Episode description
Episode description
Podcast Summary
Welcome to "Salary Negotiations Made Simple." In today's episode, we're diving into the topic of negotiation power and how it affects salary discussions. We'll explore why having power in negotiations is important and why some people struggle with feeling powerless. But don't worry, we've got practical solutions to help you overcome those challenges.
Negotiation power is all about being able to influence decisions and shape outcomes in your favor during salary negotiations. It's crucial for advocating for your worth and getting the best possible agreement.
However, many individuals often feel they have low power when negotiating their salary, which can hinder their success. We've identified three common reasons for this: lack of confidence, fear of rejection, and being introverted.
We have strategies to help you overcome these challenges and regain your power in negotiations. Whether it's boosting your confidence, conquering the fear of rejection, or leveraging your introverted strengths, we'll guide you through it all!
Let's dive in.
Links Mentioned
Salary research
Free Salary Negotiations Training
https://www.dorothymashburn.com/fightforyourworth
Transcript
Power_in_Salary_Negotiations_Session_mixdown.mp3
Transcript
Hello I'm your host, Dorothy Mashburn, and welcome to salary negotiations made simple. Here I show you how negotiating does not have to be overwhelming. I break the entire process of negotiating into easy to learn steps that you can use in any salary negotiation situation. Whether you're starting a new job. Or preparing to ask for a raise.
Expect to receive practical, actionable strategies that are based on real life experiences. I'll be sharing tips that have been proven to work where professionals like you have netted $10,000 to $40,000 more in compensation. It's payment for the skills you already, so you need to know how to ask for payment for those skills.
Are you ready to learn how to boost your earnings?
In today's episode, we are going to cover power in negotiation. Why power is necessary to influence the outcome of a negotiation, why some negotiators suffer from low power syndrome, and what to do about it.
Power negotiation refers to the ability to influence decisions, shape outcomes. And assert one's needs and interests, understanding and harnessing power is critical because it enables you to advocate for your worth and secure favorable agreements.
However, many people experience a sense of low power during negotiations, which can actually hurt their ability to achieve their desired outcomes.
Today we'll explore three main reasons why people often feel they have low power. Those three reasons are lack of confidence, fear of rejection. And feeling undervalued because their intro. Started ready to get started. Let's dive in first. Confidence, or lack thereof. A lack of confidence can diminish your sense of power and hinder your ability to assert your needs.
So if you feel a lack of power because you lack confidence, what can you do? Let's explore some. Actionable steps to help you boost your confidence and therefore increase your negotiating power.
Strategy number one, identify limiting beliefs. Often a lack of confidence comes from self doubt and negative self talk. Start by becoming aware of this. Are you telling yourself that you do not deserve a higher salary? Are you thinking? Well, I'm not qualified enough. Once you identify these limiting beliefs, challenge them. Find evidence that proves your worth. Ask friends and family. Remember every single accomplishment or skill and the value you bring is a part of your worth. Replace those negative thoughts with positive. Affirmations, strategy.
#2 preparation. Yes, you will hear me say this over and over again, never weighing anything. The more prepared you are, the more confident you will feel. Take the time to research industry standards, salary ranges, and market trends. When you know you will feel powerful.
In fact, I have a great site. For you, for your rest. It's called H1 bdata info and I will link it in the show notes. This is a website that indexes the labor condition application disclosure data from the United States Department of Labor prior to filling out an H1B petition, companies have to disclose this LCA labor. Condition application that discloses what they're paying to certain salary ranges uses to your advantage. This is a fantastic data point to have in your tricks bag.
Strategy #3 focus on strengths and expertise. Recognize your unique strengths, skills, and expertise that set you apart in your field. In fact, take the time to write. Them all down. Fill up a whole page, focus on what you bring to the table, and then it becomes easier for you to project. Confidence and claim your power strategy for. Seek support and feedback. Sometimes lack of confidence can be overcome with the support and encouragement of mentors, trusted colleagues and friends. They can remind you of your strengths, offer insights, and share their own experiences. One of my favorite mentors of all time once told me, put on your game. And give them hell. This is my mantra before going into any salary negotiation, you will have to find one that works for you. But once you find it, you will use it and become unstoppable. One way to feel confident when you're talking to your manager or whoever else you're negotiating with is relying on nonverbal cues. Use nonverbal cues, such as nodding, maintaining eye contact, and open body language to convey attentiveness and interest. When you open up to someone, this reduces your own cortisol levels. And increases your confidence. These cues in turn reassure the speaker that you are actively listening.
The next thing that reduces power in the negotiation is fear of rejection. Fear of rejection stems from the desire to be accepted and the fear of being deemed unworthy or inadequate. It can lead to hesitation, self doubt, and a compromised negotiating position. So let's fix that.
Reframe rejection as redirection and we hear this all the time in popular psychology. Instead of viewing rejection as a personal failure, see it as an opportunity to redirect yourself to better options. Just understand every single one of us have been rejected. In some way or another, it often opens doors to new and more suitable opportunities by reframing rejection as redirection. You can get into a positive mindset and approach negotiations with Resilience strategy number.
o prepare for different outcomes, fear of rejection stems from the unknown. So prepare yourself for various outcomes.
Create a Plan B and even a plan C. For example, if you want a higher base salary, prepare for what? If they say no, what else can I be ready?
With could I ask for a gym allowance? Could I ask for more PTO, whatever those alternatives are? If you have those in mind, you will not feel as. Updated knowing you have other options can reduce the fear of rejection and empower you to negotiate more assertively. Remember, the goal is to find a mutually beneficial agreement, so if one offer doesn't work out, there are always other areas you can explore.
Strategy #3 practice desensitization. So what do I mean by that? Just like any fear, the fear of rejection can be mitigated by small exposures. Start by seeking out small opportunities for rejection with people you're familiar with. If you are practicing your negotiation, pitch with a friend, have them counter.
Every single point you make with a valid counterpoint, as you experience and accept rejection in these low stakes situation with a friend or a family member. You will not fear the actual negotiation as much. You will be more resilient and better equipped to handle it in high stakes negotiations. Focus on the process, not just the outcome. Oftentimes, the fear of rejection intensifies when we fixate solely on the end result. Instead, embrace the opportunity to articulate your value, engage in a meaningful conversation, and learn from the experience. Say to yourself, even if I don't win this, this experience is practiced for the next time.
The third thing that reduces power for people is as an introvert, you are undervalued. While introverts have a quieter presence, their skills and contributions are extremely valuable in the workplace. There are strategies to help introverts reclaim their power and advocate for their true worth.
First, lean into your string. Introverts possess valuable qualities that can be very advantageous in salary negotiations. These include listening skills, thoughtful analysis, and the ability to use power of silence to get more in a negotiation, recognize and appreciate these strengths as they enable you to approach negotiations with a very strategic mindset.
Strategy #2 prepare and rehearse. As an introvert, you may find comfort in extreme preparation, but don't. Could be wrong. I preach preparation to every single person. Use preparation to your advantage by dedicating time to research and rehearse your negotiation points. Anticipate objections, craft compelling arguments, and practice your value proposition. The more prepared you are, the more you will know your pitch by heart and the more confident you.
Strategy #3. Use active listening skills to your advantage. Introverts are excellent at active listening, which involves truly hearing the other party's perspective. This is a huge superpower on your site. During negotiations, actively listen to the needs and concerns of your manager or the person you're negotiating with this approach. Allows you to tailor your responses and propose mutually beneficial solutions.
Demonstrate that you genuinely understand and value their viewpoint. You can foster a positive and collaborative negotiation enviro. Let's dive into how, as an introvert, you can excel at active listening.
For example, you could be paraphrasing. Just to clarify, you're emphasizing the importance of developing A robust marketing strategy to target our key demographic. Did I capture your message another way you can show? Active listening is reflecting feelings. I can see that you're excited about the potential of the new product launch and the growth opportunities it may bring. This is very contagious. You can also ask clarifying questions. Can you elaborate on the challenges you mentioned in terms of streamlining processes? I'd like to better understand the areas that require improvement. Active listening involves using these techniques to the specific context and conversation. This provides engaging in a meaningful and productive dialogue which will help you gain confidence and power in any salary negotiations. Does that make sense?
Strategy #4. Usually I don't recommend negotiating through e-mail, but if you have crippling anxiety or any other anxiety that's causing you to have a challenge with a discussion, you can always leverage written communication. Use this to your advantage by following up with a well crafted e-mail or a detailed summary. It doesn't have to be formal, it's just a written record which allows you to reinforce your key points, clarify any misunderstandings, and express your gratitude for the opportunity to. Pushing
strategy, #5 seeks support from an advocate. I call this shadow negotiation. Sometimes introverted individuals may feel a trusted colleague, mentor, or friend who can act as an advocate for your value. If they're on the executive team, that's even better. They can help validate your contributions, offer insights, and provide an external perspective. In water cooler conversations or even at lunch with their colleague, having someone on your side can boost your confidence and ensure that your value is accurately represent.
Remember, being introverted is not a weakness. You have an extreme superpower and you should be able to unleash that and gather immense value from the negotiating table.
There you have it, my friends. All about power in negotiation. Why power is necessary to influence the outcomes of a negotiation. Why some negotiators suffer from low power syndrome and what to do about it?
Be sure to check out my free audio training on how to negotiate for your worth at www.dorothymashburn.com/fight for your worth.
Thank you and bye for now.