Question

Assume that a global IT company has used an executive search firm and through the firm, found you, interviewed you and is keen to offer you a job in their Asia-Pacific headquarters in Beijing as an IT Project Director on expatriate terms. It is not easy tofind people of your calibrewith 20 years of IT project management experience to fill that position. You are keen on the job and is about to enter their interview room for the second time, to discuss your expatriate job package (salary, benefits, learning opportunities, etc.) before you sign on with the company.

In less than 850 words (indicate word count),formulate a negotiation strategy usingthe ten (10)best practices of negotiation that all negotiators can follow. Use yourself (an expatriate job candidate) as an example and elaborate on how you might use the ten best practices of negotiation to conduct a successful negotiation with your prospective employer.

Answer 1

Solution:

Negotiation is a very crucial element in any business transaction. It is necessary that we have appropriate strategies of negotiation in place before we move on to the actual negotiation. Having a defined negotiation strategy helps us in having a concrete direction in which the negotiation should go in order to achieve the objectives of the negotiation. There are various ways in which we can define our negotiation strategy to suit our needs & objectives. One can anytime refer to the standard 10 best practices to negotiate to get the best of their own negotiation strategy.

In the above case, the negotiation is internal, meaning it is the negotiation between the internal company executives. The negotiation, in this case, revolves around setting the salary and perks for the expatriate program I will be joining in a foreign country for the IT project development. In order to negotiate the terms of the expatriate job, I must be aware of all the underlying factors that have led to me being the first choice for the position. This makes it clear that the company has very few choices for this position and hence there is significant negotiation power with them. Also, the expatriate program will attract a higher salary and hence I would need a significant hike in my salary to match the needs and living standards of the foreign country. Hence, these are some of the crucial elements of the negotiation that are important for me as an employee.

To ensure I successfully get the negotiation done I must listen carefully to the executives I am negotiating with and understand the terms of service for the expatriate program. I should also ensure that the discussion is fruitful and there is an appropriate outcome from the discussion. It is also important to ensure that my demand does not become too heavy for the company to fulfill and hence the negotiation should aim towards a win-win situation for both the parties involved to make sure that the outcomes of the negotiation last longer.

Hence, this is how I would design my negotiation strategy with the company executives while discussing my salary and perks for the expatriate program.