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ASSESS BARGAINING POWER OF YOURSELF Besides assessing the organization’s bargaining power, assess your own bargaining power. Generally, a candidate’s bargaining power depends on the following factors:
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Academic Background: It has been observed that the role of academic background in determining a candidate’s bargaining power is as follows: You can assess your bargaining power in the context of academic background based on the above factors. Experience. This factor is relevant only for experienced candidates. Generally, experience is measured in terms of number of years implying that a candidate who has put more number of years in service is more experienced than the one who has put lesser number of years in service. However, this basic proposition is challenged by many organizations. Their proposition is that it is not the number of years that matters but it is the quality of experience that matters. A basic theme behind experience is that a person may weed out the undesirable work practices over a period of time and may retain only the desirable practices. Because of this phenomenon, he will take lesser time in completing a work with same amount of effectiveness ( producing desirable results) as compared to a person completing the same work without experience. Further, a person with experience will innovate work practices and learn to know how to handle a higher-order job than his present job. Thus, skills that have been developed while gaining experience of the job are important. If such things have not been developed, experience is not meaningful to that extent. Therefore, assess whether you have developed skills relevant for the organization under study. If you have those skills, your bargaining power will be strong. Performance In Interview. Immediate factor which effects a candidate’s bargaining power is his performance in the interview. If his performance is very good, his bargaining power increases. In the alternative case, his bargaining power decreases. Urgency for Need of Job. If a candidate can wait for longer period to get a job, his bargaining power increases. If the candidate needs a job desperately, his bargaining power decreases. In the light of above factors, evaluate your bargaining power in relation to the organization’s bargaining power. Based on this evaluation, you can design your tactics for salary negotiation.BACK TO MAIN PAGE PREPERATION FOR INTERVIEW
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