I think you would agree that it would be a safe bet to say that most people want to earn more money. Most people want to earn more and enjoy the life better finances bring with it. This is a safe assumption because, let’s face it, most people feel they should be getting more. If you feel this way in terms of your work, you should focus on getting promoted more. It’s fairly straightforward-in most organizations, every promotion comes with a pay increase. Focus on getting promoted more often.

Your Mindset Dictates How Far Your Rise In Your Job

Sadly, when it comes to the issue of work promotion, most people are laboring from misconceptions. They think promotions should be given to them just because they ‘put in the time’ at work and by sheer seniority, they should get what they feel is coming to them. Others have an even more damaging mentality-they think that just because they have a college degree or went to the right school, they should start at the top or near the top. For this group, working from the bottom up is not only an unpleasant option but downright insulting as well.

The Iron Economics Of Job Promotions

The truth is, most employers will only promote you if the value of your work outweighs not just your current cost but your cost if you get promoted. This should not be surprising since most businesses, after all, are profit-driven enterprises. They exist in the shadow of the iron law of profits-to generate a profit, revenue must exceed costs. Analyzing your value as an employee in this context, for you to get promoted, you have to create a profit for your employer.

Accordingly, the value of your work must exceed your cost. If that is the case, the business will look at you as an asset. If the reverse were true-the company is making less money from your work than the amount of resource it spends to keep you employed-you’ll soon be out of a job. Sadly, too many people fail to realize this. They think they are doing the company a favor just by working. Predictably, they only do enough work just to get by. As a result, most of the people that think this way don’t get promoted and many feel ‘stuck’ at their job.

Make Employer Economics Work For You

If you don’t want to be like your co-workers who feel ‘stuck’, you only have to remember a very simple piece of advice: always produce much more value than the amount of money your company spends on you. This means you have to put your heart into your work-produce quality, work faster, work more efficiently, take care of the customer, treat the business as your own.

In other words, constantly seek to produce value instead of just ‘doing time’ at your work. If you have the mindset of a person who adds value, you will be promoted and be given more responsibilities. You will continue to soar as far as your personal commitment to excellence and quality will take you. If you feel you are just ‘doing time’, your whole adult working life will be spent in mediocrity.