Learning Objective: Examine techniques that help evaluate employee value
The job is going great, and you really enjoy the work you are doing. The next step is the performance review and salary increase. You don’t want to ask for something unreasonable, yet you want to be awarded what is practical and fair for the job. Negotiating is a routine part of daily life and leadership, and approaching it with confidence and skill continually signals that you know your worth. This session will help you to understand your value to your company and to develop a plan to justify the value that you bring to your company. Join us to discuss strategies and techniques that can help you determine your worth and justify your assessment of your value to your company.
At the end of this seminar, participants will be able to:
a. Quantify their bottom-line contribution to their organization.
b. Develop techniques that will ensure optimal performance that justifies a salary review.
c. Identify methods for facilitating a discussion on fair compensation for both the employee and company.
d. Outline a plan to negotiate a salary increase.
Learning Objective: Examine techniques that help evaluate employee value
The job is going great, and you really enjoy the work you are doing. The next step is the performance review and salary increase. You don’t want to ask for something unreasonable, yet you want to be awarded what is practical and fair for the job. Negotiating is a routine part of daily life and leadership, and approaching it with confidence and skill continually signals that you know your worth. This session will help you to understand your value to your company and to develop a plan to justify the value that you bring to your company. Join us to discuss strategies and techniques that can help you determine your worth and justify your assessment of your value to your company.
At the end of this seminar, participants will be able to:
a. Quantify their bottom-line contribution to their organization.
b. Develop techniques that will ensure optimal performance that justifies a salary review.
c. Identify methods for facilitating a discussion on fair compensation for both the employee and company.
d. Outline a plan to negotiate a salary increase.
What’s my value? Negotiating fairly to benefit the bottom line
1.
What’s My Value?
Negotiating Fairly to Benefit the Bottom Line
Latonia Pouncy, Speaker
Renata Spinks, Speaker
Vanity Eddy, Moderator
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2.
Evaluate and Quantify Your Value
Identify Tools and Techniques to Express Qualification and Skills
Business Savviness (The Bottom Line)
Emotional Intelligence
Planning for Career Progression and Negotiating
Learning Objectives
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3.
Today’s Seminar Includes
Two Scenarios
Do plenty of research
Calculate your value to the company
Ignore your previous salary; think
beyond base salary
Shoot high, but prepare for rejection
Keep proper body and linguistic posture
Recognize negotiating as an opportunity
Embrace fear; Emulate confidence
Negotiate Yes or No?
Written vs Verbal Responses
Do plenty of Research
The Company
Current Employees
Financial Posture
Be Business Savviness
Be Financially Thought Led
Prepare Negotiating
Proper Email Etiquette
DO NOT RUSH
New Job Current Job
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4.
Comprehending, retaining and implementing the information you are exposed to is
essential to career progression. Wisdom, knowledge and understanding are some of
the most important tools you have as we live life professionally and personally.
How do we create an audience where the value we have for ourselves is reflected
in not only how we are treated in the workplace but also in what we are paid.
While there are many factors that come into play in the negotiation process --
benefits, perks and work-life balance -- salary negotiation is one of the trickiest
things to get right and is said to cause the most pause for women.
Why?
What’s the reason women are reputationally and statistically proven to often not
negotiate salary? Some research opines that it’s because we don’t ASK; other
research offers two more reasons………
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Knowledge Is Power…Wisdom is Invaluable
5.
Research often offers statistically women opt out of negotiating
(Ex. Purchases, Time to Completion of Action Items, Salaries)
for several reasons.
Once I decide on negotiating, how do I approach it? How do I
build the confidence to take on such a sensitive gesture of
opportunity? How do I continuously signal that I know and
understand my worth?
What is the difference between “understanding my worth”
versus “knowing my worth” and why are these two factors so
critical to successful negotiating and career planning?
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7.
“Negotiation skills are not skills we are born with but they
are skills that can be taught and even practiced”
such as Equal Pay for Equal Work has increasingly received attention and
has essentially spearheaded not only the focus on encouraging women to
not demand but command their value and worth.
Waves of Change have also resulted in more spaces of conversation and
support that build professional support and share strategies and
experiences across several platforms outlining how to defeat fear;
provide tools, techniques, methods and emotional intelligence to
increase our chances of trying and then ultimately being successful.
Self-Help Books and Conferences
Mentors/Networking
Support Groups, Coaches, Circle of Trusted Advisor
Academia Based CourseWork and Training
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8.
VALUE; HOW MUCH YOUR BEST YOU COSTS
FOCUS ON YOUR OWN bottom line
Know your value
What are your skills worth to you? How did you acquire these skills? What is
your story? What has your brand evolved to?
What’s your status, title, and responsibilities in the organization? How do you
help the organization’s brand and reputation?
What is your current salary and what is the value of your salary, to you?
How much is your take home pay --and what is that costing YOU?
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9.
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You can not quantify what you BRING TO THE TABLE
without first knowing what you VALUE
Negotiations and flexibility is a part of life. These
are opportunities of growth.
Maintain perspective, Focus on moving forward with
positive perspective
Your bottom line is created, driven and sustained by
your own value meter.
Perspective
FOCUS
MENTALITY
10.
