c Techniques

Just preparing properly for a job interview is not enough, you also need to consider salary negotiation tactics before going for an interview. Salary negotiation is the art of obtaining the best salary possible, directly proportional to the responsibility of the position that a candidate is seeking. If you are about to face a job interview in a company you want to work in, it is very essential for you to learn the art of negotiating salary. By learning this important art of negotiation, you can assure yourself of a good pay package from the very start of your job in a particular company.

You need not wait for performance appraisals which predominately count on your productivity and performance. The pay package is the most significant thing that both the candidate and the employer are interested in. The candidate will try his best to increase his pay, whereas the employer will try to offer the candidate the lowest salary but with the same job responsibilities. Here are some of the most important job salary negotiation tips that you can use to get yourself a salary that is in sync with the position you are applying for.

Obtain Few Job Offers
To increase your leverage to ask for the best salary, you need to have in hand some good job offers which may seem competitive to the job you are intending to get. It is considered that having few job offers in hand not only gives candidates a chance to practice their salary negotiation tactics with different organizations, but also gives the candidate a certain amount of security and confidence in asking for a higher salary. Possessing job offers relevant to the position you are applying for gives you the advantage to negotiate a salary which is deserving and according to your skills and capabilities. Having many job offers also enables you to negotiate salary with several different companies, and choose the place which provides the best pay package. Employers tend to offer you less salary if they come to know that you do not have any other job offers, and this is your only chance of getting a job.

Position Yourself as a Beneficial Candidate
To boost your salary negotiation skills, you need to position yourself as a valuable and 'absolutely necessary' candidate, which any potential company will not want to let go. Your exceptional value and worth can be displayed to the employer via your resume, the way you perform in the interview, your dressing style, preparation of the potential company's information, and of course, your skill set and experience. You simply need to remember that the commencement of salary negotiations in a job interview can only be done after the employer is assured of your exceptional value and worth.

Conduct Salary Research
A person who has carried out salary research is more likely to succeed in salary negotiation, than one who is not aware of his salary range. For the purpose of negotiating the best salary possible, it is essential to conduct an exhaustive salary research to determine what is the standard pay for executives with similar experience and education in the same field. An elaborated research like this would effectively enable potential candidates to assess what the lowest and highest pay packages are. It would also enable them to put forth a demand for a suitable salary range during negotiations. You should also take in mind that the salary range may largely depend on the state you are working in or the state you intend to work in. If you get a job in a large reputed company, you are more likely to receive a good pay package. The primary factors and determinants for assessing salary ranges are the job description, kind of industry, size of the organization, location of the company, the candidate's educational status, and most importantly, the work experience. These factors would efficiently enable you to place suitable quotations during a pay package bargain.

Correct Time for Salary Negotiation
The art of salary negotiation is the most crucial factor for obtaining the correct salary. You should try to obviate premature commencement of salary discussion. You should start the essential salary negotiation only after the interviewer asks about your requirements and expectations. If you mention the salary factor earlier than necessary, you may be opted out by speaking of money too soon. You should let the interviewer take the first step in salary negotiation, and then you can proceed with the conversation. Many times, it is difficult not to talk about the salary range, particularly when questioned about your pay history and expectations. Just remember that the sooner you start negotiating a salary in an interview, the lesser are your chances for succeeding in the salary discussion.

Offered Salary Considerations
Do not underestimate your value and accept what is offered, even if you need the job urgently and have no other alternative. Stave off such desperate decisions, since even the best offers need to be properly critiqued. That being said, you should also never reject offers straightaway when the salary is a lot lower than what you anticipated. It is recommended to ask for some time to think on the matter before declining the offer. Moreover, a majority of employers would give you some time to think about the salary they are offering and the salary which you expect to receive. If the offered salary is very low, you do not have any choice than to decline the offer. However, if the salary offered is acceptable but not as per your prospects, you need to take in mind the other benefits

Effective Sales Negotiation Skills And Techniques

'Negotiation' is the most important skill, that a salesman should possess. It is only your negotiation skills that determine your sales. Here's some advice on how to gain effective sales negotiation skills and techniques.

You may be a person who does not like to negotiate, but often ends up in positions where negotiation becomes necessary. Most people wrongly think that negotiation skills are only for salespeople. But, imagine a situation where you are planning to sell your house. Now, without negotiation you might end up getting a price that's much lesser than what your house deserves.

Think of the losses you might have to incur, just because of poor negotiating skills. Thus, reasonably good negotiation skills can benefit you greatly, even if you are not in the sales business. For people in sales businesses, excellent negotiation skills are a must. Your sales depend upon your 'sales talks' and the price you fetch for your product, entirely depends upon your negotiation skills. Consider following guidelines for effective sales negotiation skills and techniques.

Understand Your Product and Evaluate Customer Feedback

The first step towards excellent sales negotiation, is to thoroughly understand your product. Study your product or service well, and evaluate the values that you have to offer. Seeking feedback from your customers is crucial to sales success. Your customers can give you a better idea about your weak points, and the areas where your competitors score over you. Always be open to suggestions and criticism from customers. They are pivotal in improving your product. Understanding your weak points can help you in the preparation of an explanation and swiftly sail you through tricky questions, during a negotiation.

Understand Your Competitors

Conduct a market research and find out who the major competitors are, in your chosen product line. Research the tactics of these contenders and plan accordingly. Identify your strong areas and assert them positively, on the negotiation table. Refrain from criticizing your competitor's product, as that would make you look too desperate to sell your product.

Plan a Sales Strategy

Plan a sales strategy with your marketing team. Develop a line upon which to act, during a negotiation. Adhere to those guidelines while you are actually negotiating.

Understand Your Customers

Only customers can tell you what motivates them to buy your product. Hence, ask them key questions and try to figure out what this motivation is. You may get a general idea, depending upon your sales expertise and past experiences. Understanding their motivation can determine your next step in a negotiation process.

Focus on Value and Not on Price

Always emphasize upon the values and the benefits your product is likely to offer to the customers. Smartly avoid any price talk, especially when your product in leading in that area. If possible, dodge direct price related questions. The customer is anyway going to get it straight, as the price is the foremost factor that influences his decision to buy. Until then, keep flashing your 'value card'.

Do Your Homework

Last but not the least, do your homework properly. Asses all the situations and prepare yourself accordingly. The other party is likely to come well prepared as well, hence have a backup plan ready to deal with their plan.

On the Negotiation Table

No matter how hard you prepare for a particular negotiation meeting, it is only your actual performance on the table that determines your sales. Do not chicken out if you find the situation going out of hand. Stick to your plan as far as possible, but do not hesitate to take drastic decisions, if you must. If you do not see a profitable situation for yourself, try to reduce your losses and attain a win-win situation for both the parties.

Negotiation skills are seldom inborn. You have to take efforts to develop these particular skills. Excellent negotiation skills can take you a long way in your business.

3 Keys To A Win-Win Outcome In Negotiation

Some negotiators have a strong reputation for consistently achieving win-win outcomes in their negotiations. To achieve this favorable reputation for yourself, keep the following guidelines in mind.

1.Avoid narrowing the negotiation down to one issue.

Focusing on just one issue sets the scene for a win-lose outcome. For example, let’s say you want to buy a hundred computers for your corporation and your budget is $1,000 per computer. The model you prefer is listed for $1,400 per computer. You might be tempted to lock onto the price issue and do your best to get the computers discounted to $1,000.

A better strategy would be to bring up additional deal points to negotiate, such as delivery date, financing, upgrades, warranty, training, and support-all of which contribute to the overall “price” of the product. Bringing multiple issues to the table provides the opportunity for you to “juggle” the deal points to create a win-win outcome.

2.Realize that your counterpart does not have the same needs and wants as you do.

 If you do not take this factor into consideration, you negotiate with the idea that your gain is your counterpart’s loss, and vise-versa.

In the computer example above, most negotiators would assume that the number-one goal of each counterpart would be to get the best respective price. But if price were the most important factor for all buyers, they would all purchase the cheapest computer, and no other model would ever be sold! The reason there are so many models is that buyers almost always have needs other than price that drive the outcome in negotiations.

3.Do not assume you know your counterpart’s needs.

Each counterpart in a negotiation usually has both implicit and explicit needs. Generally explicit needs involve the product or service. Examples include price, delivery date, terms, warranty, service agreements, training, support, and upgrades. Implicit needs involve the negotiator personally and include such things as reputation and credibility, a feeling of being “right” or being liked, a sense of importance, trust in the relationship, loyalty to a company or its product or service, approval of the boss or a significant other, a sense of safety and security, and the ability to act autonomously.

What is important to note that is in a negotiation, it is always the implicit needs, not the explicit needs that drive the final decisions to move ahead and proceed to a win-win outcome. Remember, to better understand the implicit needs of your counterpart in a negotiation-and have a better chance of bringing the negotiation to a win-win conclusion-you need to ask questions and listen carefully to the responses.

7 Steps To Win-Win Negotiations

We define a win/win negotiation, as an agreement that is equally beneficial to everyone.  All parties come out of a negotiation with a workable agreement that benefits everyone involved. If your current negotiation strategies are not working for you, change your strategy.Think win/win and let the other person know about it right away. 

Be up front and explain your strategy.  Talk about the benefits to both of you from this approach.  This type of negotiation will produce a satisfactory agreement for both sides, and in a style that will leave both parties satisfied.

Win/Win Negotiation involves these seven steps:

    1.UNDERSTANDING PEOPLE - People negotiate with people. Getting their agreement that a Win/Win approach is fair and good for business over the long haul.

    2.UNDERSTANDING THEIR INTERESTS AND ISSUES - Both business and personal. Know what the win/win looks like. Determine how you can satisfy what they are looking for and what you are looking for.

    3.EXPLORING AND INVENTING OPTIONS - Brainstorm several options that make sense.

    4.KNOW WHAT YOU WANT - Know what you want the deal to look like after the negotiation.  Specifically, what will make this a fair arrangement for you?

    5.KNOW WHAT THEY WANT - Interview all the key people involved. Make sure you understand what they want.

    6.DO YOUR HOMEWORK – Understand their motivations style and adapt your style to address these motivations. Research answers to the important issues involved in this negotiation in advance.  Consider the important questions and concerns everyone will have.

    7.FINDING MUTUAL SATISFACTION - What do the parties want?  What constitutes a win for each person involved?

So the best negotiating technique is a Win/Win approach.  It is based on collaboration and refers to partnering with the customer, so that the end result is a satisfactory outcome (a win/win) for both sides.  Collaboration allows both sides to come out as winners.  Never underestimate the importance of preparing to negotiate. Pre-Negotiating Planning allows salespeople to understand the prospect’s needs and motivation and provides the essential elements to make the win-win a reality.

Win-Win Negotiations - Online Self-Paced Course

In this course we examine the negotiation process and determine the types of negotiations that cause people the most difficulty. People negotiate with people so recognizing how to address the behavioral styles of all involved is critical. You'll review the strategies behind some common negotiation tactics and learn to recognize the pitfalls that you can avoid. You'll realize there is no need to fear or to glamorize negotiating.

It is nothing more than the process you use to reach agreement with another. You'll practice an effective negotiation process that will help you and the other party get to a win/win. If your goals include a mutually beneficial long-term relationship, this course can help you get there.