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| Author:
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interbiznet presents the Bugler |
| December 02, 2005 |
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Paranoia Strikes Deep 3
Read John Sumser's Electronic Recruiting News for industry insight and analysis.
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Reveille and Hyperbole
MarketingHire.com is:
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Focused solely on marketing jobs, marketing research jobs, advertising jobs, public relations jobs and sales jobs.
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Contains many marketing jobs that cannot be found on on the big general job sites.
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More than a marketing jobs site, it's a marketing career site with tools, information and expert advice that help you stay competitive and up-to-date.
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Part of the Marketing Career Network, an alliance that includes the American Marketing Association, Business Marketing Association, American Advertising Federation, and Promotion Marketing Association. With MarketingHire.com, you can search and apply for all
positions listed by these associations without cost or membership.
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A division of Marketing Today, providing you access to the latest news on marketing issues, strategies, tactics and trends.
Following the success of greatcare.co.uk, the childcare and nursery job board, over the last three years, the team have launched a new specialist site: greatsocialcare.co.uk
helping agencies and employers find social work and care staff.
According to Dr. Ivan Misner, CEO of the world's largest networking firm, BNI (Business Network International), the goal of networking online is the same as traditional networking: you're trying to form a relationship with somebody you trusts and that trusts
you. "With online networking," says Misner, "there are several ways to develop your word-of-mouth marketing, but it's important to understand that the foundation of making online networking work for you is the same as with any kind of networking--you've got to develop relationships with trusted business
associates." In a recent article in Entrepreneur Magazine, Misner shared his five tips for networking success online:
- Join one or more online networking communities – Actively participate. No matter which community you choose, however, after joining, you need to participate
- Start a blog or write a regular column for a website or e-newsletter. You can start a blog (basically an online diary) on one of the larger blogger sites or online communities; you'll create more buzz for yourself
- Develop an e-mail newsletter for your own company. Create an e-mail database of clients, customers and friends, and send them regular content that drives them to your own website.
- Never forget that online networking is still about developing trust. In order to drive business to your company by word of mouth, you must focus on developing real, personal relationships with people.
- Understand that online networking has its own cultural norms. Many cultural pretenses don't exist online, however, and people tend to be much more blunt when responding online than in a face-to-face meeting. With online networking, people feel it's
easier to be more direct.
BNI is a referral networking organization, which at last count had over 4,000 individual chapters in 25 countries worldwide.
A free white paper from H3.com discusses the new phenomenon of talent scout networks.
And the success that HR directors are having with them.
To get a copy,
visit H3.com.
- Learn how to cultivate and maintain a talent scout network.
- Learn how they're helping HR work more efficiently with hiring managers.
- Learn how they're helping to slash recruiting costs.
At
 H3.com
you can also experiment with the system by launching a risk-free search.
Deck Chairs
Mary Ellen Gornick has been appointed to co-chair the Employee Assistance Professionals Association's (EAPA) Work-Life Task Force.
You Should Know
Australia:
- In the market for a raise A GLOBAL shortage of creative directors, designers and marketers is putting pressure on the Australian industry to pay more for marketing and advertising talent. Greg Savage, recently appointed
chief executive of global recruitment company Aquent, warns that pay scales are likely to spiral in coming years as overseas competitors strip talent from Australia. China, the US and emerging markets in eastern Europe are all competing for staff, leaving the local advertising and marketing
industry vulnerable. "A lot of people think skills shortages are cyclical, but I think this talent shortage is actually long term," Savage says. "There