smart negotiation 101
DESCRIPTION
Negotiation Fundamentals for EmployeesTRANSCRIPT
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SMART Negotiation 101
Prepared in May 2013
by Ji Eun (Jamie) Lee@jieunjamie
LinkedIn Profile
By Ji Eun (Jamie) Lee
Friday, May 31, 13
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Agenda
• Define SMART strategy
• Visualize Success
• Assess your bargaining power
• Strategies to boost bargaining power
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SMART Negotiation
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SMART Negotiation*
By Ji Eun (Jamie) Lee
*SMART acronym by Gwen Taylor
Friday, May 31, 13
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SMART Negotiation*
• Stay focused on your agenda and relationship
By Ji Eun (Jamie) Lee
*SMART acronym by Gwen Taylor
Friday, May 31, 13
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SMART Negotiation*
• Stay focused on your agenda and relationship
• Measurements matter
By Ji Eun (Jamie) Lee
*SMART acronym by Gwen Taylor
Friday, May 31, 13
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SMART Negotiation*
• Stay focused on your agenda and relationship
• Measurements matter
• Ask clearly and succinctly
By Ji Eun (Jamie) Lee
*SMART acronym by Gwen Taylor
Friday, May 31, 13
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SMART Negotiation*
• Stay focused on your agenda and relationship
• Measurements matter
• Ask clearly and succinctly
• Reiterate your contributions, redirect when necessary
By Ji Eun (Jamie) Lee
*SMART acronym by Gwen Taylor
Friday, May 31, 13
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SMART Negotiation*
• Stay focused on your agenda and relationship
• Measurements matter
• Ask clearly and succinctly
• Reiterate your contributions, redirect when necessary
• Time to discuss and follow-up. It’s a process.
By Ji Eun (Jamie) Lee
*SMART acronym by Gwen Taylor
Friday, May 31, 13
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Visualize Success
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Con.fi.dence - noun
By Ji Eun (Jamie) Lee
Friday, May 31, 13
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Con.fi.dence - noun
• Firm trust, certainty
By Ji Eun (Jamie) Lee
Friday, May 31, 13
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Con.fi.dence - noun
• Firm trust, certainty
• Do your employers trust you to do your job?
By Ji Eun (Jamie) Lee
Friday, May 31, 13
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Con.fi.dence - noun
• Firm trust, certainty
• Do your employers trust you to do your job?
• Do you trust your employers to hold up their end of the bargain?
By Ji Eun (Jamie) Lee
Friday, May 31, 13
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Con.fi.dence - noun
• Firm trust, certainty
• Do your employers trust you to do your job?
• Do you trust your employers to hold up their end of the bargain?
• Self-assurance from your appreciation of your abilities and qualities
By Ji Eun (Jamie) Lee
Friday, May 31, 13
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Con.fi.dence - noun
• Firm trust, certainty
• Do your employers trust you to do your job?
• Do you trust your employers to hold up their end of the bargain?
• Self-assurance from your appreciation of your abilities and qualities
• How do you value your work?
By Ji Eun (Jamie) Lee
Friday, May 31, 13
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The Most Confident YOU
By Ji Eun (Jamie) Lee
Friday, May 31, 13
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The Most Confident YOU
• When are you the most confident?
By Ji Eun (Jamie) Lee
Friday, May 31, 13
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The Most Confident YOU
• When are you the most confident?
• How does she feel, look, walk, and talk?
By Ji Eun (Jamie) Lee
Friday, May 31, 13
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The Most Confident YOU
• When are you the most confident?
• How does she feel, look, walk, and talk?
• What can she do?
By Ji Eun (Jamie) Lee
Friday, May 31, 13
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The Most Confident YOU
• When are you the most confident?
• How does she feel, look, walk, and talk?
• What can she do?
• Who inspires you? Why?
By Ji Eun (Jamie) Lee
Friday, May 31, 13
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The Most Confident YOU
• When are you the most confident?
• How does she feel, look, walk, and talk?
• What can she do?
• Who inspires you? Why?
• What are your aspirations?
By Ji Eun (Jamie) Lee
Friday, May 31, 13
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What She Wants She Gets
How? She asks for it!
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What She Wants She Gets
• What is success to you, professionally AND personally?
How? She asks for it!
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What She Wants She Gets
• What is success to you, professionally AND personally?
• What would you want more in life, if you were certain you can get it?
How? She asks for it!
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What She Wants She Gets
• What is success to you, professionally AND personally?
• What would you want more in life, if you were certain you can get it?
• If you were to ask for it, what would be possible in your life?
How? She asks for it!
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Assess Your Bargaining Power
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Your Bargaining Power
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Your Bargaining Power
• What are your contributions?
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Your Bargaining Power
• What are your contributions?
• What is the economic value of your contributions to your employer?
