76.9% of executives consider themselves
‘above average’ negotiators.*
That’s a mathematical impossibility.
In 2018, we asked 648 senior executives how they would define “negotiating”. We were stunned by the result.
Over ninety-three percent of the executives struggle to explain what it is they are doing when they negotiate.
Negotiation is a core business skill, but there is little clarity about what negotiation actually is.
How would you define negotiating? How would your team?
A recent PASA study showed that the majority of executives prefer to resolve commercial challenges through problem solving. If that approach was not successful they tended to haggle, concede and try to impose their preferred outcome. The first two lose value, whilst the latter threatens the relationship. None of the strategies is likely to deliver a satisfactory result for both parties.*
It is not surprising to see why so many negotiations end up delivering sub-optimal outcomes for both sides. Only a small fraction of executives know how to negotiate effectively.
How does your team negotiate?
Why is your team not delivering the results you are expecting?
Where are the skills gaps that cause margin and value leakage?
If you have a team that is regularly negotiating for significant value on behalf of your organisation, contact us for a free consultation.
We will benchmark the negotiation characteristics of your team.
You will see how the team is performing compared to others in your industry.
You will see where the skills gaps are and which members of your team will benefit the most from targeted skills training.
What you then do with that information is up to you.
*link to 2016 PASA study