When we think of negotiation, for many, we instantly think of salary and business deals. The truth is, almost everything is negotiable whether we realize it or not; our cars, homes, insurance rates and a multitude of services can be negotiated. From the job searching angle, it’s more than just figuring out your salary expectations. There’s the flexibility of the role, the benefits package, and the PTO— there is so much more to weigh in besides salary.
It’s likely that you’ve pulled out the negotiation card at some point in your career and things haven’t gone exactly how you’d envisioned. The best negotiators rely on calculated tactics and a keen understanding of their preferred outcome. So, why do negotiations fail? Here are the mistakes to avoid.
1. Failing to plan
As Benjamin Franklin once said, “failing to plan is planning to fail”. Start by thinking about the best alternative to a negotiated agreement. It’s likely that the hiring manager isn’t going to take you up on your initial bid, so you got to set up the game plan so you can avoid the time and emotional angst of a failed agreement.
2. Not collaborating
Ambitious and somewhat unreasonable demands can alienate the other side. Wine-lose is not the only option. Keep your mind open to exploring the possibilities presented from the hiring manager. In the right situation, building trust through openness and transparency may be the best way to better understand the other party’s perspective and reach a solution that works for both the employee and the company.
3. Accepting without discussion
Without any back and forth, it’s easy to not be able to properly evaluate oneself. A quick offer that’s accepted could imply that more money has been left on the table. Be hesitant to make a hasty decision; instead, spend time researching the big picture and understanding the company’s goals. It is beneficial to be patient, but also quick enough so that you’re not dragging things out at the risk of a receded offer.
4. Focusing on need over value
This is a common blunder. Focus on the value you have to offer the prospective employer rather than what you believe you require or deserve. If you intend to negotiate a job offer, do so based on thorough company research and a clear demonstration of what distinguishes you and what value you bring.
5. Not getting it in writing
When you have received an acceptable job offer and everything has been said and done, you should request the final offer in writing. No solid employer will object to this. If your boss tries to pressure you into accepting a verbal agreement and refuses to write things down, consider it a major red flag. Nothing is legitimate until it’s in writing.