Why my Boss doesn’t increase my pay?
Why my family, don’t understand my dreams?
Why am I always asked to adjust?
Why my every relationship ends so soon?
Why my every investment turns out to be a failure?
So, what you have ever done instead of crying over these situations. Have you ever tried to acknowledge the fact, that why is everything happening with YOU?
Negotiation is all about settling differences. It could be considered as a process to avoid any sought of argument and to reach to a positive conclusion seeking mutual benefits at both the ends.
Though negotiation is misunderstood as an ability to make our way out of any problem, but in reality, it is all about maintaining a good relationship with the person you care the most. Have you ever tried to negotiate in your office, have you ever witnessed a teenager negotiating with his friend over the snack they going to have this evening, did you ever notice why some relationship turn out to be a huge success? The real reason for all these theories is that they have understood the real power of negotiation.
If you have to survive in the long run, then you have to fight against all these small battles by negotiating out more often in this deal-based world.
Why is Negotiation important? | Negotiation Skills Training
Now, most of you come up with a query, why is negotiation important? Let me relocate your query with a scenario:
Do you prefer, hanging out with self-obsessed folks, who are captivated only about themselves? Well, I don’t. So, negotiation helps us de-magnify the arrogance we procure and re-magnify a feeling to relish up the great bonds we can build in.
Good negotiations skills help us improve our communication ability and helps us to set up mutual trust between two parties. If you are a good negotiator, nothing can overpower a conflict between you and another party because you make such an overwhelming deal that brings in a quite good royalty at each end.
Building up negotiation skills can verify you like a good deal maker, a good leader, a good manager. Most of us like to stay obsolete whole day. We never transit out with our negotiation skills. Do we?
But a good negotiator uses his negotiation skills training either if he is in formal transactions or informal routine interactions most of the times.
5 Types of Negotiation | Negotiation Skills Training
Done with testing, verifying and training. Now let’s empower in the advanced concepts of negotiation.
For example: When we understanding the types, we get cleared with quality which we have to cultivate in to bring in required changes. Here are various types of negotiation:
1. Distributive Negotiation
It could be considered voluntary effort that is put off by both the parties. They are more considerate about the gaining more profit compared to other party. They never have a prime focus to sign in an agreement based on interest and needs.
2. Integrative Negotiations
Integrative negotiation takes in lot of time because they value the satisfaction of both the parties.
For example: Party ‘A’ raises the price of a product to $1000 and Party ‘B’ tempts to decrease it to $800. And on a mutual note they decide to keep a price of $900 incorporating a wining of $100 for both of them.
3. Management Negotiations
Management negotiations could be quite contradictory as you are focusing in to raise an issue against management terms. For example: You are working in a company for last 3 years and you didn’t get a raise as expected. So, you can put your point ahead and negotiate the HR Team regarding your problem. In such a situation, it is good to follow a hierarchy when you are raising an issue. The primal step is to contact your manager.
4. Co-worker Negotiation
When you are working in any company, you need to develop good terms with your teammates because there would be several projects where you need to help each other. It is advised to dampen any sought of conflict in a workspace and develop a positive attitude by providing in the environment to every skilled person.
5. Vendor Negotiation
When you are dealing with the people who are working for you or working with you then this skillset is important for you. You need to develop a spirit that can’t hinder your product value either your performance rating. Woah! We are done with types too. And, I guess you have learned something too.
Top 8 Tips to Develop Negotiation Skills | Negotiation Skills Training
Now, done with testing and verifying the importance of negotiation skills training:
1. Prepare in advance
When you are getting yourself involved in any sought of negotiations you need to be prepared with each and everything beforehand.
For example: Having a practice session with your colleague, will help you out. Ask your colleague to cross-question you, for the statement that are being put up by you. The factor that should be taken into consideration is “No Loss!” for both the parties.
2. Analyse negotiation agreement
It is a good practice to analytically analyse the whole negotiation agreement. A good negotiator transit in with the alternative to the already prepared negotiation agreement so to stand out in case of any unexpected thing happens.
3. Negotiate the process
You reach out to your boss, demanding a hike in your salary. He stops you, stating that company is currently recovering from losses and he can’t help you with anything as of now. But he concludes that he can render you some paid leaves as of now, and after a time he can raise your pay scale. That is what we mean by negotiating in a process that can bring in satisfaction and lead to positive conclusion for both parties.
