Negotiating with your supervisor can be intimidating.  In fact, it can be one of the most challenging types of negotiation in the workplace.  It can be even more daunting when you are asking for something that is important to you such as a pay raise, time off, or flexible scheduling.  Unlike negotiating with clients, negotiating with your supervisor is different because your relationship with them can have an impact on your career.  Therefore, it is important to keep a few important things in mind when negotiating with a supervisor so you can achieve your objectives while also maintaining a good relationship with your boss. 

1. You Have to Be Flexible

You obviously enter into a negotiation with your supervisor because there is something you want.  However, there might be times when your boss has real constraints and cannot give you what you want.  If the answer is “no,” it is important to remember that there might be a plausible reason.  It might be that your supervisor thinks you are worthy of a promotion but cannot do it right away.  In these instances, you should be flexible and try to come up with another solution for the time being.  For example, if your supervisor cannot promote you right away, perhaps he/she can give you a higher salary until the promotion is possible.  When you show that you are willing to be flexible, your supervisor will take notice and is more likely to present opportunities to you in the future. 

• Control Your Emotions

Whenever you enter into a negotiation you must remember to leave your emotions at the door.  No matter how much you think you deserve a raise or how hard you have worked for that promotion, the fact is you will get ahead by being rational.  This means you need to lead with facts instead of emotions.  Back up your points with concrete data and examples.  If you are asking for a raise, for example, talk to your boss about your accomplishments and projects you have completed that make you worthy of a raise.  It is important to remain as neutral as possible and stick to the issues rather than your feelings.

• Timing is Everything

When you are going to negotiate with your supervisor be strategic about your timing.  Approach your boss when you know the time is right.  For example, you wouldn’t want to walk into their office right after they got done dealing with a bad situation.  Likewise, you don’t want to approach them at the end of the day on a Friday.  Choose a time that is ideal and also try to choose a time that coincides with a successful project that you have just completed.

• You Need to Listen

All too often we enter into a negotiation so determined to get what we want that we forget there are two sides to every situation.  Just as you want your supervisor to hear your perspective, you also have to listen to their thoughts with an open mind.  If your boss says something that you don’t agree with, don’t get defensive right away.  Instead, try putting yourself in their shoes in order to understand their opinion.  Active listening will build respect and foster mutual understanding. 

• You Need to Come Prepared

Taking the time to jot down your talking points is very important before a negotiation with your supervisor.  Chances are you are going to be nervous and your nerves can cause you to forget everything you planned to say.  Planning ahead will also make you appear more confident during the negotiation.  It can also be helpful to rehearse the negotiation with a friend to get their perspective on how your points come across.  Remember that you don’t want the negotiation to feel memorized, but planning and preparation can help you recall important facts when you are stressed.

The relationship between a manager and subordinate plays a critical role in the success of the business.  Successful managers work to bring out the best in the people who work for them. While the relationship can be friendly, it is also the duty of the manager to make sure their subordinate is adequately performing the tasks assigned to them.  This means it is important for managers to handle negotiations with their subordinates in a professional and effective manner.  Here are a few tips for negotiating with a subordinate in a way that reflects mutual respect while also catering to the needs of the company. 

1. Don’t Play the Power Card

It’s no secret that it can be very intimidating for a subordinate to negotiate with their boss.  However, this doesn’t mean that the manager gets a free pass to abuse their power.  It can be very easy for managers to use their authority to sway the negotiation.  After all, they are the ones with the power to accept or deny the request.  When managers abuse their power, it creates an unhealthy relationship with subordinates and will directly affect employee morale.  Therefore, managers need to respect their subordinates by listening to them with an open mind.

• Clarify Expectations

If your subordinate comes to you with a negotiation such as a pay raise or promotion and you are not going to give them what they want, it is important to explain why.  Instead of just saying “no” managers should give a plausible reason for their answer.  This is an opportunity to clarify expectations for the employee and let them know exactly what they need to do to earn that pay raise or promotion.  It can be used as a teaching opportunity for the employee.

• Listen

It has been said time and time again but listening is such an important part of any negotiation.  This is especially true with a manager/subordinate relationship.  When managers listen to their employees, it demonstrates mutual respect and understanding.  Instead of getting defensive or immediately telling the employee “no,” a manager should hear them out and give them an opportunity to explain their points.  Employees truly value a manager who is willing to listen to them and let their voices be heard.

