Either situation isn't particularly welcome news; however, the latter is probably less financially disastrous.
Acceptance
When your boss announces the bad news that your pay will be reduced, don't accept it immediately and refrain from making any type of agreement - either verbally or written. If you are compelled to do so, then you should ask for some time by saying that you need to think and discuss it with your family before complying. This will give you the time you need to understand the situation and find out all the facts surrounding the salary reduction before you accept it.
A salary cut can affect your lifestyle and your benefits package, as sick and vacation days are usually calculated based on your salary. A reduced salary structure can also affect your salary negotiations with future employers, as your last salary is always considered crucial when it comes to salary negotiation.
Get the Facts
Once the shock wears off, you should go on a fact-hunting spree. Ask your employer some important questions:
1.Whether the pay is cut is mandatory or voluntary
2.How much of your pay will be cut
3.Who else will be affected
4.How long will the pay cut will last
5.Will there be any retroactive reimbursement
6.How will it affect your benefits
7.Is the company planning to work overtime to turn things around
After understanding all these points then you need to ask yourself some questions:
-How desperately do you need this job
-Do you believe the company, and do you feel they can recover
-How much do you trust your superiors
-Do you want to move on
After understanding these points, you can speak with an employment attorney and then proceed to negotiate your pay cut.
Negotiation Benefits
Once you understand all your legal options and rights, then you can negotiate so that the pay cut will have less of a negative effect on you personally. You should try to negotiate your working hours and suggest a reduced schedule, such as only working four days a week. You could even suggest telecommuting to reduce your travel costs.
Attempt to negotiate your stock options, if you believe in your company and its values. If you don't have any stock options, then you can ask for some; and if you only have a few, then try to get more.
Always get a written agreement detailing all the details of the pay cut and ask when your old salary will be reinstated and if there will be any compensation for lost wages.
Going through a pay cut can be very unsettling - but by following the steps above and looking out for your own best interests, it doesn't have to be traumatic.
Taking A Pay Cut
In May my husband and I took a wonderful steamboat trip on the Colombia River, 1,240 miles long, and Snake River, 1,038 miles long, and the Willamette River with it's 200-mile-long reach from Springfield north to Portland. We took it aboard American West's delightful Empress of the North. This is the first time we had ever done a ?niche? type cruise and we thoroughly enjoyed it.
Yes, the clientele tends to be older, but, what a shame that the younger mature adults are missing out on all this fun. It is steam boating in the true sense of the word. The paddlewheel turns as you leisurely make your way up and down the rivers and through the many dams that have been erected since the time of Lewis and Clarke. The ship is patterned after the river boats that plied the waters of Alaska, Oregon and Washington over 100 years ago and has a distinctly Russian flavor.
On the particular adventure that we took it was to follow the path of the Lewis and Clarke expedition so it was historical as well as fun. We boarded the Empress of the North in Portland, Oregon with no mishaps just a bit of a long wait. However, they did supply entertainment and refreshments while they prepared the ship for us. Once aboard we were escorted to a lovely stateroom that was right out of the riverboat era. It was roomy, beautifully decorated and had a balcony with two chairs and a table. There was a TV but we never used it since the real entertainment was the trip and the excursions which were included in the price of the cruise. The rooms reminded you of the river boat era but were very much up to modern standards.
Just a little tidbit: The ?Portland Penny? is how Portland got its name narrowly missing being called Boston. The partners Lovejoy and Pettygrove who had filed the claim staking the territory needed to come up with a name for the quickly expanding territory. Lovejoy being from Boston, Massachusetts was adamant that this would be the name, while Pettygrove equally adamant wanted it to be called Portland after his beloved Portland, Maine. Hence the ?Portland Penny? when Pettygrove won two out of the three tosses.
The artwork on the Empress was truly impressive. There were beautiful Russian artifacts and amazing pictures of the gold rush and life in the Northwest during the 1800's. I spent a lot of time just going up and down the four hallways perusing the artwork. (Every floor has a different theme).
Our first night out of Portland we were invited to cocktails and hors d'oeurves at the Paddlewheel lounge which is in the back of the boat and has windows overlooking the paddle wheel. We were still busy getting situated so we grabbed a cocktail and took it back to our room to get organized. Dinner was in the Romanov Dining room and the atmosphere really was one of a riverboat. The food was very good served by a courteous and fun American crew. Dinner lasted about an hour to an hour and a half and then it was off to the Golden Nugget showroom to watch the Pat O'Neal and the River Boat Jazz band play great Dixieland Music. Well, if you weren't into it by then you never were going to be. What fun and you are sharing it with only 200 other passengers. After the show you could stay in the Showroom for dancing or go to the Paddlewheel Lounge for the duo of Kari & Jerry who were not only very good but extremely friendly.
Of course, you are in a new place everyday and everyday brings a new exciting, educational and different excursion. Our first day out we where cruising the Columbia River Gorge taking in the breathtaking vistas, granite cliffs and waterfalls from which the Cascade Mountains takes it's name.
We thoroughly enjoyed this trip and would recommend to other adults, this not a ship for children.
Both Tony Jacowski & Mary Hanna are contributors for EditorialToday. The above articles have been edited for relevancy and timeliness. All write-ups, reviews, tips and guides published by EditorialToday.com and its partners or affiliates are for informational purposes only. They should not be used for any legal or any other type of advice. We do not endorse any author, contributor, writer or article posted by our team.
Tony Jacowski has sinced written about articles on various topics from University, Six Sigma and Information Technology. Tony Jacowski is a quality analyst for The MBA Journal. Aveta Solution's Six Sigma Online offers online and certification classes for six sigma pro. Tony Jacowski's top article generates over 90500 views. to your Favourites.
Mary Hanna has sinced written about articles on various topics from amino acid, Health and Medical Condition. Visit Mary Hanna's websites at: an. Mary Hanna's top article generates over 49500 views. to your Favourites.
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