Determine Your Hourly Rate.
How high you rise is largely determined by how high you want to climb.
As an employee of Human Resources, I always wonder as to why some people enjoy better emoluments, perks, perquisites as compared to the others. They are being paid exorbitantly, valued very high & also treated princely. What is so special about these people? Why we could not decide to earn a lac per month & 12 Lacs per annum. I got an answer from one of my favorite author BRIAN TRACY. I would like to put it in my own language to all my friends the way I have understood. Read on. . . . . .
The starting point of great success in getting a bigger emolument is to decide how much you want to earn each year and then to decide how much you have to contribute in terms of services to earn that amount.
Break down your annual income goals into monthly goals, weekly goals and even daily goals. Divide your annual income goals by the number 250, which represents the number of working days in an average year, to determine how much you want to earn each day.
Then divide your daily earning goal by eight hours to determine how much you want to earn per hour. Once you have determined your desired hourly rate, from that moment forward, do only those tasks that will pay you that amount. Do not do anything that does not pay you the amount you want to earn.
For example, if you wanted to earn 12 Lacs per year, dividing the number by 250 would give you 4800 per year. When you divide 4800 by eight hours, you arrive at 600 per hour. This is your desired hourly rate. If you earn 600 per hour, eight hours per day, 250 days per year, you will definitely hit your target of 12 Lacs for the year.
From this moment onward, refuse to do anything that would not pay 600 per hour to do. Do not waste your time over the telephone, making photo copies, browsing through mails, reading newspapers, drinking coffee, chatting with friends, and family while on duty. These activities will never ever pay 600 per hour. Be strict with yourself. Practice self-discipline every moment. Use your time carefully hour by hour, throughout the working day. Do only those things that can pay you your desired hourly rate.
THE MORE DISCIPLINED YOU ARE WITH YOURSELF, THE EASIER LIFE WILL BE ON YOU. THE STRICTER YOU ARE WITH YOURSELF, THE GENTLER LIFE WILL BE ON YOU. WHEN YOU GET STRONGER WITH YOURSELF AND REIN IN ALL THOSE WEAKER IMPULSES AND HAVE THE SELF-DISCIPLINE TO DO WHAT’S RIGHT-EVERY TIME-YOUR LIFE IS CERTAIN TO TURN OUT GREAT. – By ROBIN SHARMA.
Most top people who earn big salary, emoluments, perks tend to be “loners” in that they find, in order to keep themselves positive, motivated, focused on their work, they must stay away from other people who are not as motivated and as focused as they are. You must also discipline in the same way. If you want to reach at the top, you must be around other top people.
The tighter and more accurate your calculations regarding your income, or any other area, the better and faster you can improve in each one of them. For example, most people think in terms of monthly and annual salary. This is hard to analyze and increase. Conversely, the high performer thinks in terms of hourly rate, which is amenable to improvements on a minute-to-minute basis.
Since you are the president of your own personal services corporation, you should view yourself as being on your own payroll. Imagine you are paying yourself by the hour. Would you be paying the kind of salary to yourself which you are getting from your organization if you were the president of your organization? Be just as demanding of yourself as you would be of some else who was working with you. Refuse to do anything that doesn’t pay your desired hourly rate.
Determine exactly how much you earn each hour and what it is you do to earn that amount. What do you have to do to increase your hourly rate in the weeks and months ahead? Put these questions to yourself from time to time. The more you could imagine and answer yourself clearly, the more you could utilize your worth.
I believe the strategy given by Brian Tracy completely & thought of sharing with my friends and colleagues.
The author of this article is Mr. Iyer Subramanian, Joint Director-HR, Bombay Chamber of Commerce and Industry. He could be contacted on his cell: 9892523163. His e mail is: iyerpdkgnm@yahoo.com
My name is Iyer Subramanian. My qualifications are as under. Bachelor of Arts, Diploma in Personnel Management and Industrial Relations, Diploma in Labor Laws & Labor Welfare, Diploma in HRM, Diploma in Training & Development. I have around 25 years of experience in HR and write for Express Hospitality, Hospitalitybiz, Business Manager regularly on HR. Article Source:http://www.articlesbase.com/human-resources-articles/determine-your-hourly-rate-1171667.html
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