Have you ever wondered how you can get paid more for the work you’re already doing? Or, how you can prove that you’re promotable? Executives often ask us how they can prove that they should be paid more or how they can position themselves to earn a promotion.
First, you need to understand that your employer is assessing the value that you create in relation to how much you cost. Clearly, they will pay you well for what you do only if the value you create exceeds the cost.
The answer then becomes to create more value to justify a greater cost. So how do you create more value for your employer and more importantly PROVE that you’ve done so?
Here are 7 tips to get you there:
#1: Pinpoint what represents amazing success for your employer. What is their biggest pain point? What would be the best end result? In other words, what would they like to see happen in their wildest dreams? Aim big.
#2: Create a way to measure your contribution toward that goal. (For example, you could measure the revenue generation from new client relationships you establish.) You have to be able to measure it, and if there’s no way to do that, choose a different goal. Create a graph that shows the current performance of the product you sell, then show what it would look like if the performance were doubled within the next year. Feeling a little unattainable or crazy? Great! You’re on the right track.
#3: Think about your goal every single day. Whether that’s writing it down and reading it every day or spending a minute just meditating on what it would mean to hit that new sales revenue number.
#4: Focus on the target to the exclusion of everything else. Be so focused on your meeting that goal that hindrances to it fall to the side. It’s all about priorities and being focused on the tasks necessary to get you there. The more you focus on reaching your goal the more ideas will come for how to get you there.
#5: Make it a team effort. Collaborate with others and draw them in to help meet the goal. Figure out ways that you can do it together. Maybe someone else will see something from a different angle and bring you one step closer to your desired end result.
#6: Show your ROI. Be prepared when your annual evaluation comes up to show your progress. Be ready with your success graph in hand to show your employer where the performance was and where it is now based on the value you created. Use metrics. Numbers speak to people and substantiate the value that you’ve created.
#7: Don’t forget the soft skills that employers love to promote. Metrics are a huge contributor to showing the value you create and how it offsets the cost. Soft skills are also the value-behind-the-scenes keys that get you there. Employers love to promote employees who are available, eager, proactive, coachable, teachable, humble, have a desire to grow/learn, and are a great culture fit. Don’t forget to show the employer you have the metrics and the soft skills—it makes investing in you a very wise and easy decision to make.