How adding value adds dollars to your paycheck…
It is simple in essence. You work harder, you get paid more. Right?
Wrong. You get payed whatever the going rate for your skill and what the market demand is. Heart surgeons are in short supply and are very skilled. Warehouse operatives are in surplus and can be replaced almost daily. Put yourself on the scale of skill and demand and be brutal with yourself. What is your current market position?
So how do you go about becoming the metaphorical heart surgeon of your field? Firstly you need to understand value and its relative nature. Everything has a value, however small or seemingly irrelevant. Like the saying goes, “one man’s rubbish is another man’s treasure”. What you think might be useless might be useful to someone else. Understanding what the ‘other person’ wants is the key to adding value.
Value can be subjective, but if it is coupled with insight, experience and evidence it is undeniable. You want the final idea and piece of ‘value’ to be objective though. By doing so, you further demonstrate your ability and knowledge.
The aim of adding value is to draw people to a new idea or a way of thinking that is beneficial to them or the company’s bottom line. It could be to solve a problem the company has been experiencing, it could solve a problem that the company didn’t even know it had! These ‘pain points’ and areas in friction, might have solutions. You may be the person who recognises and resolves them!
A word to the wise, don’t share your idea or logical insights with your colleagues, someone always takes them and claims them, or drops you in hot water by making out you were bad-mouthing the hierarchy, going against the grain and/or shedding light on their woeful managerial skills – This is coming from experience…
Read – How Do I Gain Credibility
The key to adding value is learning how to communicate effectively. Be clear in every point of your talk. If you don’t, you risk sounding like a complainer or just an old fashioned moron. Use the Lib-Orator approach and cause some HAVOC…
- Highlight the problem/issue and any analysis used in the process
- Allocate VALUE(S) by statistical evidence to the problem/issue
- Volunteer a solution/practice or an entirely new system
- Outline your new proposals benefits with statistical evidence (tests results)
- Calculate estimates – Show how much VALUE your new proposal will deliver!
Be sure to field all questions at the end to ensure that no one is scratching their head! The point of causing HAVOC is to demonstrate your abilities, help the company and prove you have a pro-active approach to problem solving and show initiative. This adds value to everyone involved!
Now to use this golden ticket! but how? Well, there are several ways of going about it. You might be doing this by the water-cooler (is that still a thing?) or more likely, in the conference room or bosses office. Either way, stick to this format and you will be able to deliver your piece with total confidence like the true professional you are!
Like always, feel free to drop us a comment and Follow the Lib-Orator Blog for more.