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November 7, 2012

Negotiation, a must with Job offer.

Negotiation is an essential art which we all need to work on; more so when we want to make sure we end up with a job offer worth talking about. Why it is important, well for starters if the salary you start with is on the lower side of the industry standard, more time and effort would go in catching up. While we are at it, we might take into account the pitfalls we would need to avoid. Not negotiating and accepting the first offer that comes through is the first mistake one ought to avoid.


Here is a checklist before you get to the negotiation mode:


Be Prepared: You have been through the multiple rounds of selection and have been called in for the final round, it is better you go prepared. Salary expectation question would definitely pop up and you should be ready to come up with a salary bracket. The range would be keeping in mind your last drawn, industry average, the figure which would take care of your finances and give you room for some breather as well.


Don’t Rush: Quote an expectation only when enquired. It is not a good strategy to rush into salary negotiations when the other party has not even made an offer.


Know Thyself: Before you convince the prospective employer about your competence, find out for yourself what your SWOT is. That is a practical run down on your strengths, weaknesses, opportunities and threats. This would help you gauze the value you could add and make the association beneficial for the organization.


Know your prospective Employer: Many factors contribute in making a job worthy enough, salary is just a part with things like the organizational objective, growth prospects, the key responsibilities and how your professional goals align with the organizations. It is hence a prerequisite that you research well about the company and the role and responsibilities in question.


Benefits it would bring: A job offer is not simply about the monetary part it also includes the benefits like paid leave, subsidized meals, medical insurance, travel allowance, conveyance reimbursement, retirement contribution. Factor in these benefits and do a mental mathematics to come to the value the job offer puts on the table.


Time to Respond: It is advisable that you take time to ponder over the job and get back to the HR of the company. But do not overdo it, do not keep them waiting as the requirements are often urgent and they would go to the next best candidate with an offer.


Too quick to decline: When the offer does not match with your expectation don’t let go. Try to convince the HR, citing the value you can bring and have them reconsider the offer. However if the feasibility of reconsideration is less, close the dialogue with a positive note thanking the company for its time.


Negotiation is a part of the talent acquisition process for the organization and an important step for those looking out for a change. Not all negotiations end up with the prospective employer joining in but it need not leave a bitter taste in the mouth. It is advisable to close on a positive note and not burn the bridges.

Tags : Negotiation, salary discussion, revision, compensation, discussion, offer letter, new job

About Nivedita

Nivedita has almost six years of experience in the HR domain. In her current role with an IT company, she manages the talent acquisition and talent management initiatives of the organization. She has been honored a Master’s degree in Business Administration with a specialization in Human Resources. She began her career in 2005 and has been working in the different domains of Human Resources ever since.