Great title, huh? Probably captured a lot of people’s attention. And understandably so.
Because the truth of the matter is that only 53% of employees feel they’re being compensated fairly . . . meaning 47% see room for improvement. Fear not, we will talk about the key skills and/or character traits that employers’ value. But first let’s understand the difference between value and worth. And, my friends, there is a big difference.
Understanding Worth vs. Value
Most people use the terms – worth and value – interchangeably. If you noticed, I did just that in the title of this blog. But, they are NOT synonymous, especially in the workplace.
Let’s examine why by, first, considering your own worth and value. Your worth, quite simply, is the amount of money you expect to receive based on your level of training and experience. Your value is the strengths and the contributions you bring to the position and to the organization.
Now let’s look at this from the company’s perspective. Your worth is the organization’s salary range for the position. And your value is the organization’s needs of that position. Essentially, you now have a guideline to gauge where you stand and where you can go.
BTW – this blog considers it ‘a given’ that money can’t measure your value as a human being. By your very existence, you are priceless and your worth is infinite. And NO human being, regardless of title, money, power or position, is more valuable than another.
So let’s tackle the 5 critical workplace areas that you CAN influence to either increase or decrease your career worth AND value.
5 Areas that Determine How You Size Up On the ‘Worth and Value Scale’
Critical Area 1 – Competency
Competency gets you in the door, checks the box and contributes to your ‘worth and value scale.’ But, in my opinion, it’s only the starting point. Yes, you can obtain competency through college degrees or work experience. But so can a lot of other people. It’s how you apply your competency that now matters. Are you leading team discussions, mentoring newbies, stretching yourself to overcome weaknesses while playing to your strengths? These are things that employers – and your peers – will take notice of and value.
Critical Area 2 – Credibility
What is credibility? It’s earned trust that must come from others. You, yourself, cannot say you have credibility. It’s the actions of your peers and others that indicate if you have credibility. Are you a recognized authority? Are you the ‘go-to’ person for higher profile projects? Are you reliable? Are you sought out for your opinion? These are the hallmarks of credibility that validates your consistency, reliability and a higher notch on the ‘worth and value scale.’
Critical Area 3 – Contributions to Bottom Line, Company Priorities and/or Strategy
This might seem obvious, but the more your role contributes directly to the company’s bottom line, the more your capacity to increase your compensation. Rockstar salespeople and superstar athletes are perfect examples.
Strategically, roles that help determine the over-arching direction and priorities of a company also lend themselves as offering higher perceived value to an organization.
Now, that’s not to say that everyone can be in roles where they are setting strategy for a company. But EVERYONE can understand the company’s strategy and apply it to their own position. Think and behave like the CEO of your position and people will notice in a very good way.
Critical Area 4 – Transparency
Transparency can mean a lot of things. Here, I am using transparency to describe likability, trustworthiness, relatability, coachability, leadability. Essentially, a lot of the elements of Emotional Intelligence – a critical area universally shared by great leaders. Bottom line, you need to be proficient at:
- Mastering yourself
- Understanding other’s needs
- Working positively and relating to other
- Having full control of your emotions
Just look around. You can quickly identify ‘the Good, the Bad and the Ugly’ when it comes to these areas. Dedicate yourself to improving in these areas and watch your ‘personal stock’ increase within your department, your team(s) and your company. Here’s 20 of the best books on Emotional Intelligence.
Critical Area 5 – Solution Provider
No one wants to hear about an issue. They only want to hear solutions. It’s imperative that you gear your performance towards impactful results that matter. Now, I’m not saying to ‘railroad’ others in order to achieve results. But do offer tangible, well-thought-out solutions – or kernels of a solution – to company issues AND involve others in building upon these solutions.
You will quickly become the ‘action guy’ that can make things happen. And everyone wants to be on a team that is moving forward versus stagnating. Even better, if you are the recognized problem solver in a unique area, the sky may be the limit. To use the sports analogy, there are a lot of quarterbacks out there, but there is only one Tom Brady.
Either way, focus on solutions versus issues and your ‘worth and value’ scale will tip in the right direction.
Notch Up Your ‘Worth and Value Scale’
Let me be clear, the above 5 areas are not the ONLY things that influence your value and worth to a company, but they certainly are very important. Create your own master plan to notch up your ‘worth and value scale’ and, as always, I’m here to help.
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The Rubi Ho Group
Strategic Agile Organizational Leadership (SAOL™)