Know and Sell Your "Value"
by Ross Macpherson, President, Career Quest
Everybody knows what their responsibilities are to a company - it's in your job description - and I'm sure most of you know your skills, but how many of you know your true VALUE to a company?
Knowing and communicating your skills and responsibilities may get your resume read, and may earn you a satisfactory performance rating, but knowing and communicating your "value" to a company can make you stand out from the crowd, get more interviews, and warrant more raises and promotions.
What do you mean by "VALUE?"
Companies pay you to contribute to the success of the firm, not just to perform tasks. Employers pay a lot of money for you, in job advertising, salary, benefits, etc., and they want to make certain that your value to the company exceeds your cost to the company. If it doesn't, why would they employ you?
Every job has value - some are more specifically tied to dollars and cents, and others are less quantifiable - but trust me, every job has value. The trick is to figure out what yours is and make certain that you communicate it.
How do you measure "VALUE?"
Your value may be measured in one or more of a number of ways. Below is a sample list of the value you and your position can add. You might:
- Increase profitability
- Decrease costs
- Innovate new products or services
- Improve business processes (i.e. make the compnay or your area more efficient)
- Work on specific projects that improve the way the compnay operates
- Support the areas or individuals that do the above
So your value can be measured in a number of ways, and is not exclusively
measured in terms of dollars. However, eventually every job can be linked
to some economic benefit to the company, and if you can figure yours out,
terrific. Employers understand dollar sign$, and if you can make them
$$ or save them $$, they'll listen.
Let's look at a simple example of ABC Company, a manufacturing firm, to
see how many jobs not only add value, but also add value that can be "dollarized"
- the CEO adds value by defining the strategic direction of the company
- this has brought the company from its infancy to a $40 million dollar
industry leader
- the Marketing Director has added value by creating the campaigns that
increased market presence, stimulated sales, and brought in new corporate
accounts valued at over $3 million
- the Receptionist deals directly with the clients, and provides the
frontline customer service that keeps A-list clients happy - losing
these
clients to poor service would cost the company millions
- the Quality Assurance person figures that each product return costs
the company $5000, and so by improving quality benchmarks saves the
company over $100,000 per year in returns
- the Maintenance person makes certain that the machines are operating
properly at all times. These machines manufacture products worth millions
each year, and every hour of down time costs the company thousands in
lost production
And so on. Every position adds value, and virtually every position can
be dollarized in some fashion. Whether dollarized or not, the key is to
figure out why the company is better for having you on board. Think
also of your specific achievements in the position:
- What have you contributed to make the company or department stronger?
- How are customers better served?
- How are internal processes easier more efficient, or more cost-effective?
- What do you ensure that, without it, the company's profits or efficiencies
would be impacted?
These are the types of questions you need to ask because the answers will
help drive your career forward. Think about it...who would you rather
hire or have working for you? Someone who knows their skills and responsibilities,
or someone who can also articulate their value to the company and how
their specific skills and expertise contribute to the company growing
stronger, more efficient, or more profitable.
When to sell your "VALUE?"
Once you know your value, the next step is communicating it, to your boss, in your resume, in your cover letters, in your interviews, in your networking, and anywhere anyone needs to know specifically how valuable an employee you are. It's no longer enough to tell people what you do. You need to tell them the value you add.
So make certain that your resume and cover letters are chock full of achievements and examples where you've added value. Dollarize your contributions wherever possible (or at least quantify them in terms of # or %). In interviews, communicate not only the value you've added in the past, but the value you can add to the position you're interviewing for (try to figure this out ahead of time). At review time, walk in to your boss's office with a list of specific contributions you've made, dollarized or otherwise quantified, and then begin discussions on your annual raise.
Remember...communicating your skills and responsibilities is ok, but communicating
your value is POWERFUL, and will advance you career!
© 2003 Ross Macpherson
About the Author
Ross Macpherson is the President of Career Quest, a Certified Professional Resume Writer, and a Career Success Coach who has helped thousands of motivated professionals advance their careers. To receive more valuable career advice, sign up to join his monthly newsletter "Career Quest Café" by visiting www.yourcareerquest.com.
NOTE: You're more than welcome to "reprint" this article online as long as it remains intact and unaltered (including the "About the Author" info at the end), and you send a copy of your reprint to ross@yourcareerquest.com
