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Negotiation Skills

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Step 5 How do I feel going into this negotiation? ... Text PwC to 85792 to receive a link to our WAP Site. Our website: www.pwc.com/uk/careers ... – PowerPoint PPT presentation

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Title: Negotiation Skills


1
Negotiation Skills
www.pwc.com/uk/careers/
2
Negotiation Skills What is negotiation? Why is
it important? How can you start to develop it?
www.pwc.com/uk/careers/
3
  • Understand what we mean by negotiation
  • Recognise when to use negotiation
  • Trace the steps to successful negotiation skills
  • Feel confident to use basic negotiation skills

Objectives
www.pwc.com/uk/careers/
4
Facts...
Voted the UKs number one graduate employer for
the fifth consecutive year Highest ranked
professional services firm in The Sunday Times
Best Green companies ranking Platinum status in
the Business in the Community Corporate
Responsibility Index scoring over 95 for the
fourth consecutive year 26 of partner
admissions were women, bringing the total number
of women partners to over 100 for the first time
in the firms history Launched innovative
partnership with the World Land Trust to
incentivise our people to reduce air travel
4,650 of our people were supported in their
volunteering activities by the firm. 3,700 were
involved in employee volunteering programmes
during working hours, contributing 40,900
hours Contributed 6.8million to the community
(cash, time and in-kind support) Second year of
carbon neutrality
5
What do we offer to students?
  • PwC Graduate Exper1ence Programme
  • Summer Internship Programme (penultimate year
    students)
  • Business Placement scheme
  • PwC Insight day courses
  • PwC Insight Academy
  • Graduate programmes allow you to study for a
    professional qualification as well as allowing
    you to develop the skills and expertise needed to
    BU1LD your career with PwC

www.pwc.com/uk/careers/
6
Who needs negotiations skills?
  • Negotiation skills are some of the core skills
    that employers look for
  • Can you think of some scenarios where negotiation
    skills would come in useful
  • - At university
  • - In the workplace

www.pwc.com/uk/careers/
7
What is negotiation?
Negotiation skills help you to resolve situations
where what you want conflicts with someone elses
interests.
Bargaining to reach a mutually agreeable
decision
Being well-prepared, flexible alert
a discussion intended to produce an agreement
No winner and no loser
www.pwc.com/uk/careers/
8
When should we use negotiation skills? When
we need someone else's consent and they need ours
www.pwc.com/uk/careers/
9
Clients/ Customers
Workplace
Sales
Interviews
Friends
Negotiation scenarios
Job offers
Family
Degree course
Making an offer on a house/flat
Banking/ Legal
www.pwc.com/uk/careers/
10
The 4 stages of negotiation
Preparation
Opening
Bargaining
Closing
www.pwc.com/uk/careers/
11
The 4 stages of negotiation Preparation
  • Preparation is the key
  • Think through the following points before you
    start negotiating
  • Goals
  • Trading
  • Alternatives
  • The relationship
  • Expected outcomes
  • The consequences
  • Power
  • Possible solutions

www.pwc.com/uk/careers/
12
The 4 stages of negotiation Preparation
  • Remember to
  • Realise the other party will need gains
  • Cultural differences?
  • Be flexible a strength, not a weakness
  • Learn from earlier negotiations
  • Find common ground

www.pwc.com/uk/careers/
13
Identify your own objectives..
  • Step 1 Write down all your objectives
  • Step 2 What is my opening position?
  • Step 3 Which of my needs are tradable
  • Step 4 Identify issues open to compromise those
    that are not
  • Step 5 How do I feel going into this negotiation?
  • Step 6 Have I rehearsed (voice and body
    language)

www.pwc.com/uk/careers/
14
Negotiating as part of a team
  • Assigning roles prior to negotiating
  • Leader
  • Good guy
  • Bad guy
  • Hard Liner
  • Sweeper

www.pwc.com/uk/careers/
15
Body LanguageDont forget to consider body
language
  • First impressions?
  • Voice / Tone?
  • Body language?
  • Dr Albert Mehrabian (1950s)

www.pwc.com/uk/careers/
16
The Negotiation
www.pwc.com/uk/careers/
17
The 4 stages of negotiation Opening
  • Making the proposal
  • Which party makes a proposal?
  • Leave room for manoeuvre
  • Listen to the other party carefully
  • Make your first offer unrealistic
  • Do consider rejecting the first offer
  • Make conditional offers
  • Probe the attitudes of the opposition how would
    you feel if.

www.pwc.com/uk/careers/
18
Reacting to a proposal
  • Seek clarification
  • Stall for time if you are not in a position to
    respond
  • Propose alternatives

www.pwc.com/uk/careers/
19
The 4 stages of negotiation Bargaining
  • Adapting your position
  • Reassess your position regularly
  • Adapt strategy in reaction to a proposal
  • Look for mutual interest and points you are
    willing to concede
  • Make your counter offer
  • Prepare to debate the issues
  • Strengthen your position
  • Stay in control

www.pwc.com/uk/careers/
20
The 4 stages of negotiation Bargaining
  • Weaken the oppositions argument
  • Recognise errors in fact logic
  • Test validity of argument
  • Misuse of statistics
  • Financial costs
  • Legal sanctions / injunctions
  • Social / morality boundaries
  • Emotional tactics guilt
  • Dont resort to personal attacks

www.pwc.com/uk/careers/
21
The 4 stages of negotiation Handling a breakdown
in negotiations
  • Limit the damage re-establish communication as
    soon as possible
  • Heal a rift
  • Do not insist on an apology once order has been
    restored
  • Handling intentional breakdowns

www.pwc.com/uk/careers/
22
Closing a negotiation
www.pwc.com/uk/careers/
23
The 4 stages of negotiation - Closing
  • Methods of Closing a negotiation
  • Make concessions that are acceptable to all
    parties
  • Splitting the difference between all parties
  • Giving a choice of two acceptable alternatives
  • Introducing new incentives or sanctions
  • Introducing new ideas or facts at a late stage
  • Suggesting an adjournment when stalemate occurs

www.pwc.com/uk/careers/
24
  • Emphasising the benefits
  • Encouraging and applauding
  • Avoiding a win/lose situation
  • Working towards a compromise
  • Signalling closure
  • Summarising and recording the agreement

Encouraging closure
www.pwc.com/uk/careers/
25
Putting things into practiceYour turn!
www.pwc.com/uk/careers/
26
Feedback How did you get on?...
www.pwc.com/uk/careers/
27
  • Understand what we mean by negotiation
  • Recognise when to use negotiation
  • Trace the steps to successful negotiation skills
  • Feel confident to use basic negotiation skills

Objectives
www.pwc.com/uk/careers/
28
Summary of the core skills you need to hone for
negotiation Preparation Adaptability /
Flexibility Prioritisation Communication
interaction Decision making Bargaining
www.pwc.com/uk/careers/
29
Where to find further information
  • University careers service
  • Text PwC to 85792 to receive a link to our WAP
    Site
  • Our website www.pwc.com/uk/careers/
  • Institute websites ICAEW / ICAS / ATT / CTA /
    FIA

www.pwc.com/uk/careers/
30
Questions?
www.pwc.com/uk/careers/
31
Thank You for Listening Let us never negotiate
out of fear But let us never fear to
negotiate (John F Kennedy)
www.pwc.com/uk/careers/
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