• Lead by Example

Negotiating is an important business skill and if you want your employees to become better negotiators, there is no better way to encourage that than leading them with a good example.  This means listening to what your employee has to say, backing up your points with credible facts, and offering a flexible solution.  Your subordinates will not only appreciate your willingness to hear them out, but they will be getting firsthand experience with how a proper negotiation should take place.

There was once a time when new hires negotiated salary alone or even just accepted whatever was offered to them.  With today’s competitive job market, however, applicants are more confident about asking for what they want- including higher salaries and a better employee benefits package.  The fact is millennials are motivated by more than just money.  They understand the importance of negotiating for other benefits and they aren’t afraid to do it.  But how exactly do you negotiate for better benefits and how far can you push it?  Here are some tips to help you negotiate a better benefits package.

Health Coverage

It’s unlikely that you will be able to negotiate a better rate within the company health care plan, but that doesn’t mean you can’t still negotiate health coverage.  If you already have health coverage through your spouse, for example, you could try to negotiate a higher salary if you choose to forego the insurance plan at work.  Hiring managers might actually be willing to negotiate with you because the cost of offering insurance to employees can be very expensive. 

Bonuses and Commission

You might not be able to increase your base salary but you can up the ante by asking your employer about the possibility of earning a bonus based on performance.   If the company offers a 401(k) plan, consider negotiating for matching funds or additional annual contributions.  No matter what you negotiate, be sure to get the details of the bonuses or commission in writing so you can be clear about the expectations.

Time Off

This is one part of the employee benefits package that might be more negotiable than other parts.  Most employees are given a standard 2 weeks of vacation but you could negotiate an extra week right from the start.  If your boss isn’t willing to give you extra time right away, you could negotiate for your time to accrue more quickly than they normally would.  A third option would be to request unpaid time off from time to time.

Flexible Work Hours

One of the best perks to have in any employee benefits package is the option to have a flexible work schedule.  Working from home once or twice a week or coming in an hour later each day might give you the flexibility you need to get kids to and from school. When you have a little more flexibility it can improve morale, save time on commuting to work, and allow you to be more productive. 

Continuing Education

Another option that can be negotiated into a benefits package is the option to enroll in continuing education classes.  You might ask if the employer is willing to provide financial support for obtaining certification or if they would be willing to provide training that would benefit you and the organization. 

The most important thing to remember when negotiating a benefits package is to make sure that any agreements or adjustments are clearly outlined in your contract or offer letter.  It is easy to forget the specifics of what was said in a meeting and miscommunication can also cause issues so be sure all details of your employee benefits package are in writing.  

Everybody wants more time off, but what most people don’t realize is that you can negotiate for more paid vacation just as you would a pay raise.  If you are reasonable with your request and you can prove your worth to the company it is likely that your boss will consider your request.  If you want to negotiate for more vacation, you need to be strategic about the timing of your request.  Here are a few times that are most ideal for negotiating additional vacation.

During the Hiring Process

While there is no wrong time to negotiate for more vacation days, it tends to get harder if you have been at your job for a while.  Your manager has been able to offer you this vacation package for a period of time with no problems and might be less likely to reconsider it.  On the other hand, if you negotiate for more vacation right from the start, you tend to have a little more power.  When a company has decided that they want to hire you and they are in the process of enticing you, they are more open to accommodating your requests.

During a Performance Review

If you are trying to negotiate more vacation time in your current job, it makes sense to do it during a performance review or evaluation.  This provides you with a natural opening to the conversation where you and your boss are already reflecting on and discussing your performance.  This is an ideal time to bring up any concerns you might have including your desire for more vacation time.  Use your performance review as an opportunity to show your value to the company and ask to be rewarded with a few extra vacation days.

Right After You Successfully Completed a Project

It might be that your annual performance review isn’t for another six months but you don’t want to wait to ask for more vacation time.  In this case, it is important to time the negotiation right.  Wait until right after you have successfully completed a big project and then go to your boss with the request.  Bring evidence to support your achievements and be prepared to prove your value to the company.  Your boss is likely to be pleased with the recent project you have completed and might be more open to negotiating extra vacation time as a reward for a job well done.  

