00:00hi everyone in this video I'm going to share some advice on how to negotiate your pay and benefits
00:08at work according to a survey by jobvite only 29% of people negotiated their salary at their
00:15current job that means the majority of us are simply not negotiating and just taking what is
00:20being offered to us if you look at the small percentage that did negotiate 85% of them got
00:26at least some of what they asked for that's a really high success rate if you fall into the
00:32group that doesn't normally negotiate then over your career you could be missing out on lots and
00:37lots of money I spent eight years at a big four accounting firm in London and I supported their
00:43recruitment efforts but even though I did this I still found negotiating my pay a really difficult
00:48conversation to have and I understand for a lot of people it's the same it's a hard conversation
00:54it might be that you have fears that if it's for a new job that the job offer will be taken away or
01:00that you might come across as greedy but that's simply not the case if you manage the discussion
01:05in the right way and I'm going to give you three tips on how to do this covering communicating your
01:10value doing your research and influencing techniques including the power of silence so number one
01:17communicating your value prior to your pay discussion take a bit of time to think about the
01:23value that you bring to your employer or potential employer think about the examples that you can
01:29give to help explain why you are so valuable to them for example maybe you've helped implement a new
01:36cost-saving initiative or you've supported winning a new piece of work which brings in income to the
01:42business or you have particular skills and experience that other people in the company don't have so
01:47they're relying on you try to have two or three key points for the discussion and be assertive and
01:54confident but obviously not to the point where you start to come across as too arrogant although it can
01:59feel awkward uncomfortable and difficult to do when I'm negotiating I always tell myself that ultimately
02:06both you and your employer want the same outcome they want you to be happy with the offer so you stay with
02:11them for the long term and you obviously want to be happy with the offer so you're motivated to work
02:16for them every day so I actually think negotiation done in the right way can demonstrate a really
02:21valuable skill set to your employer they can see live how you conduct yourself how you communicate and try
02:27to get your points across and these are all things that for any good employer they're going to want to
02:32really see from their employees the second point is do your research and by that I mean get some data points
02:39on what your market value is and arm yourself with that information before any pay discussions with
02:45your employer or potential employer there are lots of tools out there that can help you with the
02:49research such as websites like Glassdoor or you can see job adverts on platforms like LinkedIn where
02:56you can get indicative pay ranges for the type of work you do I think one of the best ways is to
03:01actually connect with a recruiter to understand if you move to a similar job at another company what the
03:08pay would be the key is to make sure you get robust data which is comparable to the job you have or are
03:14going for so for example it's in the same industry and in the same location prior to your pay discussions
03:21think about your ideal pay number and the number that you're willing to settle on always start with
03:27your ideal number when you're asked what your salary expectations are and don't give away the number
03:32that you would settle on one thing to avoid is giving a pay range as they'll just offer the bottom
03:38of that range and consider everything relating to compensation and benefits as negotiable so think of
03:45the other parts beyond just pay that you would like to have for example additional holiday entitlement medical
03:52care pension a car allowance or even a sign-on bonus if you can't get your salary target then you can
04:00negotiate these other elements of compensation to make your total package better for you so the
04:06third and final topic on this video is doing an example pay discussion and using influencing
04:12techniques there are loads of books and speakers online about negotiation and the different principles
04:19and techniques that you can use for me combining the points we've talked about on this video with the
04:25power of silence is very effective so I'll give you an example of how a pay conversation might go you'll
04:32see across the desk from your employer and they offer you a pay number which is only a two percent
04:37increase from last year you should take some time to consider it remain silent and let your employer
04:43start to think that you're not happy with the offer and they'll get concerned let them speak first and
04:50then the first words that you should say are to thank them for the offer and then articulate the one or two
04:55key points which demonstrate your value and then share your understanding on your market worth based
05:02on the research that you've done and finish with the pay number that you're expecting and start with
05:07that ideal pay number and then go silent and let the ball go back into your employer's court on what
05:14next steps to take to give you a revised offer I personally found this technique really helpful I think if
05:21you find it uncomfortable at first then perhaps try it with friends and family maybe not for money
05:27and then if you're still not able to get to your ideal pay number that's when you start to negotiate on
05:34the other elements of compensation benefits so if you're in pay negotiations with your employer or a
05:41potential employer think about the three things in this video on communicating your value doing your research
05:47research and combining this with the power of silence I hope this video can help others in getting the
05:53best possible outcome from your pay discussions feel free to add any questions in the comments and
05:59give the video a like and a subscribe I'll see you on the next video take care and bye for now
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