Sunday, February 28, 2010

The Compensation Conversation

Recently I was asked to give a talk on the subject of salary negotiations. I thought, one of Stephen Covey's "7 Habits" to begin with the end in mind. If you follow this habit, you will want to stay away from anything that is negative. Often, unless your talking to a lawyer, negotiation has a negative connotation. It presents an image of adversity in the mind. This brings me to a distinction many people miss once they have received an offer.  

I like to talk about the compensation conversations. It sounds better than SALARY NEGOTIATION, doesn't it? There are some points I remind my clients when they are evaluating a job offer. 
  • You and the company are really not at cross purposes. 
  • They like you; that is why they made the offer. In today's market, people don't hire people they don't like.
  • During the interview, you worked very hard to develop a relationship with the hiring manager, build on that.
  • They don't want your salary/compensation to be a point of distraction when you're on the job. Happy employees are productive employees.
  • While the company has a budget, a $1000 means a lot more to you than to their bottom line. So don't be afraid to ask for what you're worth.

Now let's go back to Covey's second habit. Long before you interview for the job, you'll want to do some planning and critical thinking about the job you are seeking and the compensation you need. I have a worksheet for my clients. There is two parts to the worksheet. First is the job attributes ranking sheet and second is the benefits ranking sheet. 

You need to sit down before the pressure is on and decide what is important to you. Regarding the job fit itself. What do you want in your next position? What things would you like to avoid if possible? For example, some people like strong, clear direction on the job while others like independence with clearly stated goals. What's important to you. Then there are benefits that are offered to employees; what benefits are important and which are essential in order for you to accept a position. For example, some people already have health care through a spouse and health insurance isn't as important as saving for retirement. I tell my clients to do this exercise as soon as then can and to invite their spouse to help them. That is the first part of the homework you'll have to do.

Remember, everything begins with networking and you'll continue to network after you've started your new job. By utilizing your network and doing research at the library or internet, you'll start the next part of your homework in preparation for your compensation conversation. Find out what the market will bear regarding salary and other job benefits. Using tools like salary.com and glassdoor.com you'll discover what the salary range is for your level and position. Ask people at the company what the policies are like regarding vacation or paid time off. Glassdoor.com has actual reviews from current and past employees about the culture at the company.

Once you've got your homework done and an offer on the table it's time for "The Conversation." Everything you do will have "an equal and opposite reaction" and you want to keep things as positive and respectful. That means you need to be straight and not play games. You also need to be clear about what your minimum is. A friend and CEO told me that during the compensation discussion, he impressed his future boss by demonstrating how well he would negotiate for the company after he started. He said he was strong and clear that he wanted a fair deal and that he was ready to walk away if they weren't able to meet his bottom line. He clearly communicated with grace and respect and he got the compensation package he deserved.

The point you need to take away is how important it is to prepare. It's a good idea when you have an offer on the table to discuss it with an objective third party. Call your career or transition coach. If you don't have one call me, at Coach Cunningham Consulting. I'll make sure you're prepped and ready for "The Conversation!"  Call me at 630.319.7587 or email me at tfcunningham@gmail.com

Saturday, February 27, 2010

Agressive Networking


This is a very interesting article that should hit home with many of you. It captures the 80/20 rule and states that regardless of how creative you are, job search requires a 100% effort every day.

It also lays out that fact that you just don't know where your next lead will come from or where it will end up.

Respond back to me and let me know what you think or your experiences...

Click on the CNN Article link to read the story.

Thursday, February 18, 2010

Job Hunting Scripts

    Talking to people is difficult. At least that is what people tell me when they are explaining why networking is difficult for them to do. This is especially true for the "introvert" person, but many feel the same way.

    Aside from the fact that public speaking is one of the greatest fears human beings suffer from, why is it that people find talking to people difficult? I believe it is because we don't know what to say.

    Why do I believe this? Because I've seen people talking at work or church who tell me this. Therefore, people don't like talking to people they don't know. When you are talking to a friend you know what to say and you're comfortable with what they will say to you. So the way to become more comfortable talking to people you don't know is to be prepared.

    The best way I can think of to be prepared is to have scripts available to speak from. This is a great way to talk to people on the phone... even people you know. Telemarketers do this and it seems to work for them. Have you noticed all the phone calls you get around dinner time, even if you're on a "no call" list? Scripts work when you are calling someone, but what about face-to-face meetings?

    Of course you should have a script for face-to-face meeting. You should have scripts for voice mail messages. And you should have scripts for social and networking events. Here are some examples:

Phone Scripts
    "Hello, my name is ___________, and __________ from XYZ company recommended that I call you. I'd really appreciate a few minutes of your time to get some advice about your industry."
    "Hi, this is ____________. I was talking to _____________ yesterday and she suggested that I talk to you..."

