Gender Pay Gap: How Negotiation Can Help Close It

Step 1: Framing the Conversation

To open the door to productive negotiation, Bill Coleman, a renowned compensation expert, advises against setting a rigid figure. He suggests, “The worst thing you can say is ‘I want $X for this job,’ leaving no opening for negotiation by the other side. Better language is ‘I hope to earn between $X and $X.’ That gives the other party more flexibility.” This approach sets the stage for a chat where ideas can flow, and solutions can be found together. It’s like starting a conversation with a warm handshake – setting a constructive tone for negotiations – instead of a stiff salute.

Step 2: Mastering the Art of Negotiation

Harvey Mackay, a distinguished business speaker, encapsulates the essence of negotiation in his statement, “You do not get what you want. You get what you negotiate.” This profound truth underscores that successful negotiation is not just about asserting desires, but about skilfully navigating the process to achieve desired outcomes. This rings particularly true when it comes to securing fair compensation.

Now, imagine walking into a salary discussion with the knowledge that you’re about to play a game you’re incredibly good at. That’s the power of negotiation. It’s not about demanding but skillfully steering the conversation towards a fair outcome. When women hone their negotiation skills, they’re not just asking for what they deserve – they’re asserting their value and ensuring it’s recognized. By mastering negotiation, women can tip the scales in their favour, inching closer to a workplace where pay is determined by merit, not gender. It’s a game-changer in the fight for equality.

Step 3: Equipping Yourself with Knowledge

Victor Kiam, an accomplished entrepreneur, emphasizes the power of information in negotiation, stating, “Information is a negotiator’s greatest weapon.” This highlights the importance of being armed with data and insights about industry standards and organizational policies. This knowledge forms a solid foundation for negotiation, providing a clear and informed basis for discussions about compensation.

Step 4: Overcoming Fear in Negotiation

Fear can be a tricky companion in the world of negotiation. Picture this: you’re in a room, discussing terms, and suddenly, that knot in your stomach tightens. Maybe it’s the fear of offending the other party, or the dread of not getting what you want. Whatever it is, fear has a way of creeping in and clouding your judgment. It can make you hesitant, cause you to second-guess your worth, and even prevent you from asking for what you rightfully deserve.

But here’s the bombshell: when fear takes the wheel, it can lead you down a path of compromise that doesn’t serve your best interests. You might find yourself settling for less than what you truly deserve. It’s like letting the other party set the terms, leaving you with a sinking feeling that you could have done better. So, it’s essential to recognize the influence of fear and find ways to keep it in check. In negotiation, confidence and clarity of purpose are your best allies, while fear is the sneaky saboteur trying to undermine your efforts.

John F. Kennedy, in his inaugural speech, is on record to have said, “Let us never negotiate out of fear. But let us never fear to negotiate.” This timeless advice encourages you to approach negotiations with confidence and purpose. It gives a reminder that negotiation is not about confrontation, but rather a constructive dialogue aimed at achieving mutual benefit. This is particularly relevant when striving for fair compensation in the face of the gender pay gap.