I was going through the web on flag etiquette/protocol. I came across this site Peter Urs Bender, who is a National best seller author. This is his article which also linked to ExecutivePlanet.com. Please visit Executive planet and read up articles on etiquette in different countries.
But this is what Peter Urs Bender has to say:
Etiquette for the Global Village by Peter Urs Bender
As our cultures meet and mix, the "right" etiquette is being rapidly transformed. We indeed live in an ever-changing world. Wait a minute! Etiquette!? Hard-nosed business consultant Bender is not slowly leaving orbit. Get on your computer. Call up Google or any search engine. Enter the word "etiquette".
You will be swamped with so much information you couldn't read it all in a lifetime. If etiquette means for you simply the proper way to handle a napkin or your knife, think again. There is etiquette for everything from golf, how to hang a flag, using the Internet, to the proper way to deal with people with disabilities.
Dealing globally, etiquette can make or break your business deal. You can be seen as a sophisticated dealer or an uncouth boob. And that applies whether you are visiting another country whose customs are different, or hosting business people from abroad. In Canada, we like to think we deal well in the global marketplace. There are a lot of books available on that. On the web ExecutivePlanet.com and others list many categories for dealing with your foreign counterpart.
These include negotiating, entertaining, respectful address, and business dress. It even suggests appropriate topics for conversation in the culture with which you are in contact. Just assume the Queen of England came to visit. You will be treated to a prime example of etiquette at work. The politicians and diplomats call it "protocol". For her visit you will find a long list of instructions spelled out - even on how to shake hands with the monarch.
That detail is not unimportant. Imagine shaking 600 or 700 hands a day! That's what the Queen does, and that's the reason for the protocol. Oh for the simpler, happy old days in Switzerland! We used a book called Der Knigge. It explained exactly how to sit, hold your fork, your wineglass, the way to position your shoulders and your chest. And much more.
In North America we read Miss Manners, and were taught from Emily Post's Etiquette in Society, in Business, in Politics, and at Home. Bartleby.com incidentally, republished her 697-page 1922 classic in 1999 - on the Internet.
Young people today may laugh their heads off at the idea of etiquette training. But Emily Post's book is still valid commentary on manners and customs in North America. Access it. You might find it enlightening. Emily Post goes right to the heart of the importance of manners and etiquette. I believe her words hold true for dealing with any culture, no matter how complicated the variations.
"Manners are made up of trivialities of deportment which can be easily learned if one does not happen to know them; manner is personality-the outward manifestation of one's innate character and attitude toward life.... Etiquette must, if it is to be of more than trifling use, include ethics as well as manners. Certainly what one is, is of far greater importance than what one appears to be-"
In short, etiquette reflects the outward manifestation of the person. In all of my business books I have emphasized that your appearance influences how successfully you will interact with others. Therefore, etiquette is not fluff. In the old days youngsters attended mixed etiquette classes where they were taught how properly to respond to other men and women. To dress. To converse. To walk. To dance. And, of course, to eat. It was all clearly defined. I like the classic story of two girls, who grew up in the same town, and later met in Toronto. One was explaining to the other how well her life had turned out.
She had met the most handsome-looking man. He had no bad habits. He always listened sympathetically to all her problems. He had a yacht, a chalet in Switzerland with a private airstrip, and a penthouse beachfront condo in Florida. Her friend kept responding "How interesting, how interesting."
When she then asked her friend how her life had turned out, the reply was: "I attended etiquette school, which taught me many things. Principally, though, it told me how to stop responding to conversation by saying "bullshit", and substituting "How interesting." Etiquette is the learned behavior of a group.
John Wayne was a very courteous man in real life, and there is no doubt his manner helped him to get where he did. A smile, a pleasant demeanor, a good handshake. That hasn't changed. Etiquette is cultural behavior training and comes from your peer group and parents. It usually begins with training in eating. There is no question the main idea is to get the food into your mouth and as little as possible on your clothes.
But there are 999 cultural variations on how to do that properly. You learned to eat from your mother. You think the way she taught you is the right way. If you attended any etiquette-training course, you think that behavior is right. Problems arise because there are so many cultures. There are so many "right" ways. It's difficult to know what to do.
