Wage Negotiation – How Much Information Should Each Side Be Required to Disclose In Wage Negotiations?
Following links to be used as sources please:
https://www.payscale.com/career-news/2016/09/asking-salary-history-soon-illegal-50-states
https://www.themuse.com/advice/how-to-negotiate-salary-37-tips-you-need-to-know
How Much Information Should Each Side Be Required to Disclose in Wage Negotiations?
When starting a new job, both employee and employer need information. This information is to be used for the salary negotiation. Salary negotiation is an indispensable part of communication between employer and potential employees but asking a candidate about previous salary or wage seems unethical and probably illegal in the future. It is due to the benefit that employers usually take when deciding the salary. The employer must need information regarding the experience, skills, abilities, and qualifications. Instead of comparing the previous salary of the applicant, this information is essential for the employer to offer accordingly. The wage negotiation should be done with the perception of the job description, needs, and the company standard. The firm or employer has to maintain their own standards instead of depending on the previous wage or salary of the candidate. It opens ways for candidates to negotiate well and receive according to expectations (Hubley, 2016).
From the perspective of the candidate, it is compulsory to know some key employment trends. The most important thing for the candidate is to know his value. He must know what he can do for the company. In other words, he must know his possible contributions to the company, and accordingly, negotiate the salary. In an organization, employees usually want to negotiate or renegotiate the salary right after different performance reviews. The negotiator must know the right time. For Instance, the employee must start negotiation when the company creates or decides the budget. The employee must know some questions which are to be asked in the negotiation process. For Instance, if an employee is promoted in the company after the performance review, he may ask different questions about the new job description, roles, and responsibilities. The employee can negotiate according to his role instead of discussing the last salary (The Muse Editor, 2018).
References
Hubley, L. J. (2016, September 9). Asking For Salary History Could Soon Be Illegal In All 50 States. https://www.payscale.com/career-news/2016/09/asking-salary-history-soon-illegal-50-states
The Muse Editor. (2018, January 1). How to Negotiate Salary: 37 Tips You Need to Know. https://www.themuse.com/advice/how-to-negotiate-salary-37-tips-you-need-to-know
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