Adding Value to a Company: Definition and 10 Ways to Do It
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Job security is an important concern for many professionals. Making yourself indispensable to the company you work for could help increase the chances you retain your job, and it could also increase your earning potential and advance your career. One of the best ways to do this is to demonstrate to your employer that you're valuable and know how to add value to a company. In this article, we look at what adding value to a company is, discuss the benefit of doing so and list multiple ways you can add value to your workplace.
Related: Top 21 Areas of Improvement at Work
What does adding value to a company mean?
Adding value to a company means making extra contributions that ultimately help improve a company's business. The duties and responsibilities outlined in your job description were designed to achieve a specific outcome, and successfully performing these duties is important as it's your contribution to your workplace. Adding value to your workplace means going above and beyond your intended duties. You can add value through your personal performance, such as improving your skills, taking accountability for your work or contributing to an organisation's performance by increasing your sales or impressing customers.
What are the benefits of adding value?
Actively contributing to your organisation's growth and making yourself a valuable employee is integral to your long-term success. Knowing how to add value to your role benefits both you and your employer. Employees who have noteworthy value and actively contribute to their workplace tend to have higher earning potential and better career progression. Your employer may also reward you through regular praise and recognition for the work you do.
Ways to add value to a company
Value-added contributions can vary from one industry to the next. Adding value to your workplace shows your employer that you're committed to the team and overall growth of the business. Whether you're aiming for job security or career advancement, here are 10 ways you can add value to a company through your personal performance:
1. Become an expert
You can increase your value within a company by becoming an expert in both the work you do or in a specific task or program. On-the-job experience and additional training, such as online courses, can help you become an expert in your role. Having a strong understanding of the duties and responsibilities of your role can make you an excellent point of contact for new hires, and you can help answer questions on behalf of your coworkers. It also helps minimise the amount of time researching or consulting others on your duties.
2. Keep up with trends
With technology always evolving, staying current with the latest technologies and software can be an invaluable asset to your current job and your career. Staying informed of different trends gives you a competitive edge, such as becoming skilled in specific software can make you the point person when someone needs help navigating a program that you're skilled in.
Having specialised knowledge can increase your contribution to a company because it allows you to help others, which in turn, may help you gain recognition for your contributions to the whole team rather than to your specific role. Your employer may also rely on your specialised knowledge which increases your value within a company. Some commonly used workplace software that may be helpful to master are:
Social media platforms
3. Be knowledgeable about your industry
Industry insight helps you better understand the industry you work in. An employee's value increases when they understand their competitors, factors that affect their place of employment and significant changes taking place within the industry. Knowing what is going on in your industry can help you identify new opportunities and keep you ahead of the competition. You can always educate yourself and stay up-to-date on what's going on in your industry by reading industry-related publications and networking with other professionals within your industry.
4. Improve efficiency around the office
Even if a program or procedure works, there is often room for improvement. Rather than criticise inefficient set-ups or non-optimised platforms, coming up with cost or time-saving solutions can help make everyone work more efficiently which can impress your employers. If you have an idea of how you can eliminate redundant steps and streamline a repetitive task without cutting corners, you can consider notifying relevant management as they may appreciate your initiative.
5. Submit high-quality work
Producing high-quality work can mean spending extra time and putting in more effort to help ensure you're submitting your best work. Taking the time and effort to correctly and thoughtfully complete your duties can impress employers and boost your career advancement. Regardless of the expectations of your role, always submitting quality work is often a strong career booster. Not only may your employer appreciate the extra time, dedication and attention to detail, it's also a great way to show them that you're reliable and trustworthy.
6. Take initiative
Anticipating what work needs to be done and completing tasks without being asked or assigned is a great way to make you more valuable. Having initiative can demonstrate to your employer that you're motivated and a strong leader candidate. One great way to take initiative is to reach out to colleagues who are struggling to meet their deadlines and offer to help. Taking initiative and helping out the team during busy periods is a good way to show your employer and your co-workers that you're a team player.
7. Become a customer
If you want to know who the customers are and what they want, you may want to consider becoming a customer and experiencing a company's services first-hand. Experiencing the same processes as your customers may give you better insight into areas where a company excels and areas where the team can improve a customer's journey. You may also learn about a company's business processes that you weren't aware of.
8. Improve your communication skills
No matter what industry you work in, good communication skills are essential as they impact workplace culture, morale and productivity. Whether it's interacting with customers, colleagues or your superiors, being able to communicate clearly and effectively is valuable to most employers. If you wish to improve your communication skills, you can consider offering to lead meetings, enrol in public speaking courses or attend networking events. If you have an important meeting coming up, you may want to prepare in advance by rehearsing your talking points to make sure you're delivering your message in a clear and concise way.
9. Maintain a positive attitude
Your attitude can have a massive impact on your workplace environment and your career. People often enjoy working with a colleague who is uplifting and pleasant to be around. You can increase your value by being more positive in your communication and actions in the workplace. Being positive won't outshine your job performance or work ethic, but it's likely to impact the way your colleagues and superiors view you.
Being able to motivate yourself and coworkers can also be a great contribution to a company's productivity. Employees who possess a growth mindset and a can-do attitude are more likely to succeed and advance their careers.
10. Showcase your problem-solving skills
Effective problem-solving skills are essential in most workplaces. Showing your employer that you can develop a well-thought-out solution in a timely manner is a valuable skill. Not all ideas work out, but demonstrating to your employer that you have a planned and structured approach to solving problems and can come up with unique solutions shows that you have a lateral mindset and possess a range of other competencies such as creative thinking and resilience.
Document the ways you add value
Throughout your career, it's important to keep track of your value-added contributions. Having this evidence to support your claims may come in handy during an annual performance review, when asking for a promotion or remuneration or switching careers or jobs. Providing your current employer or potential employer with concrete examples of how you've added value to a company can help you build a stronger case when negotiating a pay rise, career advancement or career change. Documenting your contributions can also help you better understand your own skills and how they apply to your role and industry.
Please note that none of the companies mentioned in this article are affiliated with Indeed.
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