12 Killer Salary Negotiation Tips, a review of a Wharton professor’s new book, Getting More

May 23rd, 2011 by lewis

The Crown Business PR team sent me Stuart Diamond’s latest book, Getting More.  I loved it.  It’s one of the top three books I’ve read this year.  Diamond is a highly sought-after negotiations professor at Wharton.  His book details a 12 step approach to negotiations. The author also recounts hundreds of personal and third-party anecdotes from over 30,000 students who have had success using the Getting More negotiations framework.  Diamond gets credit for infusing a new approach to negotiations, especially around standards-based negotiation and acknowledging how emotions play a role in negotiations.  I’ve read several negotiations books over the years, and Getting More deserves a spot next to Fisher and Ury’s venerable negotiations classic, Getting to Yes.

For those of you who are negotiating a job offer, keep Diamond’s 12 negotiations tips in mind, which I’ve summarized below.

Set Your Goals

Focus on your goals. Many negotiators focus on the wrong goals. Sometimes they try to get even or overemphasize a tactic which many not further their goals (e.g. build the relationship or shoot for win-win scenarios). Always focus on moves that get you closer to that goal.

It’s About Them

To negotiate effectively, you need to know who you are negotiating with.  What are their perceptions (e.g. “the picture in their head”), needs, and how do they make commitments?  Who are the key influencers in the decision?

Make Emotional Payments

People are emotional, and emotional people can’t listen. When they can’t listen, they can’t be persuaded. Use empathy, apologies, and valuing them to get back into a state where they can listen and be persuaded.

Every Situation is Different

There’s no one-size-fits-all negotiations approach. The key is to understand what they are thinking or feeling by asking “Tell me more.” By better understanding the picture in their heads, you can better persuade them.

Incremental is Best

Many poor negotiators ask for too much at once. That scares people who don’t want to take too much risk. Make small steps instead. It builds trust.

Trade Things You Value Unequally

Nobody values things the same way. Trade off items that one party values but the other does not. For example, take on holiday work for more non-holiday vacation.

Find Their Standards

People rarely wish to be inconsistent with their personal or corporate values and policies.  Find out what those policies are and precedents where exceptions are made. Use those values, policies, and precedents to get what you want.

Be Transparent and Constructive, Not Manipulative

The other party will know when you are trying to deceive or manipulate them, and it will hurt your credibility. Be honest and straightforward. Be yourself.

Always Communicate, State the Obvious, Frame the Vision

Poor communication is the reason why many negotiations fail. Make the effort to state hidden/unclear assumptions and objectives.

Find the Real Problem and Make It an Opportunity

The obvious problem may not actually be the real problem. You’ll have to probe and put yourself in their shoes to find out. You’ll have to ask yourself why the other party is acting the way they are.

Embrace Differences

Minimizing differences – whether it’s around countries, culture, or companies – will help produce trust and better agreements.

Prepare, Prepare, Prepare

Preparation key. Decide on the right strategy and use the right negotiation tools.


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One Response to “12 Killer Salary Negotiation Tips, a review of a Wharton professor’s new book, Getting More”

  1. June 03, 2011 at 12:24 am, Richa Kumar said:

    Nice article.. Negotiating for salary has never been an easy job. There shoots a question in the interview room and leaves most of the candidates nervous. That dreadful question is “What salary are you expecting from us?” or “What are your expectations in terms of your salary package?” This question not only leaves the inexperienced candidates nervous but even the experienced ones confused on what must be their answer. If the approach is right things will fall into right places. There are two approaches that could be adopted. They are- http://richakumar.wordpress.com/2011/06/03/salary-negotiation-now-made-easy/

    Reply

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