Negotiations in (HR) Leadership
Are you second-guessing how to extend employment offers in states where salary bans preclude you from asking about a candidate’s current salary or salary history?
Are you concerned about negotiating a truce when staff members seem to be unable or unwilling to get along with one another?
What about “negotiating” employee separations when no progressive discipline is on file and a layoff isn’t an option because you have to backfill the job?
No matter how you look at it, negotiations happen all the time when it comes to people practices, convincing employees that you’re on their side, and insulating the organization from unnecessary liability.
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Negotiating a deal that falls apart after it is closed can be a frustrating experience.
This article provides tips on how to close a negotiation and ensure a lasting agreement.
Preparation of a summary, addressing any concerns, requesting commitment, expressing appreciation and following up with action are all important steps to take.
These tips can help to create win-win solutions and foster cooperation with negotiation partners.
What challenges or best practices have you encountered when closing negotiations?
How do you close a negotiation and ensure a lasting agreement?
Learn from the community’s knowledge. Experts are adding insights into this AI-powered collaborative article, and you could too.
Negotiation is not only about reaching a deal, but also about making it last. A successful negotiation should result in a win-win solution that satisfies both parties and fosters cooperation. How do you close a negotiation and ensure a lasting agreement? Here are some tips to help you achieve this goal.
Prepare a summary
Before you end the negotiation, it is important to summarize the main points and outcomes of the discussion. This will help you clarify any misunderstandings, confirm the details, and reinforce the benefits of the agreement. You can use a checklist, a document, or a slide to present the summary and ask for feedback. Make sure you cover all the essential aspects, such as the scope, the timeline, the deliverables, the responsibilities, and the payment terms.
Address any concerns
Even if you have reached a tentative agreement, there might be some lingering doubts or objections from the other party. You should address these concerns before you finalize the deal, as they might affect the implementation or the satisfaction of the agreement. You can use empathy, questions, and evidence to understand and resolve any issues. For example, you can say “I understand your concern about X. How can we make you feel more comfortable about it?” or “Can you explain why you think Y is a problem? Here is some data that shows how we can overcome it.”
Ask for commitment
Once you have summarized and addressed the concerns, you should ask for a clear and explicit commitment from the other party. This will help you avoid ambiguity, confusion, or reneging on the agreement. You can use a direct or an indirect approach, depending on the situation and the relationship. A direct approach is to ask “Are you ready to sign the agreement?” or “Can we shake hands on this deal?” An indirect approach is to ask “How do you feel about the agreement?” or “What are the next steps to finalize the deal?”
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Olga V. Mack
Digital Transformation Executive @ LexisNexis | Above the Law + ACC Docket Legal Tech & Future of Law Columnist | 3x TEDx Speaker | Berkeley Law Lecturer | Notes to My (Legal) Self Podcast Host | Made in Ukraine
Set a deadline for when the agreement needs to be finalized. This can help to keep the negotiation moving forward and ensure that both parties are committed to reaching a resolution.
Express appreciation
After you have secured the commitment, you should express your appreciation and gratitude to the other party. This will help you build rapport, trust, and goodwill, which are essential for a lasting agreement. You can use sincere and specific compliments, such as “Thank you for your cooperation and flexibility. You have been a great partner in this negotiation.” or “I appreciate your professionalism and creativity. You have made this process very smooth and productive.”
Follow up with action
The last step to close a negotiation and ensure a lasting agreement is to follow up with action. You should deliver on your promises, communicate regularly, and monitor the progress of the agreement. You should also provide feedback, recognition, and support to the other party, and address any challenges or changes that might arise. By following up with action, you will demonstrate your credibility, reliability, and value, and strengthen the relationship for future negotiations.
Here’s what else to consider
This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?
Negotiation
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