We all use our negotiation skills on a daily basis, from simple encounters we have like negotiating a fee for office supplies to more important relationships with our staff. Getting the conditions right for a positive and progressive engagement is really important in achieving a successful outcome for both parties.
Here are 5 simple steps that should make a difference:
- Prepare strategically for negotiations
- Generate top down support
- Influence and manage change
- Create and claim value at the negotiations meeting
- Engage as partners and not as opponents
Prepare strategically for negotiations:
- Set your strategy for reward – and agree this with the Senior Management Team (SMT)
- Set ambitious targets
- Clarify your priorities – again get input from the SMT group
- Identify your BATNA – Best Alternative To Negotiated Agreement , what can be achieved elsewhere if not at this meeting
- Set your Walk Away Limits
- Develop multiple bargaining packages
- Assess the other party
Generate top down support:
- Identify the key stakeholders and involve them in the process
- Establish context for the terms to be agreed and set a shared goal so that there is buy in
- Communicate the negotiation plan and seek feedback before you get sign off
- Maintain regular contact and communications with all of the stakeholders though out the process
Influence and manage change:
- Link the strategy of what you need to achieve to a wider context so that there is a broader understanding of what needs to change
- Continue to provide ongoing communications with employees through out the process and afterwards to ensure the commitment to the agreement is still there
- Establish a shared understanding before you start the negotiations, long before you have you meeting
Create and claim value at the negotiations meeting:
- Get all the issues on the table
- Uncover interests and priorities
- Be creative and identify new options and ideas
- Link the issues and make simultaneous proposals of equitable value
- Value the creation of trade off’s
- Get a share of that value
- Get the tone and atmosphere right – engage as partners
Engage as partners and not as opponents
- Establish trust and repair any damaged relationships
- Establish a process and timelines and make sure these are communicated to the stakeholders so that you can set expectations
- Manage emotions and people’s problems as you progress through the process
Business professionals must know how to negotiate well to successfully close deals, avoid conflicts, and make the organisation a better place to work. Learning the right way to negotiate will lead to a successful outcome. Contact Voltedge Management to find out more about our courses on successful negotiation skills – email info@voltedge.ie or phone the office 01-5252914.