What can you negotiate in employment marketplace?
Q: I was wondering how the changes in the workforce have affected negotiations with job offers. When I interviewed for jobs, I always negotiated for higher compensation, but now employers are open to discuss more options. What suggestions do you have for negotiating, and what has changed?
A: Most people feel awkward when talking about money, even though compensation issues often affect your career decisions. Unfortunately, it is not uncommon for job candidates to accept a lesser-paying job rather than discussing the offer. Just because negotiating feels uncomfortable does not mean you need to avoid it.
The goal of landing a good job begins with a mutually satisfying relationship with your new employer, and part of that relationship is based on being compensated for your experience.
Discussing compensation is no doubt part of negotiating. However, in today’s job market, more benefits and perks are being offered. Keep your compensation expectations realistic, but combine them with a flexible attitude.
Money is essential and important, so here are some ways you can improve your negotiation skills:
• Know your value in the marketplace. The more you research salaries for positions in specific fields of interest, the more likely you will have a successful discussion with the employer, and the more you may earn. Websites such as www.glassdoor.com, www.payscale.com, www.salary.com help provide information.
• Let the employer go first. Timing is critical when discussing money and when negotiating an initial salary for a job, let the employer be the first one to discuss compensation.
• Prepare and practice answering salary questions before an interview. It may feel awkward to practice an imagined conversation aloud, but it is worth every ounce of effort during an offer discussion.
• Ask about flexible work schedules and if the employer uses a hybrid approach of both office and remote work. Employers are more open to accommodating needs today than in the past; however, you need to ask to make it clear you value this.
• Carefully consider other benefits outside of finances, such as training, career development, or child care benefits.
• Do not be afraid to ask questions. It is OK to ask the employer how they arrived at the compensation being offered. They could be calculating benefits that you might not need. Your goal is to ask questions to help you understand — and weigh your needs — rather than put the employer on the defensive.
In addressing salary questions, what is the worst that can happen? You may not receive everything you had hoped for, but if you do not ask, you increase the chances of not receiving the important things to you and your budget.
Always be sensitive to the employer’s needs and situations. Their offer could be based on their financial health. It helps to show support to employers who might be in a start-up mode. Consider discussing other options outside of your compensation, such as a sign-on bonus or equity in the company.