Negotiating is something that many people do not like to do. Research suggests that women, in particular, avoid it whenever they can. In fact, everyone negotiates over small matters every day and these should be handled the same way as the big decisions. If you are not prepared to negotiate for what you need, no one else will do it for you.
There are some proven methods which will assist you in any negotiation:
1. The reason for a negotiation
There is little point engaging in a negotiation if you do not know why you want or need the extra money or resources. It is essential that you understand your own motivation and that there is a solid reason why you justify the additional benefits that you are asking for.
Part of any negotiation is selling oneself. If you are chasing a pay rise then you will need to have worked exceptionally hard or your contribution has been definitive in the company’s improved profits. If this is the case make sure you have specific examples of this; it is very hard to argue with facts.
3. The upper limit
It is not always a good tactic to start the negotiation with your demands. This can mean that you are selling yourself short. For instance, you may ask for a 10% rise based on the new account you have obtained for the company. The company may have been considering offering you 15% or 20% as the new account has been so good. Wherever possible avoid setting the ceiling; you can always use facts to increase your opponents offer.
4. Your worth
The bigger the company the easier it is for those in positions of responsibility to forget why certain individuals were hired. The better you do your job the truer this can be. You must remind them of why they employed you and the fact that you are very good at your job.
5. Talk to the right person
It is of little use talking to your direct supervisor if they have no control over your earnings. It is polite to notify them of your intention and get a recommendation if possible. You then need to ensure you speak to the person who has the power to agree to your requests; this may mean scheduling a meeting.
6. Everyone’s a winner
The best way of achieving what you want from a negotiation is to ensure that both parties win from the deal. Your pay rise may cost the company additional money but you will need to remind them this is the normal rate. If they needed to employ someone else in the role it would cost them the same. Remind them of the quality of your work and the loyalty and dedication you have.
There will be a counter argument to yours. It is essential you think through all the possible scenarios before the negotiation to ensure you have an answer for any alternative suggestions. This is another opportunity to remind them of your worth and what you bring to the business.
8. Pitch high
If you need to make the first offer go high. If you go ridiculously high you will ruin any deal but a reasonably high figure will work. It will provide the other party the option of saying no and negotiating to a lower rate; which is what you were aiming for anyway. This process will help them to feel they have had the best deal available.
If you have prepared and know your facts then you can go into any negotiation with confidence. Negotiation training can also help you for the purpose. This confidence will come across and leave the other party in no doubt that you know what you are talking about. Your confidence will inspire confidence from them in you and your proposal.
10. Keep quiet
Possibly the most important tip of all is to know when to keep quiet and listen to what your opponent has to say. It is also essential to remain quiet after having finished your proposal. Never feel it is essential to keep talking into a silence. Not only does this undermine your proposal but research shows that the one who starts talking first will be most likely to concede in the negotiation.