How to Negotiate a New Employment Contract That Better Meets Your Needs and Interests
Are you hunting for new opportunities? Applying for a promotion? Now is the perfect time to adapt your employment contract to your individual circumstances. Here’s how to negotiate for the optimal contract in the most efficient way.
Decide your focus
Practically any business variable can be negotiated. Therefore, you need a streamlined set of priorities. Begin by considering all of the terms and conditions of your employment.
Commonly negotiated variables include:
Divide those into “must-haves” and “nice-to-haves”. State your priorities clearly at the start of the conversation. You also need acceptable alternatives, in case your initial wants can’t be met. This is one of the most important steps in preparing for a new job, whether you’re changing companies or not.
Common ground is easier to find when you and your employer are aware of each other's non-negotiable values. What makes or breaks the deal for you? What are you willing to trade? The “nice-to-haves” are great bargaining chips for compromising.
Stick to your strengths
Decide your focus
Practically any business variable can be negotiated. Therefore, you need a streamlined set of priorities. Begin by considering all of the terms and conditions of your employment.
Commonly negotiated variables include:
- Salary
- Paid time off
- Flexibility
- Growth opportunities
- Bonuses
- Health insurance
- Parental leave
Divide those into “must-haves” and “nice-to-haves”. State your priorities clearly at the start of the conversation. You also need acceptable alternatives, in case your initial wants can’t be met. This is one of the most important steps in preparing for a new job, whether you’re changing companies or not.
Common ground is easier to find when you and your employer are aware of each other's non-negotiable values. What makes or breaks the deal for you? What are you willing to trade? The “nice-to-haves” are great bargaining chips for compromising.
Stick to your strengths
|
You mustn’t undersell yourself, but you also mustn’t overplay your position. It’s a difficult balance to strike. Start by reviewing and updating your resume and portfolio. How have your skills improved over the years? What results do you boast?
Know where your strengths lie, so you can leverage them in the negotiation. Likewise, know your weaknesses, so that they can’t be leveraged against you. |
You have to convince your employer that the value you bring is worth the investment you’re asking of them.
For example, some upcoming trends that HR departments are focusing on are virtual reality training, AI know-how, and efficiency in remote work and learning. If you’re negotiating for managerial employment, demonstrate your commitment to employee health and wellness, maintaining a healthy company culture, etc.
Identify one to three areas in which you can claim expertise. Focus on applying those to the company’s benefit. Show the hiring managers how selecting you for the position is better than selecting your competitors. You might also hint at the losses they would incur by letting competition snag your talent.
Get appropriate legal help
Navigating the legal and business side of employment negotiations can get tricky. If you ever feel unsure about what’s what, get in touch with employment contract lawyers who will guide you through the legal process. They can distil the corporate vocabulary down to understandable English. Ask them to help you comprehend what you’re being offered, whether it’s worth it, and what leverage you genuinely have.
A lawyer specializing in employment contracts will explain to you what they are, why you ought to have one, and what to watch out for. They can clear up any murky ideas you have to ensure you get the best possible arrangement.
Most importantly, they will set the entire situation within the framework of your company’s policies. That lets you act in the way that’s optimal for your individual context.
Negotiate around your lifestyle
For example, some upcoming trends that HR departments are focusing on are virtual reality training, AI know-how, and efficiency in remote work and learning. If you’re negotiating for managerial employment, demonstrate your commitment to employee health and wellness, maintaining a healthy company culture, etc.
Identify one to three areas in which you can claim expertise. Focus on applying those to the company’s benefit. Show the hiring managers how selecting you for the position is better than selecting your competitors. You might also hint at the losses they would incur by letting competition snag your talent.
Get appropriate legal help
Navigating the legal and business side of employment negotiations can get tricky. If you ever feel unsure about what’s what, get in touch with employment contract lawyers who will guide you through the legal process. They can distil the corporate vocabulary down to understandable English. Ask them to help you comprehend what you’re being offered, whether it’s worth it, and what leverage you genuinely have.
A lawyer specializing in employment contracts will explain to you what they are, why you ought to have one, and what to watch out for. They can clear up any murky ideas you have to ensure you get the best possible arrangement.
Most importantly, they will set the entire situation within the framework of your company’s policies. That lets you act in the way that’s optimal for your individual context.
Negotiate around your lifestyle
|
Understand that you have to account for more than salary specifications. On top of your baseline payment, consider bonuses, flexible work hours or locations, and other auxiliary benefits. You want to ensure the sort of employment that will support your chosen lifestyle.
Are they offering you enough vacation days? Would you benefit from a different title in your position? |
|
Would travelling for work interfere with your personal relationships? What sort of perks go with your new contract and what are the exact conditions that restrict those perks?
It’s not over until it’s printed
Whatever you negotiated for, get it in writing. The talks mustn't end with talk. No matter how well you “clicked” with the employer, unless it’s printed, it’s not binding. Protect yourself and your new contract.
Send a follow-up email with the main points of your discussion. Outline everything you agreed on and restate anything that still needs clearing up. Don’t forget to include a comprehensive list of supporting points, like perks and exceptions.
Have a retreat route mapped
In other words, prepare a backup in case you have to walk away from the negotiation. Don’t trap yourself in a scenario where the company won’t meet your needs or bend on core values, and you have nowhere else to turn.
If the contract is shaping up to something you cannot accept, call it a day. Thank the hiring manager for their time and move on to pursuing other opportunities.
In summary, your new employment contract should be based on your strengths and tailored to your priorities and lifestyle. Have alternatives lined up in case it doesn’t go your way, and protect your legal interests. Consult with an employment contract lawyer and remember to have everything guaranteed in writing before you accept any job offer.
It’s not over until it’s printed
Whatever you negotiated for, get it in writing. The talks mustn't end with talk. No matter how well you “clicked” with the employer, unless it’s printed, it’s not binding. Protect yourself and your new contract.
Send a follow-up email with the main points of your discussion. Outline everything you agreed on and restate anything that still needs clearing up. Don’t forget to include a comprehensive list of supporting points, like perks and exceptions.
Have a retreat route mapped
In other words, prepare a backup in case you have to walk away from the negotiation. Don’t trap yourself in a scenario where the company won’t meet your needs or bend on core values, and you have nowhere else to turn.
If the contract is shaping up to something you cannot accept, call it a day. Thank the hiring manager for their time and move on to pursuing other opportunities.
In summary, your new employment contract should be based on your strengths and tailored to your priorities and lifestyle. Have alternatives lined up in case it doesn’t go your way, and protect your legal interests. Consult with an employment contract lawyer and remember to have everything guaranteed in writing before you accept any job offer.