On a tour through Malaysia, I was invited to lunch by a group of seven attractive young women. There are many differences between the dining customs of that group, and those of Canada or Switzerland. First of all, there was no cutlery at all, not even chopsticks. As the guest of honor, they invited me to start the meal. I stalled, and asked them to start. They stalled and insisted I begin.
Finally, I gave up. I well remember the collective gasp when I reached for a piece of fruit with my hand - my left hand. In Muslim countries generally the left hand is regarded as unclean. It is taboo to use it for meals, or really for anything else, such as extending it to give or receive a gift, or touching another person, unless it is impossible to avoid.
This applies even if you are left-handed. There are a lot of taboos and they all have a basis in culture, often not needed any more. In Switzerland if you are seated formally around a table it is taboo to eat anything with your hand, except to accept a piece of bread. But in the case of asparagus, you eat it only by hand. You also never cut it! That is regarded as uncouth. (The reason is that in the olden days knives were made from common metals, and asparagus stained them badly.)
What is this country where you never eat anything by hand, but are required to eat asparagus that way?! In many parts of the United States, for instance, it's okay to drink coffee with your meal. Elsewhere, that's taboo. In Italy, you never propose a toast with a glass of water. It brings bad luck.
If you're dining with a devout Buddhist, Hindu, Jew, or Muslim, you must be aware of the strict dietary rules they were raised with. The whole idea is to adjust to the culture you are in. Eating behaviors, although often complex, are really one of the simpler cultural interactions. But always remember. Everyone thinks they eat the "right" way - their mothers taught them how... So what is the right thing?
My golden rule is that whoever pays, or is the host, is the "leader". That person's behavior sets the pattern for all. Follow him or her and in their eyes you'll do it right!
Peter Urs Bender is one of Canada's most dynamic and entertaining business speakers. He lives and works out of Toronto. He is the author of four best-selling business books: Leadership from Within, Secrets of Power Presentations, Secrets of Power Marketing, Secrets of Face-to-Face Communication, and Gutfeeling.
Showing posts with label Business. Show all posts
Showing posts with label Business. Show all posts
Wednesday, August 29, 2007
Wednesday, August 8, 2007
Become a 'chicken entrepreneur'
Interesting article but true.
http://money.cnn.com/2006/07/21/smbusiness/chicken.entrepreneur/index.htm?postversion=2006072114
No, you won't have to work on a farm or do a funny dance. It just means starting your own business on the side while keeping your day job.
By Jessica Seid, CNNMoney.com staff writer
July 21 2006: 2:28 PM EDT
NEW YORK (CNNMoney.com) -- Always dreamed of starting your own business but too chicken to quit your day job?
Don't worry, that's not such a bad thing; in fact, you may already be on the right track to becoming a successful entrepreneur.
Over 50 percent of small businesses fail in the first year and 95 percent fail within the first five years, according to the Small Business Association. So it may be wise to hold on to your day job until your side business not only launches, but really takes off.
Although it's tempting to devote yourself full time to building a business, working as an employee for someone else means that you have a steady paycheck to rely on if things don't go as planned, said Michael Masterson, author of "Automatic Wealth for Grads . . . and Anyone Else Just Starting Out."
And if your job happens to be in the same industry where you're planning to launch a business, or if you're just out of school, being a chicken entrepreneur gives you all sorts of advantages you couldn't have if you were on your own. For example, you can use your 9-to-5 work to gain experience, amass contacts and build a network in your field.
"I favor this approach because it allows you to extend your wealth and business experience, while working under a safety net in case things don't work out," Masterson said.
Bryan Sansbury, who has formed a group with members of his family to open several Tossed restaurant franchises in the Houston area, is following this strategy.
Sansbury plans to keep the job he has had for the past 11 years, as a human-resources executive with consulting firm Hewitt Associates. He said the skills and knowledge he continues to gain from his work will help contribute to the new venture.
"Frankly I love my job, and it is very operationally focused," he said. "I could bring some of those talents I use on a day-to-day basis" to the business.
