Are You Leveraging Your Workplace Currency?

It’s important to understand and leverage the currency of our workplace if we want to navigate the professional environment successfully. That’s important because just as different countries have different currencies, each workplace has its distinct medium determining what’s most valued. Currency is the medium that provides authority and access.

What Is Workplace Currency?

In some workplaces, technical mastery reigns supreme, with employees recognized and rewarded for their expertise and problem-solving skills. In others, time is the key currency, with efficiency and productivity being the primary markers of success. However, in a social environment like the Caribbean islands, relationship is the most valuable currency. It can open doors, because success and effectiveness are deeply intertwined with the ability to build and maintain strong interpersonal connections.

Workplace currency is what the dollar is to the economic system. Here are a few other examples.

• Christ-centered leaders know faith is the currency in the kingdom of God. It’s impossible to please God without faith. Faith causes God to move.

• The currency of leadership is influence. The more influence you have, the higher value you are as a leader. The more influence you have, the more rewarding it will be versus leading as an authoritarian.

• In one company I know very well, the ability to assert yourself and engage, like asking questions or providing input, was the currency of choice. In other words, if you appear to disengage or be passive, you will soon be seen as a poor fit in the company.

You can see how different environments have different currencies, the medium given a prevailing value. Similar to your local currency (Dollars, Pesos, Francs, Pounds, and so on), the more of it you have, the higher your value, the more you can accomplish, and the higher the rewards.

Importance of Understanding Workplace Currency

As a 21^st-century leader, it’s crucial we know and understand our workplace currency for various reasons.

• It allows us to focus on what’s most valuable in our workplace. If we know where the value is, we will be able to tailor our skills, behaviors, and priorities to match the expectations of our colleagues and leaders.

• It enables us to develop and strengthen the right skills and expertise. If technical mastery is highly valued in our workplace, investing time and effort into developing our expertise can help us stand out and excel. On the other hand, if relationships are the primary currency, focusing on networking, collaboration, and building strong connections with colleagues can pave the way for success.

• It allows us to increase our chances of career success. We are more likely to be rewarded for meeting and exceeding expectations, including showing up as a “fit” in the company. That’s because we will be more aligned with the prevailing currency.

• It opens doors and gives us access. Just as a country’s currency is what is used to exchange goods, leveraging our workplace currency gives us influence, support, and advocacy.

What is the currency of your company?

Discovering Your Workplace Currency

Identifying your workplace currency requires both observation and engagement. It’s that intangible characteristic that’s beyond your base expectations of knowing your job, working well with others, delivering quality results, and so on.

First, observe the behaviors and talents of the more successful leaders and those considered rising stars in your organization. What behaviors do they have in common? Take note of their skills, qualities, and accomplishments. Are they technical masters? Are they the best salespeople? Do they have outgoing personalities? Are they great at building networks?

Next, armed with your observations, connect with those seen as successful. Engage in open dialogue with your superiors on where they place value and what characteristics they use to determine compatibility in the company. What insights can you gain from understanding where their priorities are and what is most valued in the organization? Develop a hypothesis; an assumed position you can test for validity. When I did this exercise, I quickly saw a pattern pointing me in the direction of our workplace currency.

Finally, validate your hypothesis to see if it holds. Test it against the leaders and those who are highly regarded in the organization. Your assumption will prove correct if you speak to the right people and get the right data.

It is essential to know your workplace currency if you want to thrive in a professional environment. Whether it is technical mastery, influence, or relationships, understanding what is most valued in your workplace allows you to align your efforts, build on your strengths, and position yourself for growth and advancement.

Empowered Leader Reflection

Considering your company, what is the intangible attribute most valued by those in power, is encouraged, and is demonstrated by those considered rising stars? How well do you demonstrate it?

Your turn. What is your workplace currency? Please share in the reply section below.

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