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Negotiating in Person Versus Virtual Negotiations - EP 38
Description
There are some key differences between negotiating in person versus doing so virtually. When meeting face-to-face, it is easier to build rapport and trust with the other party. Seeing someone's facial expressions and body language helps both sides understand the other's perspective. It is also simpler to have informal side conversations that can move the negotiation forward in a more fluid, organic way. However, in-person negotiations require more planning, travel time and costs associated with getting everyone together physically.
Virtual negotiations conducted via videoconference or phone eliminate the need for travel but make establishing rapport more challenging. Without in-person cues it is harder to read another party's reactions and know when to push further on an issue or concede a point. Technical difficulties can also potentially hamper the flow of virtual discussions. However, virtual formats have increased flexibility as negotiators can connect from anywhere at any time based on their schedules. Exchanging revised offers and documents is also simpler digitally.
While building trust is tougher online, maintaining detailed notes and finding ways to personalize virtual interactions such as using video can help overcome some of the impersonal aspects. With practice and the right strategies, negotiators can develop their virtual skills just as effectively as doing deals in a traditional face-to-face setting. Both in-person and virtual negotiations have pros and cons, so understanding these differences can optimize outcomes regardless of format.
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The Global Professional Podcast
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