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Definition of Negotiation "reaching the most satisfactory outcome for ALL concerned" |
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Negotiate Your Way to a Better Salary
Salary Negotiation is a Sticky SubjectBy Peter Fisher After you have received the job offer you might feel that the package needs improving in order for you to accept the position. So what could you do to improve the situation? Wherever possible, don't try to negotiate immediately after an offer. Make sure you ask for the offer to be put in writing and then try to delay any negotiations for the longest possible time. When you've got the job offer in writing you can respond by acknowledging receipt of the offer and making it clear that you will confirm your acceptance within (say) 7 days. This could be longer if necessary but better to let them know if you are going on holiday for instance. Now you have gained yourself some time, use it constructively to investigate the average salary of people in similar positions. You could even contact other companies in your area if they are advertising similar vacancies. Use the internet - a search will quickly throw up various websites and salary calculators you can use. Break down the full package you have been offered and make sure you have clearly identified which areas of the package you would like to see improved. Refrain from making strong demands, but contact the employer and say that whilst you would really like to accept the offer, you were expecting the [basic salary or holiday paid days or car benefit or insurance] to be a little better and if it could be improved you will give your immediate acceptance and agree a start date. If you are having to relocate you could mention this in your negotiations and ask for some assistance with the costs. You should never show an employer that you need the money as this could make you look desperate and decrease your chances of successful negotiation. If the starting salary turns out not to be negotiable you could try asking for an early review "when you've proved yourself" after perhaps 3 months. Always remember that you don't have to accept anything - you can walk away, but if you do accept you may have the opportunity to improve things later. Peter Fisher is Managing Director of Career Consulting Limited and has coached thousands of people to Career Success. http://www.your-career-change.com Article Source: http://EzineArticles.com/?expert=Peter_Fisher
Negotiate Your Way to a Better Salary1. Be persuasive: It's hard to force your boss to increase your compensation, and trying to do so can potentially damage your working relationship. On the other hand, it's much easier to persuade her or him that it might benefit the organisation to pay you more, and that doing so will likely improve the way you deal with each other going forward. 2. Aim high, and be realistic: Many researchers have found a strong correlation between people's aspirations and the results they achieve in negotiation. At the same time, you want to suggest ideas to which your boss can realistically say yes. 3. Start off with the right tone: To be persuasive, you want to let your boss know that you will listen and seek to understand his or her views. At the same time, you expect your boss to do the same for you, so you can work together to address this issue. Avoid ultimatums, threats, and other coercive behaviour. 4. Clarify your interests: Your compensation should satisfy a range of needs, not just salary. Make sure you have thought about other types of compensation that would be valuable as well - like profit sharing, stock options that vest immediately, a bonus, greater work responsibilities, a quicker promotion schedule, increased vacation, or flexible hours. 5. Anticipate their interests: Just like you, your boss has needs and concerns of her or his own to satisfy. To persuade them to say yes, your ideas will have to address those interests. 6. Create several options: Joint brainstorming is the most effective way to find ideas that satisfy everyone's interests. Brainstorming works best when you separate it from commitment - first create possible solutions, then decide among them. 7. Focus on objective criteria: It is far easier to persuade someone to agree with your proposal if they see how that proposal is firmly grounded on objective criteria, such as what similar firms pay people of like experience, or what others in the firm make. 8. Think through your alternatives: In case you cannot persuade your boss to say yes, you need to have a Plan B to satisfy your interests. Part of preparation is creating a specific action plan so that you know what you'll do if you have to walk away from the table. 9. Prepare thoughtfully to achieve your goals: This is the only aspect of your negotiations you can completely control. To take advantage of all the above advice, you have to invest a significant amount of your time and energy. 10. Review to learn: The only way you can really improve your ability to negotiate is to explicitly learn from your experiences. After you finish negotiations, reflect on what you did that worked well, and what you might want to do differently. Poonam A Ashara, is a 23 year old from India with 1 year of experience in "Human Resource Development". By qualification, she is Bachelor of Commerce and Masters in Business Administration.
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