3 Keys to negotiation of a job offer
The hiring process is not complete until there is an agreement between the organization and the candidate. This final step is as important as any of the prior steps for both parties. The goal is to secure a win win agreement between an organization and a candidate. This can be a delicate part of the process especially when there is a substantial gap between the offer made by the organization and the expectations that a candidate has for the role.A candidate can manage their side of the job offer negotiation by doing three things:
Prepare for the negotiation in advance of receiving an offer. By defining expectations in advance of an offer, it allows for the candidate to do so absent emotional baggage that may occur in the interview process.Â
An approach to help a candidate prepare is to lay out the current state (or most recent for someone in transition), an acceptable offer and an ideal offer across key dimensions. You might also include a column for a ð€Çgoodð€Ý offer. A chart that can be used is as follows:
 Pre Offer Preparation
                       Current                      Acceptable                Good              Ideal
Salary
Bonus %
Sign on bonus
Long term comp
Car
Relocation
Other perks
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Know your priorities (using the chart above) in advance. This will enable you to address the areas that are of greatest concern or opportunity for enhancement. Your priorities should guide evaluation of the offer.  By pre-planning, you have a basis for evaluating the offer in a rational and less emotional manner.Â
By knowing your priorities and staying with them, you can keep your negotiations on the right items. Importantly, donð€™t revisit areas after youð€™ve reached agreement, or introduce new points of concern later in the negotiations.
Follow up quickly and respond within 48 hours. If you have another opportunity that is coming to closure, you may adjust this timing, but as you near a week, you become less attractive to the hiring organization.
Avoid allowing the negotiation process to extend beyond one week. This becomes less attractive to the hiring organization.
In summary, for effective negotiations prepare in advance, know your priorities and handle promptly.