THE ART OF SUCCESSFUL NEGOTIATING

Reading Hospital and Medical Center

- OB/GYN Department -

March 17, 2006

Susan B. Orr, EsquireTsoules, Sweeney & Martin, LLC

Exton, PA 19341Tel: (610) 423-4200Fax: (610) 423-4201

e-mail: sorr@tshealthlaw.com

2Copyright© 2006 Tsoules, Sweeney & Martin, LLC

GOALS

• FORGET THE “I WIN, YOU LOSE” APPROACH

• TAKE THE “WIN-WIN” APPROACH:- BOTH PARTIES WIN AND FEEL GOOD- DEVELOP A SUCCESSFUL RELATIONSHIP

WITH YOUR EMPLOYER

3Copyright© 2006 Tsoules, Sweeney & Martin, LLC

BEFORE NEGOTIATING, KNOW:

• WHAT YOU WANT

• WHAT YOU ARE WILLING TO CONCEDE

• WHAT YOUR WALK-AWAY POINT IS

• KNOW WHO YOU ARE DEALING WITH

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KNOW WHAT IS IMPORTANT TO YOU

• COMPENSATION- SALARY

- BONUS- VACATION TIME- DISABILITY

• WORKING CONDITIONS- HOURS / ON-CALL RESPONSIBILITY

- HOSPITAL COVERAGE- MOONLIGHTING

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KNOW WHAT IS IMPORTANT TO YOU

• BENEFITS- MALPRACTICE (TAIL COVERAGE)- MCare ABATEMENT- HEALTH INSURANCE (SELF / FAMILY)- DISABILITY / LIFE INSURANCE - CELL PHONE - AUTOMOBILE EXPENSES

• CONTINUING MEDICAL EDUCATION- TIME OFF (1 WEEK)- ALLOWANCE ($1,500 - $2,000)- CERTIFICATION EXAMS

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DO YOUR RESEARCH BEFOREHAND!

• FIND OUT ABOUT THE PRACTICE- SIZE - # OF PROVIDERS

- LOCATION - WITH WHOM WILL YOU- SPECIALTY MIX BE MEETING

• LOOK AT THE CURRENT MARKET- SALARY RANGE / BENEFITS

- OTHER AVAILABLE OPPORTUNITIES- WHO’S YOUR COMPETITION

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THE FIRST INTERVIEW

• BUILD RAPPORT

• BE HONEST : BE YOURSELF

• ASK THE RIGHT QUESTIONS

• LEARN ABOUT THE PRACTICE

• HOLD OFF ON NEGOTIATIONS

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BE IN CONTROL

• FACE YOUR FEARS- THEY WON’T GIVE YOU WHAT YOU WANT

• YOU HOLD THE ULTIMATE POWER - SIGN AGREEMENT OR WALK AWAY

• ACT PROFESSIONAL, NOT SMUG

• BE CONFIDENT

• LISTEN AND PICK UP CUES

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LET THE GAME BEGIN!

• LET THE PRACTICE MAKE THE FIRST OFFER

• NEVER TAKE THE FIRST OFFER

• DON’T TIP YOUR HAND

• DO NOT PRESENT YOUR WALK-AWAY POINT AS THE INITIAL OFFER

• IF OFFER IS UNREASONABLE, TELL THEM, BUT DON’T COUNTER OFFER

10Copyright© 2006 Tsoules, Sweeney & Martin, LLC

HOW DO I GET MY DESIRED SALARY?

• TALK ABOUT SALARY LAST

• SPEAK IN RANGES- DON’T LOWBALL

• IF SALARY IS LESS THAN WHAT YOU WANT, CONSIDER:- BONUS / FUTURE SALARY- ASKING FOR ADDITIONAL

BENEFITS

• AVOID “SPLITTING THE DIFFERENCE”

$1,000,000

$ 750,000

$ 500,000

$ 250,000

11Copyright© 2006 Tsoules, Sweeney & Martin, LLC

NOW THAT NEGOTIATING HAS BEGUN…

• LEAVE ROOM TO CHANGE YOUR POSITION

• THROW IN SOMETHING THEY WANT

• CONCEDE ITEMS THAT YOU DO NOT CARE ABOUT

• MAKE CONCESSIONS PROGRESSIVELY SMALLER, NOTLARGER

• CHOOSE YOUR BATTLES WISELY

• DO NOT MAKE UNREASONABLE REQUESTS

12Copyright© 2006 Tsoules, Sweeney & Martin, LLC

ARE WE THERE YET?

• DO NOT RELY ON A HANDSHAKE

• VERIFY THE CONTRACT AGREES WITH THE NEGOTIATED TERMS

• CHECK THE DETAILS

• DO NOT BE AFRAID TO ASK FOR CHANGES