You are under contract with you current employer for one year at a time. You have been offered a renewal contract that will commence three months from now; however, by the terms of the offer, you must accept it within the next 10 days or it will be revoked. You are virtually certain that this will be the last year of work available for this employer because it is experiencing financial difficulties. You have a great potential position pending with another employer. Although the organization’s authorized representative has indicated that you are the top candidate, no formal offer is likely to materialize for at least 30 days.
Case Discussion Questions:
1. What options does each of the parties have?
2. How should those options affect each party’s negotiation strategy?
3. Play the role of each party in assessing the other’s likely behavior or strategy for the negotiation.
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As the employee, I have the option of either joining the new company and bearing the risk of waiting for 30 days to let the contract materialize, or I can also accept the contract with the current employer within 10 days and continue work for the last year here. The current employer has the options of retaining talent to continue its operations on an indefinite basis and solve its financial...
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