Salary Negotiation. Pt. 5
In this episode, we delve into the often-overlooked aspects of career growth beyond the paycheck. We discuss the concept of an exchange of value, where your contributions to a company align with the benefits you receive. A key component of this exchange is having a leader who invests in your development. We explore the importance of mentorship and sponsorship, and how a supportive leader can significantly impact your career trajectory.
We also discuss the elements of a proper compensation package. While salary is important, it's not the only factor to consider. We'll explore other benefits like health insurance, retirement plans, and professional development opportunities that contribute to a fulfilling and rewarding career.
Tune in to learn how to navigate the complexities of career growth and create a mutually beneficial relationship with your employer.
★ Support this podcast ★Welcome to the Leadership Sovereignty Podcast. I'm your host, Ralph Owens, along with Terry Bailey. In today's episode, we'll touch on topics such as the concept of exchange of value, having a leader who invests in your development, the power of having a sponsor, and what a compensation package should contain. Enjoy the show. Do you have a leader that's willing to invest in your development?
Speaker 1:That's a huge one. Yes. That that I mean, Terry, what are your thoughts on that when you hear that?
Speaker 2:That is invaluable because they are interested in you as a person. And more than likely, if that person is interested in in your personal development, right? They're going to your one on ones are going to be just more rich. I've had one on ones with leaders that I know you, you know what, man, look, you can do with me or without me.
Speaker 1:That's right.
Speaker 2:And those one on ones, are they're sterile. Know, it's all of it is is transactional, right? That's all it is, you know, is transactional. Going back Ralph, one of the points that, you know, was that I was thinking about when were talking earlier about it's more than just money. And also you have to understand that you can't get it all and they get nothing.
Speaker 2:And it brings back something we talk about all the time is the exchange of value. And so as that employee who's looking to join a new organization, one of those key exchange of values is, and I would say, I would determine it's, some people are going to say salary. Honestly, I think it's above salary. It is. Do you value me as an individual?
Speaker 2:Because if that's the right way, then everything is going to spring out of that. Sure. Right. Even if even if it's a scenario where you need and sometime it happens, right? You may need to have some course correction.
Speaker 2:Right. I like to call and we talked about it, right? It's feedback.
Speaker 1:Yeah, that's right.
Speaker 2:That feedback is going to come a certain way.
Speaker 1:Right. That's right. That's right. That's right. And and and also to that point for that person, that leader, are you gonna have a sponsor in this organization?
Speaker 1:Right? Is there gonna be someone who as Carla Harris says is willing to pound the table on your behalf in rooms that you can't get in? Yep. Right. That could also be a piece of the negotiation that you take in.
Speaker 1:Well, not the negotiation, but, when you are determining whether or not this is a good, you know, positional role for you because that can trump money. And I know some people may be saying, well, you don't know my situation, but hear me when I say this, a sponsor can lead to other positions that can make you way more money and a lot faster. Right? Does that company invest in your education? Sending you to, you know, for us, we in it, send you to technical schools or to conferences and things of that nature.
Speaker 1:Do they support your, you know, education outside of work? And then, you know, again, the conferences, things of that nature, are they willing to invest in you getting exposed to, industry standards and technologies that's going to help you be better in your role? Or is it going to be, Hey, we're just going keep you in this cubicle. You just going to do this for eight hours a day. And that's it.
Speaker 1:You have to weigh all of those things in order to determine what's the best compensation package for yourself. Right?
Speaker 2:Most definitely. Look, there is We I can assign enough value to having a leader who's vested by nature in the folks on their team. And let me give you an example. Let me give you an example. I work for a leader to the extent that he cared so much about his employees and the impact that leadership was, know, some of the decisions that were happening.
Speaker 2:And and and in this role we had a you know we had a series of rifts and in Ralph you know I'm not going to mention the company but you know we both went to that leader and said look you know these are our guys Let us let us. He was like, no, you know what? I don't want you guys to have to bear the burden of doing that. Right. But I know of a situation now where, man, I'm hearing and seeing how things are going in a similar situation to that.
Speaker 2:Boy, if I could just share how this leader is addressing those situations, it concerning. It is concerning. And you know, for those are those persons, you know, the information that's being shared for me, those persons who are still in the room. Man, the level of uncertainty that they have because of how the leader is articulating it. Right.
Speaker 2:So this channel has given us a platform where people are coming and bringing their issues to us. And so I'm like, God, give me wisdom and knowledge on how to share and lead, you know, and help lead these persons through these scenarios where they're coming and saying, Terry, I'm just Although they're telling me I'm okay, I don't know if I am because of how things are being communicated about the people who aren't okay.
Speaker 1:Right, right. For those who don't know what a riff is, that's a reduction in force. That's basically when jobs lay people off.
Speaker 2:So if you have a leader who cares about because even if you have to go through that, it's gonna be done a certain way. We can't avoid those things. It's business. It's a part of the game. It's just a part of it.
Speaker 2:But yeah, I cannot, again, as I stated before, state enough, the value of having a leader and you can dig into that. Right. You can end that negotiation. Right. And we're saying from, from the inception of the very, you know, first conversations, Hey, how do you, what's your philosophy on leadership?
Speaker 2:Right. How do you, a scenario where there has to be feedback provided, how is that documented? How do we follow-up on it? How do we ensure that person on your team comes out a winner? Can ask questions around that.
Speaker 2:Right? That leader will understand that, Oh, this person is interested in more than just the technical aspects of what the job does.
Speaker 1:That's right. That's right. And if you hear, if you get feedback from that person in that moment that, Oh, I don't normally get up, give feedback. I just let you figure it out. You need to run the other direction.
Speaker 2:As fast as you
Speaker 1:can because you may be making an extra dollar, but you won't have any guidance. You won't have any leadership. And soon as something goes wrong, they're throw you under the bus.
Speaker 2:Oh, yeah. You're gonna be wearing that.
Speaker 1:Yes. Yeah. Yeah. Yeah. Thank you for listening to the Leadership Sovereignty Podcast.
Speaker 1:We hope that you not only enjoyed the content, but gained something to help you on your personal leadership journey. Feel free to reach out to us on x and Instagram under the handles Leadership Sovereignty. Until next time, stay safe, peace, and blessings.