There is more to negotiating than stating your proposed deal. Timing also plays an important role. When you negotiate can have a significant impact on the outcome of the negotiation process. Choosing the right time to negotiate can affect how alert people are, how interested they are, and how willing they are to listen to you. Not sure when the right time is? Here are four ways to know when to swoop in and ask for what you want.
Consider Negotiating When…
You Have a Written Offer in Hand
One of the biggest missteps for job seekers is playing hardball before it has been established that they are getting the job. When it comes to negotiating pay, benefits, etc, you want to follow one basic rule: wait until you have a formal offer in hand. You have more power to negotiate if you know for a fact that you are being offered the job. You also come across as greedy and a bit conceited if you start negotiating before you have even been offered the job. Once you have a formal offer in hand, you can take the time to put together a thoughtful counteroffer.
You Can Clearly Show the Value You’re Bringing In
Whether you are negotiating a salary increase or the benefits of a new job, you have to remember that your employer is focused on what you bring to the table. They aren’t concerned r with how much your bills cost or how long you have worked at the company. They care about what value you are bringing to the company. Therefore, you don’t want to begin a negotiation until you can clearly show the value you’re bringing to the organization. If you have successfully pitched the last several sales, brought a significant revenue increase to the company, or successfully managed a major project, be prepared to show your value and explain why the extra investment will be worth it to your employer.
The Timing is Prudent
If there is an important event coming up in the near future and you know you have significant value to offer regarding this event, it might be advantageous to step in and ask for that raise or promotion. If you know your employer is in a bind and is dependent upon the success of this event, you have a powerful leg to stand on if you can prove that you’re the answer they have been looking for. If you can prove that your performance will reduce their stress, then reminding them of how you can solve this impending problem might be a perfect opportunity to ask for what you want.
You Just Had a Major Success
Perhaps you exceeded your sales goal for the third month in a row or you just closed a major deal that you have been working on for months. A great time to ask for what you want is right after you have a major success. Your employer will see your value and they are more likely to give you what you want.