Sara Laschever

Harnessing the Power of Negotiation as a Strategy for Success

American College of Gastroenterology Women in Gastroenterology Forum September 19, 2014

© 2014 Sara Laschever [email protected]

How do women get things done? •

Asking questions

•

Listening actively

•

Paying close attention to nonverbal communications

•

Explaining our points-of-view

•

Collaborating to find good solutions that work for everyone involved ….Negotiating

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Sara Laschever

But women don’t like to negotiate, and suffer ff as a result: lt In I lost l t income, i missed i d opportunities, delayed career progress, and limits on how high they rise in their professions.

Men initiate negotiations on their own behalf—ask for things for themselves— on average four times as frequently as women do.

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Sara Laschever

Women who consistently negotiate their salary increases earn at least $1 million more during their careers than people who don’t.*

*Get Paid What You’re Worth, Pinkley, Robin L. & Northcraft, Gregory B. (2000). New York: St. Martin’s Press.

Difference in 2.7% versus 4.3% raises $213,941

2.7% Raise 4.3% Raise

$110,052

$35,945 $36,505

Salaries at 22 Gap is $560

ACG Women in Gastroenterology Forum - Chicago, IL Copyright 2014 American College of Gastroenterology

Salaries at 65 Gap is $103,889

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Sara Laschever

Difference in 2.7% versus 4.3% raises $213,941

2.7% Raise 4.3% Raise

$110,052

$35,945 $36,505

Salaries at 22 Gap is $560

Salaries at 65 Gap is $103,889

Lost Earnings are $2,120,731

Learn to ask

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Sara Laschever

Don’t accept the status quo; assume everything is negotiable

Assume everything is negotiable Start date Si i bonus Signing b Leadership roles Office location Office size Budget Flexible schedule Travel allowance Commuting stipend Trailing spouse assistance • Review schedule

• • • • • • • • • •

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Staff support P Pregnancy l leave Moving costs Sabbaticals Tuition assistance Low-cost housing loans Temporary p y housing g stipend • Retirement contributions • Remote work arrangements

• • • • • • •

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Sara Laschever

Assume everything is negotiable • Washing dishes • Grocery G shopping h i • Meal prep • Housecleaning • Laundry • Ironing p • Home repairs • Car care • Yard work • Hiring help • Vacation plans

• Managing finances • Taking extended pregnancy leave • Getting kids off to school • Helping with homework • Taking kids to sporting events • Attending school conferences • Reading bedtime stories • Eldercare responsibilities

Figure out what you want

• Review your goals • Think about what’s missing • Ask yourself what you’ll regret

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Sara Laschever

Figure out what you want Short-term • Intangibles (respect, rewarding work, congenial colleagues, opportunities to learn or express yourself creatively) • Specifics (more money, a specific promotion, resources) g Long-term • Intangibles • Specifics

Include a few things that would be nice but are not essential

Assess the strength of your position Sources of power in a negotiation: 1. Preparation 2. Value 1. Alternatives (BATNAs) 1. Tactics

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Sara Laschever

Power from: Preparation

The most important part of a negotiation takes place before you get to the bargaining table

Research comparables • What are people with your qualifications earning? i ? —At your institution or organization —At your employer’s competitors —In other, allied fields • What kinds of opportunities are your peers being offered? —At your institution or organization —At your employer’s competitors —In other, allied fields

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Sara Laschever

Collect information about the other side • Who has the information you need? • What are the institutions standards of fairness? • What don’t you know that could influence the outcome of your negotiation? • Would there be any costs or benefits to delay? y • What are the norms of the situation?

Assess uncertainty. (What don’t you know?)

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Sara Laschever

What are the norms of the situation? • What is expected? • What is acceptable? What might not be? • What is a typical timetable? —1 minute or 1 month? —Immediately or in the indefinite future? —One session or multiple sessions? • Where do negotiations typically take place? • Do people usually negotiate face-to-face? • Are you expected to provide information in advance? Bring anything with you?

