise .

It can be difficult and overwhelming to try to draft your own salary increase forms, but DoNotPay can do the hard work for you. All you have to do is enter a few key pieces of information, and DoNotPay will write and submit a salary increase form on your behalf.

Why do organizations provide cost of living raises?

Not every company voluntarily gives its employees a cost of living, or inflation, raise, but companies that do will provide extra compensation to counteract the rising costs that come with inflation. There are three main reasons why organizations provide cost-of-living increases to employees:

  1. Government agencies are required to increase employee wages to align with rises in the local cost of living.
  2. Workers in unions may negotiate for higher wages.
  3. Private companies increase wages to prevent current employees from seeking employment elsewhere.

Most employees find themselves in the third situation, and most private companies won't give salary increases unless an employee asks and negotiates. This is where a salary increase letter comes in handy.

What needs to be included in a salary increase letter?

When requesting a salary increase, there are a few key things you should include to make the most convincing argument possible, including:

  • A purpose statement that outlines why you are submitting this letter
  • A reason for your raise request
  • Arguments supporting why you deserve a raise
  • The percent increase you are requesting
  • An invitation to negotiate

By including all of these aspects, your letter will be professional and convincing, giving you the best chance at getting the raise you seek. On the surface, writing a salary increase letter may seem straightforward, but the process is often tedious, intimidating, and anxiety-inducing.

How does COVID-19 affect our cost-of-living?

The COVID-19 pandemic had significant impacts on our economy and way of life. Perhaps the most noticeable economic change is a sharp increase in the price of many goods. The Consumer Price Index estimates prices have increased by about 6.2% overall, with energy costs skyrocketing the most with a 30% increase in the past year. Because several industries were completely disrupted by the pandemic, many areas of manufacturing are still trying to catch up, which has led to higher prices on many types of goods.

Additionally, many employees decided to quit jobs in the service industry to pursue other careers, leaving many retail facilities short-staffed and unable to keep up with demand. Both of these factors, as well as dozens of others, have resulted in heightened costs of living across the country. The steep increase in prices has led to many people being unable to afford basic goods.

Many companies and managers understand the financial hardships their workers now face with rising inflation, making it an ideal time to request a cost-of- living raise.

What persuasive arguments can I make to request a raise?

When submitting your salary increase forms, be sure to include snippets about how you have been negatively impacted by inflation, which may negatively impact your work performance. It's also helpful to highlight recent accomplishments made in the company, especially if these accomplishments increased revenue for the company.

Consider using DoNotPay to make salary requests on your behalf

As you can see, it can take time, effort, and grit to go about increasing your salary. DoNotPay uses AI to make tasks like these fast and painless. People choose DoNotPay for three key reasons:

Efficiency

Leveraging AI, DoNotPay can handle salary increase letters quite quickly. By the time you’ve blocked your calendar to work on this, DoNotPay could have already submitted the request.

Ease

The research involved before writing your salary increase requests is difficult. DoNotPay creates an easy process to get your request started.

Successful Outcomes

You can trust that DoNotPay is making the best case possible on your behalf.

How to submit an inflation pay raise request using DoNotPay:

If you want to but don't know where to start, DoNotPay has you covered in 5 easy steps:

  1. Enter the name of your company and supervisor as well as how long you have worked at the company.

  2. Select which industry your job position falls under so we can find the right year-over-year wage growth.

  3. Enter the salary increase (as a percentage) you would like to ask for. The recommended number is ~6%.

  4. List your recent goals and accomplishments to make a more convincing argument for your raise.

  5. Choose whether you would like us to email this request to your manager/supervisor on your behalf. If not, we'll generate the request as a PDF that you can deliver to them yourself.

What else can DoNotPay do?

Drafting salary increase forms is just one of the hundreds of tasks DoNotPay can carry out on your behalf by using the power of artificial intelligence. Some of the other services we offer include:

  • Fighting parking tickets in any city
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If you're ready to get the support you need to complete monotonous or intimidating tasks on your to-do list, visit DoNotPay today!

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