Last week I headed to the Bloomsbury Hotel for the ‘Know Your Worth’ Panel, hosted by The Women’s Chapter. The panel was chaired by Telegraph Women’s Editor Claire Cohen, with an impressive panel of strong women. Speaking on the night were serial-entrepreneur Emma Sinclair, MBE, who is the youngest person to have ever floated a business on the London Stock Exchange. Ann Francke, the CEO of the Chartered Management Institute – who had some incredible data to share on the gender gap, glass ceiling and women in management roles. And Hannah Ford, partner and employment law specialist at Stephens & Bolton.
The topic for the evening was our worth. How do we evaluate it, and how to we communicate it?
Here were my key takeaways from the evening
- A recent survey by the CMI found that male CEOs get bonuses up to 6 times the size of those female CEOs.
- When you negotiate, read the room, and play to your strengths. Use your empathy and emotional intelligence, and get used to using the ‘pregnant pause’ … it’s a strong tool! See out the silences.
- Don’t apologise! Men don’t. Be firm. Don’t use questions in your words!
- Keep an achievements log – whether you work for someone else or for yourself. If you work for someone else, quantify your successes and relate them to company strategy, so that when the topic of a pay rise comes up, you can justify it with detailed notes.
- Channel your inner Beyonce! If she needs an alter ego – Sasha Fierce – to go up on stage, then we’re all allowed to be nervous from time to time! We are all human, we are all fragile, and sometimes we are our own worst enemies!
- When you’re feeling low, and questioning your own worth pretend that your best friend has achieved all the things you’ve achieved. How would you speak to her? How would you advocate for her?
- Surround yourself with the right people – your tribe
- Stand up for your own values, and if the situation doesn’t support those values, knowing your worth can mean getting out of the situation.
- Don’t undercharge. You will be treated as someone who is not worth as much. People value you based on how you value yourself. There will always be someone doing something for free. That doesn’t mean there aren’t people willing to pay you.
- Sometimes you have to lose a battle to win a war. If you are negotiating and something isn’t going well, focus on another area of the negotiation.
Want some more business advice? Check out Roberta Lucca’s advice.