4. Follow hierarchy
So, what do I mean with hierarchy? Whenever you get yourself, indulge in any sort of communication it is good practice to develop a spirit of talk because that brings in more engagement between you and another person. If you are dropping a mail to another person, it is a good practice to add in your contact number. It develops a sense of trust.
5. Be a good listener
If you are aiming to crack a business deal with a particular person. It is never a good practice to resit in between when he/she is placing his/her point. You should be that substantial listener that you get clarified with the mood or emotion behind your partner statement. To acknowledge your understanding of the thoughts put up by your partner, it is advised to paraphrase the statements put by him/her.
6. Smart trade off can trade in what you want
Negotiation is all about delivering a neutralized solution that brings in profit for both the parties. So, what can be a smart trade off in this scenario? Being a good negotiator all you need is to draft an issue that your counterpart cares a lot about but you value less. Then, make a negotiation with your opposition over an issue that value deeply to you but not to your opposition.
7. Multiple equivalent simultaneous offers (MESO’s) are good if empowered
Intense the negotiation with placing up multiple offers to your partner. This brings in your interest towards any deal with your opposition. Even if your opposition rejects an offer try to know the offer your opposition liked the most and upgrade it accordingly.
8. The final shutdown
Draft in a contract that is suited for both the parties. Bring in a change, resolute with paperwork and start the process as decided. If you ever feel a change is required to you can make any changes in a policy; based on the mutual decision.
How to Negotiate Salary as a Fresher? | Negotiation Skills Training
You have graduated from a reputed college, and now you are getting yourself out into the corporate world. But your job is not done yet!
There is still a much work to be done, to get a job of your choice. So, negotiating your salary for your first job is not that simple.
- First, you have to develop a particular skill set
- Second, if you don’t have work experience which means you need to have a quality skill set to keep up your word
- Third, you must never undersell your skills
5 tips to negotiate your salary as a fresher | Negotiation Skills Training
Here are some tips to negotiate your salary as a fresher:
1. Prepare your plan
Getting your first job is like, taking the first step towards your career. You should incorporate in some knowledge about the company you are going to work in. Customize yourself in a way, that can bring in some positive consequence to you. Until the D-Day, get yourself updated with the knowledge about the company. Read previous years interview experiences, and every required thing you need to know about the company.
2. Develop fabulous communications skills
If you let your hiring manager, getting sparked with the skills that you incorporate in. That can only happen if you have good communication skills. You are ready to keep your answer in a way that satisfy the HR then that can create positive setback in your interview.
3. Negotiate right
Whenever your HR ask you about your preferred salary range, it is good to go with the salary that is being kept as a socialistic over platforms like, PayScale, Glassdoor, etc. Demanding a great hike in your salary, can turn down the mood of the interviewer. This can even develop negative environment and interviewer can consider you someone who is running only after the money.
4. Know your worth
Never de-value yourself in front of an interviewer. Live up to your expectations it is being advised, to firstly acknowledge a domain you are good in and then never resonate with anything that you don’t feel like you are good to go with. Keep up your terms and never adjust with them, till the time you are right.
5. Know when to give in
The first job could have a major impact in your learning curve. Being modest, with whatever happening around with you in your first job is our advice. Inducing your first job, from a learning perspective can be a great thing to do. The interviewer is all about to select you for a company, but he doesn’t want you to be a liability for a company at any cost. So, he is there to take you in at the lowest possible price.
How to Negotiate Salary as a Working Professional? | Negotiation Skills Training
Working for your dream company was always in your wish list and today you received an offer from the same company. Cool, excited? If I get a chance to work for my favorite, my excitement would be next level. You receive a job offer, but the salary is quite low compared to your expectations.
Oh! Is that painful? Yes, it is.
Now, you question your boss regarding any flexibility if they can bring in your package. But they leverage a complete No with too many reasons. Now, you are working in a company for 3 years. And, you decide to compensate with your company for increasing your pay scale. These 9 golden rules will make the procedure simpler for you.
NOTE: Checkout the actual value of the job profile you are currently in on the following websites:
If you think, you are being underpaid!
9 tips to negotiate your salary as a working professional | Negotiation Skills Training
Here are some tips to negotiate your salary as a working professional:
1. Calculate your Market value
Be leveraged upon the skill set that you own. You must be very clear to the value that you can offer to an employer while negotiating. Indeed, there are several factors, that can influence your negotiation:
- Skills you own
- Geographic location
- Experience you have in particular domain
- Educational Background
- The most important of all is, Your current market value
These factors will support your negotiation, helping you to relocate your real price in front of your employer.
