Bold in Negotiation Part 4

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Welcome to The Bold Brief—

You are a member of this community of top-notch expert nurses and healthcare professionals who aspire to be “bold” in career and life. We want to be bold in our life’s purpose and bold in life and career choices to live with authenticity, balance, and meaningful challenges.

We’ve reached the 4th and final installment of Bold in Negotiation, our transformative 4-part series designed to empower nurses and healthcare professionals to master salary and benefits discussions as they step boldly into non-traditional roles.

In our previous editions, we explored the Part 1 foundations of negotiation, Part 2 how to research and prepare, and Part 3 the value of non-salary benefits. Now, it’s time to pull it all together with advanced strategies to close the deal. Whether you're negotiating for salary, benefits, or both, the right tactics can make the difference between a good offer and a great one.

So…bold in negotiation.

Understanding Negotiation Strategies

Closing the total salary and benefits negotiation is about guiding the conversation to ensure mutual success. Advanced strategies like anchoring, bracketing, and creating leverage enable you to negotiate assertively while maintaining a win-win mindset. By mastering these techniques, you can turn a nerve-wracking discussion into an opportunity to secure a compensation package that reflects your true value.

Remember, a successful negotiation isn't about "winning" but about crafting an agreement that benefits both you and your employer.

Evidence Underpinning Negotiation

Studies show that the first number presented in a negotiation often sets the psychological baseline for further discussions. This makes a strong, data-driven anchor essential.¹ However, other research has shown that there may be a second-mover’s advantage.²

What Good Negotiation Mean for Your Work and Life

• Life: Closing the full salary and benefits deal effectively empowers you with the confidence to advocate for yourself in other areas of life. You’ll feel more in control of your career path and personal goals.

• Career: By mastering negotiation strategies, you establish yourself as a professional who knows their worth and boundaries. This not only enhances your compensation but also sets a positive tone for your working relationships.

• Financially: Securing better salary and benefits packages has a compounding effect over the lifetime of your career, significantly impacting your long-term financial security and wealth-building potential.³

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6 Steps to Close the Deal

Step 1: Set the Anchor

The first number presented in a negotiation often sets the psychological baseline. Begin with a strong, data-backed number based on your research. This sets the psychological starting point for negotiations. For example, if you’re targeting $120,000, anchor with $130,000 to create room for flexibility.

Step 2: Bracket Strategically

Define a range that allows for give-and-take while staying within your target. For example, you could say, “I’m seeking between $125,000 and $135,000, depending on the overall package.”

Step 3: Use the 20-10 Rule

Requesting 20% more than your target and aiming to settle within 10% of it creates an effective range that maximizes outcomes. Start 20% above your well-researched ideal number and aim to settle within 10% of it. This keeps you in control of the range and ensures you don’t settle for less than you deserve.

Scroll down to get my FREE PDF Advanced Negotiation Scripts & Email Templates!

Step 4: Create Leverage

Negotiators who leverage their unique value consistently secure better terms. Plan to highlight your unique value. Mention specific skills, accomplishments, or competing offers (if applicable). For example, “With my experience in clinical project management and organizational leadership, I’m confident I can drive immediate results in this role.”

In your industry resume, I taught you to showcase the measurable impact and outcomes you’ve had in your clinical role. Did you improve patient care efficiency for the unit? Reduced error rates, contributing to the success of the unit or organization? These are metrics that industry hiring managers appreciate that can create leverage.

Step 5: Maintain a Win-Win Mindset:

Emphasizing mutual benefits improves trust and increases the likelihood of a positive outcome, which is particularly valuable in long-term professional relationships. Position your requests as solutions that benefit both you and the employer. For instance, frame professional development funding as an investment in your ability to contribute more effectively, or faster.

Step 6: Get Everything In Writing

Once terms are agreed upon, ask for a formal offer letter detailing salary, benefits, and any negotiated perks. This protects both parties and prevents misunderstandings.

As you move forward with your plans for a bold career and life change, take these steps and reflections seriously. They are the foundation upon which you can build a happier, more satisfying professional and personal life. Each step is designed to ensure that the changes you make are deeply rooted in your personal truth and professional aspirations.

Why This Approach Works

This approach works because:

• Psychological Advantage: Anchoring and bracketing guide the conversation in your favor while leaving room for flexibility.

• Increased Credibility & Trust: A win-win approach and leveraging your value demonstrate professionalism and alignment with organizational goals.

• Empowered Decision-Making: By following structured frameworks, you’ll feel more confident and prepared, reducing negotiation anxiety.

This FREE Download is a 4-page guide featuring sample advanced negotiation scripts and email templates to help you confidently negotiate salary and benefits. These tools will help you navigate discussions with professionalism and clarity.

End 2024 and Start 2025 Right: In the next Bold Brief series, I will teach you my very successful strategies for goals setting and goal attainment in life and career!

Conclusion

Negotiation is a skill that blends preparation, strategy, and emotional intelligence. By mastering advanced techniques like anchoring, bracketing, and leverage creation, you can close the deal with confidence and leave the table knowing you’ve secured what you’re worth.

This concludes our Bold in Negotiation series. As you prepare for your next opportunity, revisit these principles and practice them. Bold moves lead to bold results!

Remember, the bold career and life that you desire is not just a dream—it's within your reach. Let's make it a reality together.

P.S. If you want to learn from me on a daily basis, come connect with me on LinkedIn or in my Facebook Community.

Remember that this is a dedicated space for you, the nurses at the bedside and beyond, the committed healthcare professionals ready to explore transformative career paths beyond traditional roles. Every week, we'll dig into evidence-based strategies, insights, and stories designed to empower you to take bold steps toward a fulfilling career and life outside the hospital setting.

1  Why do we compare everything to the first piece of information we received? Link

2  Low Power, First Offers, and Reservation Prices: Weak Negotiators are Self‐anchored by Their Own Alternatives. Link

3  Salary Negotiation Statistics 2024 — 20 key Figures. Link