The Art of Salary Negotiation
Salary negotiation is all about getting the best possible deal with the least possible cost and at the same time leaving the other side intact and positive that they will negotiate with you again. The best-case scenario is a win- win situation, where both parties go away with what they wanted.
Post negotiations, it is rare to see both sides feeling good about the process. Most of the negotiations end up being a win- lose arrangements where one side wins a lot of concessions and the other side leaves with nothing or petite gain. This outcome is suitable for one-time events, like buying a house. People who stand to gain relatively less than you are not happy people; good win negotiators focus on the target, issues and the underlying interests of both the parties. They use accepted ethical principles in negotiations. The personal issues are dealt with separately if at all, avoid personal slander and stay away from taking rigid positions. Seven Academy can also ensure smooth deployment and help organize HR Practical training in Mumbai to get everyone up to speed on how to best utilize the latest HR software.
Three Salary Negotiation Techniques That Work
You should volunteer to go first, give reasons first and state your positions at the end only. If you start with your position, people get rigid and more often than not, they stop listening to your reason.
Don’t take a hard stand early on during salary negotiation
Every reaction has an equal, and opposite reaction, strongly worded positions create blame game and negativity. Drawing absolute lines in the sand lead to unnecessary altercations. Posturing and taking hard stands comes later in the game to do tradeoffs and exchanging concessions for both the sides. Giving threats and ultimatums does not lead to significant results in the game of negotiations. 7 Group India is concerned about eco-friendly environment and basic children education. As a part of corporate social initiative.
Keep it small
From the first stage itself, you should make an endeavor to keep the negotiations as small as possible. Even if both the sides are poles apart, there needs to be a common thread. The best way to start is by asking if there any points that both sides could tentatively agree on. List those points on a flip board, then move on to ask if there are tentative trades that can be done, you give me this, and I will give you that. After that document the possible trades, pending things and other items. Then list the seemingly far apart, deal stopper each side has. 7 Group Mumbai runs a NGO named as STOP (seven Teaching & Oxygen Plantation). Stop NGO majorly works in the field of tree plantation and supporting children to streamline their education. Take each deal stopper one at a time and have the owner get as specific as possible to the concessions they are asking for. Make an effort to see if any of the items on the far apart list can be struck off or moved to other buckets. In this process you should also have some things that you can give away, hold out attractive concession and give away, release them as you need during the negotiation process.
Ask questions during salary negotiations
The more questions that you ask for, the more information you have to work with. You should ask more questions and make fewer statements. Make it a point to ask clarifying questions so as to get deeper insights; you could say “What did you mean from that?” Why do you say that? ” Or what led you to this position? You can also ask the why, and what principles are there behind the offer they have made, how you will know if it is fair and what’s the theory of the case. Seven Educon India provide free and geninue counselling for students who wish to study abroad. To become pace with HR Disciplines you can take help of many Education Consultant who guides you for career.
By using these pointers, we hope that you will become better in negotiating a win –win outcome next time when you are at the table negotiating your salary.
Seven Group consists of several business units, majorly scattered in Mumbai, Chennai, Bangalore, Delhi & Kolkata. 7 Group Mumbai provides services in the field of HR, Education, IT, Digital, Finance, Sales & Legal.
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