Anytime You Have Leverage

The best time to negotiate anything is when you have leverage in the discussion.  You have the most leverage when your manager sees you as a valuable asset to the company.  This is one reason why it is always best to ask for more vacation time right from the start during the hiring process.  If the manager already sees you in the job, they are more likely to negotiate benefits to entice you.  Likewise, if you have been performing well and exceeding expectations at work, your manager will see just how much value you bring to the company and might be willing to show their appreciation and dedication to you by giving you more vacation time.    In any case, more vacation time will not just be given to you.  You have to ask for it.  Therefore, wait until the time as right and don’t hesitate to negotiate for additional time off.

How to Be the Best Negotiator- Knowing the Needs and Wants of Your Competitor

In today’s competitive business climate, the ability to negotiate can mean the difference between success and failure. It can have a huge impact on your career and can help you earn more money and a higher title.  For this reason, negotiation skills are a must for anyone looking to achieve their professional goals.  While there is no denying the importance of negotiation, this begs the question, “Just how good are your negotiation skills?”  With the right techniques and plenty of practice, you too can become a successful negotiator.  Here are a few tips for strengthening your negotiation skills.

Stop Talking and Start Listening

Any experienced negotiator will tell you that listening is the key to closing the deal; however, many novice negotiators are terrible listeners.  Unfortunately they spend so much time talking about themselves and their product that they never give their counterpart a chance to talk.  Negotiation is all about doing some detective work.  You should ask a few probing questions and then close your mouth.  The other party will tell you everything you need to know-all you have to do is listen.  A good rule of thumb to follow is the 70/30 rule- listen 70% of the time and talk only 30% of the time.  Encourage the other party to talk by asking plenty of open-ended questions and listen carefully to their answers.  This will help you to find out exactly what they need and want.

Do Your Homework

A large part of the negotiation happens before you ever even step foot inside the meeting.  It is imperative that you gather as much pertinent information as possible prior to the negotiation.  This is vital to the success of the negotiation.  You need to find the answers to a few important questions: What are their needs?  What options do they have? What pressures do they feel?  The more information you have about the people you are dealing with, the stronger your negotiation will be.

Focus on Their Pressures and Not Your Own

Novice negotiators have a tendency to focus on their own pressure and the reasons they need to close the deal.  However, this puts them at a great disadvantage and makes the counterpart more powerful.  Instead, focus on the pressures of the other side.  When you understand their pressure points, you are able to offer solutions to meet their needs and they will be more likely to concede.  If you feel like the other party is under pressure, this is your chance to exploit that pressure in order to close the deal.

Show the Other Side How You Can Meet their Needs

The best negotiators look at the deal from the other side’s perspective.  Instead of trying to “win” the negotiation, seek to understand the needs and wants of the other party and offer solutions that will make the other side feel satisfied.  All too often negotiations get sidetracked because both parties are only looking out for themselves.  When you start focusing on the needs of your counterpart, you begin to earn their trust and make them feel as if you are working for them.

Divorce- How to Negotiate an Amicable Split When Your Spouse is Your Business Partner

According to the National Federation of Independent Business, there are more than 1 million husband and wife teams that run a business together.  In addition to the stress of managing a professional business, these owners are also faced with the normal struggles of being married.  Unfortunately, the divorce rate in America is nearly 50% which means that some of these couples that are divorcing are the same couples who are business partners.  Divorce in itself can be messy and difficult, but add the business element and you could be facing an entirely different set of circumstances because the divorce is affecting both your personal and professional life.  How, then, can couples who were once business partners divorce amicably while splitting the assets and responsibilities associated with their business? Here are a few different ways to negotiate an amicable divorce between business partners.

Stay in the Business

While this might be the most difficult on a personal level, it could end up being the easiest and most lucrative solution from a business perspective.  If the couple can find a way to put their differences aside for the sake of the business, it might be possible for the couple to remain business partners despite the fact that they are no longer married.  Couples might find it easier to negotiate other aspects of the divorce if they don’t feel like their business and livelihood is being threatened as well.

