Importance of Negotiation in Corporates
Negotiation is nothing but a discussion among individuals to find out an alternative which takes into account the interest of all and nobody is at loss. In a win- win negotiation people try their level best to come to a solution where every one is benefited and no body is at loss. Negotiation is essential in corporates to avoid conflicts and improve the relations among the employees. Dont be too rigid and adamant in the office.
Let us understand how negotiation is important at the work place:
The process of negotiation starts the moment an employee gets a selection call from an organization. It is essential that the individual responsible for hiring employees negotiates well with the candidate and offers him the best salary. Every organization runs for earning profits and thus the HR Professional must try to make the person join at the lowest possible salary but make sure you do not offer him anything less than his previous salary. He will never be interested to join. Even if he joins, he will not take his work seriously and the results would be zero. Discussions are important. Make him realize that money is not the only criteria for selecting a job. Other things like ones job responsibilities, job security as well as the brand name should also be considered.
The negotiation style plays an important role in corporates. Do not offer anything exceptionally high as it would again create a problem among the existing employees. Ensure that you are little tactful and do flash your trillion dollar smile. It helps. No way can you annoy the individual.
Negotiation is also important when you are dealing with vendors. An organization needs money to survive and take care of the employees as well. It cant afford to spend money as it is. A single penny saved will help you and the organization later. The person dealing with the external parties must be a good negotiator else he will end up paying more amount than required. Always sit with the vendor and quote a price little lower than you intend to pay. He will definitely ask you to increase it and probably then you will reach to a figure well within your organizations budget. Dont be rude with your vendor but be very confident and convincing. Remember you are not dealing with him just once; you need to maintain a healthy relationship with him for future business as well. Try to convince the vendor at such a rate which would benefit your organization and save money. Quote realistic figures and do take care of the vendors profits as well. Try your level best to close the deal.
One should never accept terms and conditions verbally, its always better to have something in black and white probably a contract as it is more reliable. The terms and conditions must be discussed on an open forum and should be signed in presence of both the parties so that no body backs out later.
One should also learn to negotiate with ones superiors. Remember negotiation does not mean you have to shout on others, you need to be polite. Dont accept responsibilities just because your boss wants it. If you are not comfortable with any role, its better to decline it, rather than accepting something you are not familiar with and losing interest later. After all there are other employees as well, they can accept the same and you can do something else which suits your profile. If you know you will not be able to submit the project within the stipulated time frame, tell your boss. Never hide things from him. Be straightforward. If you want to go for a leave, try to negotiate with him that probably you will attend office the coming weekend or sit for some more time in the coming days to compensate for the loss. Be a little patient.
Conflict must be avoided at the work place as it only leads to negativity all around. Negotiations help to reduce conflicts at the work place. Conflicts arise when individuals are too rigid and are just not willing to compromise with each other. Negotiations help in finding an alternative which benefits all.
Let us understand the importance of negotiation in corporates with the help of a simple example:
Ted was working with a leading organization. He was a smart negotiator. He always negotiated well with his superiors as well as his fellow workers and thus a enjoyed his work. He only accepted those responsibilities he knew he was capable of doing. No doubts his work was error free, and he was his bosss favourite. He was always well informed before going for any negotiation with vendors, never lost his temper and always closed the deal in favour of the organization. Good negotiation skills helped Ted be the most appreciated employee among all.
|❮ Previous Article||Next Article ❯|
About the Author(s)
MSG team comprises experienced faculty and professionals who develop the content for the portal. We collectively refer to our team as - MSG Experts. To Know more, click on About Us.
- Negotiation - Introduction
- Models of Negotiation
- Types of Negotiation in Corporates
- Preparing for Win Win Negotiation
- Importance of Negotiation in Corporates
- Importance of Negotiation in Daily Life
- Negotiation Skills
- Negotiation Techniques
- Challenges for an Effective Negotiation
- Role of Communication in Negotiation
- Role of Personality in Negotiation
- Role of Emotions in Negotiation
- Tips for a Successful Negotiation
- Salary Negotiation