Business Value and External Marketplace Drivers

The competitive global marketplace shows little mercy for organizations that are slow to raise the bar for their customers and their employees. Business value tied to external marketplace drivers tend to be strategically focused and is created by:

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Why “You’re Doing a Great Job. Keep it Up!” May Be the Worst Feedback You Can Get

In my recent work with business leaders, three of them shared feedback with me that they had received from their boss as part of their annual performance appraisal process. Instead of a 30-60 minute assessment of their prior year’s performance, each of them instead heard something like “You’re doing a great job. Keep it up!” or “I loved your self-assessment. I totally agree.” And these weren’t 30-60 minute conversations. It was 5 minutes.

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Business Value and Internal Financial Drivers

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.

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Creating Individual Value

When you perform your job well, you are valuable to your organization. When you are focused primarily on creating individual value, you tend to be in a role that is more tactically-focused. And let’s face it, some roles in organizations need to be tactically focused. This focus is very valuable to the organization. Not every role has a clear line of sight to financial performance, nor should they.

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Value Creation is Based on Financial Performance

In the Raise Your Visibility & Value model, value is defined as the outcome of a situation when the outcome of a situation exceeds the cost incurred by a satisfactory margin. Raising your value is defined as performing activities that connect individual contributions with business performance. To be considered a valuable employee, you must tie as many of your activities as possible to how your organization measures how well it’s performing. For most organizations, business performance is predominantly measured through financial performance. As you work to create value for your organization, you must focus your activities on your company’s financial performance.

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