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1 Negotiation: Core Competency for Career and Business Success Juan I. Sanchez, Ph.D.

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Presentation on theme: "1 Negotiation: Core Competency for Career and Business Success Juan I. Sanchez, Ph.D."— Presentation transcript:

1 1 Negotiation: Core Competency for Career and Business Success Juan I. Sanchez, Ph.D.

2 2 What negotiation is not…

3 Negotiation = Gambling And what starting salary were you looking for? I’d like to start around $185,000 per year, depending on your benefits package

4 Negotiation = Gambling What would you say to a package of four weeks’ vacation, 20 paid holidays, company matching retirement up to 30 percent of your salary, and a new company car every two years…say, a brand-new BMW? Wow! Are you kidding?

5 Negotiation = Gambling Of course, but you started it!

6 Negotiation = Gimmicks or Appearances “When you are about to plead not guilty, choose a winter-white suit to highlight your innocence.” “Trump wants you on “The Apprentice.” Make sure to dress louder than the other contestants.”

7 7 What is negotiation then?

8 8 An iceberg theory of negotiation…

9 9 Negotiation as a set of gimmicks is a shallow iceberg likely to tip when the sea gets rough…

10 10 Building a deep-rooted negotiation iceberg allows you to float even in rough waters…

11 Lesson #1: Wants = Needs Wants Needs Lo Hi

12 What you think you need… What you really want… “I need an A in your class.” You want to study hard. “I need to close this deal today.” You want to focus on the negotiation. “I need Mr./Mrs. X to like me.” You want to treat others with respect.

13 Lesson #2: Do not keep score Keeping score makes it emotional: one side wins, the other loses. Keep your eyes on the ball: Looking at the scoreboard keeps you from focusing on the negotiation. You control the process, but not the outcome. Negotiation is not a game!

14 Lesson #3: Be ready to walk away losing is winningwinning is losing When you do not place yourself in a position that would require you to deliver a miracle. When your slightly higher salary makes you a top candidate for downsizing. Sometimes…

15 Lesson #4: Get them to talk Do’sDon’ts What role do you see me playing in…? What will my job title be? If I get the job, how can I help you succeed? What will be my responsibilities? What are the plans for the facility where I’ll be working? Is this facility growing? Ask open-ended & supportive questions (they reveal the other side’s needs)

16 Lesson #5: Do not hard-sell People resent not having choices (example: the choice of saying “NO”). People do not necessarily know what they want, but they don’t like you to tell them upfront. People like to find out what they want by themselves (but they’ll appreciate your helping them). (unless you detect a serious psychopathology on the other side)

17 Not everyone enjoys upfront feedback… You have been a good horse, fast, easy to ride, but you need to work on your galloping a bit…

18 Not everyone enjoys upfront feedback… I said “give me the feed-bag,” dummy, not “give me feedback”!

19 Lesson #6: Know their needs Common sources of needs Ego trips (and ego traps). Bringing “baggage” to the table. Feelings of superiority. Keeping score. “I am better than you are.” Prior victories. That’s why you don’t have “needs,” just “wants.” Needs are painful (one needs to satisfy them)

20 Lesson #7: Fit your offer to their needs My cultural background seems ideal to your needs in your _______ territory because… My familiarity with employment law will help tremendously with your________ because… Having put together a whole pay structure from scratch will help me solve your compensation problem in the _______ area because… Examples

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