This post is brought to you in partnership with Queens University of Charlotte.
Want to make more money, be more promotable, and have a stronger team in 2018? Here are three tips from management science that can help.
Tip #1: How to Negotiate a Better Salary Through Offering a Range
We’ve been taught that offering a range in negotiation doesn’t work in most cases. However, a study by Columbia professors Daniel Ames and Malia Mason suggests that you will fare better in a salary negotiation if you use “bracketing” or “bolstering” ranges instead of asking for a single aggressive number.
So, for example, say you want $60K. The popular wisdom is to ask for $60K. However, if you want to build a relationship and create a positive first impression, offering a fairly narrow bracket like 55-63K leads to better results. If you’re in a company that values assertive behavior, consider a bolstering range within reason such as $60-70K.
Tip #2: Don’t Let Being Authentic as a Leader Hold You Back
Don’t allow what’s worked for you in the past to dictate your future at work. In writing about the “paradox of authenticity” at work (Harvard Business Review article), Professor Herminia Ibarra notes that people often stick to what they know and consider their authentic selves in order to get ahead. Unfortunately, she notes, to be successful in your career, you have to stretch yourselves in ways that make you uncomfortable, trying new ways of doing things and thinking that broaden your skill base.
For example, when you’re promoted this year from a sales associate to a marketing analyst, don’t rely on your freewheeling, schmoozing style if what’s required is the ability to create data-driven marketing plans for clients.
Tip #3: Focus on Building Trust with Your Team
The ability to engage your employees is critical to your success since engaged employees are more productive at work. According to a 2017 Harvard Business Review article by Paul Zak, companies are still adrift in how to heighten engagement. Zak’s article describes behaviors that you can use as a manager to engender trust and create oxytocin, a chemical that aids strong teamwork. For one, be intentional to facilitate relationship building in the group. Gone are any days of demeaning team-building and management activities. Take your team to an escape room. Or create an eating space that’s desirable for everyone to be together.
Also consider being vulnerable yourself. Occasionally ask for assistance from someone rather than simply directing others. Allow people to work autonomously by providing resources, supporting stretch goals, and then getting out of the way. Lastly, encourage employees to job craft by choosing projects that they find interesting. These tactics will provide a more joyful and productive team with fewer sick days and less burnout.
Dawn E. Chanland, D.B.A., is an associate professor of Management at Queens McColl School of Business, where she teaches MBA courses. Queens’ MBA program is the most flexible in the region and tailored to meet your needs. With classes on campus in the evening, online, or a mix of the two, you can choose your path. You’ll be able to work at your own pace, with the option to customize your MBA with a concentration.
Want to learn more about Queens University of Charlotte’s MBA program? Click here for more information.