People mistakenly carry the 'I work more hours = I get more money' believe without understanding leverage, and I don't mean that in the abstract finance sense.
•When you're working an hourly wage your only leverage is your hourly rate so it makes sense that if you want double money you work double hours. This makes sense here because your leverage is very tiny and you have no responsibility for anything except how long you work. This mentality leads to meddling later on.
•When you are actually in charge of a system your maximum leverage is changing the process, not working more hours. You fix one step in an hour and suddenly save the company hundreds of hours, you work hundreds of hours and lose the company thousands of hours.
All that depends on the system you’re working under and what kind of work you are doing.
If you’re paid on a production basis instead of an hourly basis, then that of course gives the manufacturing company more capacity to take on more work from clients. However, for other sectors like construction, maintenance, and renovation; the MEP work is just endless and always demanding of skilled labor.
At the end of the day, the skilled laborer is worthy of his/her wages.
People need to dig into this more. Especially in this day and age. Back in the 90s, I had a boss who said if I could do the week’s work (5 days) in 3, more power to me. He didn’t mean it of course, he’d just give me more work to do - because I was employed on the hourly basis. This means both the business and the individual were losing. The reality should always be the output, or outcome. But modern management won’t allow that. Got to work the “40 hours”. But as soon as people realise their true value, things can change. Both for the company and the individual.
People mistakenly carry the 'I work more hours = I get more money' believe without understanding leverage, and I don't mean that in the abstract finance sense.
•When you're working an hourly wage your only leverage is your hourly rate so it makes sense that if you want double money you work double hours. This makes sense here because your leverage is very tiny and you have no responsibility for anything except how long you work. This mentality leads to meddling later on.
•When you are actually in charge of a system your maximum leverage is changing the process, not working more hours. You fix one step in an hour and suddenly save the company hundreds of hours, you work hundreds of hours and lose the company thousands of hours.
All that depends on the system you’re working under and what kind of work you are doing.
If you’re paid on a production basis instead of an hourly basis, then that of course gives the manufacturing company more capacity to take on more work from clients. However, for other sectors like construction, maintenance, and renovation; the MEP work is just endless and always demanding of skilled labor.
At the end of the day, the skilled laborer is worthy of his/her wages.
People need to dig into this more. Especially in this day and age. Back in the 90s, I had a boss who said if I could do the week’s work (5 days) in 3, more power to me. He didn’t mean it of course, he’d just give me more work to do - because I was employed on the hourly basis. This means both the business and the individual were losing. The reality should always be the output, or outcome. But modern management won’t allow that. Got to work the “40 hours”. But as soon as people realise their true value, things can change. Both for the company and the individual.