5 Tips & Tricks on Effective Negotiation: Event Recap

Last Tuesday, to quote our amazing speaker Mitra Kiamanesh, “We teased the topic of negotiation”. Having over 30 years of international experience in mediation, intercultural project management, conflict resolution and negotiation, Mitra opened our eyes on a few key things we have to prepare for and keep in mind whether we enter a negotiation in our professional or personal lives.

“In business as in life, you don’t get what you deserve, you get what you negotiate.”

- Chester. L. Karrass

1. Ask for What’s Feasible

Before starting, say, a  salary negotiation, do your homework! What is the industry average? Does the company need you? What is the company’s current state? What is the ceiling? What are some of the arguments the company might have against your proposal and how would you prove that you deserve that promotion? Coming in prepared, with statistics to back up your asks, will add weight and professionalism to your points.

2. Everyone is Right

If you think about it, everyone thinks that their perspective is the right one. However, with this approach an agreement can never be reached as everyone’s “right” does not match. It is important to think about similarities and differences in your points of view and negotiate around them. Don’t ignore cultural sensitivities! We all come from different backgrounds and have different points of view.

3. Have a Reservation Point

Coming into negotiation, have these three things figured out: what you want - the ideal outcome, what are your maybes - things you can play around with and are willing to concede on, and your non-negotiables. You have to be true to yourself and strict about your non-negotiables. If a negotiation starts putting your non-negotiables at risk, you have hit  your reservation point and it’s best to walk away to avoid regretting any decisions made.

4. Environment and Body Language Matter

Be very mindful of the setting in which negotiation takes place. Certain seating arrangements, for example, can either make or break a conversation. For example, a round table is inviting and erases any power dynamics as everyone can see each other and sit at the same level.

As for body language tips and tricks, nobody said it better than Amy Cuddy, you can watch her TED talk here: https://www.ted.com/talks/amy_cuddy_your_body_language_shapes_who_you_are?language=en

5. Linda, Listen!

We can’t stress enough how crucial it is to practice active listening. Acknowledging the fact that you heard and understood what the other person was saying by rephrasing his or her words will show that you were listening, you care about their position and you want to reach an agreement. This type of listening  calms people down and sets an overall positive atmosphere.

On the importance of listening: https://www.youtube.com/watch?v=TP8RB7UZHKI

If you have any questions about the content of the session or would like to join us at an upcoming event, check out our events page. We can’t wait to meet you!

Q & A with Mark Savard - Covenant House Vancouver

We recently held our Mingle & Jingle winter social and had the opportunity to partner with Covenant House Vancouver. Following the event, we asked Mark a few questions about his work at Covenant House Vancouver, how to get involved, and what advice he has for the YWiB members.

 

Can you tell us about Covenant House, your role there, and how you got involved?

Founded in 1997, Covenant House Vancouver offers a clear exit from life on the street for youth aged 16 to 24. We make this possible through a carefully designed Continuum of Care including a daily drop-in, a 54 bed residential crisis program, a transitional living program, relapse prevention, and life-skills training. Each and every day, young people come to us damaged from the abuses of their past, desperately needing love and guidance. Over the next year, more than 1,400 homeless young people will come to Covenant House Vancouver and take the first steps in creating a better life for themselves.

My name is Mark Savard and my role is Development Officer – Community Giving. I’m part of the Development and Communications team which includes: fundraising, volunteers, communications, and gifts-in-kind administration. I’m responsible for working (and fundraising) with: schools, community groups, service clubs, employee groups, and stewarding third party events (individuals or groups creating events benefitting Covenant House). I’ve been in this particular role for 8 years and have been on this team at Covenant house for 10 years. I always say that I ‘fell into it backwards’ – starting out on contract. I’ve had the opportunity to grow with the agency and I’ve never looked back! From my first day here I was very impressed with the program delivery model.

Youth accessing Covenant House’s programs and services are met ‘where they’re at’. They drive what they want to do and are accompanied through their journey with us by Youth Workers. Some youth may use all three programs; some may need just one. It all depends on their individual needs. We refer to our programs collectively as our ‘Continuum of Care’. Ultimately, we provide the programs and services that allow youth to leave the streets behind for good by providing a hand up, and not a handout.