In addition, having a steady income makes him and his team more attractive to lenders and banks associated with the restaurant venture, Sansbury said.
Sansbury said the first Tossed salad shop is slated to open this December.
You can follow these tips to start building your business while you're working for somebody else.
Learn something about small businesses and how they are run. Look for what's not working well at your place of employment and what could be done better.
Make sure the job you have now allows you to get experience and contacts in the field where you're hoping to start a business.
Save as much of your salary as possible to invest in your business.
http://money.cnn.com/2006/07/21/smbusiness/chicken.entrepreneur/index.htm?postversion=2006072114
No, you won't have to work on a farm or do a funny dance. It just means starting your own business on the side while keeping your day job.
By Jessica Seid, CNNMoney.com staff writer
July 21 2006: 2:28 PM EDT
NEW YORK (CNNMoney.com) -- Always dreamed of starting your own business but too chicken to quit your day job?
Don't worry, that's not such a bad thing; in fact, you may already be on the right track to becoming a successful entrepreneur.
Over 50 percent of small businesses fail in the first year and 95 percent fail within the first five years, according to the Small Business Association. So it may be wise to hold on to your day job until your side business not only launches, but really takes off.
Although it's tempting to devote yourself full time to building a business, working as an employee for someone else means that you have a steady paycheck to rely on if things don't go as planned, said Michael Masterson, author of "Automatic Wealth for Grads . . . and Anyone Else Just Starting Out."
And if your job happens to be in the same industry where you're planning to launch a business, or if you're just out of school, being a chicken entrepreneur gives you all sorts of advantages you couldn't have if you were on your own. For example, you can use your 9-to-5 work to gain experience, amass contacts and build a network in your field.
"I favor this approach because it allows you to extend your wealth and business experience, while working under a safety net in case things don't work out," Masterson said.
Bryan Sansbury, who has formed a group with members of his family to open several Tossed restaurant franchises in the Houston area, is following this strategy.
Sansbury plans to keep the job he has had for the past 11 years, as a human-resources executive with consulting firm Hewitt Associates. He said the skills and knowledge he continues to gain from his work will help contribute to the new venture.
"Frankly I love my job, and it is very operationally focused," he said. "I could bring some of those talents I use on a day-to-day basis" to the business.
In addition, having a steady income makes him and his team more attractive to lenders and banks associated with the restaurant venture, Sansbury said.
Sansbury said the first Tossed salad shop is slated to open this December.
You can follow these tips to start building your business while you're working for somebody else.
Learn something about small businesses and how they are run. Look for what's not working well at your place of employment and what could be done better.
Make sure the job you have now allows you to get experience and contacts in the field where you're hoping to start a business.
Save as much of your salary as possible to invest in your business.
Friday, August 3, 2007
Ron Kaufman
Ever read his books, Up your service series? Very good book. Talks about ways to improve services. No matter what the business is. As long as it involve 'service', he written ways to improve it. Here is an example of what he has written.
http://www.upyourservice.com/library/CustomerServiceTrainingArticle0103.html
20 Words to Build a Better Future
If you want to increase sales, enhance customer service or consistently improve performance, ask your customers this question (20 words):
‘Is there anything we could do differently the next time that would make it better or more valuable for you?’
This simple question tells customers you are looking to the future, seeking to improve, and grateful for their feedback.
If you want to work more productively between departments, or more effectively with the members of your team, memorize and utilize this question (20 words):
‘Is there anything we could do differently the next time that would make it better or more valuable for you?’
Colleagues will understand you are receptive, not defensive. You welcome new possibilities, approaches and ideas.
If you want a better home or family life, sincerely ask your loved ones this very simple question (20 words):
‘Is there anything I could do differently the next time that would make it better or more valuable for you?’ (I changed one word in the sentence. Find it?)
Key Learning Point
--------------------------------------------------------------------------------
When you close a sale, finish a job or complete a project, don't just wait around for `the next time'. Initiate the conversation for improvement. Your discussion will lead to better relationships, understanding and results.
Action Steps
--------------------------------------------------------------------------------
Repeat this sentence until you can do it from memory, then use it consistently with your customers, colleagues and partners (20 words):
`Is there anything we could do differently the next time that would make it better or more valuable for you?'
