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Job offer-negotiation
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- 2. Gratitude I am sincerelythankful to my teacher at IIM Lucknow who taught me negotiation.
- 3. What are wegoing to talk today about? • Why should we negotiate job offers? • Negotiating Strategy • The most important word in Negotiations and its Power • Process of Negotiation • What does a Job offer constitute and what all can be negotiated? • With whom to Negotiate? • Some other important points (Sorry! Very Important Points)
- 4. Thoughts on shouldJob offer be negotiated and till what Level?
- 5. Why people don’tnegotiate Job offers? • Fear of losing the job offer • Incorrect valuation of own skills • I might sound greedy!
- 6. Strangely, this iswhat the Recruiters say? • In a recent survey, more than 53% Employers, say they are willing to Negotiate Salaries. • And more than 52% say, they initially offer lower salaries to leave a room for Negotiation • If the candidate is very good, then even the Policies can be bent over (Policies are for the 98%) (Example)
- 7. So, you shouldnegotiate job offers * • You need the job, the job needs you. • Reflect on the whole hiring process. • For Recruiters, recruitment market is highly competitive. Earlier, large companies used to battle among themselves, now, they have another Pain, STARTUPS. • Lack of Quality and Employable Candidates. • But there should be a negotiating strategy and we will look into this now.
- 8. Negotiating Strategy Kind ofGoals Relational– High Importance Relational – Low Importance Substantive – High Importance Collaborative Competitive Substantive – Low Importance Accommodative Avoidance
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- 10. Process of Negotiation CLOSURENEGOTIATION PREPARATION 01 0203
- 11. Preparation • Determine yourBATNA (BATNA is the greatest source of Power) • Develop your BATNA (Get one or more job offers) • Revealing your BATNA • Do not reveal if the BATNA is poor. • Do not lie and do not sound desperate. • Do not sound it like a threat. (I really want to work Vs If you don’t raise…) • Try and Determine other people’s BATNA
- 12. Preparation • Determine whatyou are worth. There are sources available • Salary Benchmarking Websites • Network • Know what you want, there are multiple things which can be negotiated apart from Money • Work on your numbers
- 13. Issues you cannegotiate on • Salary • Joining Bonus • Joining Date • Compensation Structure • Designation • Nature of Job • Reporting Manager • Profit Sharing • Reviews
- 14. Doing the negotiation •Log-rolling • Essentials, Giveaways , Distributive • Look from point of view of future also. • First offer ( You or the company) • If the company asks you, ask whether it is an offer or collecting info • If collecting info: Give industry Average • If offer: Give a range • The first offer generally serves as an anchor
- 15. Doing the negotiation •Making a counter offer • Ideally, should be made after a couple of days, through research etc. • Express concerns as problems to be solved and not complains • Look out for non-verbal clues • And the cycle continues • Remember your negotiation strategy- avoid changing mid-way • Remember your essentials, giveaways, etc.
- 16. Case Study • Afemale was getting 30k pm as a Salary in Noida. She had to travel all the way from Gurgaon Daily. Recently her kid was born and it was getting really difficult for her to manage things considering all the travels. Through a reference, she got an opportunity to work in a startup in Gurgaon which was completely in a different domain. CEO took her interview and told we can offer maximum 30k only. If you had been that female, what you would have done for it and why?
- 17. Other Important Things •Negotiating with whom? • Thanks and Bank • Don’t burn the bridges.
- 18. Chat with me ashutosh@2pir.in,a@gargashutosh.com +919810134649 B-26, Sector-2, Noida www.2pir.in www.gargashutosh.com