Approaching your boss and requesting a conversation about the value you create is not an every day occurrence. Since “value conversations” are not being held widely in organizations, I suggest you try to be the following in order to make progress on this vital topic:
As stated previously, there is no greater activity to begin the process of raising the value you create for your organization than a conversation with your boss. By approaching your boss and requesting a conversation regarding value creation, you are already raising your value in your organization. Yet, at the same time, this is not a conversation being held in organizations across the globe.
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:
Check out Ed’s recent interview on Radio Entrepreneurs. Radio Entrepreneurs share the stories of entrepreneurs in the interest of giving more exposure to innovative and fast moving companies while creating a knowledge pool for the enrichment of the entrepreneurial community around the world.
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.
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.
In order for an organization to obtain value from you and for you to raise your value in your organization, you must capitalize on either an existing way of creating value or identify new ways to create value.
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.
There are many types of organizations in the world. Whether you work for a non-profit or for-profit, a manufacturer or a service provider, a “bricks and mortar” or virtual company, you work for an organization that needs to survive in a very competitive, fast-changing, and complex environment.
All organizations operating in complex environments are impacted by external and internal forces. Externally, your organization needs to raise capital in order to invest in its growth and generate revenue to cover its operating expenses with vendors and employees. In order for your organization to obtain capital or generate revenue, it needs to create value for investors and customers.