What if Labor Day Were Called Personal Profit Center Optimization Day

Here’s a bonus post for the week from an idea I edited out from yesterday’s blog, “Labor is Obsolete”

To our employers, we are a costs. Sure there is an expectation that our contributions either create something for which our companies can charge, or directly generating revenue. However, paying the employees who make these contributions this is part of the cost – “cost of goods sold (COGS)” or “cost of sales (COS)”. The rest of us are “overhead” necessary for compliance, quality of operations, or increasing efficiency. The organizational level where revenue is booked against the employee costs to produce the results are called “profit centers.”

Now, since the future of work see more of us working as entrepreneurial freelancers, what would happen if we took this line of thinking into our own lives? How are we personally profiting from our jobs and careers? I wouldn’t look at it as just a financial profit or loss measurement. Certainly finances are vitally important, but for many people it’s not sustainable if other motivating factors are not in place.

Similar to how I recently wrote that financial profits are not enough for companies anymore, we need a clear understanding of how our jobs and careers contribute to growth of our own personal wealth. To do this effectively we need a personal wealth balance sheet. Think about the profits you gain in your life along additional categories of personal wealth and you can observe how your job and career benefits your life.

treasurechest

Personal Wealth is far more than just accumulation of financial assets.
[SOURCE] (c) Phil Curiant, used according to Creative Commons License

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