We interviewed two of our consultants recently to see what advice they could give on improving your market value. And what we mean by market value? Well, how to sell your best skills and qualities of course! The information here provides you with an insight into some of the tricks of the trade...
What key advice would you offer in terms of how an individual can improve their market value?
Be clear about the target market you are aiming to improve your value in. Identify what that market is looking for by researching the industry, competitors and then ensure they are in a position to offer both technical skills and experience accordingly
Think of yourself as a product that needs to be continually upgraded. Ensure you are equipped with industry recognised qualifications and or certifications which are currently being sought by the market (your customer).
Is it important to have a structured approach to improving your market value?
Absolutely, anyone who is considering a career move or searching for a potential candidate will adopt a proactive structured approach. A clear understanding of your key strengths and potential development needs will help to improve the planning of the approach, show a potential employer self awareness as well as demonstrate what “you bring to the party!”
What aspects are often overlooked by individuals when assessing their value in the market?
Often individuals overlook their transferable skills and focus on their current role in their current organisation. Worth considering the last 5 years and previous experiences which have similarities to a role in a different market. For example graduates forget the huge amount of planning, organisational and team working skills they bring with them from their time at university when applying for their first role.
Individuals overlook the huge amount of information available through research as explained above and rely mainly on narrow sources of information such as job websites.
What are the essential dos and don’ts of improving your market value?
Essentially it is important to not only focus on developing your technical skills and look for opportunities to apply these as employers will be interested in specific experiences you have had applying these skills and these build your credibility. Don’t rely on just having the theory or knowledge – experiences are a more reliable indicator of what you bring to the market.
Interpersonal and other non-technical skills and competences are just as important. There is little point being a technical genius in your field if you are unable to work with others, communicate effectively, plan and make effective decisions for example. Make sure you are developing yourself in these areas and can demonstrate these with examples at interview.
Make yourself known in the industry –network with those who have a good reputation and get introduced to the those who have influence in the industry.
Ensure you are aligning yourself with the needs of the wider job market and not just the requirements of your organisation. Speak up at appraisal/development meetings to ensure you are getting the development you need to keep you current.
Finally use online networking to expand your knowledge, improve your research and increase your reputation through recommendations from those in the know
What methods or tools would you use to benchmark your remuneration package?
Use salary comparison websites, speak to colleagues in the industry/similar role, network with HR contacts and ask for input via online networking sites such as LinkedIn to assist you when moving sectors/position to benchmark your remuneration package,
For more information on creating the perfect CV and preparing for interview, contact us for a FREE copy of the GradGuide2010.