worksheet-compensation-fall2020 (1)

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University of Waterloo *

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MISC

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Management

Date

May 11, 2024

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docx

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2

Uploaded by GeneralLlama1968 on coursehero.com

THINGS TO PLAN FOR IN YOUR COMPENSATION NEGOTIATION ROLE PLAY Round # of Negotiation: _______1____________________Your Name & Role: ___Employer 2B________________ 1. What are your role’s primary underlying interests and goals (i.e., why do you want to negotiate on these issues)? 2. Prioritize the issues of your role ADD MORE ROWS & COLUMNS AS YOU SEE FIT Name of Issue Priority (Rank) Notes Retain this employee 1 They are a valued and unique employee (best worker I’ve ever had) Make sure that compensation is not equal to that of a manager 2 However its unfair to managers if I award this employee the same benefits. 3. What is your best guess as to the other party’s primary underlying interests and goals? - More authority/significance in the company - More financial stability - More prestige to their name - Being recognized 4. What is your best guess at predicting the Other party’s priorities for these issues? ADD MORE & COLUMNS AS YOU SEE FIT Name of Issue Priority (Rank) Notes Higher pay 1 Increase in salary or more bonus More travel benefits 2 A higher-class travel accommodations More flexible working hours 3 Working less or work from home more
5. What may be mutually beneficial or common ground issues? The main idea is that employee must be given more compensation in order to retain them. 6. What may be competitive issues? Must find a common ground where they are compensated but not as much as a manager’s level of compensation 7. BONUS QS: Given your priorities and your guesses about the other party derive Multiple Equivalent Simultaneous Offers that you may propose in the role play (use an excel spreadsheet if you wish)
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