11 Commandments For Smart Negotiating

1 – BE PREPARED.

The more information you have about your market value and the
prospective employer, the greater your likelihood of success. This
is the first commandment because it’s the most important. There’s a
wealth of information available on the Internet, at the public library
and through professional associations and networking groups. Time
spent learning how to negotiate and preparing for negotiations may be
the best investment you’ll ever make.

2 – RECOGNIZE THAT EMPLOYMENT NEGOTIATIONS ARE DIFFERENT.

When the negotiations are over, you’ll have to work with the person
with whom you’re negotiating. Moreover, your future success may depend
on that person. So, while you want to negotiate the best possible
deal, you need to do so in a way that doesn’t damage your image. At
the same time, the employer’s primary concern isn’t negotiating the
least expensive compensation package it can get away with. Rather,
their focus will be on getting you to accept the job.

3 – UNDERSTAND YOUR NEEDS AND THOSE OF THE EMPLOYER.

To be successful in this type of negotiation, you need to examine your
priorities. What do you really want? Are you comfortable with a low
salary and a large equity stake? Are you able to handle dramatic
swings in income from year to year? Understanding your needs will also
help you determine the type of company you want to work for. For
example, a family-owned company may be able to offer a competitive
salary and a large bonus based on results, but may not be willing to
offer significant equity to a non-family member. A start-up company,
on the other hand, may not be able to offer market salary, but will
typically offer stock options. By recognizing what an employer can and
can’t do, you’ll be able to determine what issues you should press.

4 – UNDERSTAND THE DYNAMICS OF THE PARTICULAR NEGOTIATIONS.

Sometimes you’ll have skills that are in great demand. And sometimes,
you may be one of several qualified candidates the company would be
happy to hire. Sizing up the situation and understanding the relative
position of each party will help you determine when to press your
advantage and when to back off.

5 – NEVER LIE, BUT USE THE TRUTH TO YOUR ADVANTAGE.

It’s not only wrong to lie, but in employment negotiations, it’s
ineffective. If you lie during negotiations, sooner or later you’re
likely to be caught. Once you are, even if you don’t lose the offer,
you’ll be at a tremendous disadvantage, and your credibility will
always be suspect. On the other hand, total candor wont be rewarded.
You’re under no obligation to blurt out everything you know. You can
determine what you want to say and how you want to say it, and try to
put everything in its most positive light. One key element of your
preparation should be to recognize areas of concern so you can
rehearse how to handle them when they inevitably come up.

6 – UNDERSTAND THE ROLE FAIRNESS PLAYS IN THE PROCESS.

The guiding principle for most employers when negotiating is fairness.
Within the constraints of their budget and organizational structure,
employers usually will agree to anything that’s fair and reasonable to
hire someone they want. Appeals to fairness are your most powerful
weapon. Thus, you should be able to justify every request you make in
terms of fairness. For example, if other computer programmers in
similar companies are being given sign-on bonuses, you should expect
to be treated no differently. Your prospective employer will want you
to accept it’s offer and feel that you’ve been treated fairly.
Understanding the importance of fairness as a negotiating principle
can make the difference between success and failure.

7 – USE UNCERTAINTY TO YOUR ADVANTAGE.

The more information you convey to a potential employer about your
bottom line, the more likely it will limit what you get. Before making
an offer, a company typically tries to determine what it will take for
you to accept the position. With that information, the prospective
employer will be able to determine the minimum package it needs to
offer. While they may not offer you as little as they can get away
with, if you’ve divulged too much information, they likely wont offer
you as much as they might have otherwise. By not disclosing exactly
what your current compensation is or exactly what it would take to get
you to leave your job, you’ll force a potential employer to make it’s
best offer.

8 – BE CREATIVE.

Consider the value of the total package. Look for different ways to
achieve your objectives. Be willing to make tradeoffs to increase the
total value of the deal. If you’re creative, you can package what you
want in ways that will be acceptable to the company. You’ll also be
able to find creative “trades” that allow you to withdraw requests
that might be problematic to the company in return for improvements in
areas where the company has more flexibility. That way, you can
maximize the value of the package you negotiate.

