TAP In with Tristan : Lessons on Negotiating

Tristan talks about a few lessons in negotiation. Many people feel like they can’t or shouldn’t negotiate when they are on the job search, but the fact is that most companies expect you to negotiate. According to a survey by Fidelity, 58% of Americans accepted the initial offer for their current position without negotiating. But we know that negotiating works. In fact, that same study found that of the people who negotiated, 85% of them received at least some of what they asked for. Check out Tristan’s advice to help you negotiate better! 

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TRANSCRIPT

Tristan: What’s going on, Living Corporate? It’s Tristan, and I want to thank you for tapping back in with me as I provide some tips and advice for professionals. Today, let’s talk about a few lessons in negotiation.

Many people feel like they can’t or shouldn’t negotiate when they are on the job search, but the fact is that most companies expect you to negotiate. According to a survey by Fidelity, 58% of Americans accepted the initial offer for their current position without negotiating. But we know that negotiating works. In fact, that same study found that of the people who negotiated, 85% of them received at least some of what they asked for.

So let’s talk about some key tools or steps to help you negotiate better.

First, understand the other party’s motivation. You have to make companies feel like you will not only meet but exceed their needs. Work on conveying how your skill set and unique background will not only fit their needs but generate the results, value, or impact they’re seeking.

Second, be willing to walk away. When negotiating something, don’t become married to a specific outcome. You have to do some market research to understand what companies have or will be willing to pay for the type of work you will be doing. Once you’ve done that, set your range or terms that you are willing to accept before the negotiations. Never be willing to accept any old offer that comes your way; employers can smell desperation from a mile away and will lowball you.

Third, start with the extreme but ensure it’s not too extreme. So let’s just say you want more vacation days from your job. Instead of asking directly for those, ask for a $20k salary increase. Your manager is more than likely going to say no. Once they do, now a request for more vacation days seems more reasonable, and you have a better chance of securing what you want.

Fourth, understand the power of silence. Whoever speaks the most gives the other party more power. If you listen more than speak, you will not only know your motivation but also figure out the other party’s motivations. This newfound knowledge will allow you to identify where your motivations or interests converge, strengthening your negotiation strategy.

Lastly, don’t get greedy. After you get what you want, stop negotiating. I’ve seen too many examples where people start over-negotiating and asking for more, only to lose the original concession they got or the whole deal. Don’t be that person.

Remember, salary isn’t the only thing you can negotiate. You can consider things like paid time off or vacation, 401k contribution, student loan repayment or tuition assistance, a professional development fund, a sign-on bonus, or even relocation expenses during your negotiations.

This tip was brought to you by Tristan of Layfield Resume Consulting. Check us out on Instagram, Twitter, and Facebook @layfieldresume, or connect with me, Tristan Layfield, on LinkedIn.

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