Tools and Techniques for Negotiating Fairly to Benefit the Bottomline
DEVELOP TECHNIQUES THAT WILL ENSURE OPTIMAL PERFORMANCE
Increase your knowledge and expertise
Fill skills gaps and be flexible
THE IMPORTANCE OF PIVOTING
IDENTIFY MILESTONES AND DELIVERABLES THAT JUSTIFY A SALARY REVIEW
Timing
Organizational Goals and Professional Goals
Current milestones, deliverables and accomplishments
Difficulty, above and beyond
Commensurate comparisons; Past patterns of promotions or increases
Newly acquired revenue
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I AM WORKING IN MY FAVORED FIELD, ACHIEVING AND GROWING, HOW DO I CONTINUE TO
PROGRESS AND BE READY FOR MONETARY COMPENSATION FOR MY PROGRESS?
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Tools and Techniques for Negotiating Fairly to Benefit the Bottomline
Research past trends inside the organization
Industry best practice standards as they apply to your industry
90; 120; 180
52 Weeks
Automatic Increases vs. Personnel Action through Request or
Organizational Projections
Research and notate Metrics
Review examples of justifications according to position and trends
Face to Face Interactions Initially
Follow up via email; linguistically ensure positive communication
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DETERMINE THE BEST TIMING FOR DISCUSSING SALARY
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Tools and Techniques for Negotiating Fairly to Benefit the Bottomline
cont’d
CONSIDER NEW POSITION SALARY NEGOTIATING WHEN :
You Have an Offer in hand
You can Qualify and Quantify your value add to the organization
The salary does not meet your personal value meter
REFRAIN FROM NEGOTIATING WHEN
You have already accepted the offer at a lower number
They have indicated this is their “best offer”
You have received previous increase and at least 1 year has not
passed
You have no justification
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WHEN TO NEGOTIATE
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Tools and Techniques for Negotiating Fairly to Benefit the Bottomline
cont’d
IDENTIFY METHODS FOR FACILITATING FAIR COMPENSATION DISCUSSIONS
Ensure you focus on both you as the employee as well as the organization
Determine the best time frames to discuss compensation increases
After you determine the best time to have this discussion, create a
strategic roadmap (a written outline);
Include Time Frames and Projected Achievements
Identify Milestones for Self Evaluation and Progress Reporting
Attend Meetings where the organizational structure and strategies are
discussed; Research Meeting Minutes if Attendance is Restricted
Always consider current and projected budgets
Make note of turnover/workforce adjustments or “realignments”
Be open to opportunities through other positions or newly created ones
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NOW THAT YOU HAVE THE POSITION YOU DESIRE THERE ARE SOME STEPS THAT YOU SHOULD TAKE
TO STAY ON TOP OF YOUR PROGRESSION.
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Tools and Techniques for Negotiating Fairly to Benefit the Bottomline
cont’d
Schedule 1:1 Dialogues and Open Discussions for Content and Strategy
Critical Elements of the Discussion: STRATEGY IS IMPORTANT
Solicit Constructive Criticism First; Positive Endorsement/Feedback Second
Use Business Savviness and Emotional Intelligence to introduce your Professional
Goals
Be Open to Suggestions and Delays in Buy-In
Offer Alternatives
Don’t be reactive; anticipate responses so you engage in healthy dialogue
GET TO WORK
Build Relationships and Networks
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IT’S ALMOST TIME TO NEGOTIATE
Research and Prepare for the Conversation
Consider your organization’s financial posture
Commensurate Salaries
Document your achievements and future plans that support the
organization’s goals and bottom line
Pay especially particular attention to planned areas of improvement or the intent to
add “new things” to the company
Study your organization’s competitors; compare/contrast every thing the company
expends resources on
Use your research to offer up and outline what your skills bring to the
organization and how they will benefit the company
Include soft skills
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The job is going great and you really enjoy the work you are doing. It’s time for a
performance review. This opens the door for potential increases in salary, benefits or
both…………NOW WHAT??
16.
START WITH VALUE ADD
Quantify your value by researching the industry and organization’s position descriptions
paying special attention to not only the responsibilities but also the qualifications.
Compare and contracts these to each other and against the current qualifications you
have and the compensation plan you are being offered
New Job; Promotions; Within Position Pay Increase
Consider more than just your previous salary
Avoid using team members’ salary related actions
Determine what the total compensation package is
Benefits, work life balance, awards, retirement plans
If that is not definitely outlined, ASK.
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How to Quantify Your Worth
NEGOTIATING STARTS WITH YOU
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OUTLINE A PLAN FOR YOUR CAREER PROGRESS
Justify your value add with current accomplishments, ways you intend to support
accomplishing the organization’s goals and mission
Prepare for your meeting
Write out your plan
Use data not emotions
Hope for an immediate implementation of your request but prepare to negotiate
Come up with a list of questions to ask; Ask for their thoughts on approach or
actions they would like to see you perform and achieve success in that warrant
your “ask”
Come up with alternative solutions or acceptable compensatory values
Be Creative and Flexible
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18.
OUTLINE A PLAN FOR YOUR CAREER PROGRESS
Ok.. That went well --- GREAT
OK that didn’t go so well… now what?
Use data not emotions – Follow up via email; be gracious
Review your notes and compile and email communication using action verbiage
reflective of responses and feedback your received at the meeting
Hope for an immediate implementation of your request but prepare to negotiate
Come up with a list of questions to ask; Ask for their thoughts on approach or
actions they would like to see you perform and achieve success in that warrant
your “ask”
Come up with alternative solutions or acceptable compensatory values
Be Creative and Flexible
Create a plan that for future negotiations if applicable
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Contact Information
Renata C. Spinks, Speaker
Renata.spinks@cyberfitechs.com
www.linkedin.com/in/21rst1
Latonia Pouncey, Panel Member
Latonia.pouncey@L3t.com
Vanity Eddy, Moderator
veddy@amcoproteins.com
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