Question

Course: NEGOTIATIONS

When negotiating you should always prepare and brainstorm with high expectations. BUT, be ready for reality. What are some things you should do and should not do when setting realistic aspirations? Give examples of each.

Answer 1

Some things that should be done are the identification of the possible solutions that can benefit both the parties, taking initiatives proactively and consideration of the views or concerns of the counter parties to develop amicable solutions as well as flexibility in negotiation. For example, a negotiation between employer and the prospective employee for fixation of compensation, should make employer ready to give some benefits in terms of variables or performance oriented incentives, while giving a fixed basic pay along with the other amenities. It will help employer convince to the employee that a superior performance can lead to a superior payment received. At the same time, employer should accept the employee's argument that it takes some time to deliver the optimum performance and while doing so, he or she should be given the optimum compensation. So, adequate compensation can be planned with collaboration.

Some things that should not be done, are rigidity with a position of negotiation,  always putting self interest ahead and not considering counter party's concerns and offering a solution that is most suitable for the one party only. For example,  an employer with high headedness and approach of take or leave the compensation plan to the employee, will make the negotiation to fail.