You need to be conscious of your body language. Be aware of the messages you are sending. There are times when the negotiation can be a real grind. Don"t get rattled. Don"t let them see you sweat. Telegraph what you want the employer to see. If you are smiling and your palms are face up on the table, those are signs that you are open and receptive to what they are saying. If, instead, your eyebrows are furled and your fists are clenched, I have a pretty good idea what you"re thinking. Drink lots of water. No coffee or alcohol. Take frequent bathroom breaks if you need to compose yourself.
ASK FOR A LITTLE-GET A LOT
If you are negotiating an hourly wage, remember that every dollar per hour represents $2,080 per year. Most employers like to talk salary. For salaries less than $50,000, focus the employer on the dollar per hour amount. Simplify and minimize the concession you need. For example, it"s easier to get an employer to agree to an increase from $20 to $24 per hour than to get them to agree to a $48,000 salary when they budgeted $40,000. Which do you think is more palatable for the employer? Asking for $4 more per hour is nothing-$8,000 causes unnecessary headaches but it"s still $8,000.
You may also run into one of the following scenarios and need to decide in advance your course of action (I have a few suggestions): * The employer acts like they"re doing you a favor.* They appear cordial until you dig your heels in.* Someone besides your future boss is doing the negotiations.
The employer wants to strike the best deal possible. All kinds of games may get played. Disarming the employer can be as easy as turning your hands palm-up on the table and saying to them, "You look a little tense, is everything all right?" That phrase will force even the most hardened negotiator to lighten up. Try it.
NEGOTIATE WITH THE FINAL DECISION MAKER
Before you start, make sure you understand whom you"re negotiating with. Some employers use the timeshare-vacation approach. They send in the human resources manager or some junior functionary to have the preliminary discussion and isolate your hot b.u.t.tons. After several hours of discussion, they suddenly need management approval. You don"t want to discover at the last minute that your hard-fought concessions were all for naught and you"re facing a new negotiator.
If the offer has come through a headhunter, you need to understand the recruiter"s role in the negotiation. Typically, it"s in his best interest to get you as much money as possible because his compensation is tied to yours. You"d be wise to gauge your recruiter"s skill at negotiating before turning your life over. Many recruiters lack the depth of knowledge and breadth of skills necessary to negotiate a complete package. In some cases, he or she is more interested in closing the deal as quickly as possible. If this happens, the smart guerrilla remains firmly in the driver"s seat.
Use your recruiter as a sounding board and a platform to launch trial balloons. If the employer gets agitated, it"ll be with the recruiter, not you. If something goes wrong, just deny-deny-deny. The employer may step in to finish the negotiations and the recruiter will still get paid-it"s all part of the game.
CLOSING THE OFFER
Get it in writing. Keep notes during the negotiations explaining what was agreed on. Date stamp your notes. When the final draft is completed, read it closely to make certain that the final offer reflects what you"ve agreed. If years down the road you notice a discrepancy, you won"t be able to correct it. You get one shot at doing this right.
When the final deal is done, pay a lawyer to review the terminology of the contract or letter of employment for unforeseen pitfalls (e.g., noncompet.i.tion clauses that would force you to move to Alaska if you wanted to pursue your profession with another employer in the future). Employ the lawyer to read the terms and conditions for ambiguity only, not to renegotiate or add to the contract. Most lawyers are deal breakers not deal makers, and you don"t want to kill your deal.
Finally, don"t talk yourself out of a deal-know when to shut up. Once it"s done, it"s done. Move on quickly to another subject. I need to emphasize the importance of talking about anything but the deal once it"s done. Talk about the weather or the "big game." Avoid anything that sensitive people can dispute.
GUERRILLA INTELLIGENCE.
The Good, the Bad, and the Great!
Cindy Kraft
Jack and I started working together during the wind down of his CFO duties post-merger. Like many senior-level finance executives, he held a number of positions over the past 7 years and his positioning, through no fault of his own, was one of a job hopper. Added to his angst was the fact that his salary had taken numerous dives through the various moves.
Jack had set some high goals in antic.i.p.ation of accepting a new position, including compensation, corporate culture, and relocating to a specific geographic area. He was resolute in his determination to make a right right move rather than move rather than any any move. move.