With winter upon us, how can people best support or get involved with Covenant House and the great work you do?

There are a few options to help Covenant House in its work with homeless youth:

Donating items:

Gently used clothing appropriate for youth in our age range of 16 to 24, donating new toiletry items, socks, and/or underwear. Non-perishable food is welcome however it does need to be commercially prepared (we can’t accept food made at home).

Financial donations are always welcome:

We’re 95% privately funded so individuals, corporations, foundations, community, and employee groups sustain the work we do. You can donate online, via phone, or mail. You can also become a monthly donor!

Third party events:

People can hold all kinds of fundraisers from bake sales to birthdays. We have a peer-to-peer fundraising website where people, groups, and/or teams can set up fundraising pages then encourage friends and family to support them (they get instant tax receipts when donating online).Short-term volunteering: We hold thank-a-thons in our offices at the Drake Street building. This involves calling donors to simply say ‘thank you’ for their recent gift. We do this twice per week in October and November (plus a few dates in December) then again in February, April, and May. The application is brief and not the same process as the regular volunteer positions.

Long-term (regular) volunteer positions:

To hold a regular volunteer position at Covenant House you need to be at least 26 years old. There’s a fairly rigorous process involving: an application, one-on-one meeting with our Manager of Volunteers, police check, and group orientation.

Mentor Program:

This is a new opportunity to act as a mentor for youth residing in our transitional living program. You have to be at least 25 years old and be able to meet with your mentee once per month in person and be available via phone and/or email once per week.

What piece of advice would you give to the members of Young Women in Business Vancouver in regards to professional and/or personal development?

My grandmother told me, “never stop learning”, which I’ve endeavored to do (and I’m middle aged now!). It doesn’t have to be learning in the formalized (school) sense, but being open to new ideas, networks, and opportunities. When networking and meeting new people, I think about what I could possibly do for them and what other networks I know of that they could benefit from. Of course everyone you meet has a story so there’s learning potential from each person you encounter!

A couple of my favourite quotes come from Eleanor Roosevelt:

“Do one thing that scares you every day”.

“You have to accept whatever comes and the only important thing is that you meet it with courage and with the best that you have to give”.

Blueprint Mentorship Spotlight: Gloria Eid

  Our mentorship cohort that graduated this June all achieved, learned, and grew in many ways over coffee chats, workshops, and hard work for six months together. Each one of them reflected that these relationships gave them new perspective into their careers and selves, more clarity on where they were headed and how to get there efficiently, and a ton of support.

In anticipation of mentee applications opening again for our 2016 cohort in just one week, September 1, we highlight one mentee's experience.

Gloria Eid

Current Job: Program Manager, UBC

Blueprint Participant: Mentee

What were your goals for YWiB Vancouver's Blueprint program?

In October, I had an idea to start a blog focused on communication, creativity, and teamwork. In only the first few years of my career, I've learned many lessons from the workplace and I wanted to build an avenue to share these experiences with other young professionals. I was interested in learning more about the entrepreneurial lifestyle and the transition from working for a business to having your own.

Describe your mentor, Conny Millard, and how she was a good fit for you.

It feels like I could not have had a better fit for a mentor! One of my favourite things about her approach to business is that she is full of strategy and planning, yet so naturally starts from the heart in all that she does. It's also how I aspire to live and work.

What was something Conny said that really stuck with you?

After I launched my blog, Conny published a blog post herself that featured me. It took me by complete surprise, but it was so touching. That small action really meant a lot to me, as she was one of my biggest supporters and motivators behind launching my blog.

What inspired you most about Conny?

The boundaries she has learned to set for herself to build a life and business she loves. I'm also inspired by her own dreams that she is currently building and putting into action. It's inspiring to see my own mentor take on new challenges and growing as well!

What were the most valuable lessons, conversations, or development that came out of your discussions?

