Getting the most value for your time is a learned skill and it's an essential one to master in order to negotiate the best deal for yourself. There are some key actions that will help maximize your chances of a successful negotiation during the hiring process and these start long before you even reach the negotiation stage. The below are the main areas you should focus on when looking to maximize the value you get for your time from your new employer.
Before you enter into any negotiation regarding salary, bonus and benefits, you need to know what the market is paying for a person of your abilities. It’s essential that you go into these meetings armed with this specific knowledge because without it, the negotiation could go one of two ways. One, you could be asking for too much compensation and shortlist yourself out of the job. Or, even worse, you could accept a role for under-market-value compensation, which is particularly hard to change once you’re in a position at a company.
The best advice is to use a number of resources online that will provide the necessary useful information. The first of these resources is job boards—try and find other positions in your field, with the specific job title you’re applying for, and see what they’re paying. If you want to go straight to the information source for compensation, then I advise simply going to Salary.com. You’ll find everything you need to know there about what you’re worth in the market.
It sounds simple, but it's a great way to gently, but firmly strong-arm the hirer to give you what you want, since it's natural for people to want to please someone they like or have a connection with. The hirer at your new company, who will be responsible for the negotiations, will feel compelled to negotiate harder on your behalf to satisfy your requests if they believe you are a great person and have a good feeling about you as a potential new employee. Before you arrive at any interviews or meetings, remember that building rapport will empower you later in the negotiation stage.
Best Alternative to a Negotiated Agreement (BATNA)
You must accept that there is a chance you’ll not get everything you ask for in the negotiation stage while also identifying a clear boundary of BATNA that would still satisfy you and enable you to accept the job offer. Be careful of setting too high an expectation that may make it difficult to get the job. And know that you can potentially negotiate a ratchet where if your new employer can’t give you everything now, they will in three to six months from your start date as long as you meet some clearly defined and agreed upon performance metrics.
Silence is an extremely strong negotiation tool since it allows you to listen to the current landscape in the negotiation, while also preventing you from talking yourself out of a deal. If you’re clear on what you want, have done the research, and know it’s fair, then clearly and simply say what you want and be sure to remain silent—even if there is a mild level of awkwardness to that silence. Be sure to let them break the silence first and come back to you with a response. If you have done all of the above points correctly, most likely they will agree to what you have asked for, or at the very least, the best alternative.
Your time is valuable and there are lots of companies out there, so do not sell yourself short or accept something that doesn’t sit within your BATNA. Saying “no” is also very powerful and being willing to walk away from something that isn’t right, shows a great level of control and strength. In some instances, you may find that some companies may go away and sharpen their pencils if they really want you and see that you’re actually willing to walk away from an offer.
Your ability to negotiate will certainly impact your income, bonus and benefits, so it's an extremely powerful skill that if harnessed well will empower you throughout your career. Focus on trying to master it by following the above points as a starter for now and be prepared to sometimes feel a little uncomfortable in these situations—know that there is always a level of awkwardness when it gets to these moments. Just remember that it’s normal and imperative that you stand your ground in order to get the compensation and work package you deserve.
Original Article Found Here
Original Author: Arran Stewart, Chief Visionary Officer and Co-founder of Job.com
Job.com is a digital recruitment innovator with a unique perspective: Delivering technology and capabilities that shake up the market by bringing together a data-driven approach based in AI and machine learning with high-level, human-capital-delivered solutions, designed to efficiently attract and retain the right talent and provide consumer-level user experiences throughout the hiring process.