Project 2012: Day 359
“We’d like to offer you the job.”
Is your hunt for your dream job over?
Not by a long shot.
We now enter into the 5th and final phase of your hunt. The profiting phase. But this is as critical as the preparation, planning, practicing, and pursuing phases.
Time to negotiate.
A couple of key principles:
- There is always a negotiation
- You must have a BATNA
As a hiring manager, my job is to get the best talent I can, for the least cost to the company. So, like any transaction, generally I’ll start in the ball park, but at the lower end of the scale. This gives me room to promote, reward people, not to mention keeps the costs down.
Next week we’ll talk about confidence in your value to the organisation.
This week I want to talk about the BATNA.
Power in a negotiation is about choices. The BATNA is your “Best Alternative to a Negotiated Agreement.” In a word, it’s your way of walking away from a bad deal.
And you must have one.
Which is really difficult when you need an income.
When I was looking for my last job, Lucy asked me if I’d take the first one I was offered. “Depends on what they offer me?” was my response. She struggled with that because she felt that any income was better than none. Which made me struggle with it.
But unless you have an alternative, you can’t negotiate for what you’re worth.
So figure out practically what your alternative is. How many more days/weeks you can last, could you sell some assets, would you need to move, could you stay in your current role, could you contract to tide you over? Write these down so when you’re made an offer you can compare them (relatively) objectively.
Also, so you can show your spouse.
Of course if you have a job offer from another firm, or even if another opportunity is looking promising (at the 80% mark where they’re checking references), that is your BATNA.
More than one alternative offer shifts you to the driving seat in the negotiation. Which in turn makes you all the more valuable.
Always have a BATNA…