Bringing up a contract negotiation can make the most fearless people sweat. While most people have to broach the subject at some point, they also make a good number of mistakes.
One way to make things a little easier is to make sure the new deal works for both sides. The employer and employee should feel good about the situation at the end of the day as to avoid fighting and awkwardness later on. We will try to explain some pitfalls you can try to avoid when going in for a contract negotiation.
#1 – Not Being Prepared
A lot of people go into a bosses office asking for a raise without knowing what they want, and what they are worth. This is the biggest mistake you can make during a negotiation. If you know what you are worth, the employer will see your confidence and understand that if he or she doesn’t give you the raise, you may be smart enough to move elsewhere. Do a lot of research and if you are being underpaid, GET THAT RAISE!You will also want to practice your talking points before speaking with the boss. Rehearse like you would for an acting part. This may sound silly, but it could make you a lot of money in the end. #2 – Factor In Everything When picking a job, or deciding whether to take another job, you really have to look at a lot of factors. Make sure to think about the cost of living, the commute, benefits, and the work environment. Those probably seem obvious, but a lot of people get caught up on the dollar amount. Often times the lower paying job could be the best option either for your wallet or your happiness. #3 – Be Decisive Don’t drag things out. When you have to make a decision, make sure you make it quickly. First of all it can put off the employer if you do take the job, and if you don’t take it, it may put them in a bad position. We aren’t advising to rush a decision, but you should be prepared when you go in, and know the terms you want. If they can’t reach it, don’t be afraid to turn them down on the spot. These are just a couple of tips I have come across that have been helpful in my own life so hopefully they can help you as well. In future articles we will cover these steps in more detail.