Updated: Dec 29, 2019
Negotiation is VITAL throughout your career journey! Below is some advice and some tips to prepare using a 5-category framework - Who/What/Where/When/Why. By breaking down the process into smaller focus areas, it will be much less daunting to start preparing!
With whom will you be negotiating? A Human Resources staff person, your current or prospective colleague, a recruiter or your current or prospective boss? Knowing who you'll be discussing options with can greatly affect how you approach the negotiation. Find out ahead of time with whom you'll be negotiating. A question to ask could be something like "Will I be working with only you throughout the application process or will I be connecting with others at the company? If so, who else will I be working with"?
Are you negotiating a starting compensation package for a new job or will you be negotiating a raise for your current job? It is important to note that each of these situations warrants a different negotiation approach. Knowing ahead of time WHAT you are negotiating will help you properly prepare to get the outcome you desire. Consider ahead of time what you want included and the actual $$ value that you are requesting. Do you plan to negotiate a specific salary amount? Percent salary increase? Additional paid time off? Consider these and other options ahead of time and know going into the negotiation what you want.
Where will the negotiation take place - Via phone? Via email? In person? The location of the actual negotiation is another important aspect to consider prior to actually negotiating. Having a discussion with someone in person requires preparation for on-the-spot responses while if negotiation is taking place over the phone or email, you would have more time to refer to your notes.
When will you be negotiating? Knowing the timing or having even a general idea of when negotiation will take place allows you to plan your preparation. If you needed to start negotiating today versus tomorrow or in a week or month, each of those time frames would affect your preparation timeline. Find out more information about the negotiation process in your specific situation to better gauge your timeline.
Why are you negotiating? Are you applying for a new job? Have you been offered a different position or role with your current employer? Are you requesting a salary increase at your current job? Knowing why you are negotiating will help you better prepare. Negotiating for a new job with a new employer should include discussion about overall compensation package, not just salary. Negotiating compensation for a new or better role with your current employer may only really focus on salary. (though you can ALWAYS bring up other areas to negotiate as you see fit)
Putting it all together, the 5 categories above can help you begin to frame your negotiation strategy. Your path to WINNING your negotiation starts with this preparation and practice. Involve your Career Team for assistance with information gathering and creating your overall negotiation strategy.
* List the five categories (Who, What, Where, When, Why) on a sheet of paper.
* Research your company (prospective or current) to find even basic information for each of the categories and write it on the same sheet of paper.
* Use the information listed on your sheet as a framework for your negotiation preparation.
Stay tuned for more details, advice, and tips from That Purple Book. Connect with That Purple Book across social media @ThatPurpleBook