Friday, July 27, 2007
Stock Market
Recently our country's stock market is doing well. Reached a high a few days ago. But yesterday it went down and today during lunch time went down again by 20 over points. Now i am not sure how many it translate to in $$$ but 1 point drop is already a lot of $$$.
Met a guy recently and he said the moment you see house wives getting into stock market, you will see the danger signs already. The last time market was bad was in 97/98. The 10 year cycle. Old college lecturer mentioned to the class, during good times do not go into stock market. Go in when the market is down. But you know humans being humans, where got such thing? Thats why when market crash, a lot of hopes and dreams went with it. But there will be one or two who will go in and make big $$ when market is down.
But what is the stock market? How did it came about?
http://www.stockmarketinvestinginfo.com/smi_history.html
Stock Market History
History of stock market trading in the United States can be traced back to over 200 years ago. Historically, The colonial government decided to finance the war by selling bonds, government notes promising to pay out at profit at a later date. Around the same time private banks began to raise money by issuing stocks, or shares of the company to raise their own money. This was a new market, and a new form of investing money, and a great scheme for the rich to get richer. A little futher on the history tumeline, more specifically in 1792, a meeting of twenty four large merchants resulted into a creation of a market known as the New York Stock Exchange(NYSE). At the meeting, the merchants agreed to meet daily on Wall Street to daily trade stocks and bonds.
Further in history, in the mid-1800s, United States was experiencing rapid growth. Companies needed funds to assist in expansion required to meet the new demand. Companies also realized that investors would be interested in buying stock, partial ownership in the company. History has shown that stocks have facilitated the expansion of the companies and the great potential of the recently founded stock market was becoming increasingly apparent to both the investors and the companies.
By 1900, millions of dollars worth of stocks were traded on the street market. In 1921, after twenty years of street trading, the stock market moved indoors.
History brought us the Industrial Revolution, which also played a role in changing the face of the stock market. New form of investing began to emerge when people started to realize that profits could be made by re-selling the stock to others who saw value in a company. This was the beginning of the secondary market, known also as the speculators market. This market was more volatile than before, because it was now fueled by highly subjective speculation about the company’s future.
This was the pretext for appearance of such stock market giants as NYSE. History books tell us that the reason the NYSE is so highly regarded among stock markets was primarily because they only trade in the very large and well-established companies. It acted as a more stable investment alternative, for people interested in throwing their capital into the stock market arena. The smaller companies making up the stock market formed into what eventually became the American Stock Exchange (AMEX). Contrary to the 80-year old history, today the NYSE, AMEX, NASDAQ and hundreds of other exchange markets make a significant contribution to the national and global economy.
The growth in the number of market participants led the government to decide that more regulation of the stock market was needed to protect those investing in stock. History was made in 1934, when following the Great Crash, Congress passed the Securities and Exchange Act. This act formed the Securities and Exchange Commission (SEC), which, through the rules set out by the act and succeeding amendments, regulates American stock market trading with the help of the exchanges. It also includes overseeing the requirements for a company to issue stock shares to the public and ensures that the company offers relevant information to potential investors. The SEC also oversees the daily actions of market exchanges and how they trade the securities offered.
Although historically, investing in stocks was a “hobby” for the rich, an average person too soon came to realize the value of the investing in stocks vs. traditional assets like land or a house.
Stock Market - Explained in Brief
A typical dictionary definition for stock is (the capital raised by a corporation through the issue of shares entitling holders to an ownership interest (equity); "he owns a controlling share of the company's stock").
Stocks are usually explained to be a collection of shares in a company,and are also referred to as stock shares. A stock is a certificate (sheet of paper) declaring you own a small fraction of that company (corporation). To explain further lets look at some of the reasons for why a company might want to issue stock. A company issues a stock so that it might use the money from a stock offering to buy equipment, hire people, advertise, or expand facilities. Basically, stocks help companies grow
Trading in stocks on the stock market is typically driven by speculation, based on company news and performance factors. There are two ways to try and find the market value of a stock. Stock value is determined using some type of cash flow, sales or earnings analysis. This form of stock valuation is based on historic ratios and statistics and aims to assign market value to a stock based on measurable attributes. Another way a stock market can be be explained is to ask one to look at how much investor is willing to pay for a particular share of stock and by how much other investors are willing to sell a stock for. In other words, it explains the market’s supply and demand. This form of stock valuation is very hard to understand or predict, and it often drives the short-term stock market trends.
