Career Advice Archives | Page 55 of 55

Guest Contribution by Molly Fletcher

For nearly two decades, I worked as one of the only female sports agents in the industry, negotiating contracts and marketing deals for a client list of top athletes, coaches and broadcasters.

I left my career as a sports agent to start my own company because I believed there were lessons I learned within the sports environment that could help people in the business world become more productive. One of those lessons—how to negotiate effectively—inspired my most recent book, A Winner’s Guide to Negotiating: How Conversation Gets Deals Done.

My advice applies to anyone who wants to be a good negotiator, but is geared specifically towards executive women. Research has shown that there is a social cost for negotiating that is statistically significant for women and not for men. Instead of examining all the complex reasons why that is the case, I focused on how women can be more effective when they enter their next negotiation.

Set the Stage

Setting the stage refers to gathering all types of hard data and marrying it with qualitative information to create a compelling case. When clear standards for negotiation exist, women actually negotiate at about the same rate and just as effectively as men—so the more data you can arm yourself with, the more confident you can be in your ask. It’s also about 360 degree awareness. You have to get clear on the goals, needs, gaps, values and fears of the other side. What do they value? How do they define success? Is this the right time to make the ask?

Add value

The best thing you can do to put yourself in a successful position to negotiate is to find ways to add value. Most negotiations don’t happen in one meeting. They are built over time, through conversations and relationships. The more you can do to add value to these partnerships, the higher your chance of success when you make your ask. Put yourself in the shoes of the other person and determine what gaps exist and how you can be a solution.

Build relationships

Ask yourself, do I have someone within this organization who is willing to go to bat for me? Be intentional about building strong relationships and find someone who you can trust to advocate for you. Some of the most important conversations about your future happen when you aren’t present. Having a senior leader advocate for you is like having an agent negotiating on your behalf.

Be authentic

Too often, women feel pressured to become somebody else when it comes to negotiation. As I share in my book, effective negotiation isn’t a battle between wills, it’s a conversation between people. Approach the negotiation as you would an important conversation. People respond better to consistency and you will be more comfortable with the ebb and flow if you are in your own comfort zone. Use your own strengths to your advantage instead of copying what you perceive to be as the most effective negotiating styles.

The greater good

Research has also revealed that women who negotiate on behalf of others are generally perceived in a positive manner. That’s why it’s particularly important for women to take a big picture approach when negotiating on their own behalf. Frame up the negotiation from the “we” perspective. How is what you are asking for going to benefit the organization as a whole? How have you contributed in ways that have added overall value? The more you can get into the head and heart of the other side, the better you can frame up the conversation as a win-win. Demonstrate that you understand their perspective, and aren’t approaching this conversation from your own self-interest.

Why is negotiation so important for women? First, it’s a small but important piece in closing the wage gap. The importance of negotiation, however, goes beyond just money. When women don’t negotiate, they sacrifice more than just money. They sacrifice opportunity—for training, growth, leadership, recognition and promotions. It becomes a cycle, because in order to change the stereotypes and expectations about women negotiating, we must have women in leadership positions. This was a huge part of my motivation for writing my book—not just to inspire individuals to ask for what they want but to spark a greater conversation that leads to change.

Much of what I read about advancing women’s careers has been from the perspective of women. Although this is an important dialogue that we must continue, we are all—women and men—responsible for maintaining a diverse, inclusive culture. By bringing men—especially business leaders—into the conversation, we can reach the best possible solution, so that everyone walks away from the table feeling like they have gained something.

As part of my role at PwC, I lead a series of dialogues with our male leaders that aim not only to educate but also to provide a forum for talking candidly about the challenges they face as they work to strengthen the sense of inclusion our professionals feel in our firm. Bob Moritz, PwC’s chairman and senior partner, has set the tone at the top by prioritizing diversity and inclusion; creating lasting change, however, this requires that all our partners, principals and staff participate in bringing that vision to life.

We have made significant progress, but this journey requires patience, courage and the ability to communicate across differences. In a negotiation, when the parties stop communicating, the process can break down.

Before I delve into what men stand to gain from supporting the advancement of women, let’s take a look at a few ways communications can break down and what we can do about them:

1) Failed connections – In their recent New York Times article, “Speaking While Female,” Sheryl Sandberg and Adam Grant examined an unpleasant gender bias professional women often face during meetings: the risk of being interrupted and unheard (although a man saying the same thing will get nods of approval) or the risk of being disliked or considered too aggressive. For example, a male TV producer helped craft a solution (no interruptions during pitches) that made the entire team more effective. Had the suggestion come from a woman, it might also have gone unheard – thus highlighting the important role men can play in recognizing subtle biases and leveling the playing field for women, so all perspectives can be heard.

2) Fear of engagement – All too often, even well-meaning men don’t speak up for women because they fear making a mistake or being criticized. For example, some white males at PwC have voiced concerns about being automatically labeled “the bad guys” during diversity discussions. As another article by Adam Grant pointed out, individuals struggle to speak for or help groups with which they don’t identify. That changes once the individuals feel they have a vested interest. Helping men and women build stronger relationships and identify opportunities for mutual gain, such as through candid and collaborative dialogues, can be a big part of the solution.

3) Questioned intent – I’ve also heard from well-meaning men that they sometimes feel that women resist their efforts to reach out. Women either did not realize assistance was being offered or they wanted to prove they could do it on their own. We all need to be more attuned to those around us and give them the benefit of the doubt. And men may need to re-examine their approach to help make sure that it is respectful and authentic without the implication that men are here to solve women’s problems.

So with these potential pitfalls in mind, what do men (and the organizations they work for) stand to gain from stepping out of their comfort zone and helping advance women’s careers?

1) Enhanced leadership skills – Investing in relationships and building trust are key leadership skills. When men sponsor and mentor only those who look like them, they overlook important leadership opportunities and alienate potential allies. At PwC, we require our firm leaders to have had distinctive experiences working with diverse professionals, because we believe it will help them broaden their perspectives, while creating a more inclusive environment.

2) Financial success – Many organizations tie leaders’ salaries and promotions to the success of their unit or the overall organization. Several studies show that organizations perform better when women are well represented. PwC’s own research also demonstrates the critical importance of this issue. Bottom line: Diversity drives innovation—a necessity in today’s fast-changing business world. Moreover, when women feel leaders appreciate their contributions and are optimistic about their professional futures, employee engagement increases and turnover decreases—another win-win, particularly given the shortage of skilled talent.

3) Market relevance – In an increasingly complex and global business environment, the ability to work, manage and communicate with people who are different from you is an essential skill. A better understanding of the challenges for women in the workplace can improve men’s interactions with clients and other stakeholders, who increasingly expect cultural dexterity from service professionals. Men who can easily and effectively work and build bridges with diverse stakeholders create opportunities for themselves and their organizations.

4) Personal gain – Like women, many men are more than just business professionals – they are fathers, husbands, uncles and grandfathers. Research from Catalyst shows that gender equality provides significant personal benefits to men, including better health and enhanced relationships with your spouse or partner.

With a lot to gain and little to lose, all men, particularly the business world’s white male majority, need to join the conversation about advancing women. The launch of the HeForSheCampaign’s “10X10X10” initiative, for which PwC is a founding sponsor, at the World Economic Forum in Davos last month, should help take that conversation to a new level, but we as a society still have a long way to go to drive lasting change.

As I’ve learned in my discussions, this change won’t come naturally to all. Organizations need to create safe forums where both parties can share their perspectives and educate their people, because even the most well-intentioned individuals may have blind spots. Women can help bring men into diversity conversations by inviting male colleagues to participate in women’s networking events and encouraging them to act as “allies.” I also encourage my female colleagues at PwC to reach out to senior male colleagues to find common ground. We are often surprised by how much we share in common, and how much both mentors and mentees learn from each other’s differences.

If both men and women can hear each other out and be open to new perspectives, the result can be a winning proposition for everyone in the room.

By Chris Brassell

How To Negotiate Effectively: A Winner’s Guide