Application
This unit describes the skills and knowledge required to take part in negotiations as an individual or member of a team, plan and prepare, and apply effective negotiating techniques to finalise an agreement.
It applies to individuals who may use a range of specialised techniques in job roles across all sectors of the financial services industry.
No licensing, legislative or certification requirements apply to this unit at the time of publication.
Elements and Performance Criteria
ELEMENT | PERFORMANCE CRITERIA |
Elements describe the essential outcomes. | Performance criteria describe the performance needed to demonstrate achievement of the element. |
1. Plan negotiation | 1.1 Clarify purpose of negotiation, including content and desired outcomes 1.2 Select approach to take based on analysis of strength and weakness of position, and most appropriate negotiating style 1.3 Identify consequences of not reaching agreement and determine other alternatives 1.4 Collect, analyse and organise all information relevant to negotiation |
2. Conduct negotiation | 2.1 Use effective presentation skills, speaking, listening and questioning techniques to put forward a strong argument to other parties 2.2 Conduct negotiation in a professional manner, including showing respect for those with whom negotiations are conducted 2.3 Use effective techniques for dealing with conflict and breaking deadlocks, where required 2.4 Confirm final position, ensuring agreement and understanding by all parties |
3. Finalise negotiation | 3.1 Accurately document agreement including timelines for agreements to be implemented, if appropriate 3.2 Evaluate outcome of negotiation and decide if further action is required |
Evidence of Performance
Evidence of the ability to:
plan, conduct and finalise negotiations that result in mutually acceptable agreements for negotiating parties
work cooperatively and treat all parties professionally and with respect during all stages of the negotiation
document outcomes of negotiations following organisational procedures.
Note: If a specific volume or frequency is not stated, then evidence must be provided at least once.
Evidence of Knowledge
To complete the unit requirements safely and effectively, the individual must:
identify and describe different negotiating styles
describe the role of presentation skills and questioning techniques in conducting negotiations
outline conflict resolution strategies and techniques that can be used to break deadlocks
describe key features of organisational policy and procedures relating to negotiating outcomes
identify and outline key requirements of relevant legislation and industry codes of conduct that apply to customer service negotiations in financial services work.
Assessment Conditions
Assessment must be conducted in a safe environment where evidence gathered demonstrates consistent performance of typical activities experienced in the customer service field of work and include access to:
common office equipment, technology, software and consumables
relevant industry codes of conduct and legislation.
Assessors must satisfy NVR/AQTF assessor requirements.
Foundation Skills
This section describes language, literacy, numeracy and employment skills incorporated in the performance criteria that are required for competent performance.
Skill | Performance Criteria | Description |
Reading | 1.1, 1.2, 1.4, 3.2 | Interprets, analyses and evaluates a range of textual information from a variety of sources to inform planning, approach and completion of negotiations |
Writing | 1.1, 1.3, 1.4, 2.4, 3.1 | Addresses context, purpose and audience when generating texts which record relevant information Uses correct vocabulary, punctuation and grammar to document agreement outcomes |
Oral Communication | 1.1, 2.1-2.4 | Demonstrates flexibility in spoken interactions, in a range of verbal interactions, using persuasive language to present positions and reach agreement Uses careful listening and questioning techniques to clarify and confirm understanding |
Numeracy | 1.1 | Extracts and confirms relevant numerical information from sources relating to the negotiation |
Interact with others | 1.1, 2.1-2.4 | Selects appropriate communication practices and protocols, adjusting personal communication style in response to the values, beliefs and cultural expectations of others Collaborates with others to achieve agreeable outcomes, playing an active role in facilitating consensus in potentially contentious situations |
Get the work done | 1.1-1.4, 3.1-3.2 | Plans and organises processes and documentation related to negotiations Applies problem-solving skills to address negotiation issues Evaluates the consequences of decisions to inform future actions Uses the main features and functions of digital tools to complete work tasks and access information |
Sectors
Customer service