Negotiation is an integral aspect of our lives; we negotiate unknowingly all the time. Negotiation skills and the negotiation process are inextricably linked in a business requiring continual upgrading.
What is negotiation?
It is not a “fight to get what you want and keep what you have” rather, it is a give and take process. An article on Indeed defined negotiation as a dialogue between people reaching a mutually agreed decision or solution or settling a dispute for the benefit of all parties.
What are negotiation skills?
They are techniques that you can leverage to reach a common ground with those you are negotiating with. Mastering it is crucial for you to become a powerful negotiator.
Which negotiation skills are deemed important?
- Communication
Incorporate nonverbal cues with verbal skills and personalize your communication skills to suit your listeners’ specific requirements. - Emotional intelligence
Recognize how others feel and control your emotions by being conscious of the ongoing emotional dynamics. - Active listening
Retain as much as what you have listened to so, you can recall specific details whenever they are needed. - Persuasion
Cultivate the ability to influence others. Tread on the thin line between persuasion and importunity. - Expectation management
Be aware of opposite parties’ expectations and balance between being a firm and a collaborative negotiator. - Forbearance
Avoid seeking a quick consensus. Negotiations can often be time-consuming. Apply forbearance to assess a situation and arrive at an agreement.
What are the types of negotiation?
- Distributive (win-lose) negotiations – both sides trying to assume a monopoly of limited resources
- Integrative (win-win) negotiations – everyone benefitting from the settlement
When you understand the different types of negotiations, you will be able to personalize your negotiation skills and adapt to all the different factors that are involved.
How can you prepare for a negotiation?
Before doing so, keep in mind to:
- Do in-depth research.
- Know what to settle for and when.
- Know when to abort participation.
- Set a specific timeframe.
In collaboration with eCornell, Genashtim is proud to offer the Change Management program for you to reimagine your negotiation skills.
eCornell courses are approved by SkillsFuture Singapore for SkillsFuture Credit as well as by HRD Corp Malaysia under its SBL-Khas Scheme.