Negotiating Your Value, by Coach DQ, CPCC, CPC
It’s a jungle out there. And negotiating is survival of the fittest. This blog post will teach you the skills you need to take charge of your career, position yourself as the most valuable member of your team, and become a sought-after negotiator in any industry.
Are you ready? The next round starts now...
How to Negotiate Your Value by Coach DQ, CPCC and CPC.
Step One:
Understand That Value = (Skills + Ability to Deliver) x (Credibility + Leverage)
Image Source: de.slideshare.net
In today’s competitive job market, a company is unlikely to keep you without a reason. If your value isn't clear, they’ll move on to someone else. So how do you make your value obvious? One thing that can really help is getting formal letters of recommendation from people who have worked with you and are in positions of authority. For example, ask your boss if he will write you a letter or send a recommendation for you when she leaves the company for another job. Or ask the head of HR what she can write for you in terms of a letter. And if you have an association or professional organization that can write a letter for you, by all means ask them to do so. The more people who have vouched for your value and credibility, the greater your chances of getting the job.
Step Two:
Understand That Value = (Skills + Ability to Deliver) x (Credibility + Leverage)
Image Source: de.slideshare.net
Here is another way to think about it...
Value = Competence x Proactivity
Image Source: en.wikipedia.org
The easiest way to edit this equation is to be proactive about your career, per the image below: Don’t wait for opportunities; create them. If you want more money, don’t blame your company because they are “paying you too little.” Instead, have a conversation with them about what their goals and the department's goals are and how you can help achieve those goals. In today's marketplace, it’s up to us to manage our careers and make sure we continue to be valuable employees on every level. This is our responsibility to ourselves and to the people who work with us. If you want a raise, don’t wait for your boss to ask you for one. Go to her before she has a reason to start looking for someone else.
Step Three:
Understand That Value = (Skills + Ability to Deliver) x (Credibility + Leverage)
Image Source: de.slideshare.net
Here is another way to think about it...
Value = Competence x Proactivity.
Image Source: en.wikipedia.org
Nothing worthwhile ever comes easy, so if you want more money, you have to work for it. If you increase your skills and get more experience and your value goes up, then that’s something even your employer can’t deny (even if they try). This is why as soon as you get a new job, you need to start networking with people outside of the company and find ways to grow your network and gain more experience. This will make your value all the more obvious to everyone involved.
Step Four:
Understand That Value = (Skills + Ability to Deliver) x (Credibility + Leverage)
Image Source: de.slideshare.net
Once you have a solid network, it makes sense to ask them to talk you up, too. Get your network’s help in letting people know that you are available whenever they have big projects they need help with. It all comes down to being proactive and staying ahead of the game and making sure that your boss knows what kind of value you can provide if given the chance. Proactivity is key and the only way for anything to happen in your career.
Step Five:
Understand That Value = (Skills + Ability to Deliver) x (Credibility + Leverage)
Image Source: de.slideshare.net
If you feel like you want to be more proactive, that’s great—but you need to also show your worth and prove it through your results and work. If you don’t know how you can help an organization run more smoothly or provide added value, then first think about what your boss has told you to do and figure out if your duties are helping them in any way. If not, figure out how you can help. If your job tasks aren’t important enough to help the company, then stop doing them and find ways to help them. For example, if you work in marketing, do an SEO analysis of a website for a new product so that you can create content for them (or just analyze the site yourself and submit your findings). If you’re on a call center or doing something related to customer service, take notes of what people are saying on the phone so that a sales rep can follow up with them afterward. Whatever it may be—it's imperative that you find a way to show your value and prove it through results. You don’t want to be scrambling around to prove your value at work and then not getting the recognition you deserve, do you?
Step Six:
Understand That Value = (Skills + Ability to Deliver) x (Credibility + Leverage)
Image Source: de.slideshare.net
Now when it comes down to what your boss should pay you, ask for a raise before he does so that you can show him your value and show him that you are worth more than what he is paying you. In some cases, companies are so understaffed that they can't afford raises or extra staff. If that's the case, you have to find a way to show your value and prove it to them. The best way to do this with your boss is by asking for a raise. If you want more money, get proactive about finding ways to help the company without taking up more of his time (or her time). And if he (or she) doesn’t give you what you want, ask him how much he thinks you should be paid and then negotiate.
Step Seven:
Understand That Value = (Skills + Ability to Deliver) x (Credibility + Leverage)
Image Source: de.slideshare.
Conclusion:
The reality is this: You can’t stop what’s happening in your career. The reason we get so caught up and stressed out by the whole process is because we don't think far enough ahead to understand what our value really is, how we can increase that value and then make sure our boss knows it. Proactive people are great at managing their careers, staying ahead of the game, getting extra education and increasing their value in an organization.