2. Money is not everything
While keeping in your point for a raise, you need not to consider in a way, that it looks like to your boss that: money is everything for you. You should be quite narrative towards the skillset you are best at. It is good if you make your boss acknowledge that you deserve hike in a salary because of the quality work you are aiming to put in.
3. Tell them why the current pay is not enough for you!
To bring in much more validity to your statement, support it with a story letting your boss understand why you deserve a hike in your salary. The story could be focused on the financial losses you are going through in real; you can make your boss crawl with anything that is happening in your life.
4. Be cleared with your future plans
If you stand in with certain good possibility for your future workspace, make it very clear with the company you are currently working in. It is never a bad practice to you are open to offers possessed by other companies, but not to devalue the sentiments of the company you are willing to work only with them.
5. Plan and practice your conversation to boost your confidence
When you are pitching up, for a hike in your salary. It is advised to be confident enough, while you are keeping your points up in front of an employee. You can practice in front of your friend or a colleague and ask him/her to give an appropriate feedback to you.
6. Understand the Constraints of the company
Don’t act out like a stupid, you should even understand the constraints of your company. It is plausible that your company don’t want to lose you, but their policies can’t drive in demands as of now. Come to a conclusion, that is not a loss for anyone.
7. Consider the whole deal: Be Flexible
Be a true deal maker. Probably, to many people, Negotiating a job offer and Negotiating a salary is a similar thing. It is advised to have a look over entire deal: responsibilities, travel, flexibility in work hours, opportunities, location, promotion, perks, medical support and everything before raising anything against your company. Get things cleared at your end.
8. Deploy smartness when it comes to hiring
It may be plausible that you may get in a particular job offer too soon and that may bring you in a situation where you need to reply soon to a company and then you can’t apply anywhere. So, to avoid such circumstance you should ask company to reschedule second or third round of interview or apply for the companies who are hiring near to one another.
9. Top the Table
While doing your research, it is advised to ask your employer something towards the top, instead of asking for something in the middle of the range. Because, your employer will negotiate down for sure, so you need a jiggle room to still end up with a salary you are pleased with.
NOTE: Based on research, it is advised set a meeting for negotiation on Thursday.
Business Negotiation Skills | Negotiation Skills Training
As we all know, the economy is driven by the citizen of the country and we are either running our own business or working for a particular business. This part is all about:
- Words to put in value to your statement
- How to hire a worker for your company?
- How to setup a deal with another company?
- How to develop a business that can bring in lot of royalty back to you?
Negotiation skills training applies to everyone. Cool, Isn’t it? Let’s start with a first one.
1. Words to put in value to your negotiation
What if we tell you some magical spells that can bring in a negotiation in a job offer that you are expecting from your company. So, to see a sudden bump in your pay check. Let’s get started:
- I am excited with an opportunity to work together
- Based on my research, I found…
- I understand the market value of the job I am in
- I value the possession my company have towards me
- Is that the final flexibility I can get?
- I would be more comfortable if I am offered with this
- If you can keep up on my terms, I am with the company
- Do you mind, if I consider couple of days to revert back to an offer?
- Thank you for everything you considered
These are some raw statements that can help you to keep up your credibility in a particular company. It is advised to first develop yourself as a personality that everyone look forward to work with before making such raw statements.
NOTE: If you are a fresher, then these statements are not for you.
Now, let us strive in towards the negotiation traits that should be possessed by every entrepreneur.
Salary negotiation over the phone sample script | Negotiation skills training
Thank you for selecting me for a position of Product Manager in your company XYZ. I can’t express my gratitude towards my hiring manager for providing me such an awesome opportunity. I am quite good with vision of the company, but before accepting the offer, I want to address the proposed salary.
During the interview process, I mentioned about my experience in the particular job profile. I have been in this particular domain for last 12 years and have an experience of mentoring more than 200 product owners till date. My previous company had a policy of 15% hike in the salary in every 2 years. Briefing about my experience and expertise, I am expecting a salary in the range of $1,50,000 – $1,55,000. Moreover, I am open to any sought of discussion regarding stock options and other bonus that company provides in.
Salary negotiation email sample script | Negotiation skills training
Thank you for providing me with such an awesome opportunity. It feels so honored and privileged to work with your company as a Product Manager.
