Art of Negotiation - IEEE Potentials

3

Click here to load reader

Transcript of Art of Negotiation - IEEE Potentials

Page 1: Art of Negotiation - IEEE Potentials

14 IEEE POTENTIALS 0278-6648/09/$25.00 © 2009 IEEE

With retailers filing for bank-ruptcy and companies across the globe laying off thousands

of employees, its easy to conclude that we are currently in a buyer’s market for talent where employment candidates may have to consider lower salary of-fers and endure longer job searches be-fore the right offer emerges. Despite the dire outlook, it’s important to remain focused on your goals and not fall into a malaise where you feel there are no jobs available, says Alan Levinson, se-nior career advisor at the ECPI College of Technology’s Raleigh, North Caro-lina, campus. It’s also essential to re-member that even in a buyer’s market, you still have the ability to negotiate salary and benefits.

Before any talk of negotiation can begin, it is important for candidates to first build value, Levinson explains. During the interview process, discuss your tangible technical skills, your com-mand of difficult industry concepts, and your understanding of the environment you are about to enter. Experience is not narrowly defined as prior work in the exact same job. For those who do define it this way, you are stuck in that old cycle of no experience, no job. No job, no experience.

“Don’t let this be you,” Levinson ad-vises. “Build your value with concise examples of when you used the skills you will employ on the job. Describe in vivid detail how your education ap-plies to the challenges on the job. Paint a picture of your contribution. If you show you are a quick study, a diligent

14 IEEE POTENTIALS

Digital Object Identifier 10.1109/MPOT.2009.932461

THE ART OF NEGOTIATION

Craig Causer

CAREER BUILDING BLOCKS

© CREATAS

© MASTERSERIES

Authorized licensed use limited to: Univ of Calif Berkeley. Downloaded on May 10, 2009 at 12:30 from IEEE Xplore. Restrictions apply.

Page 2: Art of Negotiation - IEEE Potentials

MAY/JUNE 2009 15

and tireless ‘go getter,’ and that you get along well with diverse coworkers, cli-ents, and outside parties, you should land on your feet.”

To defer or not to defer?Timing is everything. Do not

bring up the topic of salary and ben-efits first, unless you are in sales and “killer instinct” and “closing the sale” are desirable attributes of the job you seek. It’s a good idea to wait for the offer before negotiating salary and benefits. Defer the salary question un-til they love what they see and offer you the position, Levinson advises. You can defer professionally if asked about salary too early in the process with statements such as: “I’m sure we can come to an agreement on salary if we decide to move forward” or “I have done my research and I just ask to be fairly compensated for my skills in re-lation to similarly qualified candidates in this field.”

Whether they ask, “What are your salary expectations?” or offer you a po-sition and tell you the salary, there are some questions or statements that you should have in mind. If asked to name a salary, Levinson poses “the three steps to $$$ signs:”

$1: “Based on my experience/ edu- •cation, skills and research...”

$2: “I am looking for...” (provide an •annual salary range like the meteorolo-gist may predict tomorrow’s tempera-ture—low to mid 40s or upper 20s to low 30s)

$3: “I am flexible depending on the •specifics of the job and whatever ben-efits may be offered or whatever range you feel is appropriate.”

The three steps to $$$s help pro-vide a “range” of acceptable sal-ary without the risky “too high/low” number that people get trapped into when naming a specific sal-ary minimum or maximum, Levinson adds. However, if offered a posi-tion with a specifically stated salary, be appreciative and say thank you. Then ask the employer when it will need your decision, since you should discuss the offer with your family and/or to think about it and really make sure it is a good fit.

After the offer is made, hang up the phone and write down the pros and cons: What is the salary—is it reasonable, and does it meet your range expectations? Did they discuss the benefits and are they a good fit for you? Do you fully understand the job itself and the expectations for your performance/productivity? If the answer is “no” to these ques-tions, Levinson adds that you should call back the employer and say either, “Thank you so much for the offer yes-terday. I have another question before making my decision: Is the salary ne-gotiable? I don’t think we discussed if there are benefits included in the offer. Will you provide those details, if any,” or “Can we go over the full expectations of my role as a [job title] ? I want to be sure I can commit to all the requirements.”

“Be ready to take notes and if you have certain expectations or concerns this is the time to air them,” Levinson says. “You have the most leverage and negotiating ability on the way in the door. Don’t leave it behind. If the an-swer is ‘yes’ to the offer, then call back and graciously accept the offer, stating how much you are looking forward to getting started.”

The balance of benefitsIn a buyer’s market, employers can

hold a tighter grip on the purse strings. If the employer has initially offered a sal-ary well below your expectations, you can always accept the original offer if you determine that the experience and

No ask, no getAlan Levinson, senior career

advisor at the ECPI College of

Technology’s Raleigh, North

Carolina, campus, enjoys the

saying, “You don’t ask, you

don’t get.” He feels the adage is

applicable for both new gradu-

ates and seasoned careerists

when it comes to salary and

benefits negotiation.

