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Tuesday, March 14, 2017

Quick Tips for Your Next Negotiation

As someone who’s on the hunt for a new house in what most would call a “seller’s market”, I’m not so sure I’ll be utilizing the best negotiation tactics at this moment in time, but there’s no denying a time will come when anyone can benefit from such strategies. Whether you think you’d be more productive in a better work environment, more efficient with a larger staff, or less likely to seal a deal without a few revisions, negotiation can be a discussion worth having. When the opportunity arises, the following approaches can prove effective to the conversation.

Do your research.
There’s a ton of research readily available to help you determine the most appropriate scenario for your situation. If you’re seeking a new job title, find comparable job descriptions that hold the title you’d like. That way, your employer can clearly see why you might feel your current title is lacking. As with most negotiations, be prepared to explain why something is important to you and how it will benefit the other party. Know that proposing a new job title may even insight more responsibility and decide if that’s something you’d be willing to take on.

When it comes to a pay raise or business deal, you can also find information that will assist you in determining what something is worth, yourself included. It would be in your best interest to know what comparable employers or buyers in the area are paying for similar services. This way, your proposal won’t come across as merely something you want just because you think you deserve it, but something that is logical and reasonable to suggest.

Know what you want.
In light of my recent endeavors in the home-shopping process, I’ve learned more each time I’ve viewed a new property. What I initially wanted to what I’m looking for now has adjusted slightly, and the same can happen in multiple scenarios. Keeping to the topic of the workforce, author Victoria Pynchon makes a good point in her article, “5 Things Most People Don’t Know About Negotiating.” She suggests we “…take a look at the way in which [we] ‘value’ money,” and goes on to say what we’re truly after might not be quite so obvious.

For example, if you ask for a salary bump but what you want is to feel more valued and you think a higher salary is going to evoke that feeling, you may be disappointed even if you get what you ask for. Take the time to examine your request. What brought it to mind? Is there something in particular that happened? If you get what you ask for, will the existing problem go away? If you ask yourself questions, and in this case, find that there’s actually a task in your job that feels demeaning for one reason or another a bump in pay isn’t going to solve your problem; which brings us to the last point…honesty.

Be honest.
If you’re honest with yourself, then it will be easier to be honest with the other party. Providing a big picture explanation will help someone understand things from your perspective better than if you throw out your request and wait for an answer. What most of us know about good communication is that people feed off of your energy, so if you’re more open and honest, your listener is likely to be more trusting and empathetic in their response. In turn, a productive conversation will allow both parties to end on a positive note, and might even yield better results than you originally intended.

Overall, the big takeaway is to be mindful of your approach to any negotiation, and take the time to understand the matter at hand. If something is important enough to motivate this type of discussion, then it’s worth the preparation.

Crystal Schneider, Client Relations Manager 

The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual.