The Executive Playbook for Tech Disruption
Preparing for Technological Disruption: The Executive Playbook for the Future In an era where change is the only constant, technological disruption has emerged as a
Property owners who want to sell usually have a figure in mind that they plan to ask for their property. That’s their asking price. However, savvy property owners know that asking price and selling price can be two very different numbers. What the market will bear overall and what their property offers that gives it a distinct advantage in the marketplace can bring the two prices quite close together or drive them miles apart.
The same is true for you as an executive seeking a new position. What you feel you should get for compensation and what you actually will get could bear little resemblance to each other. So how do you determine what you’re really “worth” and how can you secure that compensation level for your next job?
How Much are You Really Worth?
This is somewhat of a two-part question. First, you need an idea of where your experience and other qualifications fit in the general marketplace. Then you need to determine the challenges that could stand in your way and the factors that might give you an edge—that is, push you toward the high end of the range.
Three Challenges You Might Face
Three Factors That Could Work to Your Advantage
How to Negotiate the Compensation You’re Worth
It’s not within the scope of this article to cover in any depth the complex subject of compensation negotiation. However, here are a few key points to keep in mind:
1. Dealing from a position of strength gives you an advantage. The extent of the advantage might vary, but it’s important to take whatever steps you legitimately can to put yourself in that position. Maximize your value proposition and minimize the possible impact of “desperation” elements that might make you more vulnerable and prone to accept less than you should.
2. Knowledge is a form of power in negotiating compensation. There’s really no excuse for not investigating the situation as fully as possible to determine not only what people like you are currently making in the targeted role but also other business and economic factors that might influence the negotiations. You can’t go back and renegotiate if you find out things later that you didn’t know and should have.
3. The desire to burn bridges when you’re leaving a bad situation needs to be restrained. Even if you were forced out in a power play not of your making, you need to move beyond the bad taste of that and focus on moving forward without leaving a disaster zone behind. It’s important to keep that situation from becoming a roadblock to successful compensation negotiation in your next position.
Know what you’re really worth and then get it: That might be easy to say, but you know it’s probably not that easy to do. On the other hand, it’s not impossible either. And as the saying goes, “Anything worth having is worth fighting for.” Gear yourself up for the fight and go for it!
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