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.
A D V E R T I S E M E N T
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 among them.
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 company make.
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!
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