Negotiating a Compensation Package: Part 1

Negotiation is a topic that many high potential employees are thinking about. Being able to successfully negotiate can make a big difference for employees’ overall contentment and engagement. However, many wonder how to effectively navigate this. Matt Meuleners, Executive Partner at FOCUS Training, offers three strategies for negotiating a compensation package in this first of two videos.

1. Know your market value. Check out sites like Dept of Workforce Development, Wage Project, Indeed, Salary.com, and Glassdoor. Take your experience into account when comparing yourself to the averages. It is even better if you know the "standard" rates for this type of position in your organization. 

2. Negotiate your benefits. Some organizations have a hard time paying more, but they might be able to make that up with your overall package. Be flexible but clear with your "deal breakers." 

3. Be prepared to talk about what you contribute. Most managers want to hear about the measurable value that you have actually impacted, rather than visions of what you could or might do in the future. Along the same lines, use this opportunity to ask questions about how your performance will be measured in the new role. 

Click above to watch the video, and stay tuned next week for the second part of this video series.