Sunday, July 15, 2012

The Art of Negotiation

To negotiate for a higher salary, it requires time-tested tactics.


If we have been working very hard and putting in long hours at work, we feel we should be getting more than we are currently paid.

To wait patiently for our bossses to notice our dedications and propose a salary increase, chances are very low.

Do some research to determine our market worth.
What the market is paying to others of comparable skills and experience.

Do not undersell ourselves and settle for something that we are not entirely comfortable with.

It is important that we initiate the process and build a strong case on why we deserve a raise.

Sell ourselves ....
Articulate our commitments to take on new or added responsibilities and projects that will help our bosses to achieve the company's goals and objectives.
Always document our achievements, our performance and our contributions to the company, offering a solid case why we deserve a raise.

Be realistic about what we are asking for and seek to understand the limits of our organizations.

Depending on what motivates us. 
Be flexible and be open to other forms of compensation and benefits. 
It could be in the form of a bigger bonus, sponsorship of a course of our interest, having an option of working from home, the opportunity to travel or simply having more paid leave so that we can have longer weekends.

Anticipate objections and stay professional at all times.
Regardless of what the outcome, always remain calm, never resort to ultimatums and threats.
Keep a positive attitude through the process, let our bosses know we appreciate their time and to consider our request.

Continue to collate more documentation of our successes and achievements.
Be more prepared and focused, likely for us to achieve success.