The World Economic Forum identifies negotiation as one of the top 10 essential skills for success in 2025. But don’t delay to hone your abilities; take the initiative NOW and master the art of negotiation.
Begin by implementing these key strategies—five things every effective negotiator understands:
1. Always keep in mind that the risk of asking is less than the risk of not asking.
Stepping into a negotiation with someone in authority can be daunting, yet it often yields rewarding outcomes. As Wayne Gretzky famously stated, “You miss 100% of the shots you don’t take.” What does this mean for negotiations? If you don’t make your request, it won’t happen. Whether you seek a salary boost, additional vacation days, or a more desirable project, advocate for your interests. If you desire something, go ahead and ask for it!
2. Understand what the other party can provide and tailor your requests accordingly.
In simpler terms, be sensible. While it’s wise to request slightly more than what you aim for, avoid starting your negotiation with an outrageous figure. If you are aware of your organization’s budget, seek a salary adjustment that aligns with it. If you want more vacation days, don’t demand two months of paid leave to travel around Europe. Hold ambitious expectations, but ensure your demands are realistic.
3. Be aware of the job’s demands.
Requesting more implies taking on additional responsibilities, so prepare for the new challenges ahead. Just as you should know what your company is capable of, you must also be clear about your own qualifications—we all desire promotions or raises, but not everyone may be prepared for the next level. If you negotiate for a position or task you aren’t equipped to handle, it could harm your reputation in future discussions.
4. Strive to achieve outcomes that benefit both yourself and the team.
Entering a negotiation, we all aim to get what we desire, but it’s vital to recognize that the other party aims for the same. Your objective should be to create an optimal outcome for all parties involved. Make your requests known, but be open to making compromises. If the other side feels discontent with the negotiation process, they may refuse to agree to anything.
5. Every facet of life and work is negotiable.
You might believe that negotiations are confined to the workplace and that you only learned these skills as an adult. However, it’s likely that you’ve been negotiating throughout your life. As a child, you negotiated with parents over an extra piece of cake or extended bedtime. In college, you navigated agreements with roommates regarding living conditions. When planning your wedding, discussions with your partner involved negotiation. As a parent, you negotiate with your kids to encourage them to go to school or get to bed on time. Draw on the skills you gained in these life situations and apply them in professional settings.
You may already excel at negotiation without realizing it.
