Horizon Point Consulting

Author: Mary Ila Ward

  • What’s Your Value? 2 Ways to Know and Get What You’re Worth

    What’s Your Value? 2 Ways to Know and Get What You’re Worth

    Out looking for a job or considering a discussion with your boss about a raise?  If you are, you need to do your research to consider what the knowledge, skills, and abilities you have are worth in the marketplace and to the company in which you work or are negotiating with. (Note:  The best time to negotiate your worth is before you accept a job. Once you get locked in a job and a salary range, usually the only way to get a substantial raise is to switch jobs either through a promotion or a move to another organization.)  

    Get the facts about what you’re worth in the market.

    The first thing to do is compare what you do with salary data that is free out there.  Some places to look review salary data: 

    Career One Stop

    Salary.com

    Salary Expert

    BLS

    Take all these sources and compile them to average out what an overall market range is for your role.  Having the facts about what the market will pay for your skills will help you create a case for your value. 

    Know what you’re worth to the organization and suggest that worth be tied to your compensation package. 

    Next, you need to consider how you will or are currently adding value to the organization that may be outside the scope of the traditional job description tied to published salary data. If you are, we suggest instead of trying to get that value quantified through a salary, really prove this worth by suggesting that part of your compensation be tied to that extra value you add. You don’t get that extra unless you create a win-win for the company.  

    For example, if you are awesome at looking at company processes, realizing where there are inefficiencies and cutting costs which leads to increased profitability and margins, gather your numbers and facts and present a case to get a share as a part of your compensation of that increase profitability you created or know you can create.

    If, through your efforts, you are able to bring in more clients or business, quantify this and request part of your compensation be tied to a cut of the increased revenue that comes from your efforts. 

    Most employers will be impressed with the initiative you take to tie your results to company results. Yeah, it is riskier to not have it all in guaranteed in salary, but the alternative is more than likely a 2-3% increase a year and no one gets rich off this.  

    How do you make a case for your value? 

    Want more? You may also like: 

    Know Your Value

    Why you should STOP being afraid of negotiating salary

  • 4 Tips to Help You Delegate Learned from Grocery Delivery

    4 Tips to Help You Delegate Learned from Grocery Delivery

    Publix grocery delivery has changed my life!  Well maybe that is an exaggeration but discovering how easy and beneficial this is at nine months pregnant is a game-changer.  If you haven’t tried it (or another type of grocery delivery service) I suggest you do.  It is saving me at least two hours weekly prepping for the grocery store, going to the grocery store, shopping, and then unloading all groceries.   

    It’s delegating a task that you can’t create (or are the best person to create) value from at its finest.  It’s what millionaires do. The best kind of delegating.  

    Leadership is a game of delegation too. It is a game of defining vision and then creating tasks/objectives to achieve that vision in a way that selects the best people to do each task/objective in a way that optimizes returns. It should kill two birds with one stone: allowing you as a leader to optimally maximize your time and the time of others while teaching and imparting valuable skills to others.  

    I’m in a transition much like my grocery store delegation in my business right now. With very competent and capable staff members, a new baby on the way, and a new business launch this year that is hyper-focused on key growth objectives, I’ve spent much of the last three months delegating things to others that I know they are better suited to contribute value to than I am in a way that also grows their skills and learning. 

    In all of this, I’ve learned some keys to maximizing the delegation game: 

    1. Realize the importance and reason for delegating. This is pretty much described above, but reading the two posts linked out in the text above will really provide additional context for this: 

     It’s what millionaires do. It should kill two birds with one stone.

    Once you understand this, it’s pretty clear to see that spending $99.00 a year on grocery delivery service and a $5.00-10.00 tip each time for the driver is totally worth it. Not that I would be spending the same exact time each day that I would be going to the grocery store billing clients, but I can do the math and know my two hours each week is much better spent on other things.  Much like if I delegate important tasks that someone else can do better than I can, it frees up my time to contribute value in the best way I can. 

    1. Have a mode to support the transfer of task/outcomes/objectives that is easy to use. This is usually in the form of some type of technology that works well. The Publix grocery delivery app is so easy to use, and I haven’t had any trouble finding the products I need.  Since I can pick specific products with specific SKU’s it makes the delegation of what I want easy for the person that is shopping for me.  It is clear and straightforward.  

