The recent roundtable focused on empowering women in partnerships through mastering negotiation skills. Jen Waltz interviewed Akilah Murrell, Gauri Chawla, and Xiaofei Zhang, who shared personal insights, preparation strategies, and the importance of mental readiness in negotiations.
We have found that this session left us with many key takeaways, such as:
1. Self-Belief and Preparation
- Akilah emphasized the need for self-belief, thorough preparation, and having a clear plan. She highlighted the importance of being honest with oneself and aligning negotiation tasks with business outcomes.
- Xiaofei stressed that everything is negotiable and recommended “Never Split the Difference” for its practical advice. She pointed out that preparation helps to overcome mental blocks and understand the elements of a compensation package.
2. Understanding Self-Worth
- Gauri focused on knowing one’s self-worth and identifying what is most important, whether it’s money or other factors. She advised securing an internal or external champion and seeking insights from employment lawyers.
- Both Akilah and Gauri agreed that women often hesitate to ask due to fear or lack of knowledge, and emphasized that asking bravely can lead to greater recognition and leadership opportunities.
3. Creating Value and Expanding the Pie
- Xiaofei highlighted the importance of creating value in negotiations rather than just claiming a share. She encouraged expanding the pie to benefit all parties involved.
- Gauri supported the idea of a win-win approach, where successful negotiations create mutual benefits and foster positive perceptions.
4. Mental and Strategic Preparation
- The discussion underscored the significance of mental preparation and the strategic aspect of negotiations. Understanding the other party’s perspective and priorities can lead to better outcomes.
- Akilah mentioned that negotiating skills can build confidence and should be practiced regularly.
5. Overcoming Common Challenges
- Participants acknowledged common challenges such as mental blocks, lack of negotiation knowledge, and the fear of offending others. They encouraged women to seek advice and share experiences to gain valuable insights.
- Xiaofei emphasized that knowing one’s worth and being prepared to say no are crucial components of effective negotiation.
For those ready to elevate and sharpen their negotiation skills, we recommend starting with the following steps:
- Self-Grading and Improvement: Attendees are encouraged to use the provided rubric to self-grade and identify areas for improvement in their negotiation skills.
- Exploring Resources: Participants should explore recommended books, podcasts, and courses on negotiation and leadership, including “Never Split the Difference” and the Partnernomics series.
- Joining ERGs: Attendees are advised to join or create Employee Resource Groups (ERGs) in their organizations to support women’s career development.
- Interactive Practice Sessions: Future sessions will be planned to allow attendees to practice negotiation scenarios and receive feedback.
The roundtable provided valuable insights into the art of negotiation, emphasizing the importance of preparation, understanding self-worth, and creating value. Empowering women with these skills can significantly impact their career growth and financial success. The upcoming AMA session for Partnership Leaders members and other resources, such as the Essential Skills for Negotiation Mastery, will further support women in mastering negotiations!