Since how you ask is just as

critical as what you ask, Levinson

offers a list of good questions to

ask an employer once you have

been offered the job.

“That sounds great, thank •

you. When do you need my

decision?”

(You want to regain control

of the conversation and mull

over the offer before decid-

ing whether a negotiation is

needed.)

The next day: “I really ap- •

preciate the offer, but I do have

a question: Is the salary/benefits

offer negotiable?”

(This gives you a chance to

revisit the offer and push it up.)

You may be asked, “What •

do you have in mind?” You

should reply, “Based on my skills,

experience, and research, I was

expecting something along the

lines of…”

(Fill in the blank with a slightly

higher number range, provided

that it does fall within a reason-

able range of your experience

and education/qualifications

for the job offered.)

Levinson prefers talking in •

terms the weatherman would

understand. For example, if

you are looking for US$32,000–

US$35,000 per year, that would

translate to “mid 30s.” If you

are looking at US$38,000–

US$42,000, say “upper 30s to

low 40s.”

The result is less emphasis on

“yes” or “no” to a salary figure

and more emphasis on you and

your fit into the company.

BE READY TO TAKE NOTES BE READY TO TAKE NOTES AND IF YOU HAVE CERTAIN AND IF YOU HAVE CERTAIN EXPECTATIONS OR CONCERNS EXPECTATIONS OR CONCERNS THIS [AFTER THE OFFER] IS THE THIS [AFTER THE OFFER] IS THE TIME TO AIR THEM. YOU HAVE TIME TO AIR THEM. YOU HAVE THE MOST LEVERAGE AND THE MOST LEVERAGE AND NEGOTIATING ABILITY ON THE NEGOTIATING ABILITY ON THE WAY IN THE DOOR. DON’T WAY IN THE DOOR. DON’T LEAVE IT BEHIND.LEAVE IT BEHIND.

As the senior career advi-sor at ECPI College of Technology, Levinson has counseled scores of students in the art of job hunting.

Authorized licensed use limited to: Univ of Calif Berkeley. Downloaded on May 10, 2009 at 12:30 from IEEE Xplore. Restrictions apply.

Page 3: Art of Negotiation - IEEE Potentials

16 IEEE POTENTIALS

opportunity outweigh a lower salary. But do not do so before entering into benefits negotiation.

“Each job seeker has unique val-ues, so the challenge is to identify what you primarily value,” Levinson explains. “Some popular examples of benefits that many new graduates are seeking include flexible work sched-ules, extra vacation/holiday time off, credit time for volunteering, and a 90- or 180-day performance review rather than waiting a full year. Many employ-ers are providing community volunteer time each month for employees to get involved with the community. What a great way to leverage the Millennial generation’s public service inclination and receive good public relations at the same time.”

For those instances where you have hit a roadblock in attempting to increase the employer’s salary offer, do not rule out the position until you have explored what ben-efits may be available. Levinson recommends two approaches. One can enter into benefits negotiations by saying, “I understand there is no room for negotiation on salary. In-stead, I wonder if we could conduct a performance review after 90 days or six months, with a possible salary increase if I exceed your expecta-tions at that point.” Another angle is to state, “I recognize that times are tough, and you need an energetic go-getter to help the business grow. Some productivity enhancing ben-efits I have heard of include f lexible schedule, work from home options, and casual dress code. Are any of these available here? ”

Even before stating your personal salary and benefits preferences, job ap-plicants should focus on keeping their attitude and approach respectful.

“Even with the ‘buyer’s market,’ finding good people is still tough,” Levinson says. “Regardless of age or ex-perience, you will not be hired by this crowd if you are arrogant and make de-mands versus professional negotiation requests. Being overqualified or under-

qualifed is less an issue than knowing the job for which you are applying, and presenting yourself in the best light and as a match.”

—Craig Causer is the managing editor of IEEE Potentials.

Making a list and checking it twiceThis list is comprised of the most popular employee benefits to consider

when applying for a job.

InsuranceMedical

Dental

Vision

Life

Disability

Accounts/PlansRetirement/pension plans

Health savings accounts

Time offHoliday/vacation/sick/

personal time

Flexible schedule

Paid leave

Financial assistanceBonuses

Adoption assistance

Education assistance

Childcare subsidy

Subsidized commuting

Fitness center discounts

ProgramsHealth and wellness

Family services

Legal counsel

EVEN BEFORE STATING EVEN BEFORE STATING YOUR PERSONAL SALARY YOUR PERSONAL SALARY AND BENEFITS PREFERENCES, AND BENEFITS PREFERENCES, JOB APPLICANTS SHOULD JOB APPLICANTS SHOULD FOCUS ON KEEPING THEIR FOCUS ON KEEPING THEIR ATTITUDE AND APPROACH ATTITUDE AND APPROACH RESPECTFUL.RESPECTFUL.

Levinson discusses resume tips with ECPI graduate Reggie Yourse.

Authorized licensed use limited to: Univ of Calif Berkeley. Downloaded on May 10, 2009 at 12:30 from IEEE Xplore. Restrictions apply.