Power from: Your value (what you bring to the table) • • • • • • • • • •

Education Work experience Talent Seniority Professional reputation Historyy of accomplishments p Contacts in your field Social skills Flexibility You’re a woman

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Sara Laschever

What do you bring to the table? • What are your strengths? • Do you have an special skills? Valuable experience? Useful contacts? • Have you achieved anything noteworthy recently? Won any prizes? Published in a highly ranked journal? Solved a problem for your employer or group? Compile a thorough inventory of your credentials, accomplishments, and connections

Power from: Alternatives (BATNAs) • Best • Alternative • To a • Negotiated • Agreement

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Sara Laschever

BATNA Best alternative to a negotiated agreement • If you don’t get what you want, what will you do? • What’s the best choice you can make for yourself if the negotiation is not a success? • If you can’t persuade the other negotiator to give you what you want, what’s what s your fallback position? • Sometimes your BATNA is the status quo; sometimes it’s another option

Sources of bargaining power: Alternatives (BATNAs) • Your BATNA —The better your BATNA, the more power you have —The weaker your BATNA, the more power they have • Their BATNA —The better their BATNA, the less power you have —The weaker their BATNA, the more power you have

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Sara Laschever

How strong is your BATNA? • If you don’t get what you want, what will you do? d ? • What’s the best choice you can make for yourself if the negotiation is not a success? • Do you have a fallback position? Take time to reflect on all your options if you can’t reach a good agreement.

Power from: 4. Tactics

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Sara Laschever

Collaborative or interest-based bargaining • Compatible interests often lie beneath opposing positions • Interest-based bargaining allows you to: —Satisfy both sides’ underlying needs —Find Find creative solutions —“Enlarge the pie” —Reach joint gains or win/win agreements

Collaborative (interest-based) negotiating strategies • Address core interests —Ask questions —Listen • Find out what problems they foresee in giving you what you want —Build trust and share information

©2014 Sara Laschever [email protected]

• Work together to solve their problems while still addressing your wishes —Be creative —Brainstorm —Logroll

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Sara Laschever

What are your vulnerabilities?

Try to increase your bargaining power • Is there anything you can do to strengthen your position? —Acquire additional credentials or another certification? —Work with a particular person or group? —Bring in more revenue? —Help recruit talented faculty members or students? —Volunteer for a service role? —Raise your professional profile? —Tap your networks? —Call on a mentor or sponsor for help?

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Sara Laschever

The single most powerful tool for winning a negotiation is the willingness to get up and walk away from the table without a deal.

Set a high target (AV) • Your target should be: —Better than your bottom line —Ambitious (pushing the upper limits of what’s possible) —Something you’d be thrilled to get

Use your research!

©2014 Sara Laschever [email protected]

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Sara Laschever

How do you determine the right target? Search for information that establishes: • Precedents • Standards of fairness • Market prices • What is possible • The other side’s BATNA and RV

MANAGE YOUR ANXIETY

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Sara Laschever

The role of emotions in negotiation Negotiation causes anxiety because: • Lack L k off control t l (worry ( about b t losing l i face, f b i being vulnerable) • Unpredictability (most people are uncomfortable with uncertainty) • Absence of feedback (never know how well you’ve done, hard to feel a sense of accomplishment, leads to worry about competence)

© 2014 Sara Laschever [email protected]

The role of emotions in negotiation Negative emotions • Divert your focus from substantive issues • Make it hard to follow through with your plan • Produce impulsive decision-making • Limit your ability to listen and think creatively • Make you vulnerable to being exploited • Can harm yyour reputation p • Can damage your relationship with the other negotiator • Lead to inferior agreements • Are contagious © 2014 Sara Laschever [email protected]

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Sara Laschever

The role of emotions in negotiation Positive emotions • Make it easier to reach an agreement •

Encourage creativity

•

Enhance problem solving

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Protect and improve relationships