The Buy Out

This is probably the most common occurrence in the instance of business partners who are dealing with divorce.  The spouse who has the more active role in the business will buy out the other.  For instance, if one spouse was the main person in charge while the other handled more of the administrative tasks, the business could be saved by buying out the spouse with the less active role.  In these instances, it is important to negotiate a buy-out deal that is fair for both parties.  Obviously, the spouse who is getting bought out is going to have to start over with a new career.  Therefore, the other spouse should negotiate a fair compensation package to allow their ex time to get back on their feet.  If one spouse is reluctant to be bought out, the other spouse could negotiate other aspects of the divorce to level the playing field.  For example, it might be fair to let the spouse who is getting bought out keep the house.

Enlist a Collaborative Divorce Team

A collaborative divorce is a process by which both parties use mediation and negotiations to settle their divorce.  Each party hires their own attorney and in some cases a licensed mediator.  In the instance of divorcing business partners, the divorce team would also include financial experts and business brokers who could assist the couple in sorting out the financial aspects of splitting their business.  A collaborative divorce team offers more flexibility and more options for negotiation that will help each party avoid possible landmines.  A collaborative divorce team can help both parties determine fair salaries should they choose to remain business partners.  They could also make both spouses 50-50 partners, with an agreed upon third party who acts as an arbitrator in the event of a disagreement about business decisions.  The prospect of starting over again can be daunting, and this would be an instance when the parties could benefit from a collaborative divorce approach.

Ride Sharing: Know Your Rights and Negotiate a Better B2B Experience with Uber or Lyft

Ridesharing has certainly gained popularity in recent years and the concept is widely utilized by businesses across the nation as a means for transporting employees and clients. The perks seem pretty obvious: it’s quick, convenient, and more affordable than taxis or rental cars.  Furthermore, companies like Uber and Lyft have made “hailing a ride” easier than ever with their simple to use apps.  Customers simply request a ride and within minutes their ride has arrived and can take them wherever they need to go.  Recently, Uber and Lyft have even developed a model specifically for business transportation.  Companies can request to have clients picked up from the airport, transported to hotels or events, or even schedule ways for guests to get picked up from events.  These ridesharing companies offer plenty of solutions for the transportation needs of businesses.  Here are a few things businesses can do to negotiate a better ridesharing experience for employees and clients.

Utilize Central Payment

When companies are entertaining clients, they definitely are out to impress.  What better way to impress clients than by offering them free, easy, and convenient transportation while they are in your city?  Businesses can negotiate payment methods with Uber and Lyft where the fares are charged to a company account.  This eliminates the need for the client to be reimbursed and it also allows the company to control who has access to the account. Your client’s commuting experience will be easy and enjoyable.

Eliminate Expensing for Employees

Companies want their employee to feel valued and it’s the little things that can go a long way.  When your employees are traveling, make their experience a little easier and more enjoyable by providing transportation through Uber or Lfyt.  When you utilize the business model of Uber or Lyft, you create a business account that automatically charges the company and your employee no longer has to worry about keeping up with receipts and expensing every ride.

Negotiate for Better Cars

If your company is planning to use Uber or Lyft for your next business event, don’t forget to call and try to negotiate better cars for your clients.  After all, Uber and Lyft want to impress their business customers just as much as you want to impress your clients.  You can negotiate with ride sharing companies for larger vehicles and newer vehicles to pick up your clients. You only get one chance to make a good first impression so go for the best ride available!

Take Advantage of the Perks

Companies may or may not have the ability to negotiate the actual fare of their rides, but they can negotiate the perks.  Leverage for upgraded vehicles, additional reward points, or flexible payment methods.

Lower Employee Insurance Costs

Every year the time will come when employers will be notified by their health insurance provider that insurance premiums are increasing.  What many employers in smaller to medium-sized companies don’t realize is that those new insurance rates are negotiable.  You could end up saving yourself, your employees, and your company hundreds or even thousands of dollars by negotiating lower insurance costs.  This can have a huge impact on employee satisfaction.  Here are a few tips to help you negotiate a lower insurance rate.

Be Familiar with Your Contract

Chances are you have signed some sort of contract or agreement with your insurance provider.  You can’t begin a negotiation without knowing what you may have previously agreed to.  Familiarize yourself with the duration of the contract, whether or not there is an agreed upon premium increase rate, and how much notice you need to give if you choose not to renew your contract.