Jack built 2 foundational doc.u.ments that served as the driving mechanisms in deciding whether or not to take the positions he was offered. The first doc.u.ment was value-driven. He identified his top 8 values and a.n.a.lyzed each position offered (including compensation and culture) against those values. The second doc.u.ment was a list prioritized around "must haves," "wants," and "frankly, don"t care abouts" in his next role. This was his road map for entering into serious negotiations to get what he wanted.
The "must haves" list contained items he was unwilling to negotiate-they were the items that would "make or break" the deal; the "wants" list contained items he would be willing to negotiate in order to get a "must have"; and his "don"t care abouts" were his ace in the hole. He put these items on the bargaining table and then magnanimously threw them out as he continued to negotiate in the things on his "must have" list.
Through the course of our 9-month journey, Jack received numerous offers that he turned down because they did not meet his requirements and/or his values. The decision to say no took great courage on his part as he remained firm in his desire to make the right move, not a move . . . . . . despite the search taking longer than he antic.i.p.ated. despite the search taking longer than he antic.i.p.ated.
With a clear and compelling value proposition, great patience, and hard work, Jack did indeed get his "right" job. He was able to relocate to his desired geographic location with the company paying his relocation costs as well as buying his house in this stalled housing market; ask for and receive the salary he desired, which was well above the salary from his previous position; and also obtain every one of his "must have" perks.
A compelling value proposition and the confidence to clearly articulating his value to prospects enabled Jack to powerfully negotiate his desired compensation . . . . . . and get everything he wanted. Sweet! and get everything he wanted. Sweet!
Cindy Kraft, The CFO-Coach, www.cfo-coach.com, www.linkedin.com/in/cindykraft/.
HOW TO KILL YOUR DEAL
It goes without saying that I respect your judgment-you bought this book-but I need to caution you not to overdo it. It"s easy to get caught in the euphoria of "doing the deal" when you do this type of negotiation only occasionally.
Guidelines for Successful Negotiation * Don"t immediately agree to the offer. You"ll brand yourself as "light." * Don"t immediately agree to the offer. You"ll brand yourself as "light."* Don"t give ultimatums. If you adopt a take-it-or-leave-it att.i.tude, they"ll leave it.* Don"t be negative. Seek win-win resolutions instead; it"ll disarm your opponent.* Don"t try to renegotiate a point that"s already been agreed to. Trying to reopen a discussion once it is closed brands you as immature and may jeopardize the entire deal.* Don"t let the employer renegotiate anything unless you get a major concession.* Don"t discount the help. Let recruiters do their jobs. I once had a candidate who insisted on negotiating directly with the CEO instead of through me. The client and I wanted this guy badly and he knew it, but he never once asked about compensation. In the end, the candidate left $40,000 in base salary and $200,000 in options on the table, and that was just the initial package I"d been authorized to negotiate. The options alone turned out to be worth $1.6 million.
HOW TO MAXIMIZE YOUR DEAL
Here are some rules you should remember: * Focus on the package, not the salary. Focus on the package, not the salary. Several years ago I recruited a general manager for a technology client. Our ideal candidate turned out to be unaffordable. His base salary was $60,000 above our top end. I convinced the candidate of the true potential of the technology. He took a cut in base pay in exchange for 250,000 options. It was a heck of a sales job because the options were underwater. Over a 4-year period, he drove the value of the company"s stock to $72 from $2.50, netting himself a cool $16.8 million. Several years ago I recruited a general manager for a technology client. Our ideal candidate turned out to be unaffordable. His base salary was $60,000 above our top end. I convinced the candidate of the true potential of the technology. He took a cut in base pay in exchange for 250,000 options. It was a heck of a sales job because the options were underwater. Over a 4-year period, he drove the value of the company"s stock to $72 from $2.50, netting himself a cool $16.8 million.* Only let them check your references after you"ve accepted the offer. Only let them check your references after you"ve accepted the offer. Never invest your reference"s time for an offer you don"t accept. You look foolish and the reference is less likely to help you the next time. Some people think it enhances their value, but that"s rarely the case. Any employer who"s read my booklet "Don"t Hire a Liar" will know how to cut through the smoke and mirrors and get at the truth [FREE at Never invest your reference"s time for an offer you don"t accept. You look foolish and the reference is less likely to help you the next time. Some people think it enhances their value, but that"s rarely the case. Any employer who"s read my booklet "Don"t Hire a Liar" will know how to cut through the smoke and mirrors and get at the truth [FREE at perrymartel.com]. You have more to lose because they may find areas where you"re not as strong as they thought, in which case they might lower the offer.* Measure your value against your true peers. Measure your value against your true peers. It never ceases to amaze me the number of people who undervalue their jobs. When you"re conducting your salary survey, make sure you know what the comparative person is really responsible for. t.i.tles by themselves are pretty meaningless. You may be a senior engineer responsible for 10 to 12 people while a similarly t.i.tled person is responsible only for herself. Should you be paid the same amount of money? Of course not. Make sure you appraise yourself fairly. It never ceases to amaze me the number of people who undervalue their jobs. When you"re conducting your salary survey, make sure you know what the comparative person is really responsible for. t.i.tles by themselves are pretty meaningless. You may be a senior engineer responsible for 10 to 12 people while a similarly t.i.tled person is responsible only for herself. Should you be paid the same amount of money? Of course not. Make sure you appraise yourself fairly.
