THE BENEFITS OF SALARY NEGOTIATION TO BOTH EMPLOYEE AND THE EMPLOYER

Hello and welcome to the hive blockchain, this is the Naija community weekly prompt edition 91, my name is @rishagamo and below is my entry.

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Salary negotiation is simply a situation where a candidate looking for a job position in a firm is being asked for his/her salary expectation during a job interview, where the employer which is a very vital part of an interview process, although where I am from hardly are people aware of their rights to negotiate for their salaries and employees mostly don’t see the need to negotiate salaries before start of employment, this is usually so because of the limited job opportunities and the numerous amount of qualified people to fill this limited positions, a lot of people have had rejections in numerous times and once they get accepted or in the process of the interview, they don’t see the need to negotiate their salaries while the employers usually feel the same way too, in some cases and also feel that there are a lot of people out there with no jobs looking for the few opportunities available and will decide to pay any employee whatever they chooses to without having to agree first with the individual.

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Salary negotiation is important for so many reasons, it allows the employer to know the salary expectations of individuals helping them acquire great talent and in the process, a positive relationship between the employer and the employee is built. By negotiating salaries, it allows for competitive salaries and benefits which is necessary if an employer wants to attract and retain great talent to its firm. Successful salary negotiation fosters a good relationship upfront between the employer and employee, this is also a very crucial aspect of employee productivity. A good salary negotiation fosters long-term motivation and satisfaction by employees.
On the other hand, salary negotiation fosters fair compensation which may reflect the value the firm may have for their employee and also the growth potential in the firm, an employee through salary negotiation may have an idea of the value the company has for his time and input to the firm and will also have an idea in regards to the speed of his growth in the company, being able to know when he will be promoted and if there is a standard percentage or time to salaries increment through his years of service. Having a good salary negation increases job satisfaction and has a strong impact on long-term earnings potential.

A case study of the transportation sector where there exist different firms competing for the marketplace, firm A has a salary benchmark and is open for negotiation, while Firm B is rigid and pays low, Firm B with an open salary negotiation will have with no doubt more satisfied employees, and with that comes efficiency and retain staff, employees in Firm B will stay longer in the company while Firm B will have less satisfied staff, having low efficiency and with any better opportunity, the employees of firm B will leave for the better opportunity, which usually has a negative impact to the companies productivity and will sometimes result to lost of business since some of these employees will go to their new firms with there clients.
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