Negotiation Training for Transformation: Prioritizing 2024 Learning Initiatives

By RED BEAR January 11, 2024 | 7 min read

The business landscape changes, markets shift, and world events evolve. One key to staying agile and competitive in this environment is to approach learning and development (L&D) initiatives with the significance they deserve.

When an organization values training and sustained learning, it can hone its edge in its industry and stay a step ahead. One area that pays in both tangible fiscal returns and employee growth is negotiation training. The right approach to negotiation, whether it’s sales, procurement, or cross-cultural negotiations, can position your team to tackle the challenges of 2024 and beyond. 

RED BEAR is a leader in the negotiation training industry. Not only is our training utilized by over 45% of the Fortune 500, but for every dollar invested into our workshops, our clients receive an average return of $54. 

More than just ROI, though, our workshops are designed to transform and empower individuals to enter any negotiation with confidence and the ability to uncover win-win outcomes and reach optimized deals.

Let’s explore why negotiation training can be a valuable asset in any organization’s L&D planning in 2024.

The Emerging Focus on L&D Budgets

In a recent survey of L&D professionals, it was estimated that next year’s budgets will increase by 18% on average, with only 5% of respondents saying they most likely won’t see an increase.

As the slow recovery from the COVID-era wanes, and new opportunities emerge, there is no mistaking that the business landscape has changed — both for the good and bad.

On everyone’s agenda are trending initiatives like digital transformations, new adaptive skills to stay agile in the post-COVID world, and, of course, the competitive advantage gained through continuous learning strategies. But, with an increased budget and a laundry list of learning needs, the importance of effectively allocating these resources cannot be underestimated. 

One future-proof skill? Negotiation.

Investing in the right programs, like the ones we offer here at RED BEAR, can help businesses understand the complex dynamics of negotiation and find success with everyone, from clients and suppliers to external business partners and internal team members.

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Our approach to negotiation training covers the fundamentals of successful negotiation and doesn't rely on manipulative tactics or one-time-use strategies. Instead, participants learn the skills, tools, and behaviors they need to craft profitable, value-based agreements.

Why Choose Negotiation Training for 2024’s Learning Initiatives?

If the last few years have been an indication, the ability to stay agile in different business environments is mission-critical. Negotiation training is more than just getting the best deal; it’s about balancing the initial self-interested approach to negotiation with the drive to collaborate and find mutually beneficial outcomes. When you can build strong relationships, your organization is better positioned to tackle the common challenges facing organizations today.

Inflation, supply chain shocks, raw materials shortages, emerging markets, the list goes on. Skilled negotiators are able to approach these challenges strategically, securing better deals, optimizing existing resources, and nurturing those business relationships that provide value time and time again.

Negotiation training is also a key element of employee development

According to Gartner, employee turnover is 50-75% higher than in previous years. Team members need motivation to see their path forward in the company — they need to feel valued.

There’s no better way to display that to a team than investing in the right training.

Negotiation training can contribute to increased confidence, improved communication skills, and enhanced decision-making abilities. Moreover, these are skills employees take with them throughout not just their professional careers but their own individual lives as well.

“Negotiation training can contribute to increased confidence, improved communication skills, and enhanced decision-making abilities.”

In short, negotiation training can be the key to building sustainable business relationships, fostering trust, and crafting win-win outcomes. But, the right training matters.

The RED BEAR Edge: A Closer Look

So, what do you get when your team starts your negotiation journey with RED BEAR?

We follow a 4-step engagement process to ensure your team not only learns the fundamentals of successful negotiation but also retains and practices this new knowledge effectively.

It all starts with strategic alignment.

Here, we’ll work with your team to better understand your specific goals and challenges. From here, we move into the experiential learning phase. Interactive and immersive education is the key to facilitating deeper learning and skill retention, and that’s what this phase is all about. But what happens after the workshop ends?

Coaching and reinforcement is another key step in the engagement process. We offer ongoing coaching sessions to ensure skills are reinforced and applied in real-life situations. 

Last, our training delivers results. That’s why we offer post-workshop surveys and independent evaluations so businesses know exactly what the value of RED BEAR Training looks like in their bottom line. 

Innovative Approaches for Modern Challenges

As the business landscape changes, so does the way RED BEAR approaches training. 

Take the shift toward remote/hybrid workforces. As of 2023, around 12% of full-time employees work from home. One of the challenges for L&D leaders is to choose training that can be effective even for distributed teams. On that front, RED BEAR is a leader.

We offer virtual training options that provide the same level of effectiveness as our in-person workshops. Whether it’s budget limits, travel restrictions, or just remote teams, there’s no reason why every team member can’t have access to world-class training. 

Of course, remote work is only one challenge businesses face. There’s also the growing importance of cross-cultural negotiation skills in a globalized environment. Our Cross-Cultural Negotiation Training equips professionals with the tools they need to understand and navigate cultural differences effectively to foster more productive international business relationships.

No matter what challenges your team faces, our training provides value.

Preparing Your Team for Success

For L&D leaders interested in finding an effective training partner, an initial step is to develop a request for proposal. Be sure to review our blog, Making the Right Choice: How to Create a Negotiation Training RFP, for more information.

Always be sure you align your L&D goals with broader organizational goals and KPIs to make sure outcomes support business objectives. Measuring the success of training is also a key element of displaying value to leadership. While RED BEAR offers measurement strategies, L&D leaders should consider pre- and post-training evaluations, performance metrics, and feedback mechanisms to better understand the training’s impact.

Of course, training is only one element of a successful L&D initiative. Creating a culture of continuous learning and skill development is not only valuable but encouraged. This can include refresher courses, peer learning sessions, and much more. 

Making sure knowledge and skills stick is just as important as the training itself. 

Here, RED BEAR can play an invaluable role. Our workshops, leveraging our 4-step engagement process, factor these approaches in so your team can start using their learned knowledge to find success fast.

Get the Training Your Team Deserves

As L&D professionals approach their 2024 initiatives, budgets are getting bigger, and challenges are evolving. Negotiation training is one future-proof skill that provides value time and time again. But, not every training company values the fundamentals of successful negotiation. Instead, they offer manipulative tactics that fall flat and strategies that very rarely work outside of the training session.

Here at RED BEAR, we leverage a comprehensive approach to training that not only covers the fundamental knowledge of effective negotiations but also provides the tools your team needs to thrive in the shifting landscape of 2024 and beyond.

Get in touch with the RED BEAR team today to learn more about your workshop options.

Fill out our contact form and we will be back to you in no later than one business day.

 

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