Amna Zaidi is a leading business transformation advisor, consultant and international speaker. As a qualified Chartered Accountant, Amna first reported to a company Board at aged just twenty-four, as the only female, Asian and Muslim in her position, an experience that has shaped her.
Spending over two decades working in banking and financial services for companies including NatWest/The Royal Bank of Scotland, Deloitte and Lloyds HBOS, Amna can step into almost any industry supporting top level executives from the Boardroom to C-Suite, advising on business transformational matters ranging from takeovers, mergers, all forms of negotiation, leadership training, employee engagement, inclusion and diversity and more to ensure responsible strategies for long-term business success.
Negotiation is a term that can conjure up lots of emotions, from excitement to apprehension. Yet, it’s a skill woven into the fabric of our daily lives, whether we’re aware of it or not. From bargaining for a better price at a market to negotiating a major business deal, we all engage in negotiation. However, the approach we take can make the difference between a win-win outcome and a lost opportunity.
I’ve spent the last twenty years of my career leading transformational change in some of the largest banks, often stepping in to recover programmes. What I’ve come to realise is that leading change is essentially one big negotiation. It’s about guiding people through complex and often threatening changes, managing conflicts, and fostering relationships that allow for collective success.
One of the key insights I’ve gained is that successful negotiations are built on empathy and strategic thinking. This is not just about closing a deal – it’s about ensuring that all parties feel heard and respected, which lays the foundation for long-term collaboration.
The role of empathy in negotiation
Negotiation is often perceived as a battle where the strongest or most cunning wins. However, the reality is that negotiation is when the prize is not dominance, but connection. Where understanding and addressing the needs of all parties involved leads to more successful and sustainable outcomes. Empathy allows leaders to see beyond their own interests and consider what the other side values, making it possible to craft solutions that benefit everyone involved.
Empathy doesn’t mean giving in or compromising your position; rather, it’s about finding a balance that benefits both sides. A negotiation where one party walks away feeling short-changed is unlikely to lead to a lasting relationship. By approaching negotiations with empathy, you’re more likely to reach a win-win outcome that encourages future cooperation.
Strategic thinking
While empathy is crucial, it must be paired with strategic thinking to navigate the complexities of negotiation. Preparation, understanding the other party’s motivations, and being clear on one’s own goals are essential steps in this process.
Strategic thinking also involves being prepared for various scenarios and knowing when to walk away if necessary. This approach ensures that negotiations are not just about winning in the moment but about securing long-term success and maintaining healthy relationships. This clarity not only strengthens your position but also signals to the other party that you’re serious and well-prepared.
Examples of everyday negotiations
Negotiation isn’t confined to boardrooms or high-stakes business deals. It’s a part of everyday life. Whether it’s negotiating a salary, asking for a flexible work arrangement, or even persuading your child to eat their vegetables, the principles remain the same. It’s about understanding what the other party values, preparing your case, and finding a solution that benefits both sides.
For example, when negotiating a pay rise, it’s essential to know the market rate for your role and to gather evidence of your achievements. This data not only supports your request but also demonstrates your value to the company. Approaching the conversation as a business transaction, calmly and professionally, can significantly increase your chances of success.
When negotiating with suppliers or potential business partners, understanding the other party’s needs and aligning them with one’s own goals is essential for creating a partnership that benefits both sides.
Negotiating opportunities for personal growth, such as additional training or flexible working conditions, involves making a case for how these benefits align with the company’s interests as well as one’s own.
Why bringing in an experienced advisor is wise
Given the complexities of negotiation, bringing in an advisor with experience and expertise can be a wise decision. An advisor can provide an objective perspective, help identify potential pitfalls, and guide you through the negotiation process. They bring a wealth of experience in managing high-stakes negotiations and can help you achieve outcomes that might be difficult to reach on your own.
Advisors can also play a critical role in upskilling your team, ensuring they’re equipped with the tools and strategies needed for effective negotiation. Whether it’s navigating a complex business deal or recovering a stalled project, having the right advisor by your side can make all the difference.
Having the courage
Reflecting on my own journey, I’ve learned that courage is an essential component of successful negotiation. It takes courage to ask for what you deserve, to stand your ground, and to walk away when necessary. But it’s this courage, combined with empathy and strategic thinking, that leads to truly transformational outcomes.
As leaders, we must continue to develop our negotiation skills, not just for our own benefit, but to foster environments where all parties can succeed. By leading with empathy and preparing strategically, we can turn negotiations into powerful tools for change and progress.
Harness the power of empathy and strategic thinking in your next negotiation. Start transforming your approach today – reach out to explore expert guidance and unlock lasting success in your professional and personal negotiations.
