How can you use the latest negotiation research to advance your career?

Understanding your BATNA is crucial, especially in specialized fields like fraud and financial crimes. This isn't just about market rates; it's about the unique value you bring. A SWOT analysis centered on your expertise can help you set a more robust BATNA, bolstering your negotiation power. Techniques from Chris Voss, known for high-stakes negotiation strategies, can also be applied. For example, Voss's "mirroring" can build rapport and open doors to discuss your specialized skills. His "accusation audits" can preempt objections, putting you in a stronger position. So, your BATNA isn't just a fallback; it's a dynamic element that evolves with your unique skills and the negotiation strategies you implement.

In my time as a procurement manager, I focused almost 60% of my time on finding new suppliers to have a BATNA. Partly for the procurement of new products, but I mainly conducted my market research to find as many as possible new suppliers as alternatives to my current ones. Having an alternative that can deliver the same products or services as your current suppliers, always strengthens your negotiation position as a procurement manager. It was for this reason that I focused 60% of my time on finding new suitable suppliers. Attending as many conferences and exhibits as possible also always helps in finding new suppliers!

It is not alway possible to know your BATNA, sometimes you don't have any before going into the negotiation. This is often the case when you are negotiating a renewal for a specialised service/product or an equipment that can only deployed with a specific client either due to age or technology. In negotiations like this, knowledge of the client is helpful. Knowing their thinking, their willingness to try something new, the importance of the service/equipment and the speed at which they can mobilise a replacement would help in getting a positive negotiated outcome. Of course, a good track record is very helpful. I have been in a couple of negotiations like this in my career and the above have come in handy in getting a good deal for me.

Especially with regard to large or company-relevant deals, it is important to have dealt with the financial positioning and the limits for a deal in advance - for this, BATNA is an ideal framework.

Understanding your Best Alternative to a Negotiated Agreement (BATNA) is a fundamental principle of negotiation research that can significantly advance your career. By knowing your BATNA, you gain leverage and confidence in negotiations. It allows you to set realistic goals and boundaries, assess the value of potential agreements, and make informed decisions. In career advancement, this means you can effectively negotiate for promotions, salary increases, or better job offers by knowing when to accept an offer and when to walk away. Additionally, a strong BATNA can enhance your perceived value in the workplace, as others recognize your negotiation skills and ability to secure favorable outcomes, furthering your career prospects.

Although I personally like to open my negotiations realistic and pragmatic, the majority of books and articles about negotiations will tell you to open extreme and come to a deal by making small steps towards the other party afterwards. I truly believe that if you have a good and open relationship with your suppliers, you should take the opportunity by agreeing not to open extreme.! Opening extreme as a start of your negotiation will make sure you will lose a lot of time: it is not efficient. In my negotiations, I asked my suppliers - as a test - to open the negotiation with proposal 1 in a very pragmatic way. If they did, I mirrored and rewarded them by doing the same in my first proposal and the other way around!

In simplistic terms, anchoring is the strategic setting of an initial offer. It might be an aggressive high anchor to stretch the perceived value of what is wanted, or a moderate anchor to appear reasonable and cooperative. You must always consider the context and information available, such as market prices and the other party's preferences, to tailor an anchor effectively. Additionally, anchoring can be used to frame concessions. By starting with an extreme offer, you can later make more reasonable concessions that still seem significant to the other party. This makes the final compromise feel like a victory for both sides. Always be flexible and prepared to adapt your strategy based on the reactions and dynamics of a negotiation.

Anchoring isn't just setting a starting price; it's a statement of your unique value, especially in specialized fields like fraud investigation. The first offer serves as an anchor that not only sets the financial terms but also highlights your specialized skills. Chris Voss's techniques can add a psychological edge here. For example, employing "accusation audits" can mitigate objections to your initial ambitious yet realistic offer. Back this up with solid metrics or case studies that quantify your specialized expertise. Remember, the first offer you make also lays down the terms for any non-monetary perks you can provide, like post-project support, making you more than just a service provider but a valuable asset.

Using anchoring strategically, as informed by negotiation research, can be a powerful career advancement tool. Anchoring involves setting the initial reference point or offer in a negotiation. By skillfully anchoring, you can influence the entire negotiation process. For career growth, this means confidently presenting your desired outcomes or proposals first, setting a positive tone, and guiding the discussion in your favor. Anchoring can lead to more favorable salary negotiations, better project terms, or improved job offers, helping you achieve your career goals while showcasing your negotiation prowess and decisiveness, which can positively impact your professional reputation.

Too many negotiators start their negotiations about what is important to them. I believe that a 100% clear understanding of the negotiation opponent via Empathic negotiation design is the key to any successful negotiation result. Whether you’re experienced or new to the field of negotiations, you will need to manage emotions effectively to achieve better results! The better you are in preparing a detailed understanding of your counterpart, the better your results will be. Empathic negotiation design requires that you are able to listen in order to fully understand the other party’s perspective. Understanding what your negotiation counterparts’ values are, what drives them, and what their hobbies & core values are, will drive your results.

