Even in what can loosely be termed as the good ol’ days, backroom business dealings were handled with cool heads and quick words. Either loudly or in hushed tones, businesspeople came to a meeting of the minds and hashed out whatever parameters they deemed sufficient for the good of all involved. While these conversations now take place in boardrooms, the art of negotiations training is still tactfully employed for business management success.
Mergers and Break-Ups
In business every decision to combine forces does not have to be a hostile situation. Most times, it occurs when one or both companies are looking to grow into a market that has been dominated by another company. However, these acquisitions require a fair amount of negotiating so that each party receives something that benefits them. Payments may occur in cash or stock, but in many cases it’s a combination of the two. Even if the company’s official name is the combination of the two, products may still be sold under each company’s respective title.
Consequently, there are actions that result in the breakup of the smaller company. Generally, this happens as a result of state or federal lawsuits against a company that is seen as holding a monopoly over a particular industry. However, even in this situation, the company being broken up can still maintain some of its holdings and may also still be able to resume services in albeit a smaller fashion.
Everyone at a company employs negotiation at some point. Either for the benefit of the company or for the benefit of themselves. For example, playing a part on a project team that was successful could be cause to ask for a raise. In this, the negotiation training can happen in two ways.
1) Let the successful part you played speak for you. By being willing to chip in and go the extra mile, shows the company that you are worth the investment of a raise. Or additional training that can lead to a raise and even promotion.
2) Notoriety, for yourself and the company. Businesses like to be associated with success. They may feel a need of offering additional compensation to keep you around.
Negotiations Training For Success
Giving employees negotiations training can bring many benefits to the company as a whole. Afterall, the role of negotiation in business is not all about being able to talk the company into a win. Most times it’s about spotting something the other person did not and using that knowledge before it becomes public information. Knowing key information the other party does not can keep the company from suffering a loss they might have otherwise avoided.
In fact, avoiding these failures is a major part of negotiations training. Trying to have the upper hand in order to receive a larger slice of the pie being offered at the table. It may sound like nickel and diming, but being able to talk your way to a place at the table is the first step in mastering this fine art.
The Main Takeaway For Negotiation Skills
Training employees to use their observation and verbal skills for the good of all is something that every business should consider. From small conversations by the watercooler to playing golf on the weekends, negotiation training is business as usual. Negotiating is simply apart of doing business.