In the world of career advancement, there is no greater feeling than negotiating your employment contract like a boss. But knowing how to assert your wants and needs concisely can be a daunting process for many. Recognising the importance of empowering individuals to assertively negotiate fair terms and conditions, media law firm Tan Ward presents its top tips for successful employment contract negotiation.
Geared towards empowering executives , Praveen Bhatia, co-owner and CEO at Tan Ward is focused on equipping all employees with the skills and confidence needed to navigate contract negotiations successfully.
โContract negotiations play a pivotal role in one’s career journey. A well-negotiated contract not only secures competitive compensation but also establishes the foundation for professional growth and success,โ comments Praveen.
You got that job offer, now you need to negotiate your employment contract
Historically, employment contract negotiations have been a daunting process for many and in particular, women. Facing a myriad of challenges including gender biases, pay gaps, and limited access to senior positions, women have often been at a disadvantage in salary and benefits discussions. However, the tide is turning as businesses step up to level the playing field and ensure equal opportunities for all.
Understanding the importance of asserting oneself confidently in the workplace is a skill that will set you right for life. With that in mind, Daniela Korn, co-owner and Head of Employment at Tan Ward and Praveen share their invaluable insights on how to effectively present your value proposition, articulate your professional goals, and successfully negotiate terms that align with your aspirations.
If you are ready to take control of your professional destiny and secure the terms you deserve, read on.
Top tips to negotiate your employment contract like a boss:
- Research, research, research: Before heading into any negotiation, arm yourself with comprehensive knowledge of your industry, company, and position. Stay updated on market trends, salary ranges, and benefits packages.
- Clearly define your priorities: Understand what matters most to you – whether it’s salary, benefits, or work-life balance. Defining your priorities in advance will help you focus your negotiations on the areas that genuinely matter.
- Cultivate confidence: Confidence is key when negotiating your employment contract. Step into the negotiation room with self-assurance and a clear understanding of your worth. Remember, you are negotiating for your future success.
- Aim for win-win solutions: Approach negotiations with a collaborative mindset. Look for opportunities where both parties can benefit, finding common ground to build a mutually advantageous agreement.
- Leverage your unique value: Highlight your unique skills, accomplishments, and previous contributions to demonstrate the value you bring to the organisation. Show how investing in you will bring long-term advantages.
- Know your market value: In todayโs environment itโs much easier to self-benchmark, with resources on the internet, and by speaking to agencies and peers. It is important to focus on your current market value and not be drawn into pegging your new salary against your previous, perhaps out of kilter salary. You should not be forced to disclose current remuneration when moving laterally โ focus on your expected salary level instead.
- Get it in writing: Securing your agreement in writing ensures that both parties are clear on the agreed-upon terms. Clearly outline compensation, benefits, vacation time, and any other crucial components.
โWe firmly believe in empowering executives to take charge of their careers. Negotiating your contract like a boss is an essential skill that can significantly impact your career trajectory. My aim is to equip my clients with the tools and confidence needed to ace contract negotiations and thrive in their professional endeavours.” โ Praveen Bhatia, Co-Owner and CEO at Tan Ward.
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