Have you ever taken a taxi and wanted the driver to take a different route? The driver probably insisted that their route was faster. You still convinced the driver and changed their mind about the route. This simple exchange is also known as negotiation. We negotiate more often than we realize. It’s an integral part of our daily lives.
Let’s look at the meaning and importance of negotiation in the workplace. One of the most important things every professional negotiates is their salary. Whether you are starting a new job, switching fields or asking for a raise, you must know how to negotiate for a competitive salary that reflects your work and contribution. Read on to understand how to negotiate your salary.
The Art Of Negotiation
A negotiation is a strategic discussion used to reach an agreement between two or more people. As we have seen, negotiations are an inevitable and integral part of our lives.
Negotiation skills and techniques are highly valued in the workplace. Negotiating is an important communication tool that helps individuals look at the bigger picture and take everybody’s needs and interests into account. Not only does negotiation help build workplace relationships and navigate conflicts, but it also helps pursue quality solutions.
An important aspect of professional growth is learning how to negotiate one’s salary. Salary negotiations are not only about reaching a dream salary. They are about identifying your needs and your value to your employer. Knowing how to do a salary negotiation will help you drive a productive conversation. Read on to learn about the tips and tricks of effective negotiation!
How To Negotiate A Higher Salary
It’s scary to negotiate one’s salary, isn’t it? But do you know that by not negotiating, you’re limiting yourself? Moreover, salary negotiation is a cycle that will repeat itself throughout your career. So learning how to negotiate your salary early on in your professional journey will stand you in good stead. Here are some salary negotiation tips that will not only help you be confident but also gauge your true potential:
A Quick Self-Check
The first step when negotiating your salary is understanding your value. Various factors make you a valuable employee. Start by determining your position in the industry and organization. The factors that can help you when you negotiate your salary are:
Your years of experience in the industry
Your educational background
Your professional background
Your skills and expertise
Any licenses and certifications you have
Do Your Homework
You should be able to justify why you want a certain amount. For example, if the standard salary for an entry-level position is ₹30,000, you can’t expect a higher amount. Asking for a lower amount is also harmful. It prevents you from getting what you are due. So do your research and suggest a salary that is appropriate for your industry and position.
Prepare A Script
While doing your research, it can be helpful to note down talking points for your conversation during a salary negotiation. Create a script or a list of questions that you can expect from your employer. Write down the reasons why you have asked for a particular amount. When listing your arguments for a hike, try to be as specific and detailed as possible. A script helps you stay prepared for the negotiation and minimize jitters.
Act It Out
Now that you’ve written down your questions, concerns and talking points, try to rehearse them before you speak with your employer. You can either use a mirror or take someone’s help to practice your arguments. You may receive constructive feedback if you discuss your points with another individual.
Remember, you must be confident in a salary negotiation. The more confident you appear, the more your points will seem justified and the greater the chances of your employer being considerate. Don’t be nervous. Tell yourself that you have the skills and experience that justify the salary you have asked for. When you negotiate your salary, use a confident, even tone and use nonverbal cues that exhibit confidence. At the same time, remember to be appreciative and thankful for the opportunity.
Take Time To Think
There will be times when employers meet your expectations with the very first offer. However, as a rule of thumb, take some time to evaluate the offer. Avoid agreeing immediately. Instead, you can say, “Thank you for your offer. Please allow me some time to get back to you.”
Sometimes, your employer will be unable to accommodate your salary request but will be willing to provide other forms of compensation. Don’t hesitate to ask for alternatives. You can negotiate stock options, work-from-home days or longer vacations.
Remember these salary negotiation tips for your next appraisal cycle. If you’re still feeling unsure, you can use the following responses during the negotiation:
Can I negotiate this offer?
Can you tell me how you reached this number?
Besides pay, are there any other perks that are negotiable?
How do you evaluate the performance and success of employees? Are there any specific metrics in place?
Can I get the revised salary offer in writing?
Anyone can learn how to negotiate a salary by understanding various negotiation skills and techniques. Harappa Education’s Negotiating Wisely course will teach you how to articulate your position clearly and negotiate confidently. The Dual Concern Model will teach you about the different methods of negotiation. The BATNA–Best Alternative To A Negotiated Agreement–Framework will help you arrive at the best alternative to a negotiated agreement. Become a champion of persuasion and never hesitate again!
Explore topics & skills such as Negotiation Skills, What is Negotiation, Types of Negotiation, How to Persuade Someone & Top Negotiation Techniques from Harappa Diaries and learn to negotiate confidently.
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