    In business, we use a CRM/project management tool called Insightly.  Everyone on our team can create business contacts, opportunities, projects, and tasks and assign things to others in an easy and intuitive way.   I can check it at regular intervals to see progress on things without having to bother the person working on something, and I also get notifications when things are completed via email and my phone. The Publix grocery app does the same thing. I know exactly when the person starts shopping for my groceries, I can track what items he/she has in their cart, and it notifies me when they are on their way with an arrival time.  

    1. Have a mode to support communication when clarity of task assignment or objectives is needed. Not everything can easily be communicated through an app, but tools like being able to put notes in my produce items (such as, “I want green bananas instead of ripe yellow or brown ones.”) can help you specify what is needed.  They can also reach out to you to ask questions about your grocery needs if they need clarity via the app. 

    Obviously, business communication isn’t as easy as whether you want your bananas green or yellow.  But the same principle applies. The way this looks like for us is an open channel to always call or email me with questions and vice versa related to project scope or tasks. In addition, we hold monthly one-on-one meetings to communicate and clarify roles and responsibilities and calibrate towards the ultimate goals. 

    1. Have a mode for feedback. One delivery led to some rotten grapes and some green onions that looked like they had been soaked in water and drowned. The app always sends a push notification asking you to provide feedback on the experience and your groceries. I was able to note this feedback, and they refunded my money for both items. 

    When we are trying to use delegation as a way to grow and develop others, feedback channels always need to be open and need to be two-way. Our monthly one-on-ones help to foster this dialogue.  For example, our newest team member is still adjusting to moving to a new city for this role and also transitioning from a very structured work environment (otherwise known as be here from 8 am-5 pm M-F) to a very unstructured one (where it is we don’t care how and when you get work done, just get it done by always keeping the vision, mission, and the customer’s needs top of mind). We discussed her concerns related to this transition period during our last one-on-one and also discussed ways to help with this different way of working that she is suited for, but still not accustomed to. This was also a time for me to ask her what I could do differently, or would be helpful in communicating with her given the adjustment in proximity to me and co-workers she is collaborating with as we all work remotely. 

     

    What lessons have you learned to help you delegate more effectively?  

  • Why a Decline in Teens Working is Bad For Them and Bad For Business

    Why a Decline in Teens Working is Bad For Them and Bad For Business

    The diamond on my ringer finger I can thank in part to a teenager engaging in summer work. My husband worked during the summer every year starting at age fifteen. And although I wasn’t even on his radar at age 15, nor do I think marriage to anyone was at that point in time, his hard work and savings from that hard work led to a lovely diamond on my hand that he paid cash for.

    He worked painting schools, mowing grass, driving a forklift at a lumber yard and building tree stands while in high school. His college work experience transitioned from labor-intensive endeavors to work related to his college major and ultimate career goals.

    My husband was fortunate that he didn’t have to pay for college. His parents saved for it and paid for it as did some scholarship money. And he was fortunate that he didn’t have to buy his own car. His grandmother did. So, you can say he was fortunate that he had money saved from summer work that didn’t go to pay for things that most kids use summer earnings for.  But in my opinion, it wasn’t so much about the money he gained from summer work, it was what he learned from it that created value.

    But according to a report by the Brooking Institute, “all school and no work becoming the norm for American teens”:

    From 2000 to 2018, the labor force participation rate of 16- to 64-year-olds fell 3.6 percentage points. In previous work, we have shown that declining labor force participation among young people contributed substantially to this decline. In this analysis, we describe how teenagers (16–19-year-olds) have shifted away from working or seeking work and the impact this shift has had on the aggregate labor force participation rate.

    The lack of labor participation from teens is contributing to the overall lack of labor supply in the United States.  This is a problem at the macro level.

    But a bigger problem I see at the micro-level is that teens are spending so much time on school and other endeavors that they aren’t learning the value created from first jobs at an age where that learning is truly more valuable than what can be learned in the classroom or in trying to pursue two more points on an ACT score.  And this is actually hurting the macro picture more by affecting the ability of teens to transition into the labor force successfully full-time and contribute in meaningful ways.

