Salary is the key piece, of course, but there are many others. Too many job seekers assume that the organization's offer is set in stone. And they have only 2 options: take it or leave it. By recognizing that everything - benefits, working conditions, as well as salary-may be negotiable, you increase the chances of reaching a good agreement. That does not mean that everything in every situation is negotiable, but that there's probably more lee way than you have realized.
Benefits
Benefits are the fastest-growing component of compensation, accounting for more than 40% of the total. While some perks, like country club membership and executive parking, are declining, others, like child-care facilities, are increasing. Among the benefits that may be negotiable are:
- health
- profit sharing
- pension/retirement (company match on 401K plan)
- life insurance
- company car/car allowance
- tuition aid
- sign-on cash bonus
- performance or other bonuses
- home office equipment
- flextime
- extra vacation
- severance
Performance / Salary Review
One way to improve your salary is to negotiate the timing of your first performance review. For example, you could have a review and upgrade in 2 months, instead of 3, 6, or more months.
Bonus / Profit Sharing
Salary plus arrangements could be mutually beneficial. The timing and percentage of bonuses and/or profit sharing are subject to negotiation.
Other Aspects of Your Job
Will you have the staff, equipment, and support necessary to fulfill your responsibilities? Now's the time to ask for what you need so you can do the best possible job for them-and yourself Richard was very pleased when he accepted his position as a counselor for a not-for-profit organization. Initially, there were three grants supporting the work he loved to do - helping chents find jobs. But within a year, the funding ran out and Richard was urged to market the agency for his own, and their, survival, Although some of the proposals he wrote were funded, the agency would pay him only for his billable hours, the hours he spent in direct service to clients. He was in the frustrating position of having to volunteer his time to get the funds to do his job for which he would be paid.
Additional Responsibilities
In general, you'll want to be as indispensable as possible to your new employer and to develop yourself as fully as you can. Most people wouldn't want to take on added responsibilities at the outset, but there might be good reasons to do that. For example:
- Although this is a good company and you want this job, it's too similar to what you've done and you want more challenge.
- It doesn't pay enough. If you could get, enough support (personnel, equipment, or whatever is necessary), you would be willing to combine elements of more than one job. By doing that, you can help them streamline and save money. If additional training is required, training time and cost should be factored into this agreement.
- You think there's more growth in a related activity, and you want to get one foot in that door.
Flextime and doing some work from home are some additional things to consider. These kinds of arrangements could make a huge difference in how well this job works out for them, as well as for you.
The Ball's in Your Court
The Importance of Listening
"Listen to them with respect, show them courtesy, express your appreciation for their time and effort, emphasize your concern with meeting their basic needs…., Listening is as crucial for successful negotiations as for persuasive communications. Follow the 70%:30% rule-listening 70% of the time, speaking only 30%, mostly asking questions. There's no advantage to revealing a lot about yourself right now. Keeping your ears open, on the other hand, will allow you to pick up details you might otherwise miss.
Your Strategy
As in the past, you're "them" oriented. Keep emphasizing how you can benefit them as you work towards narrowing the gap between what they offer and what you want.
The discussion will probably start with the most important item: salary. Benefits will follow. If the salary is not as high as you had hoped, you can try to compensate with a better benefits package.
How hard should you push? That's a delicate balance and again, there are no "right" answers. You'll want to negotiate a good deal for yourself-and the best time to do it is now, when they want you. But obviously, squeezing out their last dollar is hardly the way to embark on a good long-term relationship.
On the other hand, job seekers often don't get what they're entitled to, either because they never thought to ask-or were afraid they'd seem too pushy. That's why your research is so important. Everyone respects facts.
