Salary Negotiation. Pt. 2
Are you looking to ace your next negotiation? First, understand that technology isn’t just about gadgets—it's any advancement that changes how we operate, from ancient innovations to modern tools. Second, nail your negotiation by focusing on clear, assertive communication and staying calm under pressure. Lastly, build strong connections by empathizing with the other party and finding common ground. Remember, it’s not just about presenting your case but also understanding and engaging with the perspective of the person across the table. Master these elements to boost your negotiation success!
The Role of Technology in Different Contexts:
- The discussion highlights how technology can be broader than just digital tools and includes everyday innovations like the toilet or a book. The key point is that technology encompasses any advancement or tool that changes how things are done or improves efficiency, whether in finance, education, or marketing.
Negotiation Strategies and Tactics:
- Effective communication is emphasized as crucial during negotiations. This includes being clear, assertive, and prepared with data points. The conversation also touches on the importance of being comfortable and managing nerves, especially when discussing sensitive topics like salaries.
Building Connections and Understanding Perspectives:
- The importance of connecting with the other party during negotiations is discussed. This involves understanding and empathizing with the employer’s perspective, building trust, and making personal connections, such as finding common interests, to improve the chances of a successful negotiation outcome.
Welcome to Leadership Sovereignty, the podcast. I'm your host, Terry Baylor, along with Ralph Owens. And today, we'll discuss technology isn't just about the gadgets, how to nail your negotiations with clear, assertive communication and staying calm under pressure and how to build strong connections by empathizing with the other party and finding common ground. Enjoy the show. For sure for sure and I want to give a shameless plug for our last podcast right Because if you come into that negotiation with your story, right?
Speaker 1:Which was clearly articulate your brand?
Speaker 2:Yes.
Speaker 1:You see what I'm saying? So part of that is who you are as a person, of course. That is the essence of it. But as you continue to dig deeper into that negotiation and you start explaining your wins with people. Here's the thing too man, explain your wins with people.
Speaker 1:Dig into that. And then of course, we started talking about the business outcomes based on your wins with people and the technology. And I'm not limiting technology necessarily to zeros and ones, because Ralph and I talk quite a bit about that. But in other industries, there are technologies that you guys are using. If you're in finance, there is you know, some formula that you're using, right?
Speaker 1:That's technology at the end of the day.
Speaker 2:That's right.
Speaker 1:If you are a math teacher or if writer you're or you, you know, you're in marketing and there's some technique that you guys use in order to get more likes or some kind of methodology that you guys are using to post on some sort of interval. That's technology. It's a way that you are implementing or deploying your strategies. So I'm not limiting that term technology to I was watching something the other day and it was talking about how AI and data and all these things are gonna change the world. And it blew me away because they said they were talking about the toilet.
Speaker 1:And they said, Man, that was a great piece of technology. No one would ever consider the toilet a piece of technology. But you think about it, you go back, I don't know how long the toilet has been around, but when hit the market, they were like, Man, this is the greatest technology. Everybody wanted one. You see what I'm saying?
Speaker 1:So hopefully I didn't offend anyone there, but that is technology. If you're doing something that's changing the way business operates or changing the way how people live or changing the way something is executed.
Speaker 2:So I
Speaker 1:just want to be very clear on that.
Speaker 2:Just to add to that as another example, because I remember when I first heard this, had that same epiphany moment you just had. Do you realize that a book is a form of technology? Wow. Wow. Think about the world before we had books.
Speaker 1:Yes.
Speaker 2:It was all stories that were told from one person to the other.
Speaker 1:Wow.
Speaker 2:I mean that changed the whole world.
Speaker 1:Yes, a book changed the whole world right because you had to because it was written on it was on stones and pieces
Speaker 2:of Dead Sea Scrolls Yeah. Stuff like Yeah. And then the printing machine, right? You can start mass printing. Right?
Speaker 1:Yes.
Speaker 2:Yeah. No. That's good. That's real good. That's real good.
Speaker 2:But yeah, yeah, yeah. So being prepared to present a strong case, you know, with those data points ready to go. So, so let's, let's go into, part two, some negotiation tactics. The first one being effective communication. Right?
