Tough negotiations? Be creative and bring in a Mediator
Negotiations whether as part of a merger, an acquisition or a goods and services contract can involve challenging conversations particularly when the terms are being negotiated. With so much at stake, both parties invest money, time and energy in trying to get a deal done and therefore it is hardly surprising that occasionally the deal seems elusive as the parties become locked in their positions and yet are reluctant to work away after establishing the future positives that a deal could deliver.
Mediation is not just a tool for dispute resolution
Mediation can enable parties committed to entering into a relationship overcome deadlock by changing the dynamics of the negotiations. By engaging the mediator, the dynamics shift and the parties can safely consider their strategies, goals, aspirations and needs in a confidential environment that progressively supports those involved to find their solution.
A mediator is particularly helpful when it comes to the parties having to work together after the deal is done. The process of mediation draws the parties together as they explore their common interests, which can enhance their relationship and future plans as opposed to forcing a division. This approach transforms the dynamics of a traditional negotiation into one in which all concerned can ensure that their interests have been explored, considered and addressed in the agreed outcome.
Work flexibly towards a desired outcome
Whether it be one mediator working between two organisations or co-mediators working as a team between a number of interested groups, everyone works towards the desired deal being done. The structure of the mediation itself is very flexible and directed by the mediator. It can comprise of face to face meetings between all or just one representative that can then separate into private discussions and individual conversations. It is always helpful to have the key issues for exploration agreed between the parties at the outset and with that, the mediator(s) will then facilitate the process to ensure that the parties have the best possible chance of reaching agreement.
There does not have to be a court case looming for a mediator to be engaged and support the parties to a transaction. Being creative in your negotiations and introducing an accredited neutral mediator who is skilled in helping the parties work together to achieve their best solution is a positive step to achieve that previously elusive deal.
For more information about using mediation during contract negotiations and how it can work for you, please contact Sarah Canning on 01604 828282 or email firstname.lastname@example.org.