Should I give my notice of resignation as a possible strategy to get a raise?

Question

I have been with a company for 2 years working for well less than my worth on the market. I have been promised time and again that I would reap the benefits of my efforts. I work my hardest and when the time comes for the company to do their part, I am told there is no money for a salary increase but that I will reap even greater rewards at a future time. Two months ago they hired someone off the street in what I would consider to be a lower position for more money than I make after 2 years. He lasted about 6 weeks just getting by then stopped showing up.

I am interviewing for new positions and have a couple promising prospects. I am considering just calling it quits now before I am hired elsewhere, taking the chances that I may be out of work for a while. I have a letter of resignation sitting next to me. Perhaps this will lead to a pay increase offer? They are up the creek without me. Should I hand them the letter, tell them I'm leaving and see what happens?

I appreciate the feedback thus far. To add a little more information, this is a fairly small company and I am their one and only I.T. guy. There is a specialty aspect to the company, however, so hiring even the most qualified I.T. personal off the street would require probably 6 months to a year of self-training in the specialty to even get thingsback to status quo, unless they make a rare find and that person is willing to work for their salary offer. I really am serious when I say my leaving will place them in a very bad spot.

At the same time, the owner and his family just returned from Aruba. I see the way money is spent around here and it's high time they figure out their priorities.

No raise, no cost of living increase. Not a dime of any sort. I drive my personal vehicles into the ground for this company for 30 cents a mile. Gas is going up again. I'm done.

Answer 1

Hmmm, quite a gamble.
Look at it this way, few people actually like ultimatums, and it seems like presenting your employers with a resignation letter in an effort to squeeze more money out of them is just that. If you're prepared for the possibility that they'll accept your resignation, then go for it - but it's usually better to have another job in line before you do it.
I can see your frustration regarding the other guy, though. Good luck.

Answer 2

Hi, I'm in HR. First let me say that 2 years isn't really a very long time from the company's perspective. It is a long time for you to get no raise at all however. Have you gotten small cost of living raises but no big ones that you'd prefer. If you've gotten something it's probably the best they can do. If you've gotten nothing that's reason to keep looking elsewhere until you find a place that's better off financially. To answer your question, absolutely do not resign to get more money. You wil have resigned and be out of a job. Trust me here, if they can't come up with raises they don't have money to try and "win you back" if you say you are leaving. Most employees think there's money there when there really isn't. Believe me, most employers would rather issue raises that watch people walk out the door and have high turnover and costs to rehire and re-train. You're plan will only result in you having quit before you get another job. Why do you feel you are working for less than maket value? Have you friends who work the same job elsewhere? Do you work at a non-profit? If this is what's bugging you then they can't solve it and you should keep looking for a better position. Whatever happened with that other guy has nothing to do with you. You are doing your job well, that's what you are supposed to do. It sounds to me like you need to realize that the main problem isn't that you are underappreciated but that the company you work for is having financial difficulties and doesn't seem to be fixing them. If I were you, if you haven't already, I'd sit down with my supervisor and ask if he/she thinks that at review time this year there may be a chance for salary increases. Or if you're review time is coming up wait until then and ask. If there's no chance, get out of there. But it sounds to me like you are already going to walk for more money. So just do that. Don't try and play a game, they don't have the cash to offer. Good luck.

Answer 3

Don't count your chickens before they hatch is what my grandmother used to say. You may have some promising prospects but until you have a firm offer, nothing counts.
That letter of resignation is a loaded gun and it could backfire...unless you are prepared to be without a job for a while, then I'd hold off on turning it over to the powers that be because while you see how valuable to the company you are, others may not have that same opinion and may say SEE YA.
Think about your financial situation...how long can you afford to go without a job? Do you have anyone relying on you for monetary support? What about your living situation...can you afford it without a job? Because defaulting on a mortgage or lease or rent can lead to some serious credit troubles down the road.
On the other hand, the letter of resignation could potentially lead to your boss taking a longer look to "find" more money. But if you are already unhappy and looking elsewhere, what will a small raise do now? Prolong the inevitable? String you on for another couple of years?
If I was you, I'd continue with the job search and continue working at your current job until you have a firm offer, then and only then, hit the road and look forward to greener pastures!
Good luck! I know how big a decision this is and how hard it is to make up your mind, just think about the long term effects of this before you do anything rash...

Answer 4

Do not put in your resignation. If you truly like the company you work for now, I suggest you ask for some one on one time with your boss. Once you get him alone, bring up all the things you have done for the company over your two years, as well as what you'd hope to learn/accomplish in the future. If you feel you are still getting nowhere, then by all means bring up the fact that you are looking around for a new job. Just makre sure you emphasize that the only reason you ARE looking is because you feel like you're stuck in a dead-end, and you are looking for a company where you have the ability to move up.

Answer 5

Do not offer to resign - unless you are wanting to resign. TO use it as a tool to get a raise NEVER works.

Also - it will only make you happier for a while making a bit more money. The culture which you have grwon to resent will not change with the raise and in 6 months you will be unhappy again.

I suggest remaining at work until you secure a new job.

Answer 6

Issuing an ultimatum is only a good strategy if you are prepared to follow through with it. You may want to wait a couple of weeks until you have one of those promising prospects more fully in hand (i.e., a job offer.)

However, if you're ok with being out of work for a while, then it's ok to play this card. Good luck!

Answer 7

I wouldn't do the letter. They aren't going to beg for you to not leave! If anything, have a private talk with your manager and just tell them how you are feeling. Maybe they can go ask for another raise for you. Just tell them that you feel like you are worth more and have dedicated a lot of time and energy into your position. If that doesn't work, then heck, try the letter. Good luck!

Answer 8

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Answer 9

I worked for a company that did the same. If they cared about you , You would not be in this position. lots of good employers looking for good workers