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  • Determining the wage offered an employee is a function of both internal and external factors (referred to as the “wage mix”). Internal factors include: Employer’s Compensation Policy . Each employer views compensation as one of the variables under their control and so uses pay as a tool for accomplishing organization goals. In general, companies may lead, match, or trail pay standards relative to the competition and/or combine base pay with incentives to reward specific goal-based accomplishment. Worth of a Job . Where a formal compensation system is lacking, pay is set on the subjective opinion of the responsible party’s evaluation of the worth of a job. Employee’s Relative Worth . The differential contributions and accomplishments of different employees (both hourly and salaried), may be reflected in different levels of pay, often within a given range for an employment level. Employer’s Ability to Pay . All organizations have finite budgets and compensation is limited to what is available. External factors include: Conditions of the Labor Market . The labor market reflects the forces of supply and demand for qualified labor within an area. Area Wage Rates . The company should be aware of the prevailing wage rates being paid in the area of operation. Cost of Living . Inflation increases the cost of living and compensation rates have to be adjusted upward periodically. A common benchmark is the consumer price index (CPI), compiled by the federal government. Collective Bargaining . Collective bargaining pools the power of the labor force in an effort to negotiate an increase in real wages (pay increases above the CPI). Legal Requirements . Legislative actions, such as minimum wage laws, typically set a floor for compensation, at least for hourly employees.
  • Buying a home.
  • Buying a home.
  • Determining the wage offered an employee is a function of both internal and external factors (referred to as the “wage mix”). Internal factors include: Employer’s Compensation Policy . Each employer views compensation as one of the variables under their control and so uses pay as a tool for accomplishing organization goals. In general, companies may lead, match, or trail pay standards relative to the competition and/or combine base pay with incentives to reward specific goal-based accomplishment. Worth of a Job . Where a formal compensation system is lacking, pay is set on the subjective opinion of the responsible party’s evaluation of the worth of a job. Employee’s Relative Worth . The differential contributions and accomplishments of different employees (both hourly and salaried), may be reflected in different levels of pay, often within a given range for an employment level. Employer’s Ability to Pay . All organizations have finite budgets and compensation is limited to what is available. External factors include: Conditions of the Labor Market . The labor market reflects the forces of supply and demand for qualified labor within an area. Area Wage Rates . The company should be aware of the prevailing wage rates being paid in the area of operation. Cost of Living . Inflation increases the cost of living and compensation rates have to be adjusted upward periodically. A common benchmark is the consumer price index (CPI), compiled by the federal government. Collective Bargaining . Collective bargaining pools the power of the labor force in an effort to negotiate an increase in real wages (pay increases above the CPI). Legal Requirements . Legislative actions, such as minimum wage laws, typically set a floor for compensation, at least for hourly employees.
  • I use to have Tiger Woods as my example. Use Mary Kay
  • I use to have Tiger Woods as my example. Use Mary Kay
  • I use to have Tiger Woods as my example. Use Mary Kay
  • I use to have Tiger Woods as my example. Use Mary Kay
  • I use to have Tiger Woods as my example. Use Mary Kay
  • I use to have Tiger Woods as my example. Use Mary Kay
  • I use to have Tiger Woods as my example. Use Mary Kay
  • I use to have Tiger Woods as my example. Use Mary Kay
  • Closing on the IBM deal. The silent close.
  • I love the show “Shark Tank”. Sometimes you have to say “no deal”.
  • I love the show “Shark Tank”. Sometimes you have to say “no deal”.
  • I love the show “Shark Tank”. Sometimes you have to say “no deal”.

Salary Negoiations For Women Presentation Salary Negoiations For Women Presentation Presentation Transcript

  • Negotiations for Women Presentation 21 IRREFUTABLE PRINCIPLES OF NEGOTIATION By Carla Fair-Wright, PMP, CSQE, MCP Optimal Consulting LLC
  • Introduction
    • Carla Fair-Wright,
    • As an ASQ Certified Software Quality Engineer, Carla is the Owner of Optimal Consulting, a software development firm based in Houston. Carla, an award-winning writer, is the chapter author of two books and a former featured writer for Microsoft endorsed CODE Magazine.
