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What do you do if your salary negotiation in HR requires research and information gathering?

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If you work in HR, you know that salary negotiation is a crucial skill that can impact your career advancement and satisfaction. But how do you approach a salary negotiation when you need to do some research and information gathering to make a strong case for yourself? In this article, you will learn some practical tips to help you prepare and conduct a successful salary negotiation in HR.

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Poly (Theopoula) Panou

?HR Manager |Talent Management| ICF-ACC Certified Coach | Agile HR Practitioner
Omar Emad

OD Training Specialist at USAID-STEP | Program Officer | Digital Marketing Expert | Freelancer | Udacity Session Lead |…
Roger Valencia Ruiz

Psychologist | Agile Coach | People Analytics | KPI & OKR Developer | HRBP | Trainer of Trainers

1 Know your worth

The first step in any salary negotiation is to know your worth in the market. You need to research the salary range and benefits for your role, industry, location, and experience level. You can use online tools, such as Glassdoor or PayScale, to get an estimate of the average salary for your position. You can also network with other HR professionals, mentors, or recruiters to get some insider information on the salary trends and expectations in your field. Knowing your worth will help you set a realistic and fair salary goal and avoid under- or over-selling yourself.

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Omar Emad

OD Training Specialist at USAID-STEP | Program Officer | Digital Marketing Expert | Freelancer | Udacity Session Lead | Udacity Senior Site Supervisor. I enjoy supporting people to find their new career path
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In preparation for a salary negotiation in HR, Sarah diligently engaged in research and information gathering to bolster her position. First, she focused on knowing her worth by researching industry standards, market trends, and salary benchmarks for her role and level of experience. Understanding her employer's financial health, compensation philosophy, and budget constraints was equally crucial. Sarah delved into company reports, financial statements, and HR policies to gain insight into what the organization could afford and its stance on salary negotiations.

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2 Know your employer

The second step in a salary negotiation is to know your employer's situation and priorities. You need to gather information on the company's financial performance, budget, culture, and values. You can use sources such as the company's website, annual reports, press releases, or social media to get a sense of the company's vision, mission, and goals. You can also ask questions during the interview or performance review process to learn more about the company's needs, challenges, and opportunities. Knowing your employer will help you align your salary request with the company's interests and demonstrate your value and fit.

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Poly (Theopoula) Panou

?HR Manager |Talent Management| ICF-ACC Certified Coach | Agile HR Practitioner
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??In navigating a salary negotiation within HR, thorough research and information gathering are essential. ??Start by gaining a comprehensive understanding of your employer's salary structure, industry standards, and market trends. Investigate salary benchmarks for similar roles in your geographic area to gauge appropriate compensation levels. ??Furthermore, delve into the company's financial health, recent performance, and budget constraints to tailor your negotiation strategy accordingly. ??By arming yourself with this knowledge, you can confidently articulate your value proposition and negotiate a salary package that aligns with both your expertise and the organization's resources.

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3 Know your strategy

The third step in a salary negotiation is to know your strategy and plan ahead. You need to decide when and how to initiate the salary discussion, how to present your research and evidence, how to handle objections and counteroffers, and how to close the deal. You can use techniques such as anchoring, framing, or mirroring to influence the negotiation outcome and create a win-win situation. You can also practice your negotiation skills with a friend, colleague, or coach to get feedback and improve your confidence and communication. Knowing your strategy will help you navigate the salary negotiation process smoothly and effectively.

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Roger Valencia Ruiz

Psychologist | Agile Coach | People Analytics | KPI & OKR Developer | HRBP | Trainer of Trainers
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"La información es poder." Francis Bacon. Te comparto unas estratégias para recopilar información: Benchmarking: Comparemos nuestro salario propuesto en relación con el mercado, ?Qué compensación reciben profesionales similares en otras organizaciones? Redes y conexiones: Las relaciones son nuestro tesoro oculto. Hablemos con colegas, mentores y expertos en el campo. Autoconocimiento: Reflexionemos sobre nuestra propia contribución. ?Cuáles son nuestras habilidades únicas? ?Qué logros hemos alcanzado? Finalmente, recuerde que la negociación salarial no se trata solo de números y cifras. También es una oportunidad para establecer metas profesionales y comprometerse con su desarrollo dentro de la organización.

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4 Know your alternatives

The fourth step in a salary negotiation is to know your alternatives and be flexible. You need to consider what other options you have if the salary negotiation does not go as planned or if you receive multiple offers. You can use the BATNA (Best Alternative to a Negotiated Agreement) method to identify your minimum acceptable salary and your walk-away point. You can also explore other forms of compensation, such as bonuses, equity, benefits, or perks, that can add value to your package. Knowing your alternatives will help you avoid settling for less than you deserve or losing a good opportunity.

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Omar Emad

OD Training Specialist at USAID-STEP | Program Officer | Digital Marketing Expert | Freelancer | Udacity Session Lead | Udacity Senior Site Supervisor. I enjoy supporting people to find their new career path
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With a clear strategy in mind, Sarah outlined her objectives, anticipated objections, and negotiation tactics. She practiced effective communication and negotiation techniques to articulate her value proposition confidently. In addition to her primary offer, Sarah explored alternative compensation components such as bonuses, stock options, or additional benefits to enhance her negotiation leverage. Recognizing the influence of emotions on negotiation outcomes, Sarah practiced emotional intelligence, maintaining composure, and focusing on facts and rationale during discussions.

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5 Know your emotions

The fifth step in a salary negotiation is to know your emotions and manage them effectively. You need to be aware of how you feel and react during the salary negotiation and how your emotions can affect your decision making and behavior. You can use techniques such as breathing, mindfulness, or positive affirmations to calm your nerves and cope with stress or anxiety. You can also use emotional intelligence skills, such as empathy, rapport, or assertiveness, to build trust and rapport with the other party and express your needs and expectations clearly and respectfully. Knowing your emotions will help you maintain your professionalism and composure during the salary negotiation.

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6 Know your results

The sixth and final step in a salary negotiation is to know your results and follow up accordingly. You need to document the salary agreement and confirm the details and terms in writing. You can use email, letter, or contract to formalize the salary offer and acceptance. You can also thank the other party for their time and cooperation and express your enthusiasm and commitment to the role and the company. Knowing your results will help you seal the deal and start your new or improved role on a positive note.

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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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Omar Emad

OD Training Specialist at USAID-STEP | Program Officer | Digital Marketing Expert | Freelancer | Udacity Session Lead | Udacity Senior Site Supervisor. I enjoy supporting people to find their new career path
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Lastly, Sarah ensured she tracked the results of her negotiation efforts, whether it resulted in a successful agreement or provided valuable insights for future negotiations. As Sarah navigated the salary negotiation process, she also considered the importance of timing, flexibility, and the potential impact on her long-term career trajectory. Through meticulous preparation and strategic execution, Sarah approached the negotiation table with confidence and secured a favorable outcome aligned with her value and contributions.

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What do you do if your salary negotiation in HR requires research and information gathering?

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3

4

5

6

7

1 Know your worth

2 Know your employer

3 Know your strategy

4 Know your alternatives

5 Know your emotions

6 Know your results

7 Here’s what else to consider

Training & Development

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What do you do if your salary negotiation in HR requires research and information gathering?

1

2

3

4

5

6

7

1 Know your worth

2 Know your employer

3 Know your strategy

4 Know your alternatives

5 Know your emotions

6 Know your results

7 Here’s what else to consider

Training & Development

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