In 1865, the New York Stock Exchange opened its first permanent headquarters near Wall Street in New York City. The irony of stock market is that companies live and die by their stock price, yet for the most part they don't actively participate in investing and in trading their stocks within the market. Companies get funds from the securities market when they first sell a security to the public in the primary market, commonly referred to as an initial public offering (IPO).
In the subsequent trading of these shares on the secondary market (what most refer to as “the stock market”), it is the average investor exchanging the stock who benefits from any appreciation in stock price. Fluctuating prices are translated into gains or losses for these investors as change of ownership of stock takes place. Individual traders investing in the market acquire the full capital gain or loss after transaction costs. The original company that issues the stock does not participate in investing and taking of any profits or losses resulting from these transactions because this company is not supposed to have any monetary interest in stock market transactions.
From the start there was not need to explan that individuals couldn’t realistically be buying shares of stock directly from the company. Stock market brokers have facilitated the obstacle of individual buyers dealing with companies issuing the stock. A stock broker is someone who performs transactions in stock on a stock market as an agent of their clients who are unable or unwilling to trade for themselves. A firm that buys stock from the company and resells it to the investors is known as the underwriter.
Technology and internet have made investing in the stock market incredibly accessible to the mainstream public. Electronic trading began to grow in popularity by mid 1960s and by 1968 NASD (National Association of Securities Dealers) created the National Association of Securities Dealers Automatic Quotation System or NASDAQ. The trading floor of the ‘new stock market’ is now virtual computer space driven by 21st-century technology that makes investing in stock market EASY. The new technology brings news and other info to the investor, and stock trades can now be done from around the world at lightning speed. Internet stock market trading continues to grow and a special study by the SEC found that as of the second quarter of 1999 there were 9.7 million investors with online trading accounts.
Met a guy recently and he said the moment you see house wives getting into stock market, you will see the danger signs already. The last time market was bad was in 97/98. The 10 year cycle. Old college lecturer mentioned to the class, during good times do not go into stock market. Go in when the market is down. But you know humans being humans, where got such thing? Thats why when market crash, a lot of hopes and dreams went with it. But there will be one or two who will go in and make big $$ when market is down.
But what is the stock market? How did it came about?
http://www.stockmarketinvestinginfo.com/smi_history.html
Stock Market History
History of stock market trading in the United States can be traced back to over 200 years ago. Historically, The colonial government decided to finance the war by selling bonds, government notes promising to pay out at profit at a later date. Around the same time private banks began to raise money by issuing stocks, or shares of the company to raise their own money. This was a new market, and a new form of investing money, and a great scheme for the rich to get richer. A little futher on the history tumeline, more specifically in 1792, a meeting of twenty four large merchants resulted into a creation of a market known as the New York Stock Exchange(NYSE). At the meeting, the merchants agreed to meet daily on Wall Street to daily trade stocks and bonds.
Further in history, in the mid-1800s, United States was experiencing rapid growth. Companies needed funds to assist in expansion required to meet the new demand. Companies also realized that investors would be interested in buying stock, partial ownership in the company. History has shown that stocks have facilitated the expansion of the companies and the great potential of the recently founded stock market was becoming increasingly apparent to both the investors and the companies.
By 1900, millions of dollars worth of stocks were traded on the street market. In 1921, after twenty years of street trading, the stock market moved indoors.
History brought us the Industrial Revolution, which also played a role in changing the face of the stock market. New form of investing began to emerge when people started to realize that profits could be made by re-selling the stock to others who saw value in a company. This was the beginning of the secondary market, known also as the speculators market. This market was more volatile than before, because it was now fueled by highly subjective speculation about the company’s future.
