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Fitch Learning

Negotiation Skills for Financial Professionals

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Negotiations

Description

Working effectively in any role involves building relationships when there are conflicting objectives. Managing these requires a variety of capabilities and skills. The key ability is to be able to collaborate effectively. Although easier said than done, it defines those who foster an environment where success tends to flow in spite of challenges and constraints. Most negotiators worry about being either too aggressive or not assertive enough whilst working with clients or colleagues. From engaging with clients who seem to want to change specifications on a daily basis, through to coordinating between different departments, the challenges remain the same: be assertive without becoming aggressive. This practical one day programme offers insight and challenge around the techniques that separate the best negotiators from the rest.

Learning Outcomes

  • Recognise what differentiates successful negotiators from less successful negotiators
  • Understand what negotiated success is
  • Have increased confidence to negotiate with new contactors, suppliers, clients and colleagues
  • Observe the Principled Negotiations Model
  • Understand the roles of emotion, dirty tricks and the fear of failure within any negotiation
  • Learn processes to manage challenges and non-principled behaviours when experienced from other parties

Understanding what drives Negotiators and Negotiations

  • Define what constitutes negotiated success
  • Understand the challenges and constraints facing any negotiator
  • Explore positional barter, its traits and limitations
  • Recognise the traits of successful Negotiators, and the mistakes that negotiators make

The Principled Negotiations Model

  • Fully recognise the importance of trust within negotiations. Create a collaborative working environment which actively encourages client builds and projects etc
  • Appreciate the importance of understanding fundamental motivations of all parties
  • Generate movement from impasse situations
  • Make effective proposals that generate rapport, discussion and movement
  • Develop techniques to help build your understanding of the other person’s frame of reference.

Managing Emotion while Negotiating

  • Appreciate how to manage the core concerns positively to avoid triggered emotional response
  • Understand the styles that people adopt when conflicting
  • Observe and manage the negative impacts of conflict situations
  • Recognise the importance of assertive communication to the process of moving beyond conflicts and towards productive working relationships

Handling Unilateral Control

  • Observe how people seek to use power to control outcomes while negotiating
  • Learn processes for deconstructing attempts to create synthetic power advantage
  • Recognise Dirty Tricks when used in negotiation. Appreciate their usage and understand how to manage.
  • Understand when (and how) to walk away from other parties in a constructive manner.

Who should attend

Financial Professionals

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