In this issue...

• Negotiating Your Way to Success

• Make Vacation Time Work for You

•Salary Negotiation Techniques

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Negotiating Your Way to Success

It’s often been said that almost everything in life is a negotiation.  That’s certainly the case when you’re trying to come to a consensus about salary with a potential new employer, a subject we address in this month’s issue of the Animal Science Monitor.  However, one thing you shouldn’t negotiate about—or have to, for that matter—is vacation time.  Vacation time is a necessity for employees and presents an excellent opportunity for employers to improve their business in a number of different ways.  So kick back, relax, and enjoy this month’s ASM.

During the past few years, “work-life balance” has become a hot catchphrase for employees.  As time goes on, monetary compensation is sliding down employees’ list of priorities, while more vacation time and a more flexible schedule rise through the ranks.

In fact, according to the “Transforming Pay Packages: 2006 Compensation and Benefits Report” by the Hudson Employment Index, many workers would like a more flexible schedule.  The report stated that, when given their choice of unconventional benefits, most employees would select a more flexible work schedule (33%) or additional family benefits (22%), including parental leaves and personal days, over job training (13%) or supplemental insurance (16%).

Not a hindrance—an opportunity
Unfortunately, over the past several years in this country, many workers have shunned their vacation time for a variety of reasons, one of them being pressure from their boss not to take time out of the office.  Those managers who frown upon their employees taking a vacation are failing to see the bigger picture.  While it might seem as though employees who forsake their vacation are accomplishing more, this simply isn’t the case.  Without a break, the quality of their work suffers and the amount of work they’re able to accomplish within a specific amount of time decreases.

Instead of viewing vacation time as a nuisance, managers should look at it as an opportunity—an opportunity to maximize the value that workers bring to their positions and to create a solid bond with their employees, one that will lead to a lower turnover rate.  Below are some of the main advantages of vacation time.

• Makes employees more productive.  Time away from the office is imperative for employees to reach their full potential.  A vacation provides them with the chance to rejuvenate themselves and to be re-energized when they return.  And that kind of attitude is infectious.
  
  
• Presents an opportunity to create a cross-training program.  When employees are on vacation, their peers can take over some of their responsibilities.  This adds to everybody’s value and ensures that your business will continue to run smoothly even if those employees are out (or leave the company for good).
  
  
• Creates more customer loyalty, which increases retention.  Employees are less likely to leave a company for good, though, if they have more flexibility in their schedule and can enjoy the vacation time to which they are entitled.  Remember what’s most important to employees these days.  It’s not just about the money anymore.
  
  
• Creates a more positive company culture.  Once employees realize that the company truly has their best interests in mind, this will lead to a more positive overall atmosphere in the office.  It will also lead to your employees saying good things about your company to their friends, who may be looking for a new opportunity.  (Referrals are king in a candidate-driven market.)

Give ‘em what they need
The most productive and successful companies are not those that run their employees into the ground.  They’re the ones that recognize the importance of making sure that their workers have everything they need to flourish in their positions, and that includes time out of the office.  So review your company’s policy regarding vacation, and make sure that you’re conveying the right message to your employees.  “Work-life” balance is quickly becoming more than just a hot catchphrase for candidates—it’s becoming a prerequisite for hiring and then retaining the best talent in the industry.

If you have any questions about this topic, feel free to email me at dan@consearch.com.  I’ll be sure to respond when I get back from vacation on July 23.  (I practice what I preach!)

Salary Negotiation Techniques
(By Don Hunter)

The best approach to putting a deal together is to decide whether you want the job before an offer is extended.  This allows you to clarify whether the job suits your needs.  Unless you’re motivated solely by money, it’s doubtful a few extra dollars will turn a bad job into a good one.

The term “bottom line” refers to the amount of compensation you feel is absolutely necessary to accept the job offer.  If, for example, you really want $76,000, but would think about $75,000 or settle for $74,000, then you haven’t established your bottom line. The bottom line is one dollar more than the figure you would positively walk away from.  Setting a bottom line clarifies your sense of worth and helps avoid an unpredictable bargaining session.

I recommend against “negotiating” an offer in the classic sense, where the company makes a proposal, you counter it, they counter your counter, and so on.  While this type of back-and-forth format may be customary for negotiating a residential real estate deal, job offers should be handled in a more straightforward manner.

Here’s how.  Determine your bottom line in advance, and wait for the offer.  If the company offers you more than your bottom line, great.  If they offer you less, then you have the option of turning the offer down or revealing to them your bottom line as a condition of acceptance.  At that point, they can raise the ante or walk away.  And once the bottom line is known, you can avoid the haggling that so often causes aggravation, disappointment, or hurt feelings.

By determining your own acceptance conditions in advance, you’ll never be accused of negotiating in bad faith or of being indecisive.  Whether you’re representing yourself or working with a recruiter, learning to differentiate between financial fact and fantasy will facilitate the job changing process.

If you feel the need to justify your salary request, you can itemize any loss of income that may result from a differential in benefits, geographic location, car expenses, and so forth.

Often, there are considerations aside from money that need to be satisfied before an offer can be accepted.  Factors such as the new position title, review periods, work schedule, vacation allotment, and promotion opportunities are important and should be looked at carefully.

You can use this approach to quantify each consideration or “point” you need to satisfy as a condition for acceptance.  Once you and the company settle on each point, you won’t need to go back later to negotiate “one more thing.”  Knowing your bottom line puts you in a better position to get what you want, since you’ve established a set of quantifiable conditions needed for acceptance.

If you have any questions about this topic, please contact me at brg@charterinternet.com.