This was the pretext for appearance of such stock market giants as NYSE. History books tell us that the reason the NYSE is so highly regarded among stock markets was primarily because they only trade in the very large and well-established companies. It acted as a more stable investment alternative, for people interested in throwing their capital into the stock market arena. The smaller companies making up the stock market formed into what eventually became the American Stock Exchange (AMEX). Contrary to the 80-year old history, today the NYSE, AMEX, NASDAQ and hundreds of other exchange markets make a significant contribution to the national and global economy.
The growth in the number of market participants led the government to decide that more regulation of the stock market was needed to protect those investing in stock. History was made in 1934, when following the Great Crash, Congress passed the Securities and Exchange Act. This act formed the Securities and Exchange Commission (SEC), which, through the rules set out by the act and succeeding amendments, regulates American stock market trading with the help of the exchanges. It also includes overseeing the requirements for a company to issue stock shares to the public and ensures that the company offers relevant information to potential investors. The SEC also oversees the daily actions of market exchanges and how they trade the securities offered.
Although historically, investing in stocks was a “hobby” for the rich, an average person too soon came to realize the value of the investing in stocks vs. traditional assets like land or a house.
Stock Market - Explained in Brief
A typical dictionary definition for stock is (the capital raised by a corporation through the issue of shares entitling holders to an ownership interest (equity); "he owns a controlling share of the company's stock").
Stocks are usually explained to be a collection of shares in a company,and are also referred to as stock shares. A stock is a certificate (sheet of paper) declaring you own a small fraction of that company (corporation). To explain further lets look at some of the reasons for why a company might want to issue stock. A company issues a stock so that it might use the money from a stock offering to buy equipment, hire people, advertise, or expand facilities. Basically, stocks help companies grow
Trading in stocks on the stock market is typically driven by speculation, based on company news and performance factors. There are two ways to try and find the market value of a stock. Stock value is determined using some type of cash flow, sales or earnings analysis. This form of stock valuation is based on historic ratios and statistics and aims to assign market value to a stock based on measurable attributes. Another way a stock market can be be explained is to ask one to look at how much investor is willing to pay for a particular share of stock and by how much other investors are willing to sell a stock for. In other words, it explains the market’s supply and demand. This form of stock valuation is very hard to understand or predict, and it often drives the short-term stock market trends.
In 1865, the New York Stock Exchange opened its first permanent headquarters near Wall Street in New York City. The irony of stock market is that companies live and die by their stock price, yet for the most part they don't actively participate in investing and in trading their stocks within the market. Companies get funds from the securities market when they first sell a security to the public in the primary market, commonly referred to as an initial public offering (IPO).
In the subsequent trading of these shares on the secondary market (what most refer to as “the stock market”), it is the average investor exchanging the stock who benefits from any appreciation in stock price. Fluctuating prices are translated into gains or losses for these investors as change of ownership of stock takes place. Individual traders investing in the market acquire the full capital gain or loss after transaction costs. The original company that issues the stock does not participate in investing and taking of any profits or losses resulting from these transactions because this company is not supposed to have any monetary interest in stock market transactions.
From the start there was not need to explan that individuals couldn’t realistically be buying shares of stock directly from the company. Stock market brokers have facilitated the obstacle of individual buyers dealing with companies issuing the stock. A stock broker is someone who performs transactions in stock on a stock market as an agent of their clients who are unable or unwilling to trade for themselves. A firm that buys stock from the company and resells it to the investors is known as the underwriter.
Technology and internet have made investing in the stock market incredibly accessible to the mainstream public. Electronic trading began to grow in popularity by mid 1960s and by 1968 NASD (National Association of Securities Dealers) created the National Association of Securities Dealers Automatic Quotation System or NASDAQ. The trading floor of the ‘new stock market’ is now virtual computer space driven by 21st-century technology that makes investing in stock market EASY. The new technology brings news and other info to the investor, and stock trades can now be done from around the world at lightning speed. Internet stock market trading continues to grow and a special study by the SEC found that as of the second quarter of 1999 there were 9.7 million investors with online trading accounts.
