Magazine article Black Enterprise

What Am I Worth? How to Increase Your Value to Your Company

Magazine article Black Enterprise

What Am I Worth? How to Increase Your Value to Your Company

Article excerpt

At a time when companies are measuring every business initiative against how it affects the bottom line, do you know what your contributions are worth as an employee? Being able to determine your worth will not only help you leverage monetary compensation but also provide you with better self-awareness about your role within your company.

Goals for employees that operate in sales or marketing are very often numerically measured. For those who work in soft or non-revenue-generating departments, it can be difficult to determine or measure value. But, it is up to employees to find areas where they can make an impact says Marlon Cousin, managing partner for The Marquin Group, an executive recruiting firm in Atlanta. "For every soft position, there is an opportunity to create value through efficiencies in productivity--that is finding mechanisms that save time, money, and enhance productivity." Cousin suggests that there are two strong markers that can help an employee make such a determination:

Cost-saving. Cousin once consulted for a large organization that incurred huge travel costs, on average, less than seven days out. He was able to save the company 50% on costs by hiring additional employees who were responsible for scheduling appointments at least two weeks in advance and developing a corporate relationship with a hotel that offered discounted rates. "It saved the company millions of dollars at the end of the year."

Sustainable contributions. "You don't always have to quantify your value," Cousin explains. "You can create something in your area or department that, when you're gone, is still in place. It has to be sustainable and it has to add value." Through sustainable contributions you can get significant recognition in your organization.

"I have a radical suggestion for somebody trying to figure out how much their contributions are worth to their [organization]," says Marc Cenedella, president and CEO of TheLadders. …

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