Voice Mail Script
    "Hello, my name is ___________, __________ from St. Thomas recommended that I call you, he suggested that we need to get to know one another. Please call me at ___-___-____."

Social or Networking Event Script
    "Hello, I'm ___________, how do you know __________? What do you do when you're not attending parties like this? ... I'm a ____________ in transition it sounds like we might have somethings in common. Do you have a card and I can call you to talk sometime?"

Face to Face Meetings Scripts
    "... The reason I wanted to meet with you was to get your help and advice about your industry..."
    "... You might already know that I am in job transition and I was hoping you'd look at my resume and tell me if you knew of anyone that could utilize someone with my skills and abilities..."

    The above is a good starting point. Next you'll need to build your own scripts and practice them. Make them conversational and comfortable for a give and take exchange. If you need help developing or practicing these scripts ask a friend or call Coach Cunningham Consulting for professional assistance and support. Ask for the Head Coach!

Tuesday, February 9, 2010

Interviewing: Two Questions to Answer

The two most common interview questions asked candidates are:

1. Tell me about yourself?
2. What are you looking for?

   Its really important to have answers to these questions. But don't make the mistakes that most people make. What is the first mistake most people make? These are easy questions and can be answered off the top of your head. They are not simple questions and you need to be prepared. The other mistake people make is akin to throwing spaghetti on the wall hoping something sticks. The candidate who keeps talking until they get a reaction is losing the interview.

   Consider this: in the interview you cannot pass along negative info, a negative vibe or answers that would create a poor perception. So you need to be prepared to answer these questions. However, your responses in the interview need to come across in a confident, positive and natural way. If your replies sound like canned answers they will be discounted. So you really need to have the answers down pat.

   Another thing to consider is who is your audience? What does the interviewer want to hear? When they ask you about yourself, do they want to hear your life story from when you were born up to today? No! They want to know what you bring to the table that will benefit them and their organization. When they ask you about your ideal position they don't what to hear about how you would like to cure world hunger, unless of course you are interviewing with the World Health Organization or UNICEF. They want to hear what roles you could fulfill that would make them look good to their bosses. I have some examples on my website check them out.

   It is important to keep in mind what the interviewer is looking for. People hire people to solve problems and they ask questions to ascertain who can do that for them. Question one is really asking about your skills and abilities. Question two is slanted toward learning about the roles and responsibilities you would be willing to cover. If they are a fit to what is needed on the team, you're moving forward.

   You also want to keep the answers brief, between 50 and 100 words. My examples in the website average 66 words per response. A good answer is general enough to capture the interviewer's attention to envision you in their team. But maybe the most important thing about answering any interview question is to be positive!


Saturday, February 6, 2010

Sales Steps for a Job Search

Analyze his territory and establish opportunities is the first thing a sales person does when beginning a new sales cycle. Job search requires the same beginning and then the job seeker needs to connect with each opportunity, with each person on her contact list. The rest of the steps are as follows:
  1. Build Rapport
    Make a connection with the buyer/interviewer. People buy from people they like. When buying groceries, if you have a choice, do you shop at a store you don't like? Start by making a favorable impression then build a relationship.
  2. Confirm their need (ascertain a new need)
    People hire people to solve problems... what problem needs solving? When you are interviewing look for signs and hints as to what the interviewer is looking for in a candidate, or what the team is lacking. When an interviewer asks you to tell them more about your experience doing X, you can bet he's telling you what he needs.
  3. Align the value proposition with the need
    Make sure the need is real and then communicate your experience in similar situations. If they are having problems with product quality, point out your experience as a quality assurance professional.
  4. Make sure a link is established between the value and the need
    When the interviewer has a need and you have an idea of what the need is, then share a success story about how you've solved the problem in the past and indicate that you can solve similar problems in the future.
  5. Ask for the sale
    Often one of the last questions an interviewer will ask you is, "Why they should hire you?" Have an answer ready with a success story as an example. When the interview is coming to an end, thank the interviewer for their time and tell them how much you would like the job and that you have a great deal of enthusiasm.
  6. Overcome objections
    In sales this is the part of the process where most people drop the ball. The same is true in job search since the major objection is the price- or in the job seeker's frame of reference the salary. Doing your homework first is important so that you're prepared to discuss the compensation package offered. Salary is important, but vacation, health and other benefits are discussion points too. It's always a good idea to ask for some time to evaluate the offer.
  7. Close the deal
    Remember, you've spent a certain amount of time building a relationship with the buyer; count on that to help you close the deal. If they have made you an offer then they see you on the team. So bargain in good faith, be up front and honest, and don't play games; make the best deal you can and set your start date.
Following these steps are required in any job search. They don't always go in order but when you have accepted a job offer and look back over the process you'll find all these elements present in your job search. Another thought... Sales people claim it is easier to sell a product that you like. So like what you're selling... you're selling yourself... you are the product.
Good Hunting...