Career capital is the value of competencies, knowledge and individual personality attributes and other career assets that you have to produce economic value.
Your career assets combined = your career capital; the sum total of your time, talent and potential. You need to consider it in terms of its present and future value when considering your long-term career prospects. If the internet is an ocean full of ‘fish’ i.e opportunities, you need bait to catch the fish you want. Career capital helps you to do this. What ‘fish’ do you want to catch e.g. employer or clients?
Why is career capital important?
In future, in less than 5 years, employers will have reduced permanent headcount and resource up on an as needed basis with individuals and employers rated transparently on-line.
Are you ready for the new world of work; differentiation and visibility on-line?
What does the future look like?
People per hour is a taste of the future. The Sense Network is one example of on-line resourcing. Employer evaluation sites like Glassdoor are a growing trend.
Your career capital is made up of multi-faceted career assets which accrue over time.
• League table rankings e.g. Chambers
• Who’s who listing
• Higher qualifications e.g. MBA, PHD, MSc/MA
• Links with academia or prestigious universities e.g. guest lecturer
• Client testimonials/employer references
• Peer testimonials/endorsements
• White papers
• Multiple mastery areas
• In-demand skills e.g. creativity, big data management
• Good emotional intelligence e.g. empathy
• Professional association involvement
• Membership of elite clubs
• Size & diversity of network
• Quality of network e.g. senior decision makers, high net worths
• Hosting an event
• Speaking at an event
• Conference speaking
• Conference chairing
• Pro bono
• Trustee post
• Prestige/trophy employers & clients e.g. FTSE 100
• Senior leadership positions e.g. C-Suite
• Personal brand
What would you add? How would you rate your career capital?
7 tips for healthy career capital
1. Create a career strategy and ensure your career capital is aligned with it
2. Define your ‘fish’ – i.e. target employers or clients
3. Audit your career capital quarterly and define career asset S.M.A.R.T. goals
4. Ensure you have insights about what is important to and valued by your target audience e.g. who are their heroes/heroines?
5. Measure stats for your career capital so you can monitor progress
6. Monitor your reputation – set up Google alerts & track your name/brand on Twitter
7. Use/monitor LinkedIn stats to evaluate the quality and profile of your network
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