Speaker 2:To Terry's point discussing the importance of that clearing the circuit, communication. Right? You wanna be ready to communicate at the very highest level when you're sitting across from that other person across the table. And then, you want to do the next one Terry?
Speaker 1:Yeah. And so I want to just, you know, piggyback on that. Man, be comfortable. Be at peace.
Speaker 2:Yes.
Speaker 1:Right. Because there's an energy that's going to come off. Right. If you're comfortable with talking about quite honestly, comfortable about talking about salaries, right? Because as a, I have to be very transparent.
Speaker 1:I remember when I was a first time manager and I had to negotiate salaries with someone that I was looking to hire, I was nervous about it because being on that side of the table, I had to put on a different hat, man. Because now I was the goalie. I'm not trying to score, I'm trying to keep you from score. This sort of speak, right? Because there's a raise that we're working at.
Speaker 2:That's right.
Speaker 1:Working with and understand this right, understand this. There is a budget that that leader is working with. Is not carte blanche. There's a budget. And so with that budget, we're looking at all the talent that we are working with.
Speaker 1:And it took me a few years to get comfortable with that side, being on that side of the table because I had to take off my employee hat and put on my employer hat. Because my employee side of me was like, Hey, you know what? I wanna get this person everything that I can. Additionally, though, I had to also manage my budget.
Speaker 2:And
Speaker 1:meaning that not just manage my budget today, but I have to manage my budget if this person stays here five years. And on average, here's another great piece of information that you need to know. On average, you're gonna get around 3% every year.
Speaker 2:As an increase.
Speaker 1:As an increase. Correct. And that's the top 3% is the top. Now, if you're killing it, you might get 3.5%, 4%. But on average, it's 3%.
Speaker 1:So again, if someone has negotiated and we landed on a $100,000 then next year that's going to be $103,000 And so that's something that I have to be cognizant of. And so just having to balance that.
Speaker 2:Yeah, absolutely. So it kind of brings something to mind too. So I love to ask this question to people. If you had to hire somebody and both candidates had the exact same experience, both come from an ivy league school, years of, technical experience in that field presented very well on time studious all of the things they checked all the boxes. How are you going to decide who you're going to pick?
Speaker 2:It's the person you like the best.
Speaker 1:Oh yeah, no doubt.
Speaker 2:So you want to come into these negotiation meetings connecting with the person. Right. I've heard a person say it this way. They were talking about this specific CEO that they had to interview with and they wanted to work with. They did research on this person to see what college they went to.
Speaker 2:Knowing that nine times out of 10, they're gonna be a fan of the college sports team that they that they of the team that they went to school with.
Speaker 1:That's good.
Speaker 2:So so they're sure to bring that up in conversation. Oh, your your sports team won their conference last year. Were you at the game? Oh, yeah. Yeah.
Speaker 2:I'm at I got season tickets. I'm at guess what? You just made a connection with that person. Right? Versus the other person doesn't even know who the college team is.
Speaker 2:Guess who you think they're gonna lean towards? Right? So to Terry's point, being comfortable, looking at it as a conversation because when you come in prepared, don't have to be, worried and full of anxiety and stress and things of that nature. You know, just to take it to a spiritual level, what's for you is for you. All you have to do is show up and be your best.
Speaker 2:If it's for you, God's gonna make it happen. If it's not, then he probably closed the door to protect you from something that you didn't know. Right? But the communication is is is is key. You have to, you have to go in with very, very effective communication.
Speaker 2:Active listening, right? You have to sit down and listen to the employer's perspective. I know you want to go in and get this certain salary, right, because of all the things that it means to you and your personal life and your family, but you really it would really behoove you to sit down and listen to the employer's perspective. What problem are they trying to have you solve? Right.
Speaker 2:Because they're not hiring you because you're just a great person. They're hiring you to come in and solve a problem. Right. So understanding the employer's perspective. But, and then again, through connecting with that person, building trust.
Speaker 2:Right? So that they feel comfortable with you and they feel like that there's a connection made with you.
Speaker 1:Thank you for being with us today on Leadership Sovereignty. Stay connected with us on X formerly known as Twitter, and on Instagram by searching for Leadership Sovereignty. And just like this podcast, let's all collectively grow as we go. God bless.