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Asking for a promotion can feel daunting and negotiations can be difficult – but learning how to navigate the process is important.
People often approach negotiations with the wrong mindset, says Horacio Falcão, INSEAD professor, negotiation expert, author, serial entrepreneur, and designer of INSEAD’s “The Negotiation Course for the World,” a free course on negotiation launched in November.
Instead of approaching negotiations thinking you have the right solution and your goal is to “cross over” to the other person, it’s more beneficial to learn how to be a better negotiator, he said.
“For you to be a better negotiator, to some extent, you have to be a better person,” he said. “You have to be more emotionally intelligent … more patient (and) more prepared. You have to have more empathy for people.”
Here are three common mistakes to avoid when negotiating promotions, according to Falcão.
It moves very quickly
The first thing to know about asking for a promotion is that “you don’t have to wait for the annual review to (get a promotion),” Falcão said.
“A lot of people make mistakes when negotiating because they go too fast,” he said. “One of the things I tell my students is to ‘baby step’ yourself.”
Getting a promotion requires trust, which takes time to build, Falcão said. Instead of waiting for the annual review to roll out to ask for a promotion, employees should open a long conversation before they plan to do so.
“You need to get closer to your supervisor, and on a regular basis, by inviting him for coffee, or one-on-one meetings,” he said.
These regular conversations not only allow you to ask questions and gather feedback so you can correct yourself throughout the year, but also help you build a stronger relationship with your boss. In addition, the conversation gives the employee the opportunity to verbally express his goals in the company.
Falcão suggests talking about: “I’m very excited. I want to grow quickly. I’m willing to put in the effort, energy, time needed to be the next person (to promote) what group or groups should I do?”
Taking this time to voice hunger for growth, while demonstrating the ability to follow through on the plan over the years can demonstrate to the company that it has leadership potential, he said.
Don’t stop asking
Negotiations can be stressful – you may not know what to say.
“If someone says something to you, and you find yourself short of words, this is your brain’s way of saying you don’t have anything good to say. Stop, and ask questions instead,” said Falcão.
Here are three questions you can ask during negotiations.
1. “How did you get that number?”
The figures shown in the job offer must be backed up.
“Numbers tend to be black boxes that are usually the output of … formulas,” Falcão said. “But numbers alone don’t mean anything.”
If someone gives you a number or a position, they should also back it up, he said.
2. “Why would you do this if you were me?”
Asking these questions can facilitate further understanding in the conversation.
For example, if an employee is given an offer that they are not happy with, they may know that the employer does not have a good answer to the question.
On the other hand, “information asymmetry is a big thing in negotiations,” he said, so employers can reveal more information about how to make offers or about company budgets, which can ultimately provide more context and help employees create more. informed decision.
3. “How are you?”
The conversation can be pulled out, so it is useful to take a break from the conversation and check the pulse.
Falcão suggests this: “If you think you’ve been there for a while (and) things are a bit disconnected or emotional start to come out of the middle, ask: ‘How are you?'”
Ultimately, the deal on offer will be the result of good negotiations, so it’s important to create the environment for the conversation to go well, he said.
Have a very clear idea of success
Negotiation, unlike many other aspects of work, should not have a clearly defined idea of success, Falcão said.
“Negotiations are messy. It’s about people building reality together,” he said. “Thinking that there is one winner and one loser in negotiations is a common mistake that people make because at the end of the day, the end goal may be between the two camps.”
One of the best skills is being able to listen and show that you want to work with the other party. Ultimately, it’s about coming to a “win-win situation.”
Want to earn more money at work? Take CNBC’s new online course How to Negotiate a Higher Salary . Expert instructors will teach you the skills you need to earn a bigger paycheck, including how to prepare and build confidence, what to do and say, and how to make a counter offer. Sign up today and use coupon code EARLYBIRD for a 50% introductory discount until November 26, 2024.
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