Today was a new Boreas workshop: ‘Negotiating Basics’ facilitated by Margaret Anderson Kelliher, President and CEO of the Minnesota High Tech Association and former speaker of the Minnesota House of Representatives. It was a fantastic workshop and as one who tried two times to negotiate a higher salary (for my current library position and former library position – only to be told a very firm NO on salary negotiations both times), it was a real eye opener. The big take home lesson of the day: do your homework on salaries and benefits. You can negotiate a lot of different things, such as cars/auto allowance, vacation time, bonuses, continuing education, flex time, working from home, telecommuting, immigration, trailing spouse assistance, health care/insurance, dependent support, 401k matches/retirement, paid parental leave, supervising people, travel requirements/rules, clubs/memberships/entertainment, concierge services, review schedule and date, student debt, bringing in seniority/previous experience, gym membership/wellness benefits, child care, moving expenses, sabbatical, delaying start date, cell phone benefits, office space, transit benefits/parking, hours/start time, lunch breaks/food delivery, pets at work, title of job, severance agreement, org chart placement, tax rate support/property taxes, adoption assistance, etc. WOW! Who knew!
Negotiation is 80% research and 20% negotiation! Information is the key. Do your research on how much the job pays and its benefits. Research is based on economics and psychology. Always take at least 24 hours to think about any job offer and always speak to someone in benefits. Get offers in writing!!! Most people will leave money on the table due to their bad negotiating, especially women. Avoid the traps of leaving money on the table, settling for too little, and settling for terms that are worst than their current situation. Be very careful about listing salary ranges on job applications. BATNA (Best ALTERNATIVE TO a negotiated agreement) – your key source of power is your ability to walk away. Do not show your power, your BATNA. Negotiating is about resources (money, people, and jobs), building relationships, enhancing your reputation, getting people to trust you, and peace of mind and for organizations its about building the brand, positive press, enhancing the reputation of the organization, profitability, and value building.
Sources for more negotiating: Harvard University Program on Negotiation (PON) http://www.pon.harvard.edu/; ‘Getting to Yes: Negotiating Agreement Without Giving In’ by Roger Fisher, William Ury and Bruce Patton; ‘Difficult Conversations: How to Discuss What Matters Most’ by Douglas Stone, Roger Fisher, Bruce Patton, and Sheila Heen; ‘Beyond Reason: Using Emotions as You Negotiate’ by Roger Fisher and Daniel Shapiro; and ‘Ask For It: How Women Can Use Negotiation to Get What They Really Want’ by Linda Babcock and Sara Laschever.
There was also an art exhibit “SUSTAINABLE ACTS: MOTHER EARTH’S EMBRACE” opening today at INSTITUTE ON THE ENVIRONMENT (IonE).