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Realizing Your Worth: Negotiating Part 2

Realizing Your Worth: Negotiating Part 2. Women in Healthcare Leadership Feb 25, 2014 www.wihl.org Alabama. BIO. Wife/Mother of 3 Working Mom; 27 Years in business Author of five books & a popular motivational blog Sr. exec at a healthcare technology co.

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Realizing Your Worth: Negotiating Part 2

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  1. RealizingYour Worth:Negotiating Part 2 Women in Healthcare Leadership Feb 25, 2014 www.wihl.org Alabama

  2. BIO Wife/Mother of 3 Working Mom; 27 Years in business Author of five books & a popular motivational blog Sr. exec at a healthcare technology co. Named by the DBJ as one of the top 25 ‘Women to Watch’ in Dallas Business in 2010 Named one of the top 100 Branding Experts to follow on Twitter Book- Brand YOU hit #1 on Amazon the first week of its release

  3. You are an asset • Analyze Your Worth • Base Your ASK on YourBrand & Market Value • How to ask • Leaning on your PersonalBoard of Directors • An Exit Plan *Our Agenda What will we cover in the next fewAMAZING moments together?

  4. Learn to Ask & Negotiate YOU Are an Asset • You are an asset that needs to be managed • You are in charge of your earnings& your earnings growth • You are responsible to get the curve up as high as you can and keep it up as long as you can • Similar to your 401K- this will need your focused attention • You are responsible for your earnings and your career path • Gone are the days that your employer will plan your career for you

  5. Learn to Ask & Negotiate Analyze YourWorth & Increase Your Value • Analyze your worth • Use THIS ‘VALUE’ to establish& negotiate your pay • This is your ‘Blue Book’ Value • Like a car, you want to get whatyou are worth in the market • Varies by geography • Varies by size of company • Consider adding extras • Certifications • Additional degrees/college education • Classes that interest you • Find an Expertise Area • MU2, ICD 10, Population Health, Accountable Care…

  6. Learn to Ask & Negotiate Based Your ASKon Your Brand & Brand Value • Why do you pay more for NIKE than for a no-name brand? • Your value needs to be justified • Solidify these with examples & proof statements • Companies will PAY for RESULTS& Value • Be prepared to tell them the value you bring • Be able to answer the ‘What Makes You Unique?’ Question • Have stories of your success not only readily available, but havecase studies and papers written about YOU (YES YOU CAN DO THIS) • MARKET and BRAND YOURSELF with as much energy and vigor as you market your company and sell its services • If you don’t, you will continue to be 22%-30% under market

  7. FemaleCharacteristics • Loyal to a fault • We stay in roles and positions out of guilt and concern forour bosses, the company, the staff that reports to us… • None of the ‘others’ affected will be caring for us when we are agedor paying our kids way through college • Put others in front of ourselves (AND I MEAN EVERYONEelse in front of us!) • Natural Nurturers • Caretakers • We want to help others avoid strife • Because of this, we don’t recommend our peers for tough roles • We are ‘protecting’ other women, inadvertently holding them back • Not driven to be #1 and make the MOST money (as a general rule) • We put others needs in front of our own • Comfortable in #2 roles

  8. Learn to Ask & Negotiate Outside-InAssessment of YourStrengths • Ask others what you do amazingly well • Email 5 people you’ve worked with • This is a great confidence builder • You may be OVERLOOKING great greatest skills becausethey come so easily to you • Open your eyes to see your good strengths • We tend to be over critical of ourselves • What are some of your proudest work accomplishments? • This will point to strengths/amazing capabilities • Let yourself acknowledge what you are GREAT at

  9. Learn to Ask & Negotiate Lean on Your Personal Boardof Directors • Develop a Personal Board of Directors to Help You Manage Your Career • Find 4-5 People you admire and ask them to help you Manage Your Career • Ask: “If I were to call you 2-3 times a year, would you be willing to give me career advice and feedback. I won’ttake more than 15 minutes of your time.” • They can guide you on what career opportunities to seekout and where your skillsets will fit into the market • They will know compensation ranges and can guide your earnings • My BOD has saved me time and time again

  10. Learn to Ask & Negotiate An Exit Plan • Always have an exit plan • This market is a bit like rock climbing- dangerous cliffsahead! • Apply for 2 positions a year and build relationships atother companies • Prepare for a possible exit, even if you do not plan touse it • If your position was suddenly eliminated, you would bepoised and ready to execute on your plan B • Exit plans can help you assess your market value, & see what skills you need to add • Sometimes you cannot get a raise without an exitplan or leaving your current employer

  11. Learn to Ask & Negotiate How to ASK • STEP 1: Acknowledge the UGLY truth • This is about self preservation • A Player Market • Your salary could be indicating you are a Bplayer and could be putting you at risk • STOP Thinking you are helping them out: YOU areBeing Overlooked for opportunities • YOU are probably being underpaid • If you have been in your position for 8 or moreyears, you could be 30% under market value • STEP 2: Armed with your research, go ASK for a raise • Chin up ladies, you will get several ‘no’s’ - SO What! • Persevere • STEP 3: Don’t Give Up (and be creative) • Consider options, a new title, increased days off, etc.

  12. Why Don't We Ask? • We don’t have enough faith in our own abilities • We don’t ‘BRAND’ ourselves well • We don’t believe we are worthy of: • Raise • Promotion • Project • Position • We are too scared to fail, too afraid of a ‘no’ to risk asking • We believe our boss when they say that “they don’t have itin the budget” • I’ve fallen into this trap; that same year a male peer of myreceived a raise • If your current company can’t afford you, find a company that can

  13. Learn to Ask & Negotiate Your Go Forward Plan • Start with Defining Your Brand and What Makes YouUnique • Calculate Your Worth • Look up your title on www.Salary.com • Buy salary surveys if need be • Network network network- determine what others in similar roles at other companies are making (start sharing numbers) • Develop a Big Picture Plan for Where you want to Take Your Career • Sometimes you will sacrifice salary to get experience • Start ASKING for raises and applying for promotions • Learn to be OK with a ‘No’ • Apply for 2 positions a year • Annually review your career track & earnings

  14. Questions??? OK- DON’T be shy,THIS IS THE BEST PART Let’sROLEPLAY GiveMe a Scenario---Let’s talk through it

  15. Contact Information 40,000 PEOPLE LOG ONTO HER WEBSITE EVERY MONTH 5 * * COUNTRIES THAT SELL HER BOOKS 2008 FIRST BOOK LAUNCHED Headline Headline Lorem Ipsum has been the industry's standard dummy text ever since the 1500s, when an unknown printer took a galley of type and scrambled it to make a type specimen book. Lorem Ipsum has been the industry's standard dummy text ever since the 1500s, when an unknown printer took a galley of type and scrambled it to make a type specimen book. @BethanyaWill @BethanyHealthIT

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