Negotiation Fundamentals for Employees

1. SMART
Negotiation 101
Prepared in
May 2013
by Ji Eun (Jamie) Lee
@jieunjamie
LinkedIn Profile
By Ji Eun (Jamie) Lee
Friday, May 31, 13

2. Agenda
• Define SMART strategy
• Visualize Success
• Assess your bargaining power
• Strategies to boost bargaining power
Friday, May 31, 13

3. SMART Negotiation
Friday, May 31, 13

4. SMART Negotiation*
By Ji Eun (Jamie) Lee
*SMART acronym by Gwen Taylor
Friday, May 31, 13

5. SMART Negotiation*
• Stay focused on your agenda and relationship
By Ji Eun (Jamie) Lee
*SMART acronym by Gwen Taylor
Friday, May 31, 13

6. SMART Negotiation*
• Stay focused on your agenda and relationship
• Measurements matter
By Ji Eun (Jamie) Lee
*SMART acronym by Gwen Taylor
Friday, May 31, 13

7. SMART Negotiation*
• Stay focused on your agenda and relationship
• Measurements matter
• Ask clearly and succinctly
By Ji Eun (Jamie) Lee
*SMART acronym by Gwen Taylor
Friday, May 31, 13

8. SMART Negotiation*
• Stay focused on your agenda and relationship
• Measurements matter
• Ask clearly and succinctly
• Reiterate your contributions, redirect when
necessary
By Ji Eun (Jamie) Lee
*SMART acronym by Gwen Taylor
Friday, May 31, 13

9. SMART Negotiation*
• Stay focused on your agenda and relationship
• Measurements matter
• Ask clearly and succinctly
• Reiterate your contributions, redirect when
necessary
• Time to discuss and follow-up. It’s a process.
By Ji Eun (Jamie) Lee
*SMART acronym by Gwen Taylor
Friday, May 31, 13

10. Visualize Success
Friday, May 31, 13

11. Con.fi.dence - noun
By Ji Eun (Jamie) Lee
Friday, May 31, 13

12. Con.fi.dence - noun
• Firm trust, certainty
By Ji Eun (Jamie) Lee
Friday, May 31, 13

13. Con.fi.dence - noun
• Firm trust, certainty
• Do your employers trust you to do your job?
By Ji Eun (Jamie) Lee
Friday, May 31, 13

14. Con.fi.dence - noun
• Firm trust, certainty
• Do your employers trust you to do your job?
• Do you trust your employers to hold up their end of
the bargain?
By Ji Eun (Jamie) Lee
Friday, May 31, 13

15. Con.fi.dence - noun
• Firm trust, certainty
• Do your employers trust you to do your job?
• Do you trust your employers to hold up their end of
the bargain?
• Self-assurance from your appreciation of
your abilities and qualities
By Ji Eun (Jamie) Lee
Friday, May 31, 13

16. Con.fi.dence - noun
• Firm trust, certainty
• Do your employers trust you to do your job?
• Do you trust your employers to hold up their end of
the bargain?
• Self-assurance from your appreciation of
your abilities and qualities
• How do you value your work?
By Ji Eun (Jamie) Lee
Friday, May 31, 13

17. The Most ConfidentYOU
By Ji Eun (Jamie) Lee
Friday, May 31, 13

18. The Most ConfidentYOU
• When are you the most confident?
By Ji Eun (Jamie) Lee
Friday, May 31, 13

19. The Most ConfidentYOU
• When are you the most confident?
• How does she feel, look, walk, and
talk?
By Ji Eun (Jamie) Lee
Friday, May 31, 13

20. The Most ConfidentYOU
• When are you the most confident?
• How does she feel, look, walk, and
talk?
• What can she do?
By Ji Eun (Jamie) Lee
Friday, May 31, 13

21. The Most ConfidentYOU
• When are you the most confident?
• How does she feel, look, walk, and
talk?
• What can she do?
• Who inspires you? Why?
By Ji Eun (Jamie) Lee
Friday, May 31, 13

22. The Most ConfidentYOU
• When are you the most confident?
• How does she feel, look, walk, and
talk?
• What can she do?
• Who inspires you? Why?
• What are your aspirations?
By Ji Eun (Jamie) Lee
Friday, May 31, 13

23. What She Wants She Gets
How? She asks for it!
Friday, May 31, 13

24. What She Wants She Gets
• What is success to you, professionally
AND personally?
How? She asks for it!
Friday, May 31, 13

25. What She Wants She Gets
• What is success to you, professionally
AND personally?
• What would you want more in life, if you
were certain you can get it?
How? She asks for it!
Friday, May 31, 13

26. What She Wants She Gets
• What is success to you, professionally
AND personally?
• What would you want more in life, if you
were certain you can get it?
• If you were to ask for it, what would be
possible in your life?
How? She asks for it!
Friday, May 31, 13

27. AssessYour
Bargaining Power
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28. Your Bargaining Power
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29. Your Bargaining Power
• What are your contributions?
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30. Your Bargaining Power
• What are your contributions?
• What is the economic value of your
contributions to your employer?
Friday, May 31, 13

31. Your Bargaining Power
• What are your contributions?
• What is the economic value of your
contributions to your employer?
• What are you getting for your contributions?
Friday, May 31, 13

32. Your Bargaining Power
• What are your contributions?
• What is the economic value of your
contributions to your employer?
• What are you getting for your contributions?
• Who else would pay for your services?
Friday, May 31, 13

