1

RealizingYour

Worth:Negotiati

ngPart 2

Women in Healthcare LeadershipFeb 25, 2014www.wihl.orgAlabama

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

*Our AgendaWhat will we cover in the next fewAMAZING moments together?

• 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

4

• 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

YOU Are an Asset

Learn to Ask & Negotiate

5

• 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…

Analyze YourWorth & Increase

Your Value

Learn to Ask & Negotiate

6

Based Your ASKon Your Brand &

Brand Value

Learn to Ask & Negotiate

• 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 have

case 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 for

our bosses, the company, the staff that reports to us…– None of the ‘others’ affected will be caring for us when we are aged

or paying our kids way through college

• Put others in front of ourselves (AND I MEAN EVERYONE else 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

• 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 because

they 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

Outside-InAssessment of Your

Strengths

Learn to Ask & Negotiate

9

• 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

Lean on Your Personal Board

of Directors

Learn to Ask & Negotiate

10

• Always have an exit plan• This market is a bit like rock climbing- dangerous cliffs

ahead!• Apply for 2 positions a year and build relationships at

other companies• Prepare for a possible exit, even if you do not plan to

use it• If your position was suddenly eliminated, you would be

poised 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 exit

plan or leaving your current employer

An Exit Plan

Learn to Ask & Negotiate

11

• 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 more

years, 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.

How to ASK

Learn to Ask & Negotiate

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 it

in the budget”– I’ve fallen into this trap; that same year a male peer of my

received a raise

– If your current company can’t afford you, find a company that can

13

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

Your Go Forward Plan

Learn to Ask & Negotiate

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

40,000PEOPLE LOG ONTO HER WEBSITE EVERY MONTH5COUNTRIES THAT SELL HER BOOKS2008FIRST BOOK LAUNCHED

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.

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.

Headline*

@BethanyaWill@BethanyHealthIT