The Power 5M of Salary Negotiation

Negotiating is like working in a construction industry wherein you have to consider 5-M’s of Organization’s Structural Elements such as Manpower or Management, Materials, Machine or Equipment, Methods or Construction Procedures & Execution and Money. The stability of these resources ensures successful and profitable completion of the project being undertaken. However, in the absence o just one of these elements or failure to adopt the organizational structure, policies and procedures with respect to the growth in size and complexity of a certain projects shall mean loss of energy, time and money.

Salary negotiation will likewise uses the power of 5-M’s of Bargaining;

Mindful - Awareness of the things to be negotiated. Is it the right timing for you to demand? What are the things necessary to be adjusted such as current statistical ranges of salary of the same fields, the current market currency rates, or your workloads itself? What is the lowest offer your employer can find for an instance they would prefer to replace you?

Machinate – Organize things to be ironed on the negotiation platform. Are you aware on your skills/craft that makes you more valuable than the others? Do you have the advantage with respect to your skills/craft over the others? Remember that during your negotiation talk, you’ll be time-pressured because you have just short span of time to express and explain your thoughts concisely. However, as long as you can sense a room for consideration, there’s no wrong of humbly, honestly and politely requesting to give you an hour or a day to think about it in order for you to finalize your decision.

Mutuality - The ability to give and take. It should not only be take and take. You should learn to accept what is reasonably being given to you. Of course, don’t give and give also. Don’t give a lot commitments that unbelievably possible to fulfill. Listen more and speak less but don’t be mere timid and simply nodding. By the way, you can skip this stage if you have developed a good rapport to your boss? You have shown your ability and been productive in everything you’ve done. Most often, amateur bargainers missed -out to build a good relationship with his/her superior prior to re-contract signing. Don’t you know that your boss will be your best weapon to defend your demand?

Monetize - Figure-out the equivalent value and relevance of some company’s benefits such as health care, dental, refundable taxes, free accommodation, free meal allowances or free meals in the office cafeteria, company paid electricity and gas, paid vacation, free airfare ticket, family status benefits including education of children, bonuses or profit-sharing, allowable leaves or vacation, etc. Demand right price to your service.

Manage – Use your impromptu-wisdom to analyze the offer speedily and reasonably. Politely and constructive argue if requires necessary. You have to respond to the offer in a way that with great intention and vision for the company. Be mature or be on guard! In most cases, employers are wiser than you. Once you agree and signed, there’s no turning back. Some employers do dirty techniques just for you to be convinced right away. Most often than not, employer will promise to you a level-upgrade after a month or three, etc . But I tell you, it is better noted to be written in black and white. Or some employers will try to trigger your emotions by insulting you or try to renegotiate a contract after signing it.Therefore, right from the start, in order for you to manage the bargaining favorably to you, you should know your price.

In finale, negotiation or bargaining is a learning process that should mature prior to any contract signing, otherwise, failure to negotiate with your standards and utmost satisfaction will end-up with regrets and self-pity. Happy Bargaining!