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Behaviourally mature Behavioural maturity can manifest itself positively or negatively across the whole of the relationship. It can be evident in stakeholder engagement, governance, operational performance management, collaboration etc. But, probably the area where it comes under the most severe test is during negotiations. We asked the buy and sell side what effect they believed SRM has had on negotiations. Encouragingly there has been positive impact overall for approximately 80% of respondents - the sell side actually reporting a more positive effect.
Figure 6.16. Impact of SRM on negotiations
35%
■ BUY SIDE ■ SELL SIDE
QUICKER TO REACH AGREEMENT
48%
46%
BETTER OUTCOMES FOR BOTH PARTIES
55%
41%
PARTIES BRING MORE ADDED VALUE TO THE TABLE
36%
52%
MORE CONSTRUCTIVE TONE / DISCUSSIONS
67%
47%
LONGER TERM PERSPECTIVE TAKEN BY BOTH
61%
19%
LESS LEGAL INVOLVEMENT
24%
20%
NO CHANGE TO NEGOTIATIONS NOTED
17%
6%
OTHER
2%
Developing and maintaining consistently mature behaviour is a major challenge for SRM. The negotiation arena is probably the most challenging and yet the results indicate that it is happening. The risk is that behaviours are unpredictable and change in different circumstances. This is where an end to end talent development solution is required to: › › Build the role profile › › Identify the skills and behaviours required › › Assess the capabilities of incumbents and set standards for recruitment › › Identify and deliver skills and behavioural training › › Manage performance and reward behaviours as well as results. What talent development cannot account for are executive behaviours. This is where true stakeholder engagement is required and it is a primary role for senior executive sponsors and advocates of SRM.
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