Your Worth Is Not Always Growing
It is common for all of us to expect growth in compensation and designation year on year. This is primarily driven with the fact that we think that with more experience in working, we deserve this consistent growth.
While this was almost true in yesteryear’s, the basis of this model is now changing rapidly. Every employee is not a job seeker alone; they are contributors to a business where they are expected to deliver a value that is always higher than what they earn just like any supplier would be expected to deliver. They are part of a business where they are equally responsible for organization’s growth like everyone else.
In such a scenario, the real worth of an employee is no more the experience in the organization but the worth their experience and knowledge brings on the table.
For sake of example, a technology like Hadoop may be a big hit today and the engineers may command high salary. This is primarily because of the supply demand gap and not the skill which commands the high premium. However, over period of time, this technology may become commonplace with supply exceeding the demand. This equalization is bound to happen as the rule of business is to exploit such opportunities due to skill gaps. The premium commended by such skills would then certainly be much lower and the worth of an individual would erode with passing time instead of growing higher.
This principle is only growing stronger with time where age and experience is replacing skill and ability to deliver. In such a scenario where there is a constant challenge of older employees being challenged by younger and better skilled employees, but also rapid aging of technologies and skills with passing time.
My recommendation to every person who is looking for growth is to assess their worth not only today but also assess the risks that may impact their worth negatively in future. Insulating from such risks and taking the role of a pioneer and thought leader is what one must look as one grows.