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Importance of Negotiation in Corporates

Importance of Negotiation in Corporates

 

Introduction

 

Negotiation is nothing but a discussion among individuals to find out an alternative that considers the interest of all, and nobody is at a loss. In a win-win negotiation, people try their best to come to a solution where everyone is benefited, and nobody is at a loss. Negotiation is essential in corporates to avoid conflicts and improve the relations among the employees. Don’t be too rigid and adamant in the office.

 

Let us understand how negotiation is important in the workplace.

 

The process of negotiation starts the moment an employee gets a selection call from an organisation. It is essential that the individual responsible for hiring employees negotiates well with the candidate and offers him the best salary. Every organisation runs to earn profits. Thus, the HR Professional must try to make the person join at the lowest possible salary but make sure you do not offer him anything less than his previous salary. He will never be interested in joining. Even if he enters, he will not take his work seriously, and the results would be zero. Discussions are important. Make him realise that money is not the only criteria for selecting a job. Other things like one’s job responsibilities, job security, and brand name should also be considered.

 

The negotiation style plays an important role incorporates. Do not offer anything exceptionally high as it would again create a problem among the existing employees. Ensure that you are a little tactful and do flash your trillion-dollar smile. It helps. No way can you annoy the individual.

 

Negotiation is also important when you are dealing with vendors. An organisation needs money to survive and take care of the employees as well. It can’t afford to spend money as it is. A single penny saved will help you and the organisation later. The person dealing with the external parties must be a good negotiator; otherwise, he will pay more than required. Always sit with the vendor and quote a price a little lower than you intend to pay. He will ask you to increase it, and probably then you will reach a figure well within your organisation’s budget. Don’t be rude with your vendor but be very confident and convincing. Remember you are not dealing with him just once; you need to maintain a healthy relationship with him for future business. Try to convince the vendor at such a rate that would benefit your organisation and save money. Quote realistic figures and do take care of the vendor’s profits as well. Try your level best to close the deal.

 

One should never accept terms and conditions verbally. It’s always better to have something in black and white, probably a contract, as it is more reliable. The terms and conditions must be discussed on an open forum and should be signed in the presence of both parties so that nobody backs out later.

 

One should also learn to negotiate with one’s superiors. Remember, negotiation does not mean you have to shout at others. You need to be polite. Don’t accept responsibilities just because your boss wants them. If you are not comfortable with any role, it's better to decline it than accept something you are not familiar with and lose interest later. After all, their other employees cant the same, and you can do something else that suits your profile. If you know, you will not submit the project within the stipulated time frame, tell your boss. Never hide things from him. Be straightforward. If you want to go for a leave, try to negotiate with him that probably you will attend office the coming weekend or sit for some more time in the coming days to compensate for the loss. Be a little patient.

 

 

Conclusion

 

Conflict must be avoided at the workplace as it only leads to negativity all around. Negotiations help to reduce conflicts at the workplace. Conflicts arise when individuals are too rigid and are just not willing to compromise with each other. Negotiations help in finding an alternative that benefits all.

 

Let us understand the importance of negotiation incorporates with the help of a simple example:

 

Ted was working with a leading organisation. He was an intelligent negotiator. He always negotiated well with his superiors as well as his fellow workers and thus enjoyed his work. He only accepted those responsibilities he knew he was capable of doing. No doubts his work was error-free, and he was his boss’s favourite. He was always well informed before going for any negotiation with vendors, never lost his temper and permanently closed the deal in favour of the organisation. Good negotiation skills helped Ted be the most appreciated employee among all.

 

 

This Article Does Not Intend To Hurt The Sentiments Of Any Individual Community, Sect, Or Religion Etcetera. This Article Is Based Purely On The Authors Personal Views And Opinions In The Exercise Of The Fundamental Right Guaranteed Under Article 19(1)(A) And Other Related Laws Being Force In India, For The Time Being. Further, despite all efforts made to ensure the accuracy and correctness of the information published, White Code VIA Mediation and Arbitration Centre shall not be responsible for any errors caused due to human error or otherwise. 

  • Introduction
  • Importance of Negotiation at the work place
  • Conclusion

BY : Deewakar Yadav

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