Personal Professional Assets

Certainly the organization must support financially and in other ways the development and maintenance of individual skills and knowledge. However, the primary responsibility for maintaining expertise lies with the individual. The topic of managing personal professional assets is discussed in detail in Chapter 2. 

Managing Personal Professional Assets Building Individual Equity 59... 

Although the true value of personal professional assets defies quantification, it nevertheless is very real. Furthermore, the value of professional assets, even if narrowly... 

If an annual accounting of your personal professional assets reveals a loss or no increase in value, you have experienced a personally devastating stock market crash. You have lost a year of growth and increased contribution, neither of which can ever be redone or perhaps regained. As a result of mismanagement of your professional personal equity, you have failed yourself, dependents, your employer, your clients, your profession, and society. 

You need a proactive program of formal and informal activities to maintain individual competence and contribute to corporate competence. Technical services that fall below the standard of care may be deemed neghgent and result in personal and organizational liability. Your and your employer s best interests require that you remain current and competent in your areas of technical and non-technical specialization. And that responsibility lies primarily with you. Refer to the Chapter 2 section titled Managing Personal Professional Assets Building Individual Equity. ... 

If you name a personal acquaintance or relative as trustee of a living trust, the fee will be whatever is agreed upon—often no fee at all. Professional trustees, however, receive fees that are either a set amount or a percent of the trust s assets. Fees should be discussed and negotiated ahead of time. 

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