Studies have shown that negotiators who have met face-to-face form more favorable agreements than those who deal online.
Negotiations are more effective when we interact physically. A personal connection through lunch and a handshake, or eye contact can trigger the hormone called oxytocin (hormone to bond) that in turn builds a positive bond between two people.
A positive relationship builds trust, which is crucial to the success of a collaboration.
Because of the Coronavirus epidemic, negotiating with people in person has become an acceptable alternative. Face to face, we are unable to make eye contact because we’re separated from each other in the space and it is difficult to use the tools available to enhance interpersonal relationships and build confidence.
The tone of body language and voice is ninety-three percent of the reasons you’ll be able to trust someone.
In addition the study by IACCM (International Association of Commercial and Contract Management) and Keld Jensen indicates that 70 percent of the talks prior to coronavirus occurred via email.
However, online negotiations can be effective if you adhere to certain rules:
1) Be focused in cooperation.
We tend to observe the best and most negative aspects of individuals when we’re in the middle of a crisis. I’ve witnessed the shortage of toilet paper because of overcrowding at the local store and I’ve seen companies and people helping other people and communities.
When we are stressed, we tend to go towards fight or flight behaviour and may do the same thing when we are in online discussions too.
It is important to resist that urge and instead seek cooperation instead. Negotiators who employ an approach that is collaborative to their negotiations outperform those who have a zero-sum mentality.
Therefore, you should focus to expand the market. develop NegoEconomics (Negotiation Economics) in which you ask your partner regarding the cost and the importance of their requests. Discuss your own expenses and values.
Each party will ultimately create greater value for the collective good. We are seeing political leaders from opposing parties working together. Perhaps we are at the start of an period which will see negotiations begin through the SMARTnership.
2) Don’t make this your new norm.
After the coronavirus (and there will be a follow-up) and social-distancing regulations are lifted, people will again be able to meet face-to-face. But, the ease and cost savings from holding meetings online may entice us to keep negotiating on the internet. It’s a mistake!
If you’re beginning an online friendship immediately, you should consider making contact with each other in the event that you can establish a relationship. Making use of the advantages of Negotiation Skills Training online shouldn’t cause you to forget the advantages of meeting face-to-face.
3.) Take into consideration the importance of your offer
Negotiators should be aware of the importance before starting a major Negotiation Skills Training online. Think about whether it is prudent to delay the negotiations until after corona. There are clients I know who have decided to not engage in negotiations with a partner prior to being able to hold face-to-face meetings. It is possible to delay lengthy discussions. You are able to do small-scale deals online and shoulddo so for the sake of keeping the economy in line. Remember that we must help one another more than ever before.
4) Don’t be afraid to trust your partner.
Because we can’t have face-to-face meetings during online discussions and we don’t have the non-verbal signals that establish trust. Emails can be easily misinterpreted (emojis may help). Conflicts and misunderstandings are much easier to cause. Give your coworker the benefit of doubt. Do not make assumptions about their emotions or feelings Do not immediately get offended if you receive an email that appears unprofessional or even short. Most people are experiencing any kind of stress right now.
5) Select your preferred technology.
There are numerous tools for communicating that will help in your online negotiations. The first step is to be sure that they are working! At the beginning think about using a videoconferencing platform. This will allow you to use body language to create eye contact, and build an even stronger connection. The next step is using emails to exchange important information and facts. If you encounter problems or conflicts, pick up the phone and talk to someone to resolve the issue. Avoid email correspondence to resolve disputes.
Be aware: Even though we think we have different motives, we are on the same team. Be kind, ethical and secure. Consider a negotiation as a process of collaboration that is designed to create the best results for everyone.
Keld Jensen is an international professor, author of public speaking, advisor, and expert in Negotiation Skills Training online and behavioral economics, as well as trust.
The company he has been working for includes top international corporations, governments, and individuals as a consultant and trainer.
They include SAB Miller, LEGO, the governments of Denmark, England, Lithuania and Canada, Rolls Royce, Siemens, Thermo-Fisher, Carlsberg, Vestas, and Novo Nordisk.
He. Jensen has authored 24 books about international Negotiation Skills Training online and communication and has been published in more than 37 countries, and in 18 languages, and an audience of more than 2.8 million people reading. He also writes a monthly series of articles about negotiations for Forbes Magazine.
Keld is an associate professor at the Thunderbird School of Global Management at ASU in the US, Aalborg University in Denmark and Baltic Management Institute in Belgium and Lithuania.
He instructs in several International Executive MBA programs, and is a regular contributor to print and electronic media, having made more than 200 television appearances in recent times.
In 2015 and 2016 In 2015 and 2016, Mr. Jensen was recognized as one of the top 100 Global Thought Leaders in Trust.
His idea of Negotiation Skills Training online was recognized as the “Best Strategies for Negotiation and Tendering” from the Scandinavian Organization of Public Procurement Officers. Recently Jensen received the award for his Negotiation Skills Training online strategy.
Jensen received the 2018 IACCM Innovation Award for his Negotiation Skills Training online approach and was also nominated for the IACCM Strategic Direction Award for 2019. IACCM Strategic Direction Award.
Keld Jensen is a graduate of the Master’s Degree in Online Education at ASU.
The Negotiation Skills Training online Master Programs provide an array of negotiation-related online courses. Try a no-cost version by clicking here.
The bigger picture can keep your from being too prescriptive in your negotiations, and also helps you think of counter-arguments when things don’t go your way.
A word of caution however: when you’re looking at the larger idea, be sure to do your homework. Make sure you are well-informed and accurate. No guessing, no assuming. Both can be deadly as they can result in serious mistakes in negotiation and miss opportunities.
Once you’ve embraced
The approach, you’ll be able achieve decent, if not spectacular improvements. The most powerful bargaining tools that you can use are ones that mean an enormous amount to you however, they cost your partner less or no cost.
Any of these techniques combined can result in a win-win-win situation. You’ll get significant perks, and the company will get a better team member, whose value will easily outweigh the expense of providing these benefits.
Many employers currently offer the different types of perks listed in the preceding paragraphs.
Before approaching possible employers, do your research.
With a better understanding of the bargaining chips that are already in place, you’ll be able to negotiate more effectively (and consequently, less difficult for the company to reach an agreement to).
To begin with, Make sure you’re doing everything you can to maintain an open and honest environment. Discuss and agree on the “rules of the game” that each party will adhere to throughout talks.
