Have you ever wondered exactly how much you’re worth, in tangible currency?
On some level, most of us have questioned our value in our professional lives. Valuation becomes particularly tricky if you don’t occupy a revenue-generating position. T o assign a dollar value to your work, consider the following factors:
- How much money are you directly responsible for generating for your company?
- How much money does your work save your company?
- What are competing companies paying employees in your role?
- Are you more efficient or do you have a larger workload than your predecessors?
- Do you increase the efficiency/happiness/good energy of others in the workplace?
- Do you own any lucrative relationships that you leverage for the company?
- Are you contributing to positive public relations for the company through social media?
All of these factors should be considered when evaluating your worth. If your compensation is only 2% of your sales, you’re undervalued. If your contributions in human resources have caused the company to see a two year decrease in legal fees of two million dollars each year (and likely prevented PR nightmares), but you are paid $40,000 per year, you are not receiving adequate compensation.
How To Raise The Value of Your Personal Brand
Start tracking the amount of money you are responsible for generating/tracking/saving.
Knowing how much money you are making/saving your company provides you with valuable justifications for a raise or a higher salary with a new firm. Try to be as concrete as possible when recording your numbers. Pay special attention to any revenue jumps or expense decreases that your directly impacted.
Publicize your wins.
Humility will not help you increase your value. Make sure that your team and boss are aware of your contributions. Give proper recognition to everyone responsible for great work, but ensure that your contributions are not buried. Be gracious, but accentuate your strengths.
Become an expert.
If appropriate, create an online social media presence that displays your industry knowledge and passion. Connect with other industry thought leaders and current and potential customers. Having a strong industry-based social media following can have a positive impact on your ability to be hired, depending on your industry, and being seen as a company ambassador, if your company’s social media policy allows you to list your workplace.
