Helping your team become better negotiators is a powerful way to boost confidence, improve internal collaboration, and ultimately drive results. Whether it be with vendors, clients, or partners, knowing how to negotiate effectively can significantly improve an organization’s bottom line. Here is a practical approach managers can take to coach their teams into stronger negotiations.
Identify Fears or Challenges
The first step in helping your team become better negotiators is to identify any fears or anxieties they may have about negotiating. Be it self-doubt, perfectionism, lack of confidence, or fear of high-stakes situations, it is important to acknowledge these fears so your team can gain a better awareness of what triggers their emotions and how they can address them. Once these fears and anxieties are outlined, you can work together to create solutions, alternative perspectives, and plans to reduce anxiety and build confidence
Develop the Skills
Managers should make it a priority to develop the skills that can enhance their team’s negotiation performance and confidence. This includes skills such as research, planning, strategy, communication, persuasion, and problem-solving skills that can help your team prepare and execute effective negotiations. By providing your team with training and opportunities to practice these skills, you can help them master the skills needed to be competent and comfortable in a negotiation setting.
Model Negotiation Best Practices
Your team watches how you handle tough situations, so be sure to use these opportunities to demonstrate best practices. Be cognizant of demonstrating active listening, clarifying needs versus wants, staying calm under pressure, and knowing when to walk away. After a negotiation, take some time to debrief with your team and talk about what worked and what didn’t.
Teach Core Principles
Provide negotiation training opportunities where team members learn about some foundational negotiation concepts. Be sure to address things like:
-BATNA (Best Alternative To a Negotiated Agreement) strategies for developing your BATNA
-ZOPA (Zone Of Possible Agreement)
You also want to help your team learn the differences between positions and interests as well as techniques such as anchoring, mirroring, and other psychological strategies.
Give Feedback
When team members are in a negotiation, whether it is with a client, a vendor, or a partner, take the time to coach them before, during (if possible), and after. Provide feedback on what went well and what could be improved. Celebrate small successes, analyze gaps, and encourage constant improvement.