What is the lifetime value of the skill/training you seek?

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What is the lifetime value of the skill/training you seek?

What is the lifetime value of the skill/training you seek? 5548 3699 Heidi McLean

In today’s ultra-competitive environment, learning skills that are in high demand can up your game and make you ultra-hirable. But what if it’s going to require some sacrifice on your part, like money, time, and energy?

It’s easy to think about the short term cost, but without considering long-term effects, you don’t get the full picture.

Here are some considerations to help you decide if investing in learning a new skill is worth it:

Will this skill make you more hirable/profitable?

Consider whether the training complements your line of work and existing skills sets. For example, if you’re a graphic designer and a wiz kid at Photoshop, you might consider learning your way around Adobe Illustrator. Both are great design tools, but the latter is math-based, allowing you to scale your pieces infinitely without losing any quality. Being well-versed in both allows you to solve more client problems.

Along those lines, consider the questions clients ask frequently. If you find they’re asking for the same thing over and over, you know you’re onto something. The equation is simple: solve more of their problems and you’ll get more of their business.

Think beyond the next month or quarter and into the bigger picture and where your industry is going. Can you be on the front end of an upcoming trend or one in increasing demand? Videographers may want to invest in learning drone skills, for example.

In addition to making you able to solve more problems for clients, adding new programs and platforms to your repertoire sometimes directly adds to your hourly value. If you’re a skilled editor who can also tackle basic motion design and Visual FX with After Effects or sound design with Adobe Audition, you may be able to charge more.     

The more skills you have that apply directly to the job you want or are applying for, the more valuable you are to the employer and the more money you are therefore worth.

A note on the intangible  

Being a Jack or Jill of all trades can be useful, but there’s something to be said for mastering your niche and staying in one focused, clear lane. So if you’re thinking about adding a skill that broadens what you can offer but takes a lot of time or energy away from what you do best, you may consider redirecting resources to your core strengths instead.

There are always the intangible benefits to consider, too. In addition to the financial benefits a new skill may bring you, consider the intangible value. Will it make you more knowledgeable and confident or just plain better at your job? Will it keep you mentally stimulated and therefore, head off burnoff? If so, you may want to invest in learning something new even if seemingly doesn’t relate to your core business at all. You’ll be surprised how much you’ll end up pulling some oddball skill or information out of your hat.  

Bottom Line

Learning some of the most marketable skills of 2018 will give you an edge in the marketplace and thinking about training opportunities in terms of lifetime value can make the decision clearer.

 

About PayReel

At PayReel, we minimize the time and effort it takes to get you ready for your project, make sure you get paid quick and easy and have Client Relationship Managers on call around the clock to answer your questions. All you have to do is call 303-526-4900 or email us. The PayReel team makes event payroll easier, faster, and seamless.

The next time you work an event or a production, tell your supervisor you love working with the PayReel team.

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