Tag Archives: Human resources

Know your worth

“The cynic knows the price of everything and the value of nothing”.  Oscar Wilde.

Whether you are moving to a new job or approaching your annual pay review, when it comes to salary negotiation, it is vitally important to know both the price ( in this case of hiring you ) and therefore the value that you bring.  There is nothing cynical in that.  Why run the risk of selling yourself short?

Start with what your currently earn.  It is important to understand the value of your entire package.  I have been amazed over the years just how many people I have interviewed as a Recruiter who didn’t even know exactly their gross annual basic salary.

How much are your additional benefits are worth?  What is the value of your employers pension contributions?  How much is your healthcare worth?  Do you have a laptop, a mobile phone, a company car, a gym membership?  If so what price can you put on these benefits?  How about your holiday entitlement?  If you have a great annual leave deal or benefit from flexible working, what value can you place upon such a benefit for you personally?

How does your current deal compare to market rates?  You can talk to Recruiters who should have a good understanding of what employers are paying in your area for your skill set.

There are a wealth of salary surveys online that can give you a good sense of the salary range that your skills, talent, qualifications and experience would position you in.  However you should look to be more specific.  There are a number of great resources available online that enable you to compare your deal with that of your peers.  You might want to try

www.payscale.com

www.salarycomparison.org

www.salarydom.com

It is all very well knowing the value to your employer of your skill set.  Do you know the value to your employer of that which you have achieved?  Keep an up to date list of those achievements in your job that you feel have added significant value.

Can you quantify those achievements, put a number to them?  If you can’t, why not ask your employer to?   You cannot afford to be shy or humble.  With average UK wage increases in 2011 predicted at 2.7% against inflation at 3.1%, it will cost you.

Do your homework.  Know what you want, know what you need, be realistic, be reasonable.  Know your price, know your value, know your worth.

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Filed under Careers, research

Relocate or wither and die on the corporate vine

http://www.telegraph.co.uk reports this morning Des Hurlby, Human Resources Director at international car maker Jaguar Land Rover,  as having “had “pointed” conversations with up to five of the company’s best employees urging them to consider moving “out of leafy Warwickshire” to China to help the company capitalise on emerging markets“.

” Those who refused had less chance of being shortlisted for a future top job at the company” reads the report.

The war for talent is truly global.  If you want to assume a seat at the top table in a global company then you need a truly global perspective.  In that sense Mr Hurlby is right to suggest that your experience of life in “leafy Warwickshire” alone is unlikely to equip you for the challenges you will face as CEO of Worlwide Plc.

To run a global company in 2010, you need to understand politics, culture, economics, social issues, working practices, people, management styles, the laws of the land in which you are operating, the list goes on.  Sure you can gain such knowledge from in – country leadership, but unless you have experienced working life in a practical sense in other cultures how can you understand the opportunities, innovation and strategies required to remain competitive?

That aside, the article refers to Jaguars stance as controversial.  It’s not.  The employer is well within its rights to explain to its employees that if you want the top job you will have to consider upping sticks and relocating.   The employee is equally within their rights to refuse to relocate.

We have choices in life.  Our fortunes rise or fall on the strength of the decisions we make, the choices we take.  There is much to be gained from enriching your experience in different countries and cultures as much as there is to be gained in terms of happiness from raising your family in “leafy Warwickshire”.  We all have a choice.  Nothing controversial in that.

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Filed under Careers, Talent

Staff Turnover costs the UK £42BN per year! What are you doing about it?

A new report is out this week from PriceWaterhouseCoopers.  It is a frightening read.  In the last 12 months, despite one of the toughest economic climates on record and rapidly rising unemployment,

“an average of 10.4 % of UK staff resigned from their job in the last year”.

That is a staggering number.  Can you imagine losing 10% of your staff in one year of their own volition?  What would be the impact on your business?  Do you know?

The cost to UK Plc of staff turnover in the last 12 months has been a staggering £42 billion!

The cost to business of staff turnover is huge.  Yet this cost would appear to be largely ignored.  So many espouse the virtues of people as the organisations greatest asset.  Yet how many are truly focused on having a great hiring strategy?  What about engagement?  Retention?

To much of hiring is left to chance.  No other business process would be treated in the same way.  Why?

You would never take a chance on a business critical pitch.  You would give it your all to ensure you got your new customers signature on the contract.  Once you’ve got them, you’ll move mountains not to let them go.  Why not do the same with staff?  What’s the difference?  Do we work any harder to attract customers?  Attracting retaining and engaging talent is crucial.  The same survey highlights

24% of UK employees are looking or intend to look for a new job.

Look around at your workforce today.  One in every four is looking for a new job.  Can you afford to lose them?  What are you going to do about it?

Take your hiring seriously.  Invest in your people.  Do it from today.  Do it every day.

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Filed under Employee Engagement, Hiring