It happens. We rock
and roll along in our career and then – wham!
A blitz. The company announces a
major organizational change. It could be
a merger, acquisition, downsizing, rightsizing or some other sort of
organizational change. As a result, the
company requests you assume new, additional or high-risk responsibilities, or,
potentially, work for a different company.
When a blitz occurs, employees stand stunned, and don’t
always recognize or value their level of influence relative to compensation. If you have ever had this happen to you, you know it feels like your world is swirling out of control. But even
when employers call a blitz, employees retain power and the ability to
negotiate.
Next time a company hurtles a blitz, follow these 4 critical
strategies for successfully negotiating any compensation.
1. Resume control
When discussing the change and your new responsibilities, any
good boss worth his/her salt will promote the change. After all, the company needs you during this
transition. Why? Because the transition – no matter what type
of transition it is – is about business.
Business needs to continue uninterrupted.
Employees often forget their importance, focusing more on the
change itself. No one likes to feel
out-of-control. But feeling
out-of-control weakens a negotiating position.
So the first step is to assume control.
Think about the impending change. What needs to happen? How does your role impact that change? What do you do on a daily basis that must
occur for a smooth transition? Remind
yourself that what you do matters. The
company wants you to stay focused and keep your head in the game.
Point 1: Your role in
ensuring a smooth transition is valuable and critical.
2. Determine whether
you actually want the new responsibilities
With your confidence levels rising, evaluate the new
role. Do you actually want it? Remember: you have options. You can accept the role ‘as is’, offer a
counterproposal, or decline. Think about
your career trajectory. Does the new role fit that trajectory in
terms of responsibilities, scope, subject matter, leadership opportunities,
exposure or any other number of criteria?
If not, do the new responsibilities actually enhance your original
plans? Is the role something you
actually want?
During a change, your responses transcend “yes” or “no”. You can accept the offer ‘as is’, no
questions asked. Or, you can circle back
with a list of questions, perhaps requesting the role be modified. If you choose to decline the role, you don’t
necessarily need to leave tomorrow.
Because ensuring a smooth transition trumps terminating your employment,
you can negotiate a compensation
package related to short-term employment, until the change is finalized.
Point 2: You have
options.
3. Define what you want and what you need to move forward
First, consider all the parameters that make the situation
successful for you. Then compare that to
the proposal on the table. Where are the
gaps? Prepare to discuss those gaps with
your boss.
Second, evaluate the compensation being offered. If no new compensation was offered, then your current package IS the
offer. If the scope of the role and
responsibilities remains unchanged, it may seem like a new package is out of
the question. Not true! If the company is undergoing a major change,
even though the role isn’t changing, something else IS changing. Does your current package – or a proposed
package – meet your expectations for the new environment?
Third – list all the possible rewards you could negotiate: base salary (increases now
and in the future), retention bonuses, transition bonuses, retention grants
(equity awards), vacation, relocation package, etc. The options truly are endless. Don’t limit yourself to focusing just on salary.
Point 3: Articulate
all of your desired compensation
4. Develop an approach for discussing your objectives
Before discussing your conclusion, practice. Practice discussing what you want and what
you need. Remember to:
(1) Thank your boss for exhausting considerable energy on
this transition and for investing personally in your career growth and
development
(2) Affirm your belief in the company and the direction the
company is headed
(3) Articulate the substantial thought you devoted to analyzing
the offer
(4) Explain your decision
(5) Enlist your boss’ help receiving a comprehensive
compensation package that rewards you for your contributions and recognizes the
inherent risk involved ensuring a smooth transition.
Point 4: Compensation
is always negotiable.
*****
Change is strange but it’s also an opportunity for career growth and personal
rewards.
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