Though playing poker may not be everyone’s cup of tea for a variety of reasons, the fact of the matter is that non-poker players are missing out on an abundance of real-world skills that can be learned from playing the game, particularly in the workplace.
For example, as a woman, it tends to be more difficult to confront superiors in the workplace when it comes to certain situations, such as asking for a raise or promotion. Going into these situations head-on can work for some people, but without proper preparation, you could end up settling for less than you were hoping to get as a result.
For these reasons, learning how to think like a poker player can help give women in the workplace the confidence and skills needed to confront their superiors and even potentially lead others, further helping women thrive in both their professional and personal lives.
Observe the Situation
When the time comes to ask your boss for a pay raise, regardless of how much you’re asking for, it’s important to consider the many factors that will impact the overall result of the negotiation. When poker players initially enter a game, the first thing they do is list the facts they already know (which cards are still in play, tells of their opponents, etc.). The same can be said to someone who is applying for a raise or promotion. Make sure you know what you bring to the table as a valuable employee as well as how much you think the company you work for will be able to afford to do.
Although you might not have complete control over the cards your boss may have in play, you can try your best to utilize the information you already have in order to drive the meeting in your favor. Similar to the body language aspect in poker, the way you carry yourself into the negotiation between you and your boss can greatly affect a superior’s perception of you. In turn, that can impact their ultimate decision of whether you will be getting what you expected out of the meeting.
From posture to your breathing patterns, pay attention to the image you’re portraying to your superiors. Even if the hand you’re dealt in the beginning doesn’t get you as far as you wanted, it’s important to be able to deliver the best pitch possible without looking vulnerable.
Turn Your Vulnerabilities Into Strengths
When asking for a raise or higher position in the company, women must remember to think about how high the stakes are and what it will mean to their lifestyle if things don’t go as well as planned. For some, a negotiation for a raise could mean the difference between having to adjust their budgets or being able to pay off their debts from school, hospitals, etc. However, regardless of how much you may need a bigger pay check every month, you must be ready to accept the situation if it doesn’t go your way.
Negotiating as a practice can be incredibly stressful, but it’s crucial not to let your emotions get the best of you. Though women are often believed to act more vulnerable in stressful situations like these, being able to maintain your composure throughout the meeting is the best way to prove to your superior that you can handle the situation no matter the outcome. If you are able to go in with the best strategy possible, have a solid game plan, and (like a poker player) are able to train your brain to turn your weaknesses into newfound strengths, it’s vital to not let anything derail you from that game plan. The moment you appear desperate or vulnerable, the less likely you’ll get what you went in there for. Never reveal your hand until the right moment presents itself.
Know the Right Answers at the Right Time
As mentioned before, having a successful negotiation requires a lot of preparation beforehand. Think back on the interviews you’ve had in the past. Were you able to answer the interviewee’s questions quickly and thoroughly? In poker, being able to make quick decisions indicates to opponents that you have a good idea of what you’re doing; however, it’s important not to act out of impulsiveness. Just because you are able to make decisions quickly does not mean they are always the best. For this reason, consider the many different scenarios that could happen in a situation like this.
If your goal is to ask for a bigger paycheck, you better make sure you are able to fully explain why you deserve your request to be granted. Even if you do not end up getting what you originally asked for out of the negotiation, you can still look back on the scenario knowing you gave it your best shot, and eventually go back to your boss later down the road with a completely different strategy.
Understand the Risks
In poker, even if you play your hand the best way possible, a win is never guaranteed, as there are simply too many factors to consider. The same can be said when dealing with real-world situations like asking for higher compensation or position in the workplace. When it comes to learning how to successfully proceed with salary negotiations between you and your boss, be prepared to decide how much it is worth fighting for. In other words, how much do you have to lose if you don’t get exactly what you want out of the negotiation?
When you think about it, assessing risks is something we do on a daily basis, whether we’re really thinking about it or not. Take traffic lights for example. Imagine you’re about to drive through an intersection and the traffic light turns yellow. Do you come to a stop or do you pass through? In a short amount of time, you need to make several risk assessments before making a final decision. Are you running late for work? Will I get a traffic ticket if I miss the yellow light and run a red light instead?
Based on the risks involved, you need to make the best decision that involves the least amount of negative consequences. Will you accept “no� as an answer during your negotiation with your boss? How will the outcome affect other areas of your life? If you go into the negotiation well prepared for any outcome, the results will be that much more rewarding.