The Subtle Art Of Negotiation
Are you hoping to receive a job offer? Are you hoping that your employer will give you a salary increase this year?
Whether it’s the fear of being perceived as pushy or feeling uncomfortable about the negotiation process, professionals are hesitant when it comes to salary negotiation.
Make it a goal in 2020 to get the role and salary you deserve. Instead of fearing negotiation, here are some rules every professional should follow when asking for what they want:
Quality As A Principle
Quality is remembered long after price has been forgotten. The benefits delivered by you to the company provide the life blood of the company in which you work. Good people are like the gems in a crown, the value of the piece is related to each stone.
The company’s job is to make good business, your job is to profile your ability and make sure it’s constantly recognised.
Targeting Your Worth
Good negotiation is where both parties are pleased with the outcome. But how do you know you are being paid the best salary for your worth? You’re a major asset, one of the most important assets your employer has. It is however, intangible.
To distinguish between intangible and tangible you should think of ‘hard’ visible values. Products manufactured by a company, raw materials etc are tangible. Service and labour etc... are intangible.
Obtaining The Maximum Salary
The answer to the question “How much do you think I’m worth?” is “Whatever is fair and competitive for the quality and work you contribute to.”
Your contributions will be greater or lesser than others in the same position, what’s fair for one may not be for another. There is no fixed price; therefore one should always target the top range.
When I can get the most for my attributes in the market, I’ve made a good deal. This is the basis of good and effective salary negotiations. Good in the negotiation should be a win, win situation for both parties.
When Should Money Be Discussed
The interviewer meets you at the reception, shakes your hand and escorts you to his office. You are invited to take a seat. He describes the vacancy. He may look at your CV and ask you a few relevant questions. You try to convince him you are the quality person he needs. The decision maker looks straight at you.
“What sort of salary are you looking for?”
How do you handle this important question?
Remember your services to the company will be intangible and therefore difficult to pinpoint a value.
When you have been officially offered a position, but not accepted it, you’re at the strongest point of negotiation. The decision maker has committed to you but you, on the other hand have not committed to him.
Resist all attempts to give them the benefit of elimination and valuing you purely on cost. Likewise you the candidate should never bring up the subject early in the proceedings.
“What are you looking for as a salary?
“What kind of Salary are you looking for?
If you don’t mind, I’d rather cover those issues after we’ve had chance to discuss the requirements for the job and my appropriate qualifications.
You could turn the question around and ask...
What do you normally pay someone with my experience and qualifications?
Interviewers may see the question of salary as an issue, if they feel you are the one they would select. Your answer therefore would be. “I presume as the subject of salary has been raised are you making me an offer of the post?
Many interviewees do well during the interview process but find negotiating the biggest hurdle to face. The reluctance to talk money is a ‘cultural’ thing. People are brain washed from an early age not to mention the stuff as if the subject were unclean.
Negotiating is the final part in the interview. A lack of preparation is the main reason for poor negotiating. Don’t sell yourself short.
Your CV will have given the interviewer a good indicator of how valuable you are in the market. When you know all there is to know about a product it’s much easier to put a value to it.
You Need Clear Answers to the Following Questions.
What, precisely am I worth in the current Job Market?
What do others in similar positions to the one I’m applying for get as compensation?
Make a study of the industry, the area of the country and company size: all these things have an impact on salary levels.
Income for Public sector positions is normally structured to pay scales and therefore identifying the rate is a much easier process. Private sector is more difficult.
Always work within your comfort zone. Don’t step out of it. It’s easy thinking big In the comfort of your own home whilst compiling your research but you may be uncomfortable with things when you actually come face to face with the real life situation.
Remember the services you are able to provide are in demand by the company. Realising this fact puts you in the decision maker’s shoes. What questions would you ask in his shoes?
It is important that you have a little time to reflect after the offer has been made. You could say:-
“Thank you for giving me the opportunity of working for you. Naturally it’s a very important step on my part. I would therefore like to discuss the position with my family and if I may, I’ll get back to you in 24 hours.”
The decision maker may well want to get the negotiating under way quickly; this will put you at a disadvantage, a weak point. 24 hours however, is fair and reasonable.
At the negotiating stage you should be in a WIN, WIN situation. The person you are negotiating with could be your future boss, therefore it should be borne in mind that you need to create a good working relationship for a long term collaboration, don’t ever appear confrontational.