Negotiating 101
By Jim Carman
MOAA Career and Talent Management Team
Leader
It's not possible to cover every aspect
of this complex interpersonal maneuver, but the following best practices
are mined from a number of expert resources and our experiences guiding
hundreds of our MOAA members through the process.
-
You do not always want to negotiate. Very
few hiring managers will enter negotiations without a second choice candidate
waiting in the wings. Accordingly, the decision to negotiate a very reasonable
offer that recognizes your skills, experience, education and energy may
lead to the offer being rescinded and the hiring manager moving to the
back-up candidate.
-
Strive to delay any discussion of pay and
benefits until later in the interview process when your leverage is greater.
Although, there are a number of human relations professionals who will
not let you progress in the hiring process until you disclose your salary
history and expectations. If asked to disclose early, attempt to deflect
by emphasizing you would prefer to defer salary discussions until you have
a more complete understanding of the expectations for the successful candidate.
If forced to disclose early, respond with honesty and humility and express
a willingness to carefully consider any reasonable offer.
-
When pushed for a number, be prepared to justify
why you are positioning yourself at the top end of what you believe to
be the range for this position.
-
Your internal contacts in your target companies
will be your best source of salary ranges. Other sources include Salary.com,
Glassdoor.com and PayScale.com. However, recognize that many online sites
rely on self-reported and anonymous data.
-
Always insist on an offer letter -- sometimes
referred to as an at will letter -- which should specify base pay, bonus
potential, long-term incentives (if applicable) and employer retirement
contribution. It's best practice to never accept an offer letter on the
spot. If you choose to negotiate, identify two to three aspects of the
compensation package, reporting relationship or work routine as the focus
of the negotiation.
-
The following factors will work in your favor
during every negotiation: a willingness to build rapport, intense listening,
compassion and empathy for the other party's position and a willingness
to compromise.
If you are not able to close the gap, propose
a six month performance review as a fallback position to a higher starting
salary -- presuming six months is adequate time to demonstrate impact in
your new role.
Throughout this process, concentrate on
building a relationship. And, as we know from our military service, relationships
have a lot to do with trust; trust has a lot to do with your ability to
negotiate; and your ability to negotiate has a lot to do with getting things
done. |