URBAN MYTHS
You will get a lower salary if a professional recruiter (headhunter) is involved. Wrong. In fact the opposite is more likely. Hiring managers have 2 distinct pots of money. Your wage is treated as a salary expense. The recruiter"s fee comes out of a hiring budget. The two are completely separate.
The recruiter will receive a percentage of your salary for the first year. Wrong. If you are placed in a permanent position, the recruiter is paid whatever fee was agreed on with the employer up front. It does not come out of your check. As previously stated, it comes out of a different budget. You lose nothing.
GUERRILLA TIPS.
* Expect to compromise. There are rarely absolutes; negotiating is a give-and-take on both sides. Seek win-win resolutions.* Explore constraints and flexibilities. Seek to understand the employer"s constraints, such as salary levels or equity positions for certain positions. Likewise, know your own constraints and flexibilities.* Listen more than you speak. Listening is different from hearing. Seek to understand, not to be understood. Understand what is being said and why it is being said.* Be sensible. You are looking for a relationship that ought to be equally beneficial. Recognize their constraints and requests, as you expect them to recognize yours.* Offer solutions. It is your responsibility to offer solutions that can be the basis for negotiations. You know what you want. Don"t make them guess continuously.
SUMMARY
You"d be surprised at the lengths to which some employers will go once they believe they have found their ideal candidate. It is absolutely essential to have the employer recognize your value before you begin to negotiate. If an employer understands your value and is convinced you can do the job, then the question becomes, "How much it will take to get you?" Deal from a position of strength and you might just hear Donald Trump say, "You"re Hired!"
Chapter 14.
Ready Aye Ready
Our deepest fear is not that we are inadequate. Our deepest fear is that we are powerful beyond measure. It is our light, not our darkness, that most frightens us. We ask ourselves, who am I to be brilliant, gorgeous, talented and fabulous? Actually, who are you not to be? You are a child of G.o.d. Your playing small doesn"t serve the world. We were born to make manifest the glory of G.o.d that is within us. It"s not just in some of us; it"s in everyone. And as we let our own light shine, we unconsciously give other people permission to do the same. As we are liberated from our own fear, our presence automatically liberates others.
-MARIANNE WILLIAMSON
You are on the frontlines of a war-the war for talent. The first 100 days at your new posting will determine your success. Hold nothing back. Give your new employer all of you. Then . . . . . . keep a watchful eye on your horizon. keep a watchful eye on your horizon.
Success in the global economy requires speed, innovation, and, most importantly people-bold, pa.s.sionate, unique individuals who bring the right skills and att.i.tude to a situation at the right time. People like you.
Praill and Zander landed 18 interviews, got 11 call backs, and received 7 job offers from choice companies . . . . . . NEVER HAVING READ A NEWSPAPER, SURFED A JOB BOARD, GONE TO A NETWORKING EVENT, OR SPENT A PENNY ON CAREER COUNSELORS NEVER HAVING READ A NEWSPAPER, SURFED A JOB BOARD, GONE TO A NETWORKING EVENT, OR SPENT A PENNY ON CAREER COUNSELORS . . . . . . and the offers just keep on coming! Once you set yourself up to be found on the Web, opportunities will come to you. and the offers just keep on coming! Once you set yourself up to be found on the Web, opportunities will come to you.