I recently enjoyed breakfast with a friend, Karen Rinaldo, who is a famous local artist here in my hometown of Falmouth, MA. Karen is not only an exceptional artist, she is also dedicated to the community and engages in a wide range of volunteer activities from serving on local boards and Town committees to hosting military appreciation events at her gallery.
A Predicament to Resolve
Our conversation turned to an exhibit Karen recently hosted. The exhibit featured a well-known local artist who had recently died. His widow wanted to make his works available to those who knew the artist and would like to have a memento. The widow, knowing nothing of the art market, asked my friend, Karen, to price the exhibit. That led Karen and me to a discussion on value and worth. She explained what a predicament it is when an artist leaves behind a body of work that has immense value to some but might not have much worth to others (i.e. a prospective buyer). That led me to ponder the differences between value and worth—two important words to which I’d never given much thought. And so, this blog emerged.
I’m happy to share my thoughts, but this is a nuanced area. I invite you to consider, as you read, what value and worth mean to you, and how you can use the insights to become an even better leader.
The Meaning of Value and Worth
Moving beyond the world of art (tangible items) to the broader world of work (effort put forth), I believe our value is defined by what we can contribute to the goals and objectives of an organization. It’s our unique perspectives, work ethic, talents, education, experience, innovation, communication—the knowledge, skills, and abilities we bring to the workplace.
On the other hand, worth is what you receive in exchange for the value you provide. It’s the recognition, advancement opportunities, benefits, and of course, the salary or fee. Worth is more about what someone is willing to offer in exchange for the value you provide.
Value and Worth are Connected
As leaders, it’s important we understand the difference—and the connection—between value and worth. Going back to the art exhibit, those works had great value to some, but not much worth to others. Looking at the workplace, the value a person brings must be worth something to the organization. That requires an individual to be in the right job in the organization—the right person in the right place at the right time. There are those who have much value to offer, but they’re not in the right job at the right place and time, so that value isn’t worth as much as the individual may believe.
As a counterpoint, it’s also possible that an individual brings unique value to an organization, but the value is not seen, understood, or appreciated. Thus, a supervisory may not recognize the person’s worth. Good leaders get to know their people to learn what they have to offer that might not be readily perceptible, to learn where they might best fit on a team, and to discover what motivates them to bring their best effort each day.
My leadership philosophy is all about engaged leadership. That’s the kind of leadership that will help connect value and worth.
Look in the mirror: As a team member, consider the value you provide your team…yes, give yourself credit! You must know your own value, or you may settle for less than you’re worth. Now, as the team leader, are those who provide the greatest value being recognized with the highest worth?
Please join me again next time for more on Leading with Character.
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