Negotiation is the process of agreeing on a price or other terms between two or more parties. In business, negotiation may involve hashing out an agreement on salary, bonus, benefits, working conditions, and more.
There are a few key principles to remember when negotiating:
1) Listen attentively to your counterpart(s): Don't take anything for granted and be open to what they have to say. Let them know that you are interested in working towards an agreement. If you want to be negotiating your compensation, then you may click on this website https://splattlawyers.com.au/.
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2) Be prepared to walk away if necessary: If you can't agree on terms, don't push too hard. Sometimes it's important to save face and move on rather than get into a protracted argument.
The Different Types of Negotiations
There are three types of negotiations: positional (demand), and distributive (give and take).
Positional Negotiations: These negotiations concern who gets what, and usually results in one party getting more than they would have otherwise. One common example is a negotiation over salary.
distributive Negotiations: These negotiations involve dividing up a fixed number of resources between two or more parties. An example would be a negotiation over how much work each person will do in a project.
How to Start a Negotiation
There are a few things you can do before starting a negotiation to help ensure that you get the best compensation possible.
1. Figure out what you're worth: This is one of the most important steps in any negotiation because it will help you establish a baseline for discussion. There are many resources available to help you determine your market value, including salary surveys, industry analysis tools, and personal experience.
2. Establish baselines: Once you have an idea of what you're worth, it's important to set some reasonable and achievable goals for the negotiations.