Executives: Are You Worth the Investment?
As an executive, you are probably well aware of what the acronym ROI means: return on investment. In business, returns need to be all but guaranteed to make an investment worth while.
As you know, companies must consider the same concept when looking at employees to hire. They must feel confident that they will receive a great return on their investment. When a return isn’t guaranteed, you won’t be hired. How can you prove that you’re worth more to a company than they’ll invest in hiring you? Here are a few ideas to consider …
Look at Your Revenue
If there were quantifiable parts to your previous job, you want to make sure to put them into numbers on your executive resume that will help illustrate your success. Revenue is one crucial area–show prospects that you turned into sales, major business deals, and other revenue you’d earned for your previous employers.
For instance, you might note that you not only were able to slash hiring expenses by cutting advertising costs (advertised on free websites), but you were able to create a stellar staff that increased revenue by X amount of dollars over a year’s time. Using numbers is critical when trying to show the return on investment that you represent for a prospective employer at the executive level.
How Productive Was Your Staff?
Companies spend a lot of time looking at productivity, since they’re as aware as you are that time is worth money, and improving productivity decreases operating costs. If you can look at productivity in practical terms, this is a good idea.
As an example, you can show the time it took you to finish a large project that led to a revenue increase of 3% in a given year. As an example, consider a project that employed 20 workers for 12 weeks with 40 hour per week shifts, and a cost of per hour. The cost of this was ,000. Let’s say that you also invested in training resources of 0 per employee, and software updates that cost K but cut the project down to six weeks. A final project cost at ,000 indicates company savings of ,000, along with 3 percent improved revenue and process efficiency increases that allow employees to begin work on other projects.
Other Numbers to Think About
If your segment of the company didn’t work in terms of revenue, you can still note numbers that represent progress. For example, if you’d managed customer service, use the metrics that you used in your old department to show improvements in customer satisfaction. Many companies consider the time frame of each customer service call or the number of calls taken on an average business day to find results, so think logically and come prepared.
Remember, just like on your previous jobs, prospective employers want to know their potential ROI when looking at candidates. Since this is something you’re used to doing, show them exactly why they should hire you by giving examples they can understand.
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