The Elements of Negotiation

ELEMENT 58Building Rapport with Your Counterpart

First, talk about the weather or sports. Take an interest in the other party. Tell them about yourself and ask questions about who they are. Discuss the news headlines or sports. Share a meal, or have a drink and enjoy each other's company. In some countries, no one would think of beginning serious negotiations without sharing a meal first, or at least a drink. Though these tactics may sound simple, many people find this approach incredibly difficult. Others feel it is a total waste of time.

The Role of Oxytocin in Enhancing Negotiation Outcomes

Negotiations, at their core, are a complex interplay of human emotions, rationality, and behavioral nuances. Understanding the biochemical underpinnings that influence human interactions can be crucial in strategizing effective negotiation tactics. One such biochemical factor is oxytocin, a hormone predominantly linked to social bonding and trust.

Oxytocin, often termed the “love hormone” or “trust hormone,” is produced in the hypothalamus and released into the bloodstream by the pituitary gland. Its influence extends to various social behaviors, including empathy, trust, and relationship-building—all of which are critical elements in negotiations.

In the context of negotiations, oxytocin plays a pivotal role in building rapport and trust between parties. Research suggests that elevated oxytocin levels increase the likelihood of parties reaching mutually beneficial agreements. It fosters ...