    • Carla is the President of Society of Women Engineers (Houston) and was recently appointed by Major White to the Building and Standards Commission Panel. She is currently producing an educational film to encourage more young women into the Science, Technology, Engineering, and Math (STEM) career path.
  • Overview
    • In the ground breaking book, “Women Don’t Ask”, Linda Babcock and Sara Laschever explain how women have been conditioned in our society to view negotiation as something to be avoided. As women, we need to reframe our concept of negotiation.
    • Negotiation is not about winning and losing. It is about collaboration .
  • 21 Irrefutable Principles Of Negotiation
    • Principle #1 - Career
    • Create situations that Benefit you and the company.
  • 21 Irrefutable Principles Of Negotiation
    • Principle #2
    • The key is Bargaining power.
    • Leverage – What is it?
  • 21 Irrefutable Principles Of Negotiation
    • Principle #3
    • Your bargaining power reflects the company’s Experiences with you.
    • Essentials for succeeding on the job
  • 21 Irrefutable Principles Of Negotiation
    • Principle #4
    • The earlier you enter the process, the more Influence you have.
  • 21 Irrefutable Principles Of Negotiation
    • Principle #5
    • Successfully completing a short-term Project can dramatically improve bargaining power.
  • 21 Irrefutable Principles Of Negotiation
    • Principle #6
    • A salary negotiation strategy is being built on four Cornerstones .
    • Cornerstone #1 Self-Knowledge and Effective Presentation
    • Cornerstone #2 How the Employer Values the Job.
    • Cornerstone #3 How the Employer Values You in the job skills, culture, and motivation.
    • Cornerstone #4 Know the Market.
  • Factors that Influence Salary Levels WAGE MIX Conditions of Labor Market Area Wage Rates Cost of Living Collective Bargaining Legal Requirements Compensation Policy of Organization Worth of Job Employee’s Relative Worth Employer’s Ability to Pay
  • ULTIMATUM GAME INSTRUCTIONS
    • How the Game Is Played
    • Two players will decide how to divide $10. Player 1 proposes a division of the $10. At the same time, Player 2 decides the minimum amount he or she
    • will accept.
    • The players make their decisions separately , without knowing what the other is doing.
  • ULTIMATUM GAME INSTRUCTIONS
    • If Player 2 is willing to accept the amount offered by Player 1, the money will be split according to Player 1’s proposal.
    • If Player 2 is not willing to accept the amount offered by Player 1, both players will get nothing.
  • 21 Irrefutable Principles Of Negotiation
    • Principle #7
    • Establish your priorities.
    • How will the individual objectives and priorities affect negotiations?
  • 21 Irrefutable Principles Of Negotiation
    • Principle #8
    • Be aware of what the employer can offer when negotiating salary.
  • Factors that Influence Salary Levels WAGE MIX Conditions of Labor Market Area Wage Rates Cost of Living Collective Bargaining Legal Requirements Compensation Policy of Organization Worth of Job Employee’s Relative Worth Employer’s Ability to Pay
  • 21 Irrefutable Principles Of Negotiation
    • Principle #9
    • Develop a Winners mentality.
  • 21 Irrefutable Principles Of Negotiation
    • Principle #10, 11, 12, 13
    • Do not discuss your salary history.
    • Always negotiate with the decision maker.
    • Assess your power position realistically.
    • Understand that negotiating is expected .
  • 21 Irrefutable Principles Of Negotiation
    • Principle #14
    • Study the rules of negotiations
  • 21 Irrefutable Principles Of Negotiation
  • 21 Irrefutable Principles Of Negotiation
    • Principle #15 P.R.A.C.T.I.C.E. your responses.
    • Picture what you want to do.
    • Rehearse Sequentially
    • Anticipate your worse-case scenario
    • Compartmentalize other concerns
    • Transition
    • Imagine what you will
    • Catch and correct errors
    • Enjoy
  • 21 Irrefutable Principles Of Negotiation
    • Principle #15 P.R.A.C.T.I.C.E. your responses.
    • Picture what you want to do.
