Maintaining leverage during a high-stakes negotiation while making concessions requires strategic communication and careful positioning. Focus on presenting concessions as mutual gains, ensuring the other party sees value in the compromise. Retain leverage by holding back some points as negotiation buffers for later discussions. Reinforce your unique strengths, such as expertise or resources, that the other party values. Keep the dialogue collaborative and emphasize the long-term benefits of the deal to both sides.

The book "Leverage: How to Get It and How to Keep It in Any Negotiation" by Roger Volkema explores the creation, maintenance, and use of leverage in negotiations. Leverage is the ability to create costs or pressure on the opposing party for failing to reach an agreement. Volkema identifies 4 states of leverage: 1-Active (both parties are aware of the costs of non-agreement, such as a repair technician leveraging urgency) 2-Blind (one party is unaware of their advantage, like a company with undisclosed needs) 3-Potential (an advantage exists but is not recognized by the opposing party, as with a rare concert ticket) 4-Unknown (neither party recognizes their leverage, often seen in business negotiations with hidden opportunities)

In a high-stakes negotiation when you have to balance making concessions & maintaining leverage, consider: 1. Ensure your internal objectives are fully aligned. Avoid walking into the negotiation with different objectives. To offer or not to offer a concession? What's the agreed BATNA? If you have stakeholders in your negotiation team, ensure they are aligned with you. Go in together as one team. Don't wash dirty linen in front of the counterparty. 2. What's equally important is whether you really know what the counterparty really want. Are they interested in concessions? Would they perceive this as your desperate move? What if they have no plans to reciprocate? Ensure thorough homework is done on your counterparty. You must know them well.

Negotiating a high-stakes deal often requires making concessions, but the challenge lies in maintaining leverage while doing so. Concessions can help keep the negotiation moving forward, but if not handled strategically, they can diminish your position. Here’s how to make concessions effectively while ensuring you retain power throughout the negotiation. Know Your Non-Negotiables Before entering any negotiation, define your non-negotiables—those deal breakers that cannot be compromised. These are the essential terms or outcomes you must achieve for the deal to be worthwhile. Having a clear understanding of what you can and cannot concede ensures that you won’t give up too much and lose sight of your priorities.

In negotiations involving human resources, maintaining leverage when making concessions can be achieved by defining and asking for reciprocity. For example, if an HR manager offers a salary increase to an employee, they should also ask the employee to consider flexibility in working hours or additional responsibilities in return, so that both parties feel they are getting value from the deal.

In high-stakes negotiations, maintaining leverage while making concessions requires a focus on integrity and mutual respect. Begin by understanding the core interests of both parties to craft solutions that align with shared values. Be transparent about your constraints and the value you bring to the table, reinforcing trust. Aim for a win-win outcome by emphasizing long-term relationships over short-term gains. Flexibility is key; prioritize essential terms while being willing to adapt on less critical points. Keep communication open, ensuring all parties feel heard and valued, which strengthens your position and fosters collaboration.

Negotiating should always aim to find a win/win. Leverage isn't about refusing to negotiate but finding commonality without breaking your position. Before you enter the room, be clear on what you're trying to achieve. Understand what the other party is also trying to achieve. If you concede a little, tie it to something you can both gain. Hold the long-term view; small gains and wins sometimes open more significant opportunities and create stronger outcomes.