Negotiation is an essential skill in the world of business, yet it’s a universal challenge that many people struggle with. Whether it’s asking for a higher salary, a promotion, flexible work arrangements, or any other benefit, the fear of negotiating can hold us back from achieving our career goals. In fact, a recent Salary.com survey found that nearly half (48%) of respondents are always apprehensive when it comes to salary negotiations.
But here’s the truth: negotiating is like any other business skill. It follows a process, and when approached with careful planning and strategy, it significantly increases the likelihood of a successful outcome for all parties involved. So, what’s stopping you from negotiating for what you deserve and desire? Let’s explore some common reasons and how to overcome them.
The Belief That You Don’t Deserve It
One of the most prevalent myths surrounding negotiation is the belief that you don’t deserve what you’re asking for. This self-doubt can be a major roadblock in your career advancement. The reality is that if you’ve put in the hard work, gained experience, and are adding value to your organisation, you deserve to be fairly compensated and rewarded. Recognise your contribution and use this as a foundation for your negotiation.
Fear of Risk
Negotiation involves risk, and that fear of things going wrong can be paralysing. Many individuals fear negotiation due to a lack of preparation, an unfamiliarity with the negotiation process, or a lack of knowledge about effective negotiation strategies and tactics. However, like any skill, negotiation can be learned and improved with practice and study. Understanding the process, developing a strategic plan, and learning the right tactics can significantly reduce the perceived risk.
Apprehension About the Unknown
Negotiating can be intimidating when you don’t know what to expect. The fear of the unknown can deter even the most capable professionals. To overcome this apprehension, invest time in educating yourself about negotiation techniques and best practices. Books, courses, workshops, and even seeking guidance from mentors or experienced negotiators can help demystify the process and boost your confidence.
Lack of Information
Negotiation is often based on facts and data. If you lack information about market salaries, industry benchmarks, or your organisation’s policies, it’s challenging to negotiate effectively. Prioritise research and gather relevant data to support your case. Knowing the market value for your skills and role can give you a clear advantage when negotiating for salary increases or benefits.
Negotiation is a valuable skill that can make a significant difference in your career. Don’t let fear hold you back from asking for what you deserve. Recognise your worth, embrace the opportunity to learn and grow, and prepare thoroughly for negotiations. Remember, it’s a universal challenge, but with practice and perseverance, you can become a confident and successful negotiator, opening doors to career advancement, better compensation, and the benefits you desire. Embrace the power of negotiation as a tool to propel you toward your career goals, ensuring that nothing holds you back.
If this resonates with you, have a look at our upcoming sessions to see how we can help to unlock – and elevate – the potential in your workplaces.
Come and join the conversation over on LinkedIn to be kept up to date with the latest news!