Career capital is the value of competencies, knowledge and individual personality attributes and other career assets that you have to produce economic value.
In competitive markets, career capital is even more important than usual.
In times of redundancies with supply of workers outstripping demand, the market will be more competitive. If the quality of two candidates is the same, what will differentiate them to be chosen?
What is career capital?
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 the right ‘bait’ to catch the ‘fish’ you want, whether it is a job or a self employed project. Career capital helps you to do this.
What ‘fish’ do you want to catch e.g. employer or clients?
What will your ‘bait’ be?
Why is career capital important?
The market for workers is changing. In future, 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 this new world of work?
Differentiation and visibility on-line is critical.
Career assets
Your career capital is made up of multi-faceted career assets which accrue over time.
Accolades
- Patents
- Awards
- League table rankings e.g. Chambers
- Who’s who listing
Academic
- Higher qualifications e.g. MBA, PHD, MSc/MA
- Links with academia or prestigious universities e.g. guest lecturer
Endorsements
- Client testimonials/employer references
- Peer testimonials/endorsements
Published works
- Articles
- Chapters
- Books
- White papers
Talent
- Multiple mastery areas
- In-demand skills e.g. creativity, big data management
- Languages
- Good emotional intelligence e.g. empathy
Networks
- Professional association involvement
- Membership of respected clubs
- Size & diversity of network
- Quality of network e.g. senior decision makers, high net worths
Events
- Hosting an event
- Speaking at an event
- Conference speaking
- Conference chairing
Charitable
- Pro bono
- Trustee post
Career credibility
- Prestige/trophy employers & clients e.g. FTSE 100
- Senior leadership positions e.g. C-Suite
Miscellaneous
- Personal brand
What would you add? How would you rate your career capital?
10 tips for healthy career capital
- Create a career strategy and ensure your career capital is aligned with it
- Define your ‘fish’ – i.e. target employers or clients
- Make time to think about what ‘bait’ is the best to catch your ‘fish’
- Audit your career capital quarterly and define career asset S.M.A.R.T. goals
- Ensure you have insights about what is important to and valued by your target audience
- Define your personal brand
- Measure stats for your career capital so you can monitor progress
- Monitor your reputation – e.g. set up Google alerts & track your name/brand on Twitter
- Use/monitor LinkedIn stats to evaluate the quality and profile of your network
- When, where and how will I make time to accrue my career capital?
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