Tips to achieve a great settlement negotiation part 1

These are a weekly series of short tips and tricks to help you achieve strength in any settlement negotiation.

Tip 1: do your groundwork - avoid employer's traps

In Negotiation Genius, Deepak Malhotra and Max Bazerman, both academics at Harvard Business School, suggest you should know your ‘BATNA’ – the best alternative to a negotiated agreement – at the outset.

Employer's can use this technique to trap you if the negotiations turns sour. In an employment situation, this might include putting you, the employee, through a formal disciplinary or performance management process.

Your employer will be trying to work out your ‘RV’ – your reservation value – at the outset. This is the least favourable point at which you'll accept a deal. Know what your RV is before you start to negotiate and do not be caught out by selecting a random or unrealistic figure.

Early on in the process identify the ‘ZOPA’ – the zone of possible agreement. This is the range within which both parties can find an acceptable deal.