Thursday, July 26, 2007
Dos and Don'ts of Negotiating a Salary
Got this article from MSN. Who knows may be some of the info is applicable in this country. I am sure all companies operates under the same thingy....the bottom line.
http://msn.careerbuilder.com/custom/msn/careeradvice/viewarticle.aspx?articleid=327&SiteId=cbmsnhp4327&sc_extcmp=JS_327_home1>1=10166&cbRecursionCnt=1&cbsid=b6fab61b1f92438a9dde4816cfea7f10-238729395-RW-4&ns_siteid=
Dos and Don'ts of Negotiating a Salary
By Kate Lorenz, CareerBuilder.com Editor
As if the résumé writing and panel interviews weren't grueling enough, now you've got to negotiate a salary before you can successfully end your job hunt. "If you want something, you had better negotiate for it." That's the bottom line according to authors Robin L. Pinkley and Gregory B. Northcraft in their book "Get Paid What You're Worth." They note, "Employers routinely will offer you less than they ultimately expect to compensate you with the expectation that you will negotiate."
To help you nail the big bucks, heed these dos and don'ts.
Do arm yourself with as much information as possible by checking out industry Web sites for your occupational and geographic areas and others that specialize in salary information or the U.S. Bureau of Labor Statistics.
Don't overlook information from consulting firms. Mike Nichols, vice president of compensation, benefits and HRIS for Cendant Corporation, places the most confidence in surveys conducted by major consulting firms. "I frequently seek out surveys from Mercer, Hewitt, Towers Perrin and Watson Wyatt," Nichols says. While most of the survey data from these firms is cost-prohibitive for an individual, there are a lot of good articles and information available from their web sites to help you understand how companies view and determine compensation levels.
Do withhold salary information for as long as possible. "Salary information is often used by employers as a screening tool. You want to keep all salary information away from a potential employer for as long as possible so that you're not "screened out" before you even get your foot in the door," suggests Denise Cooper, vice president of human resources for Peoples Energy in Chicago.
Don't feel pressured to divulge a specific figure on an employment application. Instead, write "open," "negotiable" or "competitive" on every application form you complete.
Do delay the salary negotiation process for as long as possible. Each minute spent with your prospective employer is another minute you can use to explore the job and the types of responsibilities it entails. This will allow you more time to focus on your strengths and accomplishments as they relate to the job and demonstrate your value.
Don't be shy about outlining the skills and experience you will bring to your employer and how they will help the organization meet its goals or solve a problem. If there's ever a time to toot your own horn, the time is now. Know what the value of your skills, experience and achievements are worth in the current marketplace.
Do let the prospective employer make the first move into the salary negotiation phase. Knowing what the salary range is for the job will give you an idea of the interviewer's negotiating parameters and will help you gauge how much selling you may have to do.
Don't give the employer an actual figure if you are asked directly about the salary you want. Instead, turn the question around and ask what salary range would be offered in the company for this type of job for someone with similar years of experience, level of expertise and knowledge of the business.
Do be honest about your current salary. Falsely inflating your pay or padding numbers is dishonest and can come back to haunt you when your new employer verifies your past employment . . . and salary.
Don't act too eager to accept, even if the offer was more than you expected. Most employers have some room to negotiate and you should strongly consider making a counter offer. Pinkly and Northcraft found of the companies they interviewed, "Eighty percent told us that the job applicant who negotiates in a professional manner would make the best impression. Only 20 percent said they would be most impressed by the applicant who accepted the offer as made."
Do be professional in your negotiations. Keep the salary discussion positive and upbeat by focusing on why you should be paid what you desire and the value the employer will receive in return.
Don't let your current salary limit your viewpoint of what you're earning potential might be. If your research shows that the industry is paying more than your were being paid, hold out for this higher amount and remind the interviewer of your qualifications and experience.
Do be realistic in your expectations. Some candidates have inflated opinions of what they should be earning. Consider the industry, the economy, your experience and the competition from other potential candidates.
Don't let the employer rush you into accepting a salary that you know you'll be unhappy with soon after you take the job. Let them know that the salary offer is less than what you desire by saying something like, "Taking my experience into consideration and knowing that I have the ability to jump right in and make a difference, I really feel strongly that a salary of $55,000 would be appropriate."
