How comfortable are you with negotiating compensation?

Our reader poll today asks: How comfortable are you with negotiating compensation?

• Extremely – 4%
• Very – 21%
• Somewhat – 42%
• Not very – 28%
• Not at all – 4%

Time to talk numbers. 74% of you report being less than fully comfortable with discussing and negotiating compensation. This is a core skill you need to build. The source of much consternation around the topic is that it feels personal. When we tell people we want to pay them a number that’s lower than they want or expect, it feels like we’re telling them they’re not valuable. Try separating the numbers from the person to make it easier on both of you. Be direct as well. Focus on the value the role generates, comparable market rates, and compensation growth opportunities in the negotiation. Also, be mindful of how much haggling over a small amount could actually cost you. Don’t try to save a couple of thousand dollars and lose a great employee or candidate that will take months to replace and thousands to rehire and retrain.

– Mike Figliuolo at thoughtLEADERS, LLC

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These results were originally a SmartPulse poll in SmartBrief on Leadership which tracks feedback from more than 240,000 business leaders. Get smarter on leadership and sign up for the SmartBrief on Leadership e-newsletter.