We are in an economic downturn. The signs are pretty straightforward. Recession sounds like a new trend. In fact, it is one of the most trending topics. It’s happening to the high profiled employees as well as to low wages; there is no gender or racial differences when recession calls knock on the window.
There is not even one day pass by without thinking about the future of our jobs. We go to bed with the certainty that, Yes, I have a job, and I need to finish my pending tasks.
Well, Blessed are those who are still having regular monthly income;
It’s a regular occurrence on these days that people have to go for a pay cut while still hangs on the same job in the form of Reduced and Staggering working hours, or straight forward pay cut with no additional perks such as bonus, appreciation, performance.
Either way, we are doomed and under mounting pressure to keep our job, to show the company that we are still valuable enough, underlined with a begging line “Please don’t let me go at this point, I served you well all this while.”
With the increased number of jobseekers, every company or Hiring officials have an advantage. The Hiring process may look long and dull due to the number of resumes received to wet through.
Every job seeker believes that Hiring officials are in a good negotiation position; hence a pay cut is inevitable while some believe there is no reason for a pay cut. Here is what Kwame Christian is giving you an insight into the art of negotiation.
1. Research on your Salary Range
Evaluate yourself and understand the market value you have at this moment. Chances are many other people applying for the same position, probably skillful than you. So do your thorough research to get an idea of the salary patterns on the job you are offered.
Also, You should bring yourself to analyze the events of what if’s. What if you don’t get this job? What if Hiring officials ask for a pay cut? What if there are others skilled than you? What if the survival rate if you are not going for this job?
Understanding these bottom lines will put you in a better position to make a choice and a decision. Christian also said that its good to project a longterm insight on the choices you are making now.
Sometimes giving yourself that five-year perspective gives you the distance you need.
2. Try not to project a number on the table early
Setting a number on the table too early is equivalent to driving off your hiring officials from their decision making process. They would just stamp you with a Money-minded person who doesn’t see any value in the job offered.
Christian says that if you are forced to give a number, then provide a range from your research. That’s is why point 1. Research on your Salary Range is an essential step in the negotiation process. Neither here Nor there.
And also, it’s good to avoid disclosing your salary history and other benefits. You might be doing it for a reasonable projection, but it may reciprocate with negative results.
Be Aggressive and Reasonable at the same time.
3. Strategically, Wisefully Customize your wordings
Appreciate on What you have offered but don’t wear off the discussion by using uncertain words. Respond to your hiring officials as if you are happy with their offerings. The bottom line is, maybe you are not, but you don’t have to project it.
This is why point 2. Try not to project a number on the table early, as important as point 1. Research on your Salary Range. The number you are putting on the table should be from legitimate sources.
Bear in mind, hiring people; they owe you nothing that does not mean you are at their mercy. Christian said that it’s essential to show your appreciation but be extremely careful with the next few words you choose.
What they are hearing is you appreciate it, but you don’t appreciate it.
4. Acknowledge the difficult reality
The economic downturn is real, and its a reality. We should not pretend as if nothing is going on, but everything is fine. Instead, acknowledge the truth.
If your hiring officials are giving you a low offer on the table sighting downturn as a reason, then please don’t brush it aside; it’s causing your credibility.
Christian said it’s essential to accept the real concern. Once after you do, you may propose or explain how you can help the company to overcome the current situations.
What we should do is acknowledge that and say it’s a great point and valid point.
5. It’s not all about money but be creative enough
Both you and Hiring officials have reached an exhausted point where you may not be able to negotiate further on the monetary piece. This is the time you should kickstart your creativity and pay attention to other aspects of the work, such as health and employee benefits.
Christain said that its important to address those potential benefits, especially on the flexible work schedules, job title, and continuing education opportunities.
Apart from that, it’s also possible to get into a pre-negotiation stage, The hypothetical metrics, and its curvey points where the company can increase your salary.
Don’t limit your negotiation skills to conversations about your salary, Be more targeted, and use it day-to-day.