Negotiating a Job Offer – The Ultimate Win Win

Everything is negotiable. Your job offer, every performance review, all formal job settings are an opportunity to negotiate your salary, bonuses, benefits or other options and incentives that provide job satisfaction and financial security. With a little planning you can take control of the negotiations and create yourself a package that suits your needs.

The time to negotiate is between hearing you are successful in securing the job and accepting it, so it pays to do your homework before the initial offer and slip right into the driving seat when the negotiation starts.

Learn the Factors

The company will base their offer on a number of power factors – you need to learn them to be able to negotiate successfully. Consider the current economy and demand in the industry, what education and skills are needed, the profitability of the company, how long they have been established, how quickly they need to fill the position, estimate their budget, other opportunities this position may give you, availability of other candidates and the career risk in the job offer. The more you know about these factors, the more successful your negotiating will be.

Consider a Pause

Timing is really important. Make sure you are a clear about all the position has to offer and be enthusiastic, but ask for more time to consider. This is an important decision and the recruiter will expect you may need some time to investigate all the aspects of the package and how it will affect you. Do not be over eager or you will come across as desperate or unprofessional. The company will appreciate you making a calculated decision when you are in possession of all the facts.

Consider your Counter Offer

If the initial package you are offered needs negotiation, prepare to justify the reason for a new limit. Yours will not be the first counteroffer they have experienced, so remember that they have heard may reasons why something needs to change. Make sure yours is a strong and valid counter.

Use your research in your counter offer, especially the factors that deal with company size, revenue and demand. Smaller companies may be more flexible but tighter on budget than larger companies, and unionized positions have very little room for movement at all.

Always Look for a Win/Win Scenario

Do not go into the negotiation with the attitude that this will be a ‘me or him’ situation, or that you have to behave badly to get what you want. Always present any counter offer as a two way street where you will both walk out of the meeting with what you need. Effectively all you are doing is creating the terms for the final agreement, not going to war. Use your research and prepared justifications, but present them as a positive benefit to the company, then allow them the courtesy of a counter offer. Consider it and then answer honestly. You’ll soon come to an agreement.

By doing your homework, putting time into knowing your value and handling yourself with decorum and integrity, you can negotiate the package you want and build a bond with your employer that will leave a positive impression. They will leave the negotiating table feeling that they have the made the right decision and will look forward to working with you. Grab the opportunity to negotiate with your employer and create the win/win situation that starts you both off on a high note.

 

 

The Hidden Job Market

Career experts estimate that there is large number of job openings that never make it on the job boards or news circulars but are successfully filled by word of mouth. These jobs are known as ‘The hidden job market’. The only way to access this valuable resource is to be ‘in the loop’ of the word of mouth circles, which is more commonly known as networking. In general the hidden job market tends to be rich with the kind of jobs that get you a corner office and a secretary, but even with this knowledge most job seekers fail to use networking to its full potential.

The perception of networking is that it’s hitting the phones and making yourself unpopular – and it can be – but it doesn’t have to be. Networking works best when the contact is natural and varied, so something as simple as ‘working the room’ at social and business functions can garner people that can help you tap into the hidden job market.

If you want a job, learn to strike up a conversation and talk to everyone – you never know where that golden contact is. It may not even be that contact that is golden, it may be his friend or co-worker that he introduces you too. It also may not be a person, it may be the inside knowledge you need to find the job that leads to success. Talk to family, friends, co-workers, industry contacts, trade shows and neighbors, not forgetting former co-workers, bosses or even teachers. There are no rules to who should be in your network.

If your want your network to succeed put in the necessary effort to make it work well. All it takes is time, but can land you the perfect job. Follow these steps to help you make the most of your networking skills.

1: Get organized. Make a database of names and contact details. Prioritize it if it is long, and break into industries or job positions if it helps you narrow down to your search.

2: Stay in contact. Choose the best medium for the contact, not you. If it’s a phone call – call! Don’t forget emails, or even holiday cards if it is a family friend or member. You want them to remember you when you ask for help.

3: Set a goal. How many new contacts do you want to make each week? Who do you want to contact? Why? Then fulfil your goals.

4: Get your resume in tip top form. The first thing they’ll ask for is a resume. Have more than one resume tailored to your strengths, or to the industry. Your contact won’t want to wait four hours whilst you write one up, if they want your resume they want it NOW and you’ll need to supply it to keep the momentum going.

5: Consider setting up an informal interview. The purpose is to get information, not a job, but this information will be invaluable as will the bond you build with an industry insider. Make sure you have a plan about what you want to know.

6: Never take your network for granted. Let them know how you are doing and what help you need. People love to help. Use that power in your job search. One of the biggest mistakes people make in using their network is not asking for help. A few contacts may fail when you are at this point, but they will be in the minority. If they do fail – they couldn’t help you anyway.

All it takes is time and motivation to tap into the rich resource of the hidden job market, so make the most of it. By organizing your time and your approach, you could soon be in that corner office with a little help from your friends.

 

 

 

5 Basic Job Hunting Skills That Will Never Go out of Style

In the last decade the focus of life seems to be centered around social media and the internet. Shopping, working and social life revolves around tweeting, posting and search engines, but if you are looking for a job there are some skills that will never go out of style – and will never be replaced [...]

Continue reading...

Habits That Lead to Promotion

In today’s job market it’s hard to get noticed by the people that matter. With a very mobile market there is a large base of qualified candidates out there who have the qualifications needed to be a boss, and the hunger to get a position that is the next step up. Gone are the days [...]

Continue reading...

Handling Rejection After an Interview

Talk to any successful business person what has taught them the most about success and nearly all of them will say, ‘failure’. The ability to fail, and fail well, is a prerequisite for success in any aspect of life. It is by trying and failing we begin to truly understand how things work, and begin [...]

Continue reading...

Four Resume Tips

      Resumes are one of the most important tools in your job search.  They are designed to get you into that recruiter’s office so you can sell yourself as the best candidate for the job.  Advice on good resume writing is out there, all with different rules to apply.  However, not everything that [...]

Continue reading...

What Is a Resume Really For?

Do you have gaps in your employment?  One of the specific things that recruiters look at is whether or not you have large empty spaces of time between jobs.  If you do, this may be a red flag.  Of course, if you have gaps in your resume, you should never lie and eliminate them.  Simply [...]

Continue reading...

How to Write a Cover Letter

Cover letters are just as important as resumes.  Cover letters are designed to be personal and is your one opportunity to stand out from all the rest.  It should never be a recap of your resume, but should add to it.  According to AgriMarketing, the cover letter is the perfect tool to accomplish several things.  [...]

Continue reading...

In the Job Market, Competition Is Greater Than Ever

According to the Wall Street Journal, in March 2013 the participation rate hit an all-time low not encountered since 1977. The participation rate refers to people either looking for work or currently working. This means that there are seven million people “missing” from the labor force. What could this suggest? According to economists, the labor [...]

Continue reading...