After months of networking, submitting resumes and conversations with recruiters, an opportunity finally presents itself to interview for a position in your area of expertise. How do you maximize this interview, knowing that it should be a two-way conversation? During this interview there should be an exchange of information and the negotiation of one or more items other than salary.
The open question is, are you ready?
As in any negotiation, preparation is key. Yes, a job interview is a negotiation. You have a set of interests that need to be satisfied before you will accept the position. Salary, including any signing bonus, vacation, benefits and other items may not be discussed in the initial interview. The potential employer also has a set of interests that need to be satisfied. They seek a candidate with a certain level of industry-related experience, maturity and expertise. Some of their interests may overlap with yours, while others such as salary or benefits may not. So, how do you plan to bridge this gap? The strategy you need to adopt is a higher level of preparation. What are the components of such a preparation strategy?
First, research the company you will be interviewing with. Learn about its business model, marketplace reputation, market share, products and service offerings. Perform a Google search and review related articles on this employer in industry and professional publications. Use a national payroll provider like ADT to establish a salary range for the position in your region. This is a critical step in your preparation. I have worked with numerous candidates who found that the salary offered was below the industry average. One employer was not aware of this fact and permitted the candidate to adjust the offer.
Second, check with your network, in addition to LinkedIn, and locate current and or prior employees. Engage them in conversation about their work experience, any challenges they may have faced and the company culture. Reach out to your business contacts and past vendors and seek their counsel.
Third, complete a decision matrix prior to each interview to identify your non-negotiable items and those that require negotiation. Non-monetary items such as quality of life issues like travel, required overtime, commuting distance and working conditions can be “deal breakers.” If these items are relevant, engage your significant other, husband, wife or partner in the development of this matrix. Your goal is to achieve alignment in your priorities.
Fourth, now that you have completed steps one through three, start laying out your negotiation strategy. You now can organize your interests into three categories: aspire to, content with and unacceptable. You need to establish a “line in the sand” and not cross over it. Once you review each item, rank them from most important to least important. The least important items you should be willing to concede or trade in order to achieve one or more “aspire to” items. For example, you may accept a signing bonus or additional personal time off, in lieu of a higher starting salary. In today’s hybrid environment you may negotiate one or more remote days and operate from your home office, thereby reducing childcare expenses.
Knowing this will be a two-way conversation, and you have completed the first four steps, you can now assemble a list of questions you may have for the hiring manager, recruiter or HR manager. These questions should be designed to gather information that will assist you in your decision-making process. For example, questions about their onboarding process, performance appraisal timing and opportunities for growth. You may also have specific questions about benefits, such as vacation and personal time off. The timing of these questions is critical and should be posed towards the end of the interview, unless the interviewer asks if you have any concerns or questions. At some point, a clarifying question could be posed during the interview about a particular statement or offer.
By raising your level of preparation, you will increase the probability of a successful outcome, while reducing the potential for anxiety. You also have gained more confidence in your ability to obtain the outcomes you desire. Even if this interview does not result with a job offer, you have still gained a great deal of self-confidence and experience that you can apply to the next opportunity.
