Floating Icons on Left Border

How to Minimize the Financial Impact of COVID-19 Through Effective Negotiation?

  • 26th Aug'21

2020 will always be remembered as the eventful year that changed the way we used to live. It is all due to the Covid-19 pandemic, and as the world is fighting back to eliminate it wholly, we are now stuck in a critical phase where everything is at its lowest. One such troubling issue is tackling financial impacts caused by the Coronavirus lockdown worldwide.

It is a time of uncertainty where signed contracts are at risk, organizations are releasing employees, and have taken upon remote working. The situation is like a virtual life that you may have seen in one of those sci-fi, futuristic movies. Never mind, because what matters the most right now is how we can minimize the financial impact of Covid-19 that has left most of us reeling financially.


Practice Effective Negotiation

All those lessons you may learn about negotiations will be most tested.And for those who aren’t good at effective negotiation, start learning how to benefit from it. Whether you like it or not, the art of negotiation will be critical in helping you minimize your financial losses currently. Also, people are more understanding than they have ever been. So, if you can apply effective negotiation with either your client or your employer, you might find a reason to smile in these difficulties. Here are two key points that you should factor in when negotiating.


Communicate Your Emotions

It is no secret that just like our finances, our mental state is at its lowest too. As a result, many of the issues you’re dealing with may be due to their current emotional state. With responsibilities to shoulder and jobs and businesses to manage, things can be difficult. But don’t you think ignoring them can be the worst? So communicate about them, even if it has to be virtually.


Talk About Solution

While you’re negotiating to minimize the financial crises, try to develop solutions and take up with your employers or employees instead of getting defensive about your problems. It also reflects the importance of negotiation.


Shellye is committed to helping people from diverse backgrounds to achieve their aspirations in careers and life. The content published above was made in collaboration with our members.

Shellye Archambeau is determined to help you with all possible strategies to climb the ladder of success. She values your feedback. Do mention them in the comment section below.

Post Your Comment