![]() You cannot ask someone to use their hard-earned personal influential currency on your behalf if you've never had any interaction with them. “Relationship currency is the currency that is generated by the investments you make in the people in your environment. The currency that now becomes most important is relationship currency…” ![]() Everybody expects that you will always deliver, so there is no longer any premium associated with your deliverable. Everybody knows that you will do a great job. “.Here’s the problem with performance currency: over time, performance currency starts to experience diminishing marginal returns… Why? Because now you have created a new standard of excellence. Why? Because everybody loves a star.īut if you find yourself in a situation where you don't have a sponsor, here's the good news: remember that you can exercise your power and ask for one." Why? Because strong performance currency raises your level of visibility in the environment… such that a sponsor may be attracted to you. It will create a reputation for you.Ģ) It will also get you paid and promoted very early on in your career and very early on in any environment.ģ) It may attract a sponsor. “Performance currency is valuable for three reasons:ġ) It will get you noticed. Every time you deliver upon an assignment above people's expectations, you generate performance currency.” Performance currency “is the currency that is generated by your delivering that which was asked of you and a little bit extra. The former is valuable especially at the start of your career, but the latter is even more valuable, growing in importance as your career matures. Two concepts that Carla often talks about often, signalling their importance, are (i) performance currency and (ii) relationship currency. Performance Currency and Relationship Currency So therefore, you need to make sure that that person who is speaking has your best interests at heart and has the power to get it, whatever it is for you, to get it done behind closed doors.” ![]() There is a measure of subjectivity in how they say what they're going to say to influence the outcome. There is a measure of subjectivity in what they say and how they interpret any objective data that you might have. There is a measure of subjectivity in who is presenting your case. So that means it has that measure of subjectivity. “The combination of the two did not equal maximising my success, so I had to ask myself what’s missing in this success equation… You cannot have a 100% meritocratic environment when there is a human element involved in the evaluative equation, because by definition, that makes it subjective… there's not one evaluative process that I can think of, whether it's in academia, health care, financial services, not one that does not have a human element. One of Carla’s insights that is particularly useful for those starting out is that career success is not merely a function of how smart you are and how hard you work. ![]() And, on the topic of performance reviews: for more on preparing for your one-to-one performance discussion with your direct manager, see our post: Ace your Performance Appraisal. During his career, our Executive Director has experienced these types of meetings a number of times, including when selecting bursary candidates at a previous employer, and Carla’s description of the importance of someone speaking on your behalf is spot-on. This ranking then is “translated into a bonus range that would be assigned to each professional”. In her talk, Carla references the year-end evaluation process, called moderation in some companies, where employees are allocated into categories e.g. It is roughly 13½ minutes long, and below the video we recap highlights, together with more of her pearls on performance, relationships, perceptions, power, risk and mistakes, among others. Carla’s TED talk, given at TEDWomen 2018, focuses on sponsors, people “who will speak on your behalf in the top-level, closed-door meetings you’re not invited to (yet)”.
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