Do aim high. Keep in mind that you can always lower your desired salary expectations, but it's impossible to inflate it once you indicate what would be acceptable to you.
Copyright 2007 CareerBuilder.com. All rights reserved.
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Dos and Don'ts of Negotiating a Salary
By Kate Lorenz, CareerBuilder.com Editor
As if the résumé writing and panel interviews weren't grueling enough, now you've got to negotiate a salary before you can successfully end your job hunt. "If you want something, you had better negotiate for it." That's the bottom line according to authors Robin L. Pinkley and Gregory B. Northcraft in their book "Get Paid What You're Worth." They note, "Employers routinely will offer you less than they ultimately expect to compensate you with the expectation that you will negotiate."
To help you nail the big bucks, heed these dos and don'ts.
Do arm yourself with as much information as possible by checking out industry Web sites for your occupational and geographic areas and others that specialize in salary information or the U.S. Bureau of Labor Statistics.
Don't overlook information from consulting firms. Mike Nichols, vice president of compensation, benefits and HRIS for Cendant Corporation, places the most confidence in surveys conducted by major consulting firms. "I frequently seek out surveys from Mercer, Hewitt, Towers Perrin and Watson Wyatt," Nichols says. While most of the survey data from these firms is cost-prohibitive for an individual, there are a lot of good articles and information available from their web sites to help you understand how companies view and determine compensation levels.
Do withhold salary information for as long as possible. "Salary information is often used by employers as a screening tool. You want to keep all salary information away from a potential employer for as long as possible so that you're not "screened out" before you even get your foot in the door," suggests Denise Cooper, vice president of human resources for Peoples Energy in Chicago.
Don't feel pressured to divulge a specific figure on an employment application. Instead, write "open," "negotiable" or "competitive" on every application form you complete.
Do delay the salary negotiation process for as long as possible. Each minute spent with your prospective employer is another minute you can use to explore the job and the types of responsibilities it entails. This will allow you more time to focus on your strengths and accomplishments as they relate to the job and demonstrate your value.
Don't be shy about outlining the skills and experience you will bring to your employer and how they will help the organization meet its goals or solve a problem. If there's ever a time to toot your own horn, the time is now. Know what the value of your skills, experience and achievements are worth in the current marketplace.
Do let the prospective employer make the first move into the salary negotiation phase. Knowing what the salary range is for the job will give you an idea of the interviewer's negotiating parameters and will help you gauge how much selling you may have to do.
Don't give the employer an actual figure if you are asked directly about the salary you want. Instead, turn the question around and ask what salary range would be offered in the company for this type of job for someone with similar years of experience, level of expertise and knowledge of the business.
Do be honest about your current salary. Falsely inflating your pay or padding numbers is dishonest and can come back to haunt you when your new employer verifies your past employment . . . and salary.
Don't act too eager to accept, even if the offer was more than you expected. Most employers have some room to negotiate and you should strongly consider making a counter offer. Pinkly and Northcraft found of the companies they interviewed, "Eighty percent told us that the job applicant who negotiates in a professional manner would make the best impression. Only 20 percent said they would be most impressed by the applicant who accepted the offer as made."
Do be professional in your negotiations. Keep the salary discussion positive and upbeat by focusing on why you should be paid what you desire and the value the employer will receive in return.
Don't let your current salary limit your viewpoint of what you're earning potential might be. If your research shows that the industry is paying more than your were being paid, hold out for this higher amount and remind the interviewer of your qualifications and experience.
Do be realistic in your expectations. Some candidates have inflated opinions of what they should be earning. Consider the industry, the economy, your experience and the competition from other potential candidates.
Don't let the employer rush you into accepting a salary that you know you'll be unhappy with soon after you take the job. Let them know that the salary offer is less than what you desire by saying something like, "Taking my experience into consideration and knowing that I have the ability to jump right in and make a difference, I really feel strongly that a salary of $55,000 would be appropriate."
Do aim high. Keep in mind that you can always lower your desired salary expectations, but it's impossible to inflate it once you indicate what would be acceptable to you.
Copyright 2007 CareerBuilder.com. All rights reserved.
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