Online Negotiation in a Time of Social Distance
This post has been viewed 2,867 times.
The COVID-19 pandemic has curtailed face-to-face meetings and travel, but dealmaking is still possible. Here are best practices for negotiating at more than arm’s length.
During the COVID-19 pandemic, these negotiation best practices will need to be set aside, as negotiating in person is no longer a safe option. But that doesn’t mean dealmaking can’t continue. Thanks to the array of communication media we have available to us—from phone calls to videoconferencing to text messages—we can keep doing business even when we’re far apart. Here are five guidelines:
Toggle between different communication media. Even when working from home, negotiators have a dizzying array of media at their disposal, including phone calls, conference calls, videoconferencing, emails, and texts. Which to choose? Throughout your negotiation, pick the tool best suited to the present task. Early in an online negotiation, you may be focused on building rapport and assessing the other party’s interest in doing a deal. If so, a videoconference will offer ample verbal and nonverbal cues, such as eye contact, body language, and tone of voice, in addition to potentially bringing together multiple parties in far-flung locations. Later in the process, emails and file-sharing apps may be best for exchanging detailed proposals and collaborating on documents. Have a quick idea to share? Try a text or a WhatsApp chat. Whenever you feel irritated or confused by an exchange, pick up the phone to sort things out.
Don’t make this the new normal. After the coronavirus runs its course and social-distancing restrictions are lifted, negotiators will once again be able to meet and shake hands. But, having experienced the ease and cost savings of phone and online negotiation, many will be tempted to keep dealmaking exclusively online. That would be a mistake, as less efficient deals and more transactional relationships will be the inevitable result. If you launch new partnerships through online negotiation, consider meeting in person (when it’s safe to do) to get to know each other better. Then, even as you take advantage of virtual negotiation tools, remember the importance of meeting face to face periodically to discuss how your deal is going and to brainstorm new opportunities for collaboration.
Read original articleTags:
