As adjusters, we often experience periods of significant stress in which we are inundated and overburdened with claim files. While the solution of receiving fewer claims may not be realistic, another thought we frequently ponder is about our compensation.
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Unfortunately, claim handling can be a thankless profession. A job well done with a settled claim might receive a quick pat on the back — followed by another new claim assignment. And the practice continues.
When you handle a large inventory of files exceptionally well and believe you are a top performer, you often want to be paid as one, too. But sometimes it is not always clear just where to start.
A starting point for adjusters
A survey in the United Kingdom recently reported that 55% of employees have never asked for a raise, and the number one reason is they did not know how to initiate the process. So let’s start at the beginning. Considering the fact that someone may have never asked for a raise before, where does one begin?
An adjuster should request a meeting with their supervisor and make sure to list all the extra duties they have taken on in addition to their role. Bring examples of going above and beyond assigned duties. Be specific as far as the date and time. This is where you get to “sell yourself” and show actual results.
A subtle, but firm approach is the way to go. Set up the meeting as something akin to a “Career Discussion.” Also, don’t hesitate to let them know what you plan to accomplish in the future, and show that you are driven and motivated. The important part is to advocate for your continued path to growth at the company instead of uttering a phrase such as, “I want more money.”
How to ask for a meeting
Initiate the process with an email request. Don’t mention numbers upfront but be sure to ask for the career discussion as the focus. This provides protection against an immediate “no” at the onset. In your message, request a meeting to review your role at the company along with the results that have contributed to a strong year. Cite your desire to grow, your advanced skillset, and how you would like to review some of the responsibilities you have had over the last year (or since arriving at the company).
An email that requests such a meeting should list your availability (dates/times). If you have access to your supervisor’s calendar, offer time slots that you know they also have open.
How much are you worth?
A thought that every adjuster considers is how much they are worth. Don’t forget to prepare research ahead of time on what a legitimate number (or percentage) will be. Think about how much you realistically desire. Then, just like a claim file investigation, back up that number with the facts! Discuss in detail the “why” behind the request and your contributions. Help your boss by providing solid evidence as they will likely need to argue your case to their own superiors for approval.
What is the standard?
Some standard pay raises in America equate to roughly 3% to 5%, but typically above that range, and up to 6.5% is considered exceptional. However, every industry is different. There are some insurance carriers that provide geographic/cost of living salary ranges to employees to see where they fall. Others do not share this information but might have a range in the current job openings on their website. A law in New York called the Pay Transparency Act indicates that jobs must include a range of pay when posted; some other states have similar regulations.
If met with resistance, should you pump the brakes?
Be prepared for your request to be denied. Would you consider leaving, or will you remain an employee and not look elsewhere? Adjusters must be aware of their “Best Alternative to a Negotiated Agreement” (BATNA).
With that in mind, perhaps a salary increase is not in the cards, but there may be other options to pivot toward such as requesting an on-the-spot bonus, which is a one-time deal to reward a deserving employee. Every company is different, but the main message is that to someone who is deserving (and this needs to be backed up with accomplishments), a company will find a way to reward them fairly. Understand why the timing might be off as well for your boss. We all might think they are “kicking the can down the road,” but perhaps you can ask to revisit this discussion at a better time for them and set up a future appointment.
With that being said, the carrier also has to consider its BATNA in the event the adjuster decides to leave. There are extensive costs to replacing a hard-working employee. They must post the ad and search for possible candidates. They must interview a number of them, and that may potentially take hours of time from various managers who could be working on other tasks (time is money). Then, if they pull the trigger on a hire, it is often at the exact cost or more than the current employee they are replacing. They must also train and onboard the new adjuster before they can hit the ground running (which may take months). There are costs as well for the company to consider, and the request for a modest raise may make more sense in the end.
Last resort options
If your request is denied, then a last resort option may be the long game. Ask for an annual review or a follow-up discussion down the line. This can also be a great way to build leverage and buy yourself (and your company) some time to adjust budgets and make room for another role or opening. This plan also shows a desire for feedback and growth, with a commitment to the company.
Add to your skillset, volunteer for new assignments, and step up as a leader on the team. Don’t get discouraged. Your ambition to advance is now known. Take the next few months to continue building yourself up. Position yourself in the best place possible for your next discussion!
Chris Casaleggio, AIC, AINS is a former liability claims adjuster and the author of “Adjusting” to Property & Casualty Claims: Negotiation 101 (available on Amazon). He is a Regional Vice President for The Vertex Companies, LLC., and can be reached at ccasaleggio@vertexeng.com.
These opinions are the author’s own.
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