During one of our conversations, I was focusing a lot on feelings of disappointment during a time of a challenge and change management at work. Only a few months into the change, I couldn't help but feel like I was not doing enough, and was being hard on myself. She listened and let me share it all, and then simply said, "Now tell me, from your work in these last few months, what are the changes you have made so far? What are the things you are proud of?" It took me a few moments to shift my mindset, but I was able to share five or six significant changes and contributions, both big and small, I made in my first few months of the role. I felt a release after that exercise, and was reminded to be gentle with myself.

In another conversation, Conny was sharing some of the work her clients do and with my background in professional communication, she asked me for some thoughts around presentations/public speaking and other communication practices. Her response and comments to my suggestions were so positive and encouraging! She showed such interest and excitement in what I had to say, and I truly felt like I was offering expertise and valuable suggestions. I felt validated in my knowledge and experience, and was reminded that I do have things to offer in the world of professional communication and people development.

Did you use anything you worked on with Conny in your career?

So much. One example: as with many of us with a job that is driven by emails and meetings, I have difficulty carving out time in the workday for project work and thinking time. In a conversation with Conny, I proposed that I would block out time in my calendar during the first hour of every morning strictly for project work, and will never start the day with a meeting. From 11:30-1pm, I block out time for exercise and lunch. The last half hour of every day is meant for a wrap-up and a plan for the next morning's hour of project work. I'm excited to see how I keep this up throughout the summer months, when work gets into really high gear.

Another example is removing the fluff from my emails. As someone who values professional and respectful communication, I spend a lot of time crafting emails - the tone, subject line, sign-off, etc. - even with emails to my direct team. Recently I told my team to not expect all the fluff anymore. My responses will be short and direct as much as possible to my team, so that I can spend the time on emails to people and partners who need the effort. My direct team was very supportive and encouraging, and, in fact, felt permission to do the same when they need it! While I thought I would be viewed as choosing not to be thorough with them, they all understood it was just a way to keep things simple during challenging and hectic times. Keep communication clear and open first, then just keep it simple.

I feel very lucky to have been given the opportunity to participate in the program and have absolutely loved the relationship I've built with my mentor.

Want to apply for YWiB Vancouver's mentorship cohort starting January 2016? We are accepting applications starting September 1, 2015. Just go to the Blueprint Mentorship page for more details!

How to Save Smart!

Considering Vancouver is consistently ranked as the world’s most expensive city, Vancouverites could benefit from being a bit closer with their personal finances. If you missed Forward Finance, our event last Tuesday co-hosted with YWiB Vancouver sponsor, Tangerine Bank, you're in luck because we took notes! Nicole Wells, VP at Tangerine Bank, dished out very helpful tips for saving smart and what you need to consider when budgeting for a home.

Take stock of your debt and savings

If you have debt, do you have a strategy to pay it off? When you're in debt, it's intimidating to even think about how to handle it, but a strategy can be as simple as deciding how much money per month you can comfortably put towards paying it down, and calculating how many months it will take to zero it out. Then make sure to do it. All it takes is a recurring monthly transfer from your chequing account, and you can set that up easily online with most banks.

Are you contributing monthly to a savings or investment account? Hate to burst your bubble (no Vancouver housing market joke intended), but you need to be saving a reasonable chunk of change if you want to be down-payment ready! Whether you pay off all your debt before starting to save is up to you, but take a look at what you're paying in interest. Lots of times it will make sense to pay the debt off first.

TIP:It’s okay to save money and pay your debt down simultaneously. No one says you have to pay all your debt off first.

Identify small sacrifices from your living expenses

Want to boost your monthly savings? Consider everything you purchase on a daily basis. Which items are frivolous and when do you pull out your wallet even without thinking? If owning your own property (or buying a car or whatever your longer term >3-5+ year goal) is worth more than your morning breakfast, then ditch the nonfat, sugar-free vanilla lattes or breakfast croissants. Nicole also gave us an excellent piece of advice: “small sacrifices” are the key to stick to your savings plan. Saving can be like being on a diet: go cold turkey on something you truly love, and you’re likely to fail. So, if caffeine is something you literally can’t be without and a coffeemaker is foreign to you, taper back to 2-3 days per week or pick something that won't hurt so much.

