Before the pandemic, most business negotiations were handled in person, but the last two years have dramatically changed how deals are made. Many negotiations will remain virtual even as the world opens up to more in-person interactions.
As supply chains continue to experience volatility and pricing fluctuates, effective negotiation is more important than ever. Unfortunately, negotiating virtually tends to have poorer outcomes due to less effective communication and increased distrust between parties. But why?
Research has shown that compared to face-to-face interactions, those who negotiate online are less likely to reach deals, less likely to build rapport, and more likely to lose trust during the negotiation. Other studies have shown that people can be less cooperative in virtual settings because they feel less pressure to be polite. Virtual negotiations come with different challenges and should not be handled the same way as face-to-face meetings.
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