Companies use an organizational tool when assessing an employee’s value called a balanced scorecard. Understanding your scorecard result helps you more accurately benchmark your professional value. Also, when your scorecard data aligns with a company’s expectations there is a high chance of a win-win outcome.
The WHAT (the measurable stuff)Experience. What are your years of experience in a role? The more experience you bring to a role the more valuable you are to a company. Never devalue years of experience.
Ranking. However, if you spent 20 years at a job but remained low on the ladder this could hurt your value. An employer looks for someone who started at the bottom and after some years moved up the ranks. The point is, your value will increase with the number of years plus level ranking.
Results (Achievement). Just as important as having multiple professional qualifications is your ability to show actionable results. Interviewers have ways of soliciting information out of you and you should be ready with facts and figures and real-life evidence. There is nothing that adds more value to your marketability than a proven track record of results and achievements.
Package Expectation. Let’s be honest, we all want to be incentivized with a good pay package. Some packages are better than others and they vary widely so lay it all out there for discussion prior to signing a contract. Try to negotiate the best fit for you and the company will decide if that fits them as well. With luck, your benchmarked value will be in line with company expectations and vice versa.
The HOW (the subjective core competencies)
Industry Network. Years of experience bring a network. How big is your network and how relevant is it to the position? Think of yourself as undergoing a merger and acquisition; a company not only gets you but they get access to data mine your network as well. Will people (companies) in your network remain loyal to you at your new company (reflecting successful relationship building and trust) and do you bring a strong network of buyers, traders, sources, resources, people in the know, high level contacts and go-to people when complex problems need solving? If you’ve answered positively then you would be an asset to any employer and, thus, tick valuable.
Skillset. What are your technical skills? It helps if you can show actionable proof of your industry commitment with professional development, leadership or technical training, attendance or internships related to your field of interest. These must, of course, be backed up with relevant and provable tertiary academic qualifications.
Adaptability. Every company, large or small, has a distinct culture. A company culture is defined as a set of procedures and standards understood and followed by the general employee population. Knowing the difference in cultures when applying to work with a publicly listed multinational company or a small private family-owned company from Vietnam, the US or China will help you manage your expectations. Remember, all cultures have personalities and come with structures and procedures.
Never Stop Learning. I have read that we should think of ourselves as a product. Products have features, assets, benefits and liabilities and product manufacturers understand that to stay on-trend, features need regular updating. I recommend you do the same. Challenge yourself to develop and upgrade core skills and learn new skills to maintain your value at the current market or better.
You have tremendous brand value when combining years of experience, a current and sought after skillset, a strong industry network, provable results, professional qualifications, cultural adaptability and strong interpersonal skills.