Before addressing the proposed offer, I wanted to have a discussion regarding proposed compensation. While have an interview round with your hiring manager, I told him that I have been a particular domain for last 12 years had have mentored more than 200 students. I helped my previous company to increase their product revenue by more than 40%.
In reference to my experience, I am expecting for a salary in a range of [your salary range here]. If I get a chance to be a part of the company, I can assure you I can bring in great hike in the present revenue of the company.
For any queries, you can even contact me at: [your phone no. here]. Looking forwards to hear from you!
Your name here
2. For Hiring an Employee
If an entrepreneur is out for hiring an employee for his/her company should possess following traits:
Quality of planning things
If you are a great planner, you can progress when with your preparation. It is advised to stay in touch with a HR team who are quite good in understanding the traits of an employee. You can plan in a task for new batch of aspirant, try to contact with the folks who are mutual to you and them, test their skills and then release your verdict.
Never devalue any offer
You must be schematic about the opening offers you are putting up for your employees. We advise to keep you in a situation of an employee and understand each and every prospect. If you are cool with that, come in lead the brand and tell the folk about your expectation from them, their role in the company, and justify the rewards you are entailing to them.
If you are an entrepreneur of any company, you should be balanced emotionally. Being emotionally balanced will help you strive in perfect opportunity for you helping you to not giving much away and getting what you want. Lack of emotional control can descend down the possibilities of the deal you are up to. It is advised not to be rigid and try to settle down at a common ground.
Never let the facts empower your emotions
3. Planning a deal with another company
To survive in such a competitive workspace, you need to plan out deals with other companies so that you can bring in some profit back home. These are few traits that can make your work easier:
Value the other company
You need to understand the value of the company you are going to deal with. That is a primal thing that should be in your mind. You should pay respect to what the company has achieved till date. It is a good practice to do proper study of the company you are going to deal in with, this help the other party figure out your interest in them.
Play the game
Without coming in, direct in-hand interception with the other company, you should play the whole scenario with your colleague or your trusted ones. This will help you discover the objective that can benefit you before the real meet. This can help you to be more cleared with the vision and aim of the meet.
Listen with full-fledged spirit
Develop a legit spirit between you and other party while you are communicating with them. The only way to develop such a communication spirit is by clearly acknowledging the facts stated by the other party. Then to tribe in a clarity of thought at each end you can paraphrase whatever you understood so far from her.
Respect the company’s culture
When you are dealing with any company, you have to respect their culture. Develop a positive environment that can envision in happiness, credibility, and trust in the person sitting next to you. It is good to lighten up things with some jokes, but avoid cracking something that can hurt the sentiments of the other person. It is good if you know how to have a Talk over a food, how to invite the officials, how to respect their delegates, and many other traits that you can possess to show your gesture towards the company”.
4. How to create a business that can bring in lot of royalty back to you?
It is quite easy to rank your business in an arena which has less or zero competition. But if you make your business stand out in a competitive world, then that is a great accomplishment.
Deploy strategic thinking
Strategic thinking can help you deploy your company among fortune 500 in less amount of time. You need to develop self-awareness in you. You need to understand the strength and weakness of your company as well the other party’s. In case your company is an infant; strategize out for the things right now. Your strategy may include:
- How big can your company grow in next 5 years?
- What can make your company stand out?
- What can your competition offer in?
- What are the factors that can help you rank up?
With such a detailed overview, you will never lose any game you plan to play.
Never beg for anything
If you stand in a position, where you can’t get great deal with a company. Never get off from your basic ideologies that you settled up for your company. It is good to walk out if the negotiation doesn’t turn out to be satisfying for you. You will surely grab a perfect opportunity.
Boost your chances with multiple offers
If your company is an infant, boost your chances to stand out with various proximities like developing in multiple offers for the company you are going to deal with. Cool, Isn’t it? You are already prepared for the alternative that the other party is expecting from you. This boost your chance to take away the offer in such a competitive era.
So, now as you learnt some tips from our negotiation skills training tell us:
- Which negotiation skill is apt for you?
- If you are planning to be an entrepreneur which strategies you are going to deploy first?
- If you will be looking for a job, will strategy will help you in pay raise?
Do share your thoughts with us below. We will love to read them.
Abhishek Sharma is the director and founder of Drill it Down, a platform that helps people to drill down their queries to clarity.
He also have 4+ years of experience in research and content development. He enjoy meeting new people and hearing new perspectives.