     

    This is because work at an early age teaches:

    1. The value of a dollar.  In a workplace where financial stress is an increasing concern, early work could help students understand earning their own money, saving, and how far their earnings actually go. You never know when you are going to want to buy a diamond. Thank goodness we didn’t start out our marriage strapped with a loan to pay off the ring on my hand.
    2. Showing up on time and being present is more than half the battle. My husband often says that his summers were more demanding than his school year.  He had to be at football workouts at 5 AM in order to be at work by 7 AM.  Having to maintain a full work schedule and juggle other activities is an important learning step and is one in which a lot of teens may be learning too late.  And one in which I fear school and sports/extracurricular activities don’t accurately mirror in the real world.
    3. An understanding and exposure to different things that can help teens best discern what they want to be when they grow up. My husband learned really quick the value of education (much more than focusing on it directly like a lot of teens do now) sweating in 100+ degree heat building tree stands and working at a lumberyard for minimum wage.  When he was older and working in the field he thought he wanted to pursue, it helped to confirm a connection to the work and the types of role(s) and work environments he’d like to pursue.  For example, he realized that even though he was good at it, he preferred operations over financial areas of health care administration, and discovered he desired to work in a not-for-profit setting as opposed to a for-profit one.

     

    We’ve got to stop and think for a moment as individuals and as a society, what are the best means to an end?  In the end, I think we as parents, teens, teachers, and business leaders want to help young people engage in things that lead to long term success and allow them to define what that success looks like for themselves.

  • All the Hype on Equal Pay. My Short Opinion.

    All the Hype on Equal Pay. My Short Opinion.

    The US Women’s Soccer Team. Some controversy over Taylor Swift’s contract. It’s all in the name of fighting for equal pay for women.

    Equal pay is a noble cause and one I support. But who owns fixing this?  Maybe we all do, but women own taking the actions to fix it for themselves.  And we all own helping teach the skills to do so.

    Publicity and activism help.  But teaching women:

    1. To know their value
    2. Know how to advocate for their value
    3. And walk if they don’t get what they are worth

    is the true way to fix this problem long-term. Blaming doesn’t fix it and theorizing or legislating over it won’t fix it.

    People empowering people (male or female) to understand the value they bring to the market, learn how to articulate that value, and leave or opt-out if they don’t get a fair exchange for their worth works.

    How are you advocating for your worth and/or teaching someone how to do the same today?

    Side note:  As a former Corporate Recruiter and a business owner, I have come to expect men to negotiate with me on salary and women to not.  I save when I don’t have to negotiate up on a salary offer and I get a better return on my dollar.  I am hard-pressed to pay more for someone than they demand to be paid for themselves.  Maybe I’m wrong in this, but don’t expect me to pay you more if you don’t know what you’re worth in the first place and can’t advocate for that worth through professional negotiation.  Your power lies in saying “no thanks” when I or anyone else offers you a certain salary that you don’t think reflects your value.  If I agree, I’ll come up on my offer, and quite honestly, I’ll raise my value of you when you negotiate because that is a skill I need.

  • 10 Quotes from Cy Wakeman at #SHRM19

    10 Quotes from Cy Wakeman at #SHRM19

    10 Quotes from Cy Wakeman at #SHRM19 on Ensuring Your Team is Ready for What’s Next

    Our team attended the SHRM Annual Conference this year, and Cy Wakeman said 10 things that resonated with us. Read on for the Cy quotes, and follow along with The Point Blog for more insights from speakers and authors.

    “Change isn’t as hard when we embrace it incrementally. One upgrade on your phone is easier than converting from a flip phone to the newest version.  Get people to a state of readiness.”

    “A leader’s new role: Help employees eliminate emotional waste by facilitating good mental processes.”

    “Not everything is a change initiative- most of it is just your daily job.”

    “Unreadiness for change causes surprise, panic, and blame.”

    “Change doesn’t hurt, resisting change is what hurts.  People don’t get hurt falling down, they hurt resisting the fall.”

    “Your preference can’t trump the business case. Don’t favor preference over potential.”

    “Stop trying to please everyone during change.”

    “Standardize as much as you can in order to scale.”

    “You’ve got work with the willing and activate them.”

    “Too many people are asking to be empowered. But empowerment is really stepping into your own power.”