Career Progression Briefing: Negotiating in Finance

Skills and behaviours that will get you to win-win

Many people think that you are either good at negotiation or you are not - as though it is a talent you are born with. But, in fact, there are some simple skills and behaviours you can learn and develop that will make you more successful. Here are 4 behaviours you can adopt, which will soon become habits you hardly think about: ATTENTION TO DETAIL Do your homework. Think about what is difficult for you and for the other side. Take notes. It keeps you in control, and creates a record of what was agreed. FLEXIBILITY Be prepared to react to the ebb and flow of the conversation, without losing sight of your key objectives. SUMMARISING Summarise and confirm what is being agreed. It reinforces the progress you have made, avoids misunderstandings and provides positive reinforcement.

CONFIDENCE Become a confident negotiator who aims high and achieves better outcomes. by thinking through the process and the concessions that may be required. And here are 3 skills you can work on: SPEAKING You must be able to articulate clearly and simply what you want and explain why. Don’t be aggressive. Don’t give offence. But do be clear and have conviction. Emphasise why you need something – it’s harder for them to say no. QUESTIONING Ask questions. Only by finding out what they care about can you position what you want. LISTENING Leave space. Don’t interrupt. Make sure you understand.

NEGOTIATING IN FINANCE | SKILLS AND BEHAVIOURS THAT WILL GET YOU TO WIN-WIN

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