9 – FOCUS ON YOUR GOALS, NOT WINNING.

Too often in negotiations, the act of winning becomes more important
than achieving your goals. And it’s also important not to make your
future boss feel as if he’s lost in the negotiations. You’ll have
gained little by negotiating a good deal if you alienate your future
boss in the process.

10 – KNOW WHEN TO QUIT BARGAINING.

The one sure way to lose everything you’ve obtained is to be greedy.
There comes a point in every negotiation when you’ve achieved
everything you could have reasonably expected to gain. While most
companies will want to treat you fairly and make you happy, few
companies want a to hire a prima donna. Being perceived as greedy or
unreasonable may cause the deal to fall apart. Even if it doesn’t,
you’ll have done immeasurable harm to your career. This brings us to
the 11th and most important commandment:

11 – NEVER FORGET THAT EMPLOYMENT IS AN ONGOING RELATIONSHIP.

Job negotiations are the starting point for your career with a
company. Get too little and you’re disadvantaged throughout your
career there; push too hard and you can sour the relationship before
it begins.

Understanding these principles will allow you to effectively negotiate
the terms of your new job. Then do your job well and continually seek
out new challenges. As you take on added responsibilities and learn
new skills, there will be opportunities to negotiate further
improvements.

This article can also be read directly at: http://www.worktree.com/newsletter/salary-negotiation-tips.html

Sincerely,

Nathan Newberger

Managing Editor

http://www.WorkTree.com

“Helping You Find More Jobs Faster”

If you have ever been on a nice vacation at a really great resort, there’s a good chance that someone has invited you to come and sit through a presentation. But not just any presentation – a timeshare presentation. Most vacationers have been exposed to this kind of invitation because they are the most likely people to actually buy. So if you’re taking a vacation soon and you suspect you will be persuaded to attend a timeshare presentation, here are tips on how to survive one (or a few):

Make sure you know what you’re getting into.

Before you take a vacation, try to research about any possible timeshare presentations that you might come across with while you’re at the resort. That way, you’ll find one that offers you the best opportunity at a schedule that is the most convenient for you. And yes, try to look for signs that it might be scam so you can protect yourself.

Know your incentive for coming to the presentation.

What are you there for, really? Is it to browse available real property for future purchase or maybe you just want to sit through it so you could qualify for the gift or discount at the end of the pitch? When you attend a timeshare presentation, make sure to keep your focus on the reason you’re there in the first place, so you don’t make any decisions that could affect your future finances.

Ask if you can afford it.

Buying a timeshare means getting money out of your wallet to pay the company that offers it. And that’s not all. There’s a regular payment you have to make over the course of many years, not to mention the fees you have to shoulder to cover for maintenance and other related expenses.

If you want to survive a timeshare presentation, don’t feel pressured to sign up for anything, especially if you feel it’s not right for you or if you don’t have the budget at the moment. Remember that there’s always a next time – the right time when you’re not only a willing attendant to the timeshare presentation but also a capable buyer.

Ask if you want it.

Never jump into making a decision you might regret later on. Remember that when you buy a timeshare, you’re actually buying a long-term investment. However, it’s not the kind of investment that functions in the same way as regular real property. Timeshares don’t appreciate over time. And since most of the advantages of buying a timeshare rides on how regularly you or someone you know takes a vacation, you might not really want a timeshare because you don’t really need it.

If you want to survive a timeshare presentation, make sure to keep this in mind.

Go ahead and take the freebie.

Even if you don’t buy or promise to buy anything, don’t feel guilty. If the folks who organized the timeshare presentation gives you a gift that is appropriate for your particular circumstances, accept it and thank them. Some people feel reluctant about accepting gifts from salespeople they don’t actually buy from but it’s perfectly okay. You’re not actually taking away a huge cost from these salespeople because the freebies are part of their marketing strategy and are already factored into the costs of producing the presentation.

The people who put up these timeshare presentations rely on the law of averages (which, by the way, is quite often on their side). That means they’re likely to recoup their investments thanks to great sales pitches and the folks who actually buy timeshares from them. So next time you get offered a gift during a timeshare presentation, go ahead and take it. Don’t worry. The salespeople will survive.