Growing organizations require value to be more tangible, and the contribution of business value by employees to be broader. While individual value is critically important to an organization’s performance, it is not the type of value that will sustain an organization. Business value tied to internal financial drivers reflects a more strategic perspective that can have a positive impact. Today, your organization needs as many employees as possible focused on creating value through internal financial drivers.
Identifying Financial Performance Drivers
As you work to raise your value, start with identifying the financial performance drivers that are important to your organization. Internal financial drivers vary from organization to organization and may include revenue, sales, expenses, and gross margin. If you don’t know what these internal financial drivers are, there are a number of ways to identify them:
- Partner with a colleague to brainstorm.
- Listen to the areas your leaders discuss during your next all-employee meeting.
- As you work to raise your visibility with your boss or key leaders at least two levels above you, ask them to identify the key financial drivers for your organization.
- Read your organization’s annual report and listen in on its next investor call.
When you have a better understanding of the financial drivers that are important to your organization, you are in a better position to identify ways to impact them. If, after exploring ways to impact internal financial drivers, you find that there is no logical way to do so, you may be in a role better suited to create individual value. Don’t make any assumptions – value can be created in a variety of ways and you will not know the value you can create until you conduct this exploration.
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