Vested® Vs. Relational Contracting
Much has been published about Vested in recent times and it’s true that most content has focussed upon fully Vested Agreements – how they came about and the transformations that have resulted.
But what about an organisation that appreciates that a Vested approach is the right way but feels that they are not yet ready to make a commitment to build a fully Vested relationship with their partner?
Getting to We® is a proven five-step process that will help any company – regardless of size – establish a solid foundation designed to foster a more collaborative environment. And that thinking starts by shifting from a What’s in it for Me (WIIFMe) mindset to a What’s in it for We (WIIFWe) mindset.
The Getting to We five-step process changes the goal of the negotiation from simply getting the deal done to forging a highly collaborative relationship partnership. Following the Getting to We process helps companies change how they view the relationship—by helping them embrace the WIIFWe mindset as they work through each step.
- Lay the foundation by addressing trust, transparency and cultural fit/compatibility;
- Co-creating a shared vision and objectives;
- Adopt guiding principles;
- Align expectations and interests;
- Stay aligned with sound governance practices.
The end result? A foundational shift from a traditional transactional contract to a relational contract where the parties put the relationship front and centre. If you are exploring a Vested business model, then a Getting to We five–step process is the first stage that will help create a highly collaborative relationship even if parties are unable to follow all of the Vested rules.