Thanks for tuning back in to part 2 of the three part series.
This time, let’s consider the claim that, “You’re too Expensive!” (Your wage could support three new employees.)
Let’s talk value. Begin by understanding and accepting your value. Convince yourself, and then convey this confidence to the interviewer. You will bring additional value of your worth to their company based on your extensive experience and skill set. This is where taking a suggestion from commercial branding can help.
Most people in the job market (regardless of age) are indistinguishable from other applicants. To the interviewer, one candidate can begin to look very similar to the next. A product that is indistinguishable must compete based on price, thus the idea of “being too expensive”. If an older, more expensive product is competing with a product younger and less expensive, it is easy to select the less expensive product (worker). Conversely, brands that develop a clear differentiation in the marketplace are sought after, selected and purchased based on their unique, perceived value.
Consider the coffee industry as an example. You would likely never pay $4.00 for a cup of coffee purchased from a 7 Eleven store, but consumers are willing to pay a much higher cost for Starbucks coffee because of the experience associated with the café and the differentiated coffee products (lattes, mochas, etc., in neighborhood venues). It’s not coffee, it’s Starbucks.
If a firm sells a similar product, it has pricing power over its product or service if the consumer perceives extra value compared to similar products or services of competitors.
If you differentiate yourself in the marketplace, you can compete for jobs based on value (not price).
Stayed tuned next time for “Your education is outdated! You can’t keep up with new technologies.”