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What do you do if you want to negotiate alternative forms of compensation in a business strategy role?

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Navigating the compensation conversation within a business strategy role can be as complex as the strategies you devise. You're at a point where you're considering alternative forms of compensation, which means you're looking beyond the standard paycheck. It's essential to approach this with the same analytical and strategic mindset that you bring to your role. Understanding your value, the company's position, and being prepared to articulate your proposal are key steps in this negotiation process.

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1 Understand Value

When considering alternative compensation, first assess your value to the company. Think about your contributions, unique skills, and how they align with the organization's goals. This self-assessment will give you a solid foundation for negotiation. It helps to quantify your achievements in a way that highlights the direct benefits to the business. Remember, you're making a case for why these alternative forms of compensation are not just deserved, but also beneficial for both parties involved.

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Ohannes Bedrossian, PfMP, PgMP, PMP, RMP, PMO-CP, PMI-ATP

Head of PMO | PMO Manager | Certified Project Portfolio & Program Manager | Risk & Compliance Expert | Helping Organizations with Digital Transformation | PfMP?, PgMP?, PMP?, PMI-RMP?, PMO-CP?, PMI-ATP?
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I start by clearly articulating the value you bring to the organization and how it aligns with the company's strategic objectives. Research and propose alternative compensation options, such as equity, bonuses, profit sharing, or flexible working conditions, that match your contribution and career goals. Engage in open and constructive discussions with your employer to find mutually beneficial solutions that reflect your performance and the company's success.

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Dan Banas

Head of AI, Strategy & Analytics | 'Top 25 Analytics Thought Leader' | 'Top 100 Innovator' | Connector | Storyteller | Sports Enthusiast
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Salary negotiations can lead to interesting insight! From the very beginning steps of assessing your skills, the value you can bring to the marketplace, the overall market situation, relevant compensation from tools like Glassdoor, etc. Best advice is to do your market research and come prepared with data so you are informed and don't sell yourself short!

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John Mathew

??Growth Enabler | Digital Roadmap Consulting?? | Value Design ??| LinkedIn Top Voice ??
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In negotiating alternative compensation in a business strategy role, emphasize the value you bring beyond monetary compensation. Highlight your skills, experience, and potential contributions to the company's growth. Propose options such as equity, performance bonuses, professional development opportunities, or flexible work arrangements to create a win-win scenario.

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2 Company Position

Before entering negotiations, research your company's financial health and compensation policies. Understanding the company's position will help you tailor your request to what's feasible. If the company is a startup or in a growth phase, they might be more open to non-traditional compensation like equity or profit sharing, rather than a higher salary which impacts cash flow.

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Mubeen K.

Founder @ AutoIQ
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You have to assess the situation & focus on understanding company's constraints and aligning requests with its goals and values. Generally I propose professional development opportunities, equity options, or performance bonuses as alternatives that provide mutual benefit. Clear communication about how these forms align with my career goals and contribute to the company's success is key.

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3 Prepare Proposal

A well-prepared proposal is your blueprint for success. Outline the alternative compensation options you're interested in, such as stock options, additional vacation time, or a flexible work schedule. Be clear on how these alternatives can be as valuable, or more so, than a traditional salary increase. This preparation demonstrates your strategic thinking and can help sway the decision in your favor.

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Almir Rogerio Souza

LinkedIn Top Voice | Gestor Comercial | Gerente de Vendas | Coordenador de Vendas | Consultor Empresarial | Especialista em Negocia??o | Novos Negócios
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é necessário elaborar uma proposta clara e fundamentada. Isso envolve identificar os benefícios potenciais para ambas as partes e apresentá-los de forma convincente, destacando como as novas formas de remunera??o podem agregar valor à empresa e aos colaboradores.

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4 Articulate Benefits

When negotiating, it's crucial to articulate how alternative compensation benefits both you and the company. For example, if you're seeking equity, explain how it aligns your interests with the company's long-term success. If you're proposing a flexible schedule, highlight how this can increase your productivity. Your goal is to present these options not as just personal gains, but as strategic moves that enhance company performance.

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Almir Rogerio Souza

LinkedIn Top Voice | Gestor Comercial | Gerente de Vendas | Coordenador de Vendas | Consultor Empresarial | Especialista em Negocia??o | Novos Negócios
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é importante articular os benefícios associados a essas propostas. Isso pode incluir vantagens como flexibilidade financeira, maior motiva??o e engajamento dos colaboradores, bem como a possibilidade de reter talentos-chave na empresa. Esses argumentos refor?am a viabilidade e o valor das alternativas de remunera??o propostas.

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5 Negotiation Tactics

Use effective negotiation tactics such as mirroring and labeling, which involve repeating and acknowledging the other person's points, to build rapport and understanding. Approach the conversation with a collaborative mindset, aiming to find a mutually beneficial solution. Be ready to listen and adapt your proposal based on feedback. Negotiating is a dynamic process, and flexibility can lead to innovative compensation solutions.

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6 Follow-up Plan

After the negotiation, whether successful or not, create a follow-up plan. If an agreement was reached, ensure that the terms are clearly documented and understood by both parties. If the negotiation did not result in your desired outcome, ask for feedback and set a future date to revisit the conversation. Continuous dialogue can keep the door open for future negotiations as circumstances evolve.

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7 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?

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What do you do if you want to negotiate alternative forms of compensation in a business strategy role?

1

2

3

4

5

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1 Understand Value

2 Company Position

3 Prepare Proposal

4 Articulate Benefits

5 Negotiation Tactics

6 Follow-up Plan

7 Here’s what else to consider

Business Strategy

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What do you do if you want to negotiate alternative forms of compensation in a business strategy role?

1

2

3

4

5

6

7

1 Understand Value

2 Company Position

3 Prepare Proposal

4 Articulate Benefits

5 Negotiation Tactics

6 Follow-up Plan

7 Here’s what else to consider

Business Strategy

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