What Are Your Skills Worth?

What exactly are your skills worth? Have you ever sat down and asked yourself that question?

Perhaps it is best to start off with looking at the three different skills types. The human “soft” skills are those you are born with and are influenced in your environment and education. Also called interpersonal skills, they include communication, teamwork, and problem-solving abilities, facilitating effective interactions with others and so on. 

Then are the hard skills, skills that you actively acquire to prepare for your career, role or promotion, these are gained by experience and constant practice. They tend to be job-specific, quantifiable, teachable skills with practical abilities.

Finally there are transferable skills which are versatile skills that can be applied across various roles and industries. Examples include communication, teamwork, leadership, problem-solving, adaptability, and critical thinking.

In the past it was really all about the hard skills and the duration of which you were invested in those skills that lead to the value of compensation you were likely to get. As the charge for talent intensified, the demand for skills increased and so this led to a multiple effect on value.

Now, we enter a new era where AI is really doing a lot of the heavy lifting where previously hard skills were required and so the emphasis is now shifting to human skills and transferable skills and the impact they can have on a company. But even with all that, many are still afraid that AI might do more harm than good.

So how important is it to evaluate your Skills in these diverse times, you might ask? Well, knowing your skills across all areas both of those you have acquired and are in demand will show you where the gaps are if any and ensure you are maximizing your potential in your current role and the next.

Here are just a few approaches you can take.

1. Skills Self-Assessment: Start by reflecting on your skills and abilities. What are you good at? What do you enjoy doing? Consider all skill categories.
2. Set Skills Goals: Define your short-term and long-term goals. What do you want to achieve personally and professionally? Your skills should align with these goals.
3. Market Research on Skills: Research the job market in your field. What skills are in demand? Which ones are valued by employers or clients? This will help you focus on skills that have real value.
4. Seek Skills Feedback: Ask for feedback from mentors, colleagues, or supervisors. They can provide insights into your strengths and areas where you can improve.
5. Continuous Learning: Invest in learning and development. Take courses, attend workshops, and stay updated in your field. Continuous improvement keeps your skills relevant.
6. Skills Passport: Showcase your Skills to the best of your ability and have them authenticated along the way by educational providers and employers
7. Salary Skills Research:If you’re in a job market, research salary ranges for positions that require your skills. This can help you negotiate fair compensation. If you can work remote audit internationally.
8. Anticipate Skills Change: Pay attention to emerging trends and disruptions in your industry. Being proactive in adapting to change can give you a competitive edge.

Your skills are your most valuable intangible asset so they are really worth tracking, investing in, measuring and setting goals for. Being open to adapting new skill sets as industries and technologies evolve is a way to increase their value. Don’t forget to value skills you’re passionate about and what you ultimately love. Pursuing what you love can lead to a more fulfilling career.  Put in mind that skill valuation is an ongoing process which should be performed regularly to make sure you are on the right track if you aim at career development.