What Negotiation Strategies Should You Use to Propose a Contract Renewal for Nurse Practitioner

Whether y'all're a newly graduated nurse practitioner or an experienced NP, contract negotiation can be intimidating to even the nearly confident people. Poor salary negotiation doesn't merely affect y'all – it reflects on our profession and sets a precedent for NPs interviewing backside you. If you take less, then the NPs below you lot volition be offered less besides.

Why Is Contract Negotiation Hard for NPs?

Negotiating goes against a nurse'southward nature. The best qualities of nurses – caring and empathy – work against the states during negotiation. Place these traits bated and bring your communication capabilities, attention to detail, and leadership skills to the forefront.

There is a gender gap in negotiating. Men earn nearly 25% more money than women considering they negotiate more aggressively. Traditional gender roles and the nature of nursing ultimately compound the gender gap. Nurses – and women in general – are often expected to be accommodating, considerate of others, and human relationship-oriented. These traits tin make it difficult for women to be assertive negotiators. In contrast, the societal expectation of male person nurses – and men in general – involves a competitive, profit-oriented, and aggressive personality. As a result, men are more than comfortable negotiating pay and benefits.

Nurse practitioners are more needed and valued than ever! Co-ordinate to the 2011 Institute of Medicine report "The Future of Nursing: Leading Change, Advancing Health," NPs will lead the country in caring for crumbling babe boomers, serve every bit champions in primary care, and continue to be a part of the largest health intendance workforce in the U.S. A off-white bacon is essential to reflect the value of NPs, and reasonable salary negotiations benefit the profession equally a whole.

Confidently Negotiate Your Contract past Post-obit These 4 Steps

1. Prepare For the Conversation

a. Research NP salaries. In the U.Southward., this can vary by location and hospital network. An online search tin help, but the all-time resource will exist your NP peers. Call previous clinical preceptors or enquire professors what salary to look later on graduation.

b. Get together groundwork information nearly the practice. What is the community and patient population? How many physicians and providers are in the practice?

c. Practise conviction! Perfect your trunk language by sitting up direct and avoiding fidgeting. Keep your tone of phonation pleasant and maintain eye contact throughout the conversation.

ii. Say No To The Starting time Offer

If the offset salary offer seems below average or is not where you'd hoped it would be, it may be a low-ball number. So how do you know what to counter offer?

a. Aim to add at least 10% to the initial proposal. Information technology'due south likewise a proficient thought to research the market rate for the position in your area, taking into business relationship your pedagogy and experience level, and summate your counter offer accordingly.

b. Be prepared with reasons as to why you are requesting more. Practise y'all hold boosted credentials or certifications? Do you have extensive niche experience? If an employer wants to know why you lot are counter-offering with a higher salary figure, be certain to highlight why you are worth it.

3. Annual Salary Isn't the Only Consideration – Exist Prepared to Address Boosted Perks

a. Negotiate orientation time – An advisable mentored orientation fourth dimension – especially for a new graduate – is three to six months. Make certain to include this orientation time in the contract, as informally-discussed orientation times can end up shorter than agreed upon.

b. Are you lot taking afterward-hours calls? Go paid for information technology. In some practices, later-hours and weekend call time is a regular office of employment. Expect additional pay for on-call hours.

c. Negotiate your contract yearly. It's not unusual for an employment agreement to automatically renew annually. Holding a yearly review of your work and a discussion for new contract terms is standard and allows you lot to renegotiate salary and other contract terms.

d. Remove any restrictive covenants. A restrictive covenant (or a not-compete clause) is set to prevent you from working within a specific area (unremarkably within 25 miles) of the do and tin can exist in identify for i to five years after your employment ends. Never agree to sign a contract with a restrictive covenant. These restrictions force NPs to move or commute long distances and if you leave the organization for any reason, the restrictive covenant even so stands.

eastward. Termination . Both parties should share the aforementioned terms to end the employment agreement. Health care providers give 3 months notice when they resign and conversely, the practice should be required to provide the NP with the aforementioned three months notice of termination. Information technology takes 90 days or more to find some other job and consummate the credentialing process.

f. Negotiate a bonus. Information technology is possible to receive an annual bonus based on performance and practice success. Sometimes, Relative Value Units (RVU) determine bonus pay. RVU, used by insurance companies to pay providers, is based on the extent of the provider's work, necessary resources, and expertise in providing patient intendance. Medico partners receive year-end rewards and so should you!

four. Sleep On Information technology

Don't give an immediate respond. Take at least a day to consider the proposal and decide if the job and contract detail is right for you lot.

Negotiating the right contract delivers professional satisfaction and respect from practise direction, which ultimately benefits the NP profession. Never be afraid to go out of your condolement zone and negotiate!

Fran Fasching, DNP, RN, FNP-BC

Fran Fasching is the possessor of Nurse Practitioner Professional Medical Writing (NP2 Medical Writing). She is an assistant professor of nursing at DeSales University, PA and a practicing emergency nurse practitioner. She is passionate near continuing education and advocacy in nursing.

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Source: https://www.nursepractitioneronline.com/articles/tips-for-np-contract-negotiation/

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