TFSA vs RRSP

These are two “programs” with different rules. The money you put into a Tax-Free Savings Account is taxed today; you don't pay tax on it later on when you withdraw the funds. Money you put into an RRSP is not taxed today; the tax is deferred, meaning it's paid when the funds are withdrawn.

Which is best? It has to do with the tax bracket you’re in now the one you expect to be in when you take your money out. This means you need to think... When are you planning to purchase your home? If you’re in at a higher tax bracket today than you expect to be when you withdraw, an RRSP is your best bet. You will defer the tax payment until later and it will be taxed at your lower rate.

Time to buy!

Before you start looking at properties, know exactly what you can afford on a monthly basis and draw a big, fat, black line right there. Do not forget to include those one-time costs associated with: legal fees, home insurance, moving costs, and all other expenses associated with buying a home. These add up in a hurry, and they’re not insignificant.

Another reason not to stretch your wallet has to do with mortgage payments. A 5-year fixed rate mortgage is typical…but what happens after those 5 years? Interest rates go up and down, and once your 5-years is up, your mortgage is now subject to change. Unlucky for you if interest rates are higher than they once were. It can add a considerable amount to your monthly payment, and if you only squeezed by during the last 5-years, you can imagine how tough it will be. Tangerine recommends setting aside about 3 weeks equivalent of your salary for time when making payments is tight. TIP: A healthy monthly mortgage payment is roughly 20-25% of your monthly income.

When possible, take advantage of prepayment options. It can amount to saving tens of thousands of dollars over the life of your mortgage!

A huge thank-you to Nicole Wells and everyone from Tangerine Bank!

------------ DISCLAIMER: The above information is not intended for nor constitutes investment, financial, tax or legal advice from either Young Women in Business or Tangerine Bank, and should not relied upon for those or any other purposes. Finances are personal and everyone's circumstances, needs, and goals are different. Consult a financial advisor before making investments.

Inhale Confidence, Exhale Doubt.

We all aspire to become that version of ourselves who is at ease in any given environment. A person who speaks with conviction, knows what assets they offer, what values they have, and where they belong. Though, sometimes, it seems like only a select few are ever lucky enough to obtain this kind of confidence.

Most of us have experienced high and low confidence levels at various periods in our lives. External situations or events and our internal responses to those situations or events can cause confidence levels to rise or fall. As unenjoyable as the lows can be, this underlines an important fact: confidence is malleable. How incredible a power would it be if you could harness the ability to influence your confidence?

Well, it's time to find out this Saturday, Feb 28.

YWiB Vancouver is incredibly excited to host a confidence workshop led by Adrienne Danielson, life coach and Director of Training and Development at H.Y. Louie. Adrienne has worked with corporations, non-profits, and independents for over 25 years. This ain't her first time at the rodeo, let's just say, and she's going to teach you strategies for attaining that "perma-confidence".

Some of the most esteemed business schools in North America (Stanford, for example) offer full courses that focus on dissecting people's own personal fears and emotions, identifying where and how they interfere with their lives, and addressing how to face or affect them. These schools recognize that it is often our own heads that become obstacles in the way of our success.

Register quickly to reserve a limited seat at this Saturday's workshop, usually $150!

It's important to come with an open mind. As with many soft skills and topics, things can get a little touchy-feely at times. We get that not everyone feels comfortable with this type of environment, but it's well worth the experience if you keep yourself open to the process and focused on the learning. Many of Adrienne's past clients sing her praises, so if we can't convince you that you'll strut out of Saturday a new, taller you, just take it from them:

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"Working with Adrienne this past year was much more than mental training enhancement for a work place environment; it was mental training for life. I have been in the grocery industry for over 25 years. Adrienne has always maintained that great technical and tactical skills are not enough; we need to train our mental and emotional dimensions to fully harness our potential...her philosophies became a foundation in my daily life. I highly recommend anyone pursuing excellence in any industry to spend some time with Adrienne. My only regret in working with Adrienne is that it didn’t happen years ago!"

