Ep 160: Determining Value
When I say the word “value”, the meaning that typically comes to mind is generated by that persons position or context. Andrew and I were having a chat about how employees think of value versus how employers think of value and is there a disconnect between these two groups that should be concerning? Welcome to EP 160: Determining Value [Note: If you are reading this via email, click here to access the on-site audio player] googletag.cmd.push(function() { googletag.display('div-gpt-ad-1562005974350-0'); }); As someone who’s been on both sides of the employee-employer equation, I’ve come to understand that value is a fluid concept that shifts depending on where you stand. For employees, value can be anything from a paycheck and benefits to growth opportunities or simply feeling appreciated for their hard work. I’ve seen this firsthand as a mentor, where the definition of value varies wildly from one person to the next. Now that I’m in a leadership position, I try to stay mindful of those diverse perspectives, recognizing that what people prioritize in their work lives can change based on where they are in their career. On the flip side, as an employer, I’ve learned to see value in terms of what an individual brings to the team—whether it’s their skills, attitude, or ability to help the company succeed. However, as an employee again, I find myself thinking more about what I get out of the job in return for my effort. Balancing these two viewpoints—what employees expect and what employers prioritize—is crucial in fostering a healthy, productive work environment. So, let’s kick off by diving into the employee’s perspective on value: what drives them, what they’re looking for, and how they measure it. After that, we’ll switch gears and explore how employers define and recognize value from their side of the table. Job Satisfaction and Personal Fulfillment jump to 4:18 Employee Perspective From an employee’s perspective, value isn’t just about the paycheck—it’s about job satisfaction and personal fulfillment. Yes, fair compensation is important, but once that’s met, the real question becomes: are you doing meaningful work that you enjoy? Does your job align with your values? As my career progressed, I realized money wasn’t my primary motivator. Sure, everyone wants to be paid well, but what really mattered to me was the type of work I was doing and how it contributed to something I believed in. Research supports this—89% of employees who enjoy their work and feel it aligns with their values report higher motivation and satisfaction. Once fair pay is in place, true value comes from feeling purposeful, enjoying your day-to-day tasks, and seeing your career heading in the right direction. (full report can be found here) Monetary Compensation and Benefits jump to 7:12 Employee Perspective From my perspective, while monetary compensation is important, it's crucial not to overvalue small differences. If you're earning $62,000 and your friend makes $64,000, it shouldn't be a deal breaker. However, if the gap is significant—like $90,000 versus $60,000—that's worth examining. What I see frequently is that employees often judge their value based on salary alone, and while that makes sense, as an employer, I have to manage broader considerations. I can't just give one person a substantial raise without considering how it affects everyone else in the company. People should appreciate that sometimes it's not about withholding; it’s about managing fairness across the board. It’s important to provide incremental raises regularly, like 3-4% each year, rather than waiting years for a big adjustment.
