Negotiating Your Value
Each new job offer or the performance review is the
opportunity to negotiate the base salary, the bonuses, the benefits, stock
options and the various other incentives which will add to the job satisfaction
and ultimately, provide a more financial security. You will need to take control
over your job search before the new job offer and the plan ahead of the time for
the annual performance review to reach the ultimate goal of the financial
security and the happiness. So are you all prepared to negotiate?
First step in negotiating is making a decision to reach the
goal. Once have you made the decision, there is need for you to plan your
approach, gather all the supporting information, consider the alternatives and
the viewpoints, do communicate specifically, and understand the strengths and
weaknesses. You should be able to respond effectively to a negotiating party,
and knowing all your competition will enable you to bargain for your position
more efficiently and accurately.
Tips to Focus on During the Research and Negotiation:
It is very hard to force your boss to increase the compensation, and by
trying to do so could potentially damage the working relationship you
currently have. Think about a process as for trying to convince him which it
might benefit an organization to pay more to you.
Do aim high and be realistic
Many researchers have found the strong correlation between the people's
aspirations and results which they do achieve in the negotiation. At same
time, you do want to suggest the ideas for which your boss realistically
could say yes.
Start with a right tone which you want
To let your boss to know that you will listen and will try to understand the
views. At same time, you do expect boss to do same for you so you could work
together to address this issue. Avoid the ultimatums, threats and the other
Clarify the interests
Your compensation must satisfy the range of needs, not just the salary. Make
sure you do have thought about the other points of value for you as well --
like the profit sharing, stock options which vest immediately, the bonus,
the greater work responsibilities, the quicker promotion schedule, the
increased vacation or the flexible hours.
Anticipate the boss's interests
Just like you, your boss do have needs and concerns. To make him to say yes,
your ideas should have to address the things which are important for him.
Create several of the options
The joint brainstorming is a most effective way to find the ideas which
satisfy everybody's interests. It do works best when you do separate it from
the commitment -- first create the possible solutions, and later decide
Focus on the objective criteria
It is very easy to make someone to do agree with your proposal if he looks
how that proposal is firmly been grounded on the objective criteria, such as
what similar firms pay people of like experience or what others in the
Think through the alternatives
In case if you cannot persuade boss to say yes, you have to backup the plan.
Part of the preparation is creating the specific action plan so that you
know what will you do if you do have to walk away from a table.
Do prepare thoughtfully to achieve your goals
This is a only aspect for your negotiations which you can completely control
on. To take the advantages of all the above advice, you should have to
invest significant amount of time and energy.
Review to learn
Only way by which you can really improve the ability to negotiate is
explicitly to learn from the experiences. After finishing the negotiations,
you reflect on what you did which worked well and what you may want to do
differently. Ultimately you will be successful in achieving the goal of the
financial security and the happiness!
Negotiation Strategies to
Maximize Your Salary