The following items are tagged performance review.
More broadly, how does the desire to negotiate stack up against other workplace decision-making procedures?
Negotiation seems to be the preferred decision-making mechanism when employees are seeking individually tailored solutions, such as adjustments to travel and work schedules.
On the other hand, they prefer their compensation to be based on performance criteria and want companywide policies to dictate entitlements such as vacation, sick leave, and parental leave.
In the mid-1990s, a young JD/MBA student at Harvard was writing a case study about a railroad deal that was ongoing at the time. Somewhat to his surprise, he landed an interview with Bruce Wasserstein, the renowned dealmaker who had pioneered the hostile takeover, and who was a consultant in the railroad negotiations.
It was a fascinating conversation, the student remembers.
“I began to recognize that sophisticated dealmakers play the game at a different level – like a chess game instead of trying to scream and yell louder than others in the room.
“Rather than a frontal assault, sophisticated dealmakers engage in a carefully thought-through sequencing strategy: Get all the pieces lined up, to the point where when you go in the room, it’s basically a done deal.”
Like many of us, this student was hooked by the sweet art of negotiation … and he went on to become a world-renowned dealmaker, instrumental in megadeals such as Oracle’s $10.3 billion hostile takeover bid for PeopleSoft, Cox Enterprises’ $8.9 billion freeze-out of minority shareholders in Cox Communications, the $6.6 billion leveraged buyout of Toys “R” Us, and Exelon’s $8.0 billion hostile takeover bid for NRG.
Advice seeking inherently employs multiple self-presentation tactics (including ingratiation, self-promotion, and supplication), it allows us to improve both our competence and our likability. Think about the last time someone asked you for advice. How did you respond? You probably had at least one of these reactions:
Advice seeking is a versatile negotiation tool, as long as you project the right image and tone. Here are three guidelines:
Many organizations subject their executives to rigorous performance reviews, yet few companies include negotiation effectiveness as one of the core competencies they track. Instead, negotiation is usually subsumed under categories such as “emotional intelligence,” or “persuasiveness.” The negotiator-related questions posed in most “36-degree assessments” don’t measure the right skills and abilities, such as preparation. When evaluators do assess negotiations, they typically rely only on post hoc accounts and overlook the details of the bargaining experience.
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