    • Rehearse Sequentially
    • Anticipate your worse-case scenario
    • Compartmentalize other concerns
    • Transition
    • Imagine what you will
    • Catch and correct errors
    • Enjoy
  • 21 Irrefutable Principles Of Negotiation
    • Principle #15 P.R.A.C.T.I.C.E. your responses.
    • Picture what you want to do.
    • Rehearse Sequentially
    • Anticipate your worse-case scenario
    • Compartmentalize other concerns
    • Transition
    • Imagine what you will
    • Catch and correct errors
    • Enjoy
  • 21 Irrefutable Principles Of Negotiation
    • Principle #15 P.R.A.C.T.I.C.E. your responses.
    • Picture what you want to do.
    • Rehearse Sequentially
    • Anticipate your worse-case scenario
    • Compartmentalize other concerns
    • Transition
    • Imagine what you will
    • Catch and correct errors
    • Enjoy
  • 21 Irrefutable Principles Of Negotiation
    • Principle #15 P.R.A.C.T.I.C.E. your responses.
    • Picture what you want to do.
    • Rehearse Sequentially
    • Anticipate your worse-case scenario
    • Compartmentalize other concerns
    • Transition
    • Imagine what you will
    • Catch and correct errors
    • Enjoy
  • 21 Irrefutable Principles Of Negotiation
    • Principle #15 P.R.A.C.T.I.C.E. your responses.
    • Picture what you want to do.
    • Rehearse Sequentially
    • Anticipate your worse-case scenario
    • Compartmentalize other concerns
    • Transition
    • Imagine what you will
    • Catch and correct errors
    • Enjoy
  • 21 Irrefutable Principles Of Negotiation
    • Principle #15 P.R.A.C.T.I.C.E. your responses.
    • Picture what you want to do.
    • Rehearse Sequentially
    • Anticipate your worse-case scenario
    • Compartmentalize other concerns
    • Transition
    • Imagine what you will
    • Catch and correct errors
    • Enjoy
  • 21 Irrefutable Principles Of Negotiation
    • Principle #15 P.R.A.C.T.I.C.E. your responses.
    • Picture what you want to do.
    • Rehearse Sequentially
    • Anticipate your worse-case scenario
    • Compartmentalize other concerns
    • Transition
    • Imagine what you will
    • Catch and correct errors
    • Enjoy
  • 21 Irrefutable Principles Of Negotiation
    • Principle #16
    • Silence can be golden.
    • Knowing when to be quiet. It is an Art.
  • 21 Irrefutable Principles Of Negotiation
    • The Game is:
  • Shark Tank – Business Owners
    • You own ABC Plastics, a company that makes plastic widgets from recycled containers.
    • You have orders for $35,000 you can not fill.
    • You need $10,000 to expand your factory to meet the demand.
    • Your company worth $100,000
  • Shark Tank - Venture Capital Investors
    • The plastics market is about to explode!!
    • ABC Plastics could be worth 2 Million.
  • 21 Irrefutable Principles Of Negotiation
    • Principle #17
    • The offer is too low? Increase your value.
    • Be a problem solver
    • Be a team player
    • Be proactive
  • 21 Irrefutable Principles Of Negotiation
    • Principle #18, 19
    • 18. Knowing When to
    • Say Yes.
    • 19. Knowing When to
    • Say No.
  • 21 Irrefutable Principles Of Negotiation
    • Principle #20
    • Don't make assumptions when working through 3 rd Parties.
  • 21 Irrefutable Principles Of Negotiation
    • Principle #21
    • Never be the first to name a salary.
  • Conclusion
    • Negotiation is win-win
    • Always negotiate with the decision maker
    • Develop a winners mentality
    • Focus inward first
  • Questions & Answers
  • Resources
    • Babcock, Linda and Sara Laschever. Women Don’t Ask: Negotiation and the Gender Divide. Princeton, NJ: Princeton UP, 2003
    • Catapult Program - www.wgfswpa.org/section_activities/catapult.htm
    • Ayres, I., & Siegelman, P. (1995). Race and gender discrimination in bargaining for a new car. American Economic Review, 85, 304–321.
    • Gerhart, B., & Rynes, S. (1991). Determinants and consequences of salary negotiations by male and female MBA graduates. Journal of Applied Psychology, 76, 256–262.