Contract Negotiations Essay

419 Words2 Pages
Contract Negotiations Contract negotiations take place when two or more parties discuss issues and points of a potential partnership arrangement. “Almost all contract negotiations pivot on four major areas: (1) wages and issues that can be directly related to wages; (2) employee benefits or economic “fringe” supplements to the basic wage rate; (3) “institutional” issues that deal with the rights and duties of employers and unions; and (4) “administrative” clauses that treat such subjects as work rules and job tenure” (Sloan, 2010, pg. 273). Many times organizations reach out to contract negotiators to help nail down a contract that both parties can agree on. Being a successful contract negotiator means having several necessary skills and knowledge. Contract negotiators must process certain knowledge of negotiations and skills to ensure their success when dealing with contracts. “Negotiators must process a working knowledge of trade union principles, operations, economics, psychology, statistics, and labor law” (Sloan, 2010, pg. 234). In order for negotiators to be successful, they must do their research and understand everything surrounding a contract. Negotiators must have knowledge of both parties. Being able to perform research effectively is a skill contract negotiators must process. Speaking is another skill contract negotiators must process. Being able to effectively speak will help contract negotiators get both parties to an agreement that will give the best results. Being able to influence is also a necessary skill for negotiators. Both parties need to trust the negotiator and if he or she can influence both parties it will help create a better final scenario. There are several strategies contract negotiators can use to get more favorable results. Preparing diligently for each negotiation is the strategy that would produce the greatest results. In
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