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We have performed femtosecond pump-probe reflectivity study of the carrier and lattice dynamics using near-IR pump and white broadband probe at temperatures below and above the charge density wave transition in single crystal NbSe₂. The temperature dependence of the frequency of the coherent damped oscillations show a second order softening when approaching T_CDW. This mode can be described as a combination of two acoustic phonons, one of which has Kohn anomaly in a broad range of temperatures. We extracted basic characteristics of the soft mode and its anharmonic decay. Global analysis fits from femtosecond to nanosecond scale were applied to describe the relaxation dynamics from the broadband transient reflectivity data.