If you're involved with sales and marketing, you've probably heard of the customer value equation. It looks like this: Customer Value = Perceived Customer Benefits - Total Customer Cost.
Essentially, does the customer feel like they are getting more benefits than the amount they paid? If so, they will feel good about their purchase. If not, they may feel buyer's remorse. We've all been there before.
I think the customer value equation can be applied to jobs as well. In every job, employees receive benefits and incur costs.
The most obvious cost of a job is the time we spend at it. But we also pay in physical and emotional stress, cognitive strain, and poor employee experiences. High-cost jobs can leave employees burnt out.
The most obvious benefit of a job is the pay and benefits we receive for our labour. However, jobs can also provide growth and development opportunities, pride, enjoyment, friendships, interesting work, meaning and purpose.
When we confuse the value equation of work as simply being about time and money, we miss out on the true value that work can provide employees. How is your value equation measuring up?
A TEAM HUMAN CONVERSATION
Fight workplace zombies in your organization and join Team Human! Gather a group of fellow workplace zombie hunters to discuss our most recent blog post. Use the questions below to kick start your conversation.
What “costs” do you pay in your job?
What “benefits” do you receive from your job?
What additional “benefits” would increase the value of your job to you?
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