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Limit your risk of being exploited

•

Lead to better agreements for both sides

•

Are contagious

© 2014 Sara Laschever [email protected]

Prepare ahead for emotional pitfalls • Enhance your skills and build your confidence • Anticipate flashpoints —Challenges to your value proposition —Negative or unfair evaluations of your work —Reminders of past errors —Unflattering U fl tt i comparisons i tto other th people l —Accusations of disloyalty

© 2014 Sara Laschever [email protected]

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Sara Laschever

Combat anxiety by role-playing • Write down your plan • Brief your partner • Rehearse • Debrief • Repeat, repeat, repeat

© 2014 Sara Laschever [email protected]

Compose calm responses that… • • • • •

© 2014 Sara Laschever [email protected]

• • •

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Switch the focus to your strengths instead of your weaknesses Describe how your request promotes the institution’s goals and long-term strategy Explain why your request is legitimate Show why it’s in their interest to accept your proposal Refers to precedents or third-party endorsements for the deal Promote a positive relationship Put the ball back in their court Get them to explain their point-of-view

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Sara Laschever

Move toward joint problem-solving • “You look surprised. What would seem more reasonable to you? you?” • “How close can you come to my figure?” • “We’re really far apart. Maybe you can you meet me part-way.” • “I don’t want to fight. Let’s try to work this out.” • “What do you think would be appropriate? I want to understand your point-of-view.” © 2014 Sara Laschever [email protected]

Prepare ahead for emotional pitfalls • Get yourself in a good mood —Exercise Exercise or meditate beforehand —Go for a walk —Listen to music —Have lunch or coffee with friends • Use power poses —Watch Amy Cuddy’s TED Talk, “Your Body Language Shapes Who You Are”

© 2014 Sara Laschever [email protected]

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Sara Laschever

Put it all together

Be careful how you ask • Adopt a social manner that conveys competence without seeming threatening • Make an effort to seem likeable • Think about how the other side sees the situation and what they want

© 2014 Sara Laschever [email protected]

ACG Women in Gastroenterology Forum - Chicago, IL Copyright 2014 American College of Gastroenterology

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Sara Laschever

Solve their problems • They’re not getting enough of what they want (what else can you give?) • They’re afraid of repercussions (can you mitigate these?) • They’re stalling (find out why) pp the benefits of • Theyy don’t fullyy appreciate your proposal (explain them better) • BUT—sometimes there’s no room for a deal—better to walk away © 2014 Sara Laschever [email protected]

Close the deal • Focus on your target • Don’t let yourself be rushed • Remember to ask ‘why?’ • Step away from the fray • Take a break • Wait and listen; don’t rush to fill silences

© 2014 Sara Laschever [email protected]

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Sara Laschever

saralaschever.com www.womendontask.com hnz.cm/women-negotiate [email protected]

Carnegie Mellon Leadership and Negotiation Academy for Women hnz.cm/women-negotiate

• “The instructors are fantastic and the curriculum world-class.” • “Game-changing!” • “Inspiring, thought-provoking, engaging, and challenging, with lots of takeaways for use in all areas of y your life.” • “The most amazing group of teachers, coaches and participants I have ever encountered in one seminar.” • “A phenomenal personal growth opportunity for me….

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Sara Laschever

Recommended Reading

© 2014 Sara Laschever [email protected]

• Getting to Yes by Roger Fisher and William Ury • Getting Past No by William Ury • Negotiating Genius by Max Bazerman and Deepak Malhotra • Beyond Reason: Using Emotions as You Negotiate by Roger Fisher and Daniel Shapiro • Talking from 9 to 5: Women and Men in the Workplace: Language, Sex and Power by Deborah Tannen • Harvard Business Review on Women in Business by Harvard Business Review Press • Why Women Mean Business: Understanding the Emergence of Our Next Economic Revolution by Avivah Wittenberg-Cox and Alison Maitland

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