Heard at Career Transition Workshop-Dallas, 6/28/10

Session 11 Win-Win Negotiations

Discover the art and science of salary negotiations. Realize the full potential of the "benefits" side of the equation.

Part 1: The price is right

"Best joke about prostitution ever done was by Bernard Shaw. He was at a party once and he told this woman that everyone would agree to do anything for money, if the price was high enough. `Surely not, she said.' `Oh yes,' he said. `Well, I wouldn't,' she said. `Oh yes you would,' he said. `For instance,' he said, `would you sleep with me for... for a million pounds?' `Well,' she said, `maybe for a million I would, yes.' `Would you do it for ten shillings?' said Bernard Shaw. `Certainly not!' said the woman `What do you take me for? A prostitute?' `We've established that already,' said Bernard Shaw. `We're just trying to fix your price now!' "

You don't get what you want but what you deserve

• True market value-range that most companies will pay for their positions. Varies over...

• time,

• with supply/demand of jobs and employees,

• industry,

• locations.

Understand companies compensation philosophy, what percentile range is their pay range high, medium, low of industry.

Target Maximum Value. Point above true market value

(set point by job seekers)

Threshold Minimum Value. Point below true market value-range. Cut off dollar amount, floor of pay range. Even when offered position any offers below this rejected.

Objective is to move the initial offer closer to target market value. That's negotiations.

Be a person of knowledge = power

• Conduct salary research

• Read salary surveys

• Test salary calculators

• Power is to know your true market value-range for your position in your industry in local you want to work.

Winning is when your needs are met not your greed

New International Version (©1984) Bible
For the love of money is a root of all kinds of evil. Some people, eager for money, have wandered from the faith and pierced themselves with many griefs.

What are the Right $$$ 4 U?

• One in a million

• You are a dime a dozen

• Where between 10¢ and Million do you fit for this position?

• At what price would you take a bad job?

• Is offer Above/Below Threshold Min Value?

Part 2: Bargaining the Bucks, dickering for the dollars

There are Good, Bad, & Ugly issues at this point in hiring you.

• Take it or,

• Negotiate a better deal

Be careful that the victories of today do not carry the seeds of future defeat.

Win war for work not lose offer over the battle of the bucks

Leverage

1. Are you in the right position, close to or far away from fulcrum

2. Who is chasing who?

3. Can I walk the deal?

4. Be employed now for max leverage

5. Negotiate with future boss

6. Going with emerging company

7. Long time looking for candidates

8. Talk $$$ first loses leverage

9. Strong economy & healthy company = more leverage

10. Top of food chain = more leverage

11. Total Rewards package = (compare to 4 B's)

    1. Base

    2. Bonus

    3. Business-getting piece of business

    4. Benefits

When asked “Would you work for XXXX amount?”

• Confirm How Firm

• Ask “Are you making me an offer?” Yes or no

• Get any offers in writing

How to Bump the Buck

• Raise the rung

• No whine before it's time

• Request rapid review

Part 3: Evaluating the Extras-doing due diligence

• Consider company compensation strategies

• All benefits NOT equal

• Use CTW A-Z benefits checklist from workbook

• Yield on minors

• Zero in on majors-what's your end gamete

Wrap-up

• Take time to think it over

• Balance give and take, not need and greed

Now that you know these things, you will be blessed if you do them. John 13:17

New meeting date/location effective 7/6/10

• Park Cities Baptist Church Fellowship Hall
  3933 Northwest Parkway [east of intersection of NW Highway and Dallas North Toll Road]
  Dallas, TX 75225
• Video driving directions http://screenr.com/Jum
  

• Topic: Session 12 WRAP-IT-UP!
  Two part show, Q&A on all topics all issues from prior 11 weeks and guest speaker.  Your attitude affects your actions-your beliefs affect your behavior-your outlook affects your outcome. Get empowered by enthusiasm. The guest speaker's enthusiasm is contagious!

  Thelma Wells, author and popular speaker on the Women of Faith tour, specializes in the art of motivating, inspiring, and equipping people to “be their best.” Thelma possesses the unique talent of communicating with her audience in a disarming, folksy manner.  http://www.thelmawells.com

 

 

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