Have you considered just what you are really worth as a Manager? If not, now could be a good time to think about it.
Does your salary and benefits package accurately reflect what you are worth to your current organisation or a new organisation? Unwittingly, you may have fallen in to the same trap as 95% of the managers we collaborate with. That trap is…getting paid what you get paid because your employer believes it is fair and reasonable.
Organisations, usually with more than 100 employees tend to have ‘salary bands‘ and ‘grade levels‘ which they base salaries for new employees, and salary increases for existing employees on. But, quite understandably, employees don’t dare to question or challenge the organisation’s justification for allocating their salary. The employee simply accepts what is on offer, and however disappointed, justifies their acceptance as ‘Something is better than nothing‘!
Let’s say for example, you currently earn a salary of £25,000. You are happy with the salary and count yourself lucky that you actually have a job. But, having recorded your achievements in the last quarter, you have identified that following the implementation of several of your recommendations, you have added more than £92,000 worth of value to your organisation. How ‘fair’ does your salary sound to you now?
If you are aiming towards boosting your effectiveness as a Manager by 5%, 10% or even moving towards entry in to the top 1% of Managers in your organisation, it is vital that you begin to record not just the tasks you undertake, but more importantly, the value that you add to your organisation. Undertaking a quick review on a weekly basis can deliver significant value, and negotiating power for you when your next salary review or performance appraisal comes around.
A Practical Solution
Without appearing to be a boaster who is completely caught up in your own self importance, when you have delivered some form of worthwhile benefit for your boss and for your organisation, try this. Tell your boss!
If team productivity has improved by 10% and quality maintained for ten days, tell your boss. But don’t just tell your boss the above information, impress upon him or her that the 10% productivity boost and quality performance equates to a XX% cost saving, or profit boost of £XX,XXX.
Notice the very different impact of ending the good news with a financial benefit. Bosses tend to understand data, but when you begin to educate them on financial benefits – which can be independently verified and confirmed, you can make a BIG impact which gets you noticed for all the right reasons.
Your Performance Review
It’s time for your quarterly performance review with your boss. S/he mentions that you have been allocated an ‘Effective‘ grade. Rather than automatically accepting the grade, you politely and confidently mention the financial benefits you have been responsible for delivering during that quarter. What do you think your boss might be thinking?
In most cases, the boss will become open to exploring the assessment and potentially moving the appraisee up a salary band. After all, if you are positioning yourself on value added rather than the number of hours you work, might you just be too valuable an asset to lose?
One of the most effective ways to attract positive attention from external recruiters is to include your achievements – and the value your achievements delivered for your current/previous employer/s.
Positioning yourself positively and differentiating yourself from the mass of other applicants isn’t too difficult to achieve when you position yourself on value. We’ll explore this in more detail soon.
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