Different scenarios call for different ranges of emotion or "tone setting". Showing understanding in a win-win scenario can help close a deal, whereas in other areas you need to show your dissatisfaction and take on a more assertive approach. You could also go through various stages of emotions in the same negotiation. Key piece of advice is always take a breather and regroup thoughts or even bounce ideas off a teammate or friend to make sure you don't say or act irrational and risk ruining your negotiation.

1) Prepare - Research and know your goals. 2) Set expectations - Be realistic about outcomes. 3) Active listening - Understand the other party's viewpoint. 4) Pause and reflect - Take a moment before responding. 5) Empathise - Show understanding for emotions on both sides. 6) Stay calm - Practice mindfulness techniques. 7) Use "I" statements - Express emotions without blame. 8) Learn from experience - Analyse and improve after each negotiation.

Managing emotions in high-stakes negotiations, like those in fraud investigation, is crucial. Chris Voss's techniques, such as "mirroring," can help you gauge and manage emotions, yours and theirs, effectively. While it's advantageous to convey sincerity or enthusiasm, it's vital not to let emotions cloud rational judgment. Here, your specialized skills can serve as an anchor for rationality. If emotions run high, steer the discussion back to your unique expertise, re-establishing a rational yet emotionally positive climate. The goal is a balanced approach where emotions are neither suppressed nor allowed to overrun logic, making your negotiation stance both emotionally attuned and rationally compelling.

Managing emotions effectively, a key facet of the latest negotiation research, is paramount for career advancement. Emotional intelligence in negotiation enables you to maintain composure, empathize with others, and build trust, all of which are essential skills for professional success. By understanding and regulating your own emotions, you can handle high-pressure situations, maintain professionalism, and make rational decisions. This not only enhances your negotiation outcomes but also elevates your reputation as a composed and adept professional, opening doors to leadership roles and opportunities for career advancement. Furthermore, it fosters positive working relationships, a vital asset in any career journey.

One of the challenges for every negotiator when it comes to incorporating social norms, is whether to use bluffing yes or no. Bluffing is a good tactic to get you out of any unwanted situation in the negotiation, but it requires great skill to avoid falling over! If you are going to bluff, make sure to always be aware of what you will do if your bluff is called: have a backup plan! Bluffing, while it may be ethical, does entail risk. The bluffer who is called loses credibility and it can get out of hand. Also remember, that most negotiations are carried out with people with whom you will have a continuing relationship. In my years as a negotiator, I tried to avoid bluffing as much as possible, because I liked to have my facts straight.

Many of us determine our BTNA subconsciously. This becomes apparent when we switch teams or companies. The social norms of a company/industry dictate the quality and speed at which work is completed. Over the years I have learned that "ASAP" means different things to universities, nonprofits, and corporations. Some work environments expect internal presentations to be in final form while others encourage the sharing of ideas in a draft form. Due to the variances in workplaces (industry and geographical locations), I find it important to ground my BTNA not only in the social norms of my company but also of my customers- I seek to understand their expectations before determining the most effective alternative to a negotiated agreement.

In specialized fields like fraud investigation, social norms such as trust and expertise carry significant weight. Utilizing Chris Voss's techniques, like "mirroring," can help you align with these norms, showing respect for the other party's values and beliefs. Your unique skills offer an added advantage. In sectors where specific expertise is highly valued, adhering to this social norm can bolster your negotiating position. By strategically highlighting your specialized capabilities, you're not just meeting economic goals but also aligning with social expectations. This dual alignment doesn't just satisfy unwritten rules; it can be a potent element in your negotiation toolkit, contributing to more favorable and value-added outcomes.

Incorporating social norms, as suggested by cutting-edge negotiation research, can significantly benefit your career advancement efforts. Social norms play a crucial role in shaping behavior and expectations in negotiations. By aligning your negotiation style with prevailing social norms and etiquettes, you not only facilitate smoother interactions but also project yourself as a team player and collaborator. This can enhance your professional image, foster positive working relationships, and create a reputation for being respectful and considerate, all of which are invaluable assets for career growth. Adherence to norms also helps navigate office dynamics, facilitating career objectives and advancement opportunities.

Learning from feedback, a principle informed by the latest negotiation research, is a career advancement accelerator. Constructive feedback, whether from colleagues, superiors, or clients, offers valuable insights into your negotiation skills and professional growth areas. Embrace this feedback as an opportunity for improvement. By showing a willingness to learn and adapt, you not only enhance your negotiation effectiveness but also display a growth-oriented mindset that can propel your career forward. Actively seeking and applying feedback demonstrates your commitment to self-improvement, which is highly regarded in any professional setting, fostering trust and respect among peers and superiors.

Feedback is crucial for honing negotiation skills, especially in specialized fields like fraud investigation. Whether applying Chris Voss's techniques or your own, diverse feedback from peers and mentors offers actionable insights. Use it to fine-tune both general tactics and your unique, specialized skills. Analyze this input to identify your strengths and areas for improvement, then set achievable goals for future negotiations. In essence, feedback is an ongoing, invaluable tool for skill development and career growth.

It is essential to, next to studying the latest research, to make sure to fully KNOW the person you are going to negotiate with. Remember: It is people who negotiate, not companies. Tactic X will work better on some people than tactic Y. If you want to learn more about on trends and tips & tricks for your upcoming negotiation, feel free to contact me!