Example of successful salary negotiations term paper

Successful salary negotiation

Salary negotiation is extremely imperative to both employee and employer thus calling for tact, forethought, as well as, professionalism. This is so because when a new employee in an organization handles the subject carelessly, he or she is likely to lose the job offer. Therefore, this calls for all potential candidates to have needed skills in salary negotiation so that they can execute it properly thus resulting into higher pay rate (King, 1993).

Actual planning for the negotiation

Salary negotiation is a crucial process, which requires good planning. Therefore, some of the plans that individuals should conduct before the initial negotiation process entail knowing the market for the job title. This is important because there is no way one can go to buy a car without information regarding market price for that car. This implies that before walking into an interview room, the candidate should conduct sufficient research on the salary offered for that type of work. Knowing the applicable salary ranges will enable the employee to know the amount of salary he or she should request. Secondly, the applicant should research on the qualified individuals applying for the same job. If it turns out that the candidate is the only person that has required qualifications, then he or she has the power to request for more money (Chapman, 2011). Thirdly, it is important for the candidate to set up specific criteria before the negotiation process. This can be through knowing what he or she want and why, thus being able to ask for it and getting it. Fourthly, the applicant should highlight the benefits that he or she will contribute towards the nee employer, thus offering them while requesting for more money. Fifthly, the applicant should decide on the minimum salary that he or she would agree. Additionally, it is important for the applicant to decide on the alternative benefit in case the salary offer turns out not flexible. Moreover, the applicant should have sufficient information on the nature of the job he or she is applying for so that he or she can relate the salary request to the job. Finally, the applicant should ensure that the process would be fair to both parties (Dawson, 2006).

Steps during the negotiation process

Initially, the applicant should be positive during negotiation process because it is a crucial thus calling for corporation. Secondly, both the employer and applicant should view the salary negotiation process as a challenge, which plays a significant role in avoiding confrontations. Thirdly, the applicant should negotiate of the salary relating to the benefits that he will bring to the new company. This might include bringing new skills, experience together with benefits. Apart from that, the applicant should show documents proving what he or she is likely to offer to the new company. This is a significant step for an applicant to take if the employer doubts his or her skills. The applicant should have necessary plans to know, which step to take nest in case the employer rejects his or her request (King, 1993). Importantly, the applicant should always begin the salary negotiation conversation positively. This can be through thanking the company for offering him a job or the benefits that he or she intends to contribute to the company. The applicants should also be polite while asking for the requests rather than demanding. Finally, the applicant should always keep calm and professional despite the different positions that the process will take (Chapman, 2011).

Execution of salary negotiation

Finally, after salary negotiation, it is important for the applicant to ask the employer to put the salary agreement into writing in a polite manner. During this stage, the applicant should apply a tactful approach in order to avoid any feeling of distrust. Documentation of an agreement is important because agreement without writing does not exist (Dawson, 2006).

References

Chapman, J. (2011). Negotiating your salary: How to make $1, 000 a minute. Wilmette, Ill: Jack Chapman.
Dawson, R. (2006). Secrets of power salary negotiating: Inside secrets from a master negotiator. Franklin Lakes, NJ: Career Press.
King, J. A. (1993). The smart woman’s guide to interviewing and salary negotiation. Hawthorne, NJ: Career Press.