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Your Bargaining Power
• What are your contributions?
• What is the economic value of your contributions to your employer?
• What are you getting for your contributions?
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Your Bargaining Power
• What are your contributions?
• What is the economic value of your contributions to your employer?
• What are you getting for your contributions?
• Who else would pay for your services?
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Know Your Value
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Know Your Value
• Ask for what you want based on your value
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Know Your Value
• Ask for what you want based on your value
• Forget what’s fair
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Know Your Value
• Ask for what you want based on your value
• Forget what’s fair
• Forget bare minimums
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Know Your Value
• Ask for what you want based on your value
• Forget what’s fair
• Forget bare minimums
• What you’re offered, at least initially, is NOT your value
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Know Your Value
• Ask for what you want based on your value
• Forget what’s fair
• Forget bare minimums
• What you’re offered, at least initially, is NOT your value
You don’t get what you deserve,
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Know Your Value
• Ask for what you want based on your value
• Forget what’s fair
• Forget bare minimums
• What you’re offered, at least initially, is NOT your value
You don’t get what you deserve,you get what you negotiate.
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Questions
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Questions• Are you exceeding your work objectives?
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Questions• Are you exceeding your work objectives?
• If so, how and by how much?
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Questions• Are you exceeding your work objectives?
• If so, how and by how much?
• If not, what’s keeping you?
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Questions• Are you exceeding your work objectives?
• If so, how and by how much?
• If not, what’s keeping you?
• Is this being communicated to your employers?
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Questions• Are you exceeding your work objectives?
• If so, how and by how much?
• If not, what’s keeping you?
• Is this being communicated to your employers?
• Do you have a specific plan to bring additional value to your company? Can you articulate it?
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Questions• Are you exceeding your work objectives?
• If so, how and by how much?
• If not, what’s keeping you?
• Is this being communicated to your employers?
• Do you have a specific plan to bring additional value to your company? Can you articulate it?
• What would be the additional benefit to your employers?
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Set Yourself Up For Success
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Set Yourself Up For Success
• Align your goals with company objectives
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Set Yourself Up For Success
• Align your goals with company objectives
• Frame your asks as a mutual benefit
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Set Yourself Up For Success
• Align your goals with company objectives
• Frame your asks as a mutual benefit
• Make sure your goals are measurable and achievable
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Set Yourself Up For Success
• Align your goals with company objectives
• Frame your asks as a mutual benefit
• Make sure your goals are measurable and achievable
• If not, be prepared for BATNA
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Best Alternative To Negotiated Agreement
• What can you do if negotiation fails and an agreement cannot be reached?
• Are you willing to walk away from the table?
• Are you willing to leave this job?
• What other options do you have?
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Boost Bargaining Power
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Boost Bargaining Power
• Get inside your bargaining partners’ heads - what are their dreams, hopes and fears?
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Boost Bargaining Power
• Get inside your bargaining partners’ heads - what are their dreams, hopes and fears?
• Outperform beyond expectations
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Boost Bargaining Power
• Get inside your bargaining partners’ heads - what are their dreams, hopes and fears?
• Outperform beyond expectations
• Make yourself indispensable
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Boost Bargaining Power
• Get inside your bargaining partners’ heads - what are their dreams, hopes and fears?
• Outperform beyond expectations
• Make yourself indispensable
• Improve your BATNA - get another offer
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Real and Perceived Power
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Real and Perceived Power• What is your real power as an at-will
employee?
• Value You Bring to the Table
• BATNA
• Credentials, connections, etc.
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Real and Perceived Power• What is your real power as an at-will
employee?
• Value You Bring to the Table
• BATNA
• Credentials, connections, etc.
• How can you improve your perceived power?
• The Most Confident You
• Communication style
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Consider the Whole Package
• Salary
• Benefits
• Long-term Incentive Compensation
• Short-term Incentive Compensation
• Something special
Add it up. How much $$$ is the total?
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Take Action
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Take Action • Remember you negotiate at work everyday.
Make it count.
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Take Action • Remember you negotiate at work everyday.
Make it count.
• Reach out to your network, people you know. Ask them, would they pay for your services?
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Take Action • Remember you negotiate at work everyday.
Make it count.
• Reach out to your network, people you know. Ask them, would they pay for your services?
• Research your market rate. Dig a little deeper.
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Take Action • Remember you negotiate at work everyday.
Make it count.
• Reach out to your network, people you know. Ask them, would they pay for your services?
• Research your market rate. Dig a little deeper.
• Take colleagues out to coffee. Is there internal political stuff you don’t know about?
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Conversation Tips• Assume Power - Be in control of the
conversation
• Direct the flow with diagnostic questions (who, what, when, where, how and why)
• State your goals and expectations
• Express excitement and gratitude or disappointment - Be clear
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