Compensation Tips: Everything is Negotiable
By Linda Jenkins, Salary.com
It’s all negotiable. Every new job — every performance review, in fact — is an opportunity to negotiate base salary, various kinds of bonuses, benefits, stock options, and other incentives that add to job satisfaction and provide financial security. Taking control of your job search and conducting a smart search that takes into account more than just financial considerations can also lead to that elusive condition called happiness. Are you prepared to negotiate for happiness?
The negotiation process is an opportunity to define, communicate, and achieve what you want. But to get the right job that pays what you deserve, you’ll need to do your homework. The first step in the negotiation clinic is to understand the negotiation basics.
Negotiation requires gathering information, planning your approach, considering different alternatives and viewpoints, communicating clearly and specifically, and making decisions to reach your goal. In her book, Job Offer! A How-to Negotiation Guide, author Maryanne L. Wegerbauer describes how each party in a negotiation can fulfill specific needs and wants of the other party, a concept called “relative power.” According to Wegerbauer, understanding your strengths and resources; being able to respond to the needs of the other party; and knowing your competition enable you to assess your bargaining position more accurately.
Learn the power factors
What is your power over the other side of the table? Relative power, Wegerbauer says, is a function of the following.
Business climate factors
Company factors
Hiring manager factors
Applicant factors
Plan and communicate
A negotiation is composed of two major steps: planning (research and strategy) and communication (information exchange and agreement. In the planning step, get as much information as you can up front and, using both the company’s written and unwritten signals, map your skills against what the company values.
Give it time
Timing is also important. Remember that the best time to negotiate is after a serious job offer has been made and before you have accepted it. Once you are clear about the initial offer, you can express interest and even enthusiasm, but ask for more time to consider the job offer. Wegerbauer suggests that this request is made “in light of the importance of the decision.” Sometimes you can split up the negotiating session into two meetings: one to firm up the job design and responsibilities and the second to go over compensation and benefits. The key message here is not to make an impulsive decision. If they really want you, there’s time.
Consider the alternatives
You should be prepared with a rationale for everything to strengthen your position. Counteroffers are an expected part of many negotiations, so be sure to remain flexible. Keep in mind that different companies can give negotiations more or less latitude. Smaller companies may be more flexible than large, bureaucratic companies. Unionized companies usually have very little room for individual negotiations.
Negotiate for a win-win
Remember that the negotiation is not about strong-arm tactics or win/lose. It is a two-way process where you and your prospective employer are each trying to get something you need. In a negotiation, you’re both designing the terms of a transaction so that each of you will receive the maximum benefit from the final agreement.
source: imdiversity
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In: Job Search Advice · Tagged with: Base Salary, Business Climate, Business Cycle, Climate Factors, Financial Considerations, Financial Security, Gathering Information, General Employment, Guide Author, Hiring Manager, Job Offer, Job Satisfaction, Linda Jenkins, Negotiation Process, Power Factors, Relative Power, Right Job, Smart Search, Stock Options, Unemployment Rate
What Not to Say in the Workplace
Don’t say: “That’s not my job.”
Why: If your superior asks you to do something, it is your job.
Instead say: “I’m not sure that should be my priority right now.” Then have a conversation with your boss about your responsibilities.
Don’t say: “This might sound stupid, but…”
Why: Never undermine your ideas by prefacing your remarks with wishy-washy language.
Instead say: What’s on your mind. It reinforces your credibility to present your ideas with confidence.
Don’t say: “I don’t have time to talk to you.”
Why: It’s plain rude, in person or on the phone.
Instead say: “I’m just finishing something up right now. Can I come by when I’m done?” Graciously explain why you can’t talk now, and suggest catching up at an appointed time later. Let phone calls go to voice mail until you can give callers your undivided attention.
source: realsimple.com
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In: On The Job Advice · Tagged with: Appointed Time, Boss, Confidence, Credibility, job, Phone Calls, Priority, Salary Information, Undivided Attention, Voice Mail
When is it time to go? Five make-or-break factors
If you’re sitting in your office bored, ticked off or feeling down you may be thinking it’s time to go. BUT, you’re not sure. You are rationalizing staying because there is one more great thing you can contribute or you feel obligated in some way. We all go through this kind of mental tug-of-war at one time or another. Knowing when it’s the right time to give yourself permission to move on is one of those big life changers and with it comes anxiety.
There are some indicators of satisfaction that you can examine that will help you make that decision. Let’s review some of them to help you move that decision making along.
- Salary – I’m almost embarrassed to mention money. Not because “it shouldn’t matter”, it’s because I know it isn’t one of the top 3 issues. I mention it first because everyone does and I want to get it out of the way. What you are paid as it turns out are not the top 3-5 satisfiers for your career. It is something, however. If it is out of line or doesn’t pay the bills it is a big DISsatisfier and you do need to move on. If your pay is appropriate for the job you do, area you live in and meets most of your need, then you’re probably doing fine and this isn’t a big enough deal to make you leave.
- Boss – This one is the big one. The person that you immediately report to is the number one top item that will make work life great or bad. You don’t have to love this person or even be buddies but you do need to respect this person and feel that it’s mutual. Also, you need to be realistic about this person. Bosses will never be perfect. They are like the rest of us; they have bad hair days and also have their own quirks. The question you need to ask yourself is: “Can I be successful doing work with this person in the picture?”
- Job Content – This is all about the kind of work you perform. You need to feel like you have the skills, talents and background to perform the job. At the same time you should feel like you can make a contribution and grow. Job growth is not necessarily about being promoted. It is learning new tasks, taking on new responsibilities and making new contributions. The content of your job should be something that continuously stimulates and interests you. If you have reached a point where everything is pretty much the same, you need to move on before it impacts your self esteem.
- Work environment – This is both the physical space you do the work in and what is in the environment such as people, building and location. You can have a great job, great boss but have to commute 2 hours each way. Your life is potentially impacted too significantly. You may like the job but the environment you are in is too toxic because of interoffice relations. The people you work with could be your source of dissatisfaction and you may not even realize it. We form friendships and alliances with the people we spend so much time working with. At the same time they may feel freedom in complaining and pointing out all the things that are bad. This will have a negative impact on you. You need to examine this situation and determine what you can control and what you can’t. At the same time, you need to determine if you were to design the perfect work environment, would it be like this?
- Something else If all the stars are aligned and the items listed above are all working well enough for you, you may be tugged by “something else”. The something else could be a lifelong dream of being a nurse or something completely different than what you’re doing today. The something else could be a deep desire to move and live somewhere other than where you are today. It’s ok to give yourself permission to move toward something as opposed to away from your current career. This category of “something else” may turn out to be your calling.
Life is too short to spend too much time working at a job situation you don’t love and doesn’t nurture your soul. Your career should feel shamefully fun and more like a vocation. Making a decision like this can be tough but it is not a sign that you’re doing the wrong thing. It’s tough because it is a big part of how you spend your life. It’s tough because you want to make sure you enjoy the next thing. It’s tough because it’s a change.
source: atlantacareerpath
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In: On The Job Advice · Tagged with: Anxiety, Background, Bad Hair Days, Bored, Boss, Break, Buddies, career, job, Life Changers, Love, Money, Pay Bills, Quirks, Respect, Right Time, Salary, Satisfaction, Talents, Tug Of War