33. KnowYourValue
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34. KnowYourValue
• Ask for what you want based on your value
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35. KnowYourValue
• Ask for what you want based on your value
• Forget what’s fair
Friday, May 31, 13

36. KnowYourValue
• Ask for what you want based on your value
• Forget what’s fair
• Forget bare minimums
Friday, May 31, 13

37. KnowYourValue
• Ask for what you want based on your value
• Forget what’s fair
• Forget bare minimums
• What you’re offered, at least initially, is NOT
your value
Friday, May 31, 13

38. KnowYourValue
• Ask for what you want based on your value
• Forget what’s fair
• Forget bare minimums
• What you’re offered, at least initially, is NOT
your value
You don’t get what you deserve,
Friday, May 31, 13

39. KnowYourValue
• Ask for what you want based on your value
• Forget what’s fair
• Forget bare minimums
• What you’re offered, at least initially, is NOT
your value
You don’t get what you deserve,
you get what you negotiate.
Friday, May 31, 13

40. Questions
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41. Questions
• Are you exceeding your work objectives?
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42. Questions
• Are you exceeding your work objectives?
• If so, how and by how much?
Friday, May 31, 13

43. Questions
• Are you exceeding your work objectives?
• If so, how and by how much?
• If not, what’s keeping you?
Friday, May 31, 13

44. Questions
• Are you exceeding your work objectives?
• If so, how and by how much?
• If not, what’s keeping you?
• Is this being communicated to your employers?
Friday, May 31, 13

45. Questions
• Are you exceeding your work objectives?
• If so, how and by how much?
• If not, what’s keeping you?
• Is this being communicated to your employers?
• Do you have a specific plan to bring
additional value to your company? Can you
articulate it?
Friday, May 31, 13

46. Questions
• Are you exceeding your work objectives?
• If so, how and by how much?
• If not, what’s keeping you?
• Is this being communicated to your employers?
• Do you have a specific plan to bring
additional value to your company? Can you
articulate it?
• What would be the additional benefit to
your employers?
Friday, May 31, 13

47. SetYourself Up For
Success
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48. SetYourself Up For
Success
• Align your goals with company objectives
Friday, May 31, 13

49. SetYourself Up For
Success
• Align your goals with company objectives
• Frame your asks as a mutual benefit
Friday, May 31, 13

50. SetYourself Up For
Success
• Align your goals with company objectives
• Frame your asks as a mutual benefit
• Make sure your goals are measurable and
achievable
Friday, May 31, 13

51. SetYourself Up For
Success
• Align your goals with company objectives
• Frame your asks as a mutual benefit
• Make sure your goals are measurable and
achievable
• If not, be prepared for BATNA
Friday, May 31, 13

52. Best Alternative To
Negotiated Agreement
• What can you do if negotiation fails and an
agreement cannot be reached?
• Are you willing to walk away from the table?
• Are you willing to leave this job?
• What other options do you have?
Friday, May 31, 13

53. Boost Bargaining Power
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54. Boost Bargaining Power
• Get inside your bargaining partners’ heads - what
are their dreams, hopes and fears?
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55. Boost Bargaining Power
• Get inside your bargaining partners’ heads - what
are their dreams, hopes and fears?
• Outperform beyond expectations
Friday, May 31, 13

56. Boost Bargaining Power
• Get inside your bargaining partners’ heads - what
are their dreams, hopes and fears?
• Outperform beyond expectations
• Make yourself indispensable
Friday, May 31, 13

57. Boost Bargaining Power
• Get inside your bargaining partners’ heads - what
are their dreams, hopes and fears?
• Outperform beyond expectations
• Make yourself indispensable
• Improve your BATNA - get another offer
Friday, May 31, 13

58. Real and Perceived Power
Friday, May 31, 13

59. Real and Perceived Power
• What is your real power as an at-will
employee?
• ValueYou Bring to the Table
• BATNA
• Credentials, connections, etc.
Friday, May 31, 13

60. Real and Perceived Power
• What is your real power as an at-will
employee?
• ValueYou Bring to the Table
• BATNA
• Credentials, connections, etc.
• How can you improve your perceived
power?
• The Most ConfidentYou
• Communication style
Friday, May 31, 13

61. Consider the Whole Package
• Salary
• Benefits
• Long-term Incentive Compensation
• Short-term Incentive Compensation
• Something special
Add it up. How much $$$ is the total?
Friday, May 31, 13

62. Take Action
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63. Take Action
• Remember you negotiate at work everyday.
Make it count.
Friday, May 31, 13

64. Take Action
• Remember you negotiate at work everyday.
Make it count.
• Reach out to your network, people you
know.Ask them, would they pay for your
services?
Friday, May 31, 13

65. Take Action
• Remember you negotiate at work everyday.
Make it count.
• Reach out to your network, people you
know.Ask them, would they pay for your
services?
• Research your market rate. Dig a little
deeper.
Friday, May 31, 13

66. Take Action
• Remember you negotiate at work everyday.
Make it count.
• Reach out to your network, people you
know.Ask them, would they pay for your
services?
• Research your market rate. Dig a little
deeper.
• Take colleagues out to coffee. Is there internal
political stuff you don’t know about?
Friday, May 31, 13

67. Conversation Tips
• Assume Power - Be in control of the
conversation
• Direct the flow with diagnostic
questions (who, what, when, where, how
and why)
• State your goals and expectations
• Express excitement and gratitude or
disappointment - Be clear
Friday, May 31, 13