Have the Right Information at Hand

When you begin negotiating, it will be helpful to be aware of any changes in your workplace that could affect these negotiations.  For example, have the number of claims placed by your staff increased or decreased over the last year?  Has the average age of your employees changed?  Is your company planning to hire more people, thus becoming more lucrative to insurance companies?  Have your employees had babies, suffered major injuries requiring surgery, had serious health problems, or any other ailment that might have affected insurance premiums?  The more information you can provide, the better your chances of negotiating a lower rate.

Get Ahead of the Game

Don’t wait for your insurance provider to reach out to you to discuss next year’s rates.  Rather, about 2-3 months prior to when your non-renewal notice is due, contact your provider and inquire about rates for next year.  If you wait until the non-renewal date has passed, you will lose much of your leverage.  However, reaching out in advance will give you a better chance of getting a lower rate.  If your insurance provider is unable to give you that information in advance, politely tell them that you are going to be shopping around for the best deal.  If they do provide you with the rate increase, compare it to the estimated U.S. average.  If these averages are lower, you have yet another argument on your side.

Know What You’re Willing to Take

Before you begin negotiating, you need to know what you would be willing to accept.  Are you going to take whatever you can get or are you willing to shop around and compare providers?  If you are interested in comparing, you should reach out to a few healthcare providers to get quotes. If you are unable to negotiate a lower rate, you can always consider asking the provider to lock in that same rate for next year so you won’t be hit with higher premiums again.

Be Careful- Negotiating a Balance with Your Business’s Usage of Social Media

These days many business owners understand that social media is a significant marketing tool.  In fact, about 82% of small business owners are using sites like Facebook, Twitter, LinkedIn, Pinterest, and Instagram to help grow their business.  Social media provides businesses with more exposure than traditional marketing and provides businesses with an opportunity to build relationships with their clients.  It gives businesses the power to learn more about their target audience and collect feedback which can be incredibly helpful.  Furthermore, social media is really, really popular!  While there are certainly a lot of perks to integrating social media into your business’s marketing plan, business owners can’t lose sight of the value of those traditional and more personalized approaches.  Here are a few ways businesses can find that perfect balance between social media and traditional forms of marketing.

Not All Consumers Are Created Equal

As social media expands into our lives, there has been a shift from traditional marketing to digital marketing.  While the advertising climate is changing quickly, it is important for businesses to remember that there is a still a place for traditional marketing.  Not all consumers are created equal and the needs, wants, and behaviors of consumers vary.  Consumers communicate with brands both digitally and traditionally and in many cases simultaneously.  The most successful businesses are those that streamline their marketing strategy across all channels to reach every consumer.

Get to Know Your Audience

The best way to find a balance between social media and traditional marketing is by analyzing your audience.  What products or services does my audience want? What information are they looking for? What channels do they prefer to use and why?  Once you have these answers, you can cater your marketing strategies to better meet the needs of your audience.

Analyze your ROI

How much does your business spend on traditional marketing? Do you employ a full time digital marketing staff and what are those costs?  Take a closer look at the costs associated with your companies’ return on investment.  From there you can determine the overall effectiveness of your marketing strategies.

Focus on the “Big 3” of Social Media

Many businesses make the mistake of jumping all in with social media and dappling a little bit in everything.  This can stretch your social media presence too thin. Instead, focus on the “Big 3” of social media marketing: blogging, Facebook, and Twitter or LinkedIn.  You can better balance your marketing strategy when you are juggling 3 platforms as opposed to 5 or 6.  Once you’re well established in your 3 main social media platforms, you can further boost your business by incorporating digital tools such as SEO, SEM, and emails.

Use Your Marketing Strategies Simultaneously

When possible, link your digital and traditional forms of communication.  For example, use your traditional channels such as print or radio to promote your social media channels.  Likewise, encourage social media followers to contact you directly or join the conversation by offering incentives, exclusive offers, and coupons.  You can also take feedback and positive social media reviews and post them on to your website as a way to link your traditional website with your social media followers.

The days of pushing all of your content through one channel are long gone and its’ time for businesses to start finding a balance between digital and traditional marketing strategies.  You will see the greatest results and truly maximize your efforts when you integrate your marketing tools across various channels.

Negotiating salary seems daunting to many people.  Whether you are just starting out or you are looking to get a pay raise at your current job, salary negotiation can be a difficult task. While it might seem intimidating, you will have much greater success in negotiating pay if you come to the table armed with the right information and the proper mindset.

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