Key Point: What is your net worth? What is your overall net value in the market place? The most common definition of individual net worth of course is financial: Your total assets minus total liabilities. For most people the largest single material asset earned in a lifetime is a house with no mortgage. That “paid for” house, a pension savings plan, other assets earned, along with little or no debt defines one’s ability to retire… Whatever that means these days.
But what if we approached work and life with a more comprehensive definition of net worth? What if we thought way beyond material assets versus liabilities and considered all that made us richer in a more complete way. When we conclude working in a job, company or lifetime career, my view is that we could be much better off if we think about building our overall personal equity, rather than the narrower (although very important) definition of financial net worth. When we add more skill, we are worth more. When we learn how to navigate tough issues, solve problems, innovate, build meaningful relationships, become healthier physically, emotionally and spiritually, our total personal equity increases. When we learn how to give and share knowledge, have an impact, and inspire others we also become more treasured. And when that happens, if we choose, our ability to monetize our net value or personal equity improves too.
Organizations are under such severe market pressure that a genuine offer of long-term employment is unreasonable, if not impossible. A job that was important last year may be expendable this year at any position or level. North America currently has more of a skill and competence shortage than unemployment challenge. You and I honestly don’t really know if we will still be employed at the same job a year from now. But we do know that we have to continuously develop our TOTAL selves to be sustainably marketable.
Character Moves:
- Find an organization that commits to the total you versus just giving you a job. They will be committed, assuming you do your part also, to invest in your total personal equity growth.
- Commit to finding leaders who think like this. They exist. Then pledge to take full advantage of investment opportunities in yourself. Like I noted in my previous blog, “you’re worth it!”
Personal equity in the Triangle,
Lorne