By: Joanna Haerle, W.E. O’Neil Construction Company
November 28, 2008
On the heels of the October 29th career and compensation discussion, CREW Chicago’s second leadership program of the year was held on November 20th and focused on negotiating your career and compensation package.
Laurel Bellows, Principal of Bellows and Bellows and an experienced business lawyer counseling senior executives and corporations on employment matters, provided insight on negotiations from the legal perspective. Beth Hayden, Senior V.P. and Regional Director Human Resources Americas for Jones Lang LaSalle, gave her input from an employer’s perspective while conducting a mock negotiation. Cheryl Stein, President of Cheryl Stein, Inc. and CREW Chicago member, added an insightful perspective on negotiations during quite the lively mock interview session. Cheryl’s knowledge of the industry provided an enjoyable challenge for the interview itself, which was the focus of the evening.
Highlights of tips provided are as follows:
- Negotiations are a game, and women are typically impatient with the game, so be patient and play.
- Preparation is key: make 10-12 calls gathering insight into the specific negotiation, including the negotiator’s style, be thorough.
- Make sure the interviewer has the authority to do the deal or know who does.
- Bring your value to the table in a two-minute elevator speech.
- Provide a win/win scenario with give and take; be willing to trade off.
- Be confident and most of all be yourself.
- Choose your tone at every level and match it to the person on the other side.
- Come in at your peer level compensation range as it sets the stage for the future.
- Before you commit, ask…ask…ask.
- Performance based compensation is prevalent today.
- Ask about executive plans.
- Existing Board memberships may have to be realigned.
- Meet your team; ask about your support people.
There is an assumption that everyone at the executive level has legal consultation, but it should be subtle and in the background, not at the forefront of a negotiation.
Laurel, Beth and Cheryl delivered an insightful program in an enjoyable framework. Thanks to all of them for their participation.
Source: crewchicago.org