Grace MacInnes, Assistant Store Leader, Fresh Street Brand

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"Adrienne takes a very non-traditional approach to leadership and life coaching and by doing so, is able to provide each individual with greater ownership of their own growth. She explores the inner motivation, goals, and mental barriers of each individual and guides you towards your own decisions. Her ability to pinpoint certain areas and explore them further with you provides you with clarity you didn't know you needed. My experience with Adrienne was life-changing and provided me with clarity on my career path, core values that drive my decision making, and the type of leadership qualities I want to encompass as I grow professionally. Adrienne is extremely talented at supporting your own thoughts as you work through, in your own mind, what it is you need to do to get the results you want. This is a rare quality. After working with Adrienne, I have found success in my chosen career path and have had several opportunities arise because of the clarity I have gained about myself."

Kiran Dhinsa, E.I.D., Canada Border Services

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"Adrienne is a natural teacher, she has an ability to say things that align perfectly with what an inividual needs to gain insight and awareness of themselves in ways they never saw or considered. She is able to create a feeling of safety and trust very quickly which encourages you to express yourself openly and honestly and allow yourself to be vulnerable and open up in ways you wouldn't normally. She is also skilled at getting to the heart of things, quickly and accurately. She is able to help you become aware of old thought patterns that do not support you in a positive way and assists you to develop new ways of thinking that are more productive.

I leave conversations with Adrienne feeling more focused, lighter, more confident in my potential and a renewed belief in "anything is possible in life". 

Robert Hyslop, Independent Owner/Operator, The Re-Store

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"I met Adrienne at a YWiB networking event and we hit it off. I decided to hire Adrienne as a coach because I was at a crossroads with my career, working in an environment that wasn't fulfilling, I wondered what was the best next step. As an avid planner, I wanted to work with someone who would help me understand my goals and career aspirations by breaking me out of my typical way of thinking (read: I'm a worrier). Adrienne helped me lay the ground work for understanding my skills and abilities and how I could lead the search for the job I really wanted. She also helped me take steps to improve my thinking patterns (read: less worrying, more optimism). Working with Adrienne was not only a complete success, but she is overall, one of the loveliest people I have ever met. I would recommend her to anyone wishing to embark on a journey of personal growth." 

Marianna Adamian, Content Marketing Manager, Recombo Inc.

Beyond the Glass Ceiling: Meet Fran Strike of TD Commercial Banking

Leading up to our Beyond the Glass Ceiling: Executive Inspiration event on April 30, we’re taking the time to introduce the amazing women behind this powerhouse panel! Get ready to meet these top female execs in person for a panel and networking session to remember. #YWiBbtgc

It’s only two days away! Don’t forget to reserve your spot here.

Meet…

Fran Strike Vice President & Manager at TD Commercial Banking

As Vice President, Fran leads a team of Business Banking professionals who are responsible for client services, business development and risk management in Vancouver.

Fran joined TD Commercial Banking in 1982 and progressed through the organization to her first executive appointment as Vice President and Manager of the Burnaby Commercial Banking Centre. Fran returned to Vancouver in 2009 to assume leadership of the Vancouver team.

Fran has worked with many community organizations over the years, including the United Way and St. Michaels Hospital in Toronto. She has held Board positions for the Association of Women in Finance and the TD Private Giving Foundation.

What will you ask Fran at #YWiBbtgc?

Branch Out at YWiB Vancouver’s Spring Vino Chat

Ahh, Springtime has arrived! Bits of sunshine, warmer temperatures, and the longer days are giving us energy to take life on headfirst.

Spring is synonymous with “new growth”, so challenge yourself to carry that theme into your professional life. Come crawl out of your Wintery daze, dust off the ol’ networking skills and come see what other young professionals in this city are up to. It's so easy to feel content with our usual circles and routines, but it's important to have a social-aspect to your career...this is exactly where those unexpected opportunities and offers often come from.

With that, YWiB Vancouver’s Spring Vino Chat is a perfect place to branch out and connect with some new people. Drop by for a quick hello, or stay to enjoy a handcrafted cocktail ($1 off with your registration) and grab a bite while you’re there. Either way, we’d love to see you, and you’ll likely leave with a new friend or two.

Meet us at…

The Butcher & Bullock Thursday, March 27^th 6:30pm (but don’t forget to register!)

We recommend bringing personal or business cards for easy info swapping ;)

‘Til then!

YWiB Van