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Ten Commandments for Negotiation

Employment negotiation is similar to a Constitution's preamble. Giving these uniquely specific aspects due consideration spells success or failure for your job's future. Here are the Ten Commandments of Employment Negotiations. And an Eleventh Commandment for extra luck.

1. Be Prepared
It's critical to be prepared when negotiating the terms of your employment. Being informed increases your chances of success in clinching the best possible deal.

2. Recognize That Employment Negotiations Are Unique
Employment negotiations are vastly different from one-shot deals like buying property or vehicles. Negotiate the best possible deal, without tarnishing your image, because, your career success is dependent on the person with whom you've just finished negotiating.

By the same token, once your future boss has decided that you're the person for the job, his/her focus goes beyond negotiating the least expensive compensation package the company can get away with. They want you to accept the job.

3. Understanding the Needs of Both Parties
Begin by examining your own priorities. What makes you happy? Does a low salary and large equity stake sound comfortable to you? Are you confident of meeting the requisite criteria for earning a bonus? Can you handle dramatic swings in income from year to year? Can you take risks to climb? Is job security important to you?

Discerning what you want and what a company can do within its own organizational and budgetary constraints enables you to determine possible trade-offs for a maximisation of your lot. This knowledge enables you to walk away from a job when a company can't offer the kind of compensation package that suits your needs.

4. Understand the Dynamics of Particular Negotiations
It's an enviable position if you possess skills or experience that are in great demand, or, you're the only qualified candidate to make it through the interview process, and the company would like to hire someone quickly.

On the other hand, you may be just one of several candidates the company is considering and would be happy to hire any one of them. Strengthen your bargaining position by deferring the discussion of compensation until the company has determined your suitability. Need of the hour is to size up the situation and determine when to press your advantage and when to back off.

5. Use the Truth to Your Advantage, but Never Lie
It's important to be honest. Lying during negotiations exposes your vulnerability. Sooner or later, you either lose the job, or your credibility is undermined.

However, total candor is rarely rewarded. Answer a specific question directly only if it helps your position. Determine what you want to say and how you want to say it. One component of preparation is to understand problematic areas, so you can rehearse how to handle them when they come up.

6. Understand the Role that Fairness plays in the Process
Fairness is the most powerful weapon available in employment agreement. Employers usually agree to anything that's fair and reasonable for hiring someone they want, as long as it's within the constraints of their budget and organization structure. Justify every request in terms of fairness like, cost of living and comparable salaries in similar companies. Sometimes such an appeal carries the power to convince an employer of the need to revise the scale for a position.

7. Use Uncertainty to Your Advantage
Don't disclose the exact specifics of your current compensation package. If an employer is uncertain about the stakes involved in recruiting you, then the initial offer is likely to be close to its best offer.

8. Be Creative
It may not be possible for you to get everything you want, but make sure about getting everything you can. Limit your 'requirements', and package what you want in creative ways that are acceptable to the company. Make trade-offs willingly to increase the value of the total package.

Ultimately, if you're incapable of getting the company to agree to terms that matter to you, or if it involves giving up too much to get what you need, perhaps this is the wrong job for you. However, don't spoil your chance of getting the job by insisting on a particular term.

9. Focus on Your Goals, Not on Winning
Don't let the taste of victory distract you from your objectives. It won't benefit your career if you end up making your future boss feel like a loser.

10. Know When to Quit Bargaining
Every negotiation reaches a point, when you realize you've achieved everything that you could have reasonably expected to achieve. This is where you should thank the person you're dealing with and accept the offer.

Getting too little can disadvantage your career forever. While pushing too hard sours the relationship before it even begins. But few would hire a prima donna. Therefore, try to balance initial negotiations, because, that sets the tone for your employment relationship.

11. Remember that "Employment Is an Ongoing Relationship" last, but not the least, don't forget that employment is a continuously evolving relationship. The value of this commandment can't be overemphasized.

Following and implementing these negotiating Commandments will effectively equip you to settle the terms of your new employment. Goal accomplished, you can start your new job with the confidence of producing the best possible result. Doing your job well, will give you plenty more opportunities to negotiate further improvements.

Amrita Ghosh
[email protected]

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