Uncover your Unique Negotiation Style
If there’s one skill that’s more important than most in procurement, it’s negotiation.
It’s something that we do regularly, sometimes even daily, in procurement. It’s something that’s complex, because it involves our ego and also requires an ability to be less ‘black and white.’ But finally, it’s certainly something that we love: we love talking about it, thinking about it, and even watching it in movies.
But even if we do love, it doesn’t mean it’s easy. Negotiation can be particularly challenging for women in procurement, due to pervasive and harmful stereotypes such as the fact that women should put others before themselves, that they shouldn’t ‘win’ (especially when it comes to career negotiations), and that women’s negotiations will be met with backlash.
For this reason, it’s important to find your own negotiation style. But how?
Understanding your unique negotiation style
The internet proliferates with guidebooks on how to negotiate, but one thing that a lot of these guides miss is that negotiation is not one-size-fits-all: there are certainly rules to be followed, but what’s more important is to find your own unique style.
Your negotiation style, much like your personal brand, is something unique to you, and is influenced by various factors, such as your personality and communication preferences. It’s also going to be further influenced by your own strengths, weaknesses, and values, for example, what emphasis you (and your organisation) places on optimal supplier relationship management.
Whatever your style, it’s important to identify it – and we’ll get to why that is in a second. So have a think: are you collaborative, or more assertive? Do you prefer building relationships, or is your preference for more strategic wins? Ensure you take the time to reflect on what you do well and why you do it.
The power of authenticity
Do you remember the advice that your parents gave you as a kid, about just being yourself?
Very few articles on negotiation would tell you this, but the advice your parents gave you way back then rings true now: when it comes to the most successful negotiations, it’s critical to, in fact, be yourself. When negotiating, it’s critical that you align your actions with your values, and seek to foster genuine connections.
For women in procurement, this can be particularly challenging, especially given the aforementioned stereotypes. But these stereotypes make it all the more important to be authentic in your negotiations.
Authentic negotiators build trust. They are more credible, they are more likely to get the outcomes they want, and most of all, they create lasting relationships.
Strategies for authentic negotiation
1. Know your value
For women in procurement, a great place to start when it comes to authentic negotiation is to recognise and appreciate your own value in the negotiation process.
Stereotypically, women are sometimes expected to downplay their accomplishments or expertise. To move past this (and to go beyond any imposter syndrome that might sneak in), have a clear understanding of your value proposition. To do this, try creating a list of your achievements, skills, and unique contributions to remind yourself of the value you bring to the table.
2. Develop strong communication skills
Effective communication is at the heart of successful negotiations. In order to execute on this, it’s critical that you develop strong verbal and non-verbal communication skills to articulate your thoughts clearly and assertively. It’s critical that you find your voice.
When communicating, ensure that you pay attention to your body language and tone of voice. Authenticity in communication involves expressing yourself genuinely, without compromising your integrity.
3. Build strategic, long-term relationships
Just like good supplier relationship management, authentic negotiation goes beyond the immediate wins: it involves building long-term relationships.
Ensure that you take the time to understand the people you are negotiating with, including their values, and their priorities. Remember at all times that building rapport creates a collaborative atmosphere and fosters trust and understanding. Authentic negotiators know this, and they prioritise relationships, recognizing that a positive and respectful connection can lead to mutually beneficial outcomes.
4. Embrace flexibility
When negotiating, it’s essential to have a clear understanding of your goals and boundaries. Saying that though, authentic negotiators are also flexible.
Negotiations, after all, almost always involve compromise, as well as being open to creative solutions. Make sure you approach negotiations with a mindset of finding win-win solutions that satisfy both parties. After all, flexibility demonstrates adaptability and a willingness to work collaboratively.
5. Be prepared and informed
Finally, authenticity is not synonymous with naivety. To negotiate authentically, you need to ensure that you’re well-prepared.
To do this, ensure that you thoroughly research the market, understand your suppliers’ needs, and be familiar with the latest industry trends. Preparation not only boosts your confidence but also enhances your credibility.
What is your unique negotiation style? Do you want to help uncover it and enhance it? Our BRAVO program can help you find and improve your negotiation skills and find your voice.
Women in our program will help to foster a sense of community, allowing you to share experiences, advice, and support with others who are navigating similar career journeys while learning.
To find out more about the 2024 BRAVO Program, please click your region below:
