Ever Wonder How Much You are Really Worth?
The most common measures used to value individuals in the workforce revolve around the monetary realities that are in our faces every day:
- Salaries or wages
- Benefits and perks
- Home values
- Savings and retirement funds
- Bonus packages and stock options
- Household and childcare expenses
- Debt and debt to credit ratios
Whether one earns a ridiculously low minumum wage, or 100% more (or ridiculously more than that), or just a comfortable sum in between, most of the above factors have an impact on personal wealth, or lack thereof, and one’s personal sense of value.
One factor rarely discussed openly, if at all, however, is the ripple value (or, conversely, the rip current effect) of people in the workforce, both employees and business owners.
How Does Ripple Value Work?
Ripple value enables others to prosper in addition to oneself. Ripple value helps keep the economy healthy, and society happier in general, by keeping many people employed and allowing more cash to flow freely through the system.
Selling a new car is a first class example of an action with ripple value.
A new car sale generates immediate gain for the salesperson, by way of a commission. The sale also generates a positive ripple throughout the economy by supporting the work of many others who contribute to the design, assembly, marketing, and maintenance of cars:
- Parts manufacturers
- Auto manufacturers
- Advertising and marketing teams
- Media venues that host the advertising
- Dealership owners and personnel
- Banks that finance car purchases
- Auto maintenance companies
- Auto insurance companies
- Fuel companies
- Related stockholders
If one works in sales, marketing or advertising, *calculating ripple is easily done by using mathematical formulas based on sales figures to extrapolate impact beyond company profit.
Those who work for businesses in capacities not directly related to earnings can also ripple by doing their jobs responsibly and providing substantive support and/or guidance to staff.
Those who work in fields not tied to retail, wholesale or manufacturing – hospitality, education, science, law, public service, medicine, or the arts – can ideally create ripple, too.
Hospitality workers provide nourishment and comfort that helps others function more successfully.
Teachers send many capable young people into the economy every single year.
Members of the scientific community research and develop materials, inventions, energy solutions, environmental protections, and scores of other outcomes that can benefit society and the economy.
Members of the legal profession and law enforcement help protect people from crime and exploitation (the rip current, in other words).
Members of the medical, dental and social service communities help keep people healthy.
People who work in public service or the ministries help communities and individuals function, day in and day out.
As for those who work in the arts (for art’s sake), take heart: music, dance, theatre, visual art, literature and film inspire energy, and often new ideas, in most who experience the art.
The Bottom Line of Ripple Value is Simple:
- Well educated people do better work.
- Well cared for people do better work.
- Happy, inspired people do better work.
Better work helps many people prosper and generates a stronger, healthier and more stable economy across the nation, perhaps even the world.
So, what is your ripple value? How many other lives has your work helped to support and improve? Take a moment to think, then add the result to your personal list of the monetary factors that define your overall value in the workforce.
*Laura Mauney calculated her own ripple value by 1) dividing the gross returns she’d earned for a former employer through lead generation by the average monetary payout for each lead; then 2) multiplying the result by the average percent of leads that resulted in sales; then 3) multiplying again by the average value of each sale.
The outcome, to her astonishment, was hundreds of millions of dollars generated in post-lead revenue, a ripple that benefitted the lives of hundreds of others across the nation, almost all of whom she is unlikely to ever meet.