3 Steps to Become a Better Contract Negotiator
This is your HR news flash for the week of October 19, 2020, your briefing on talent management and the world of work from HRCI. At this time of the year, many HR professionals are involved in negotiations with technology vendors and other contractors. Over the last few months, we’ve experienced dramatic changes in the way that we work, and contract negotiations for next year are likely to be anything but routine. Here are a few ideas for strengthening your negotiation skills as you prepare to update your contracts for the new calendar year. First, build rapport with your current vendors. For many of us, it’s been a while since we’ve interacted face-to-face with our vendors and contractors. It’s easy to let those relationships fade if you don’t take proactive steps to keep them strong. Reach out and schedule a call or video chat. If you don’t have a reciprocal relationship with your vendors, it’s never too late to begin building one! Second, review an existing contract. Review the current contract. Are there incentives that were bargained and not utilized? What are some of the details overlooked in the past that need to be added into the upcoming contracts? The expanded use of technological tools in the workplace and by the workforce requires more robust applications. Make sure to emphasize these in your contract negotiations. Finally, walk through potential risks and solutions. It is important to brainstorm likely challenges before you negotiate for the coming year. Chart out different options for multiple economic conditions and determine your plans to meet these challenges. Not only will this prepare for you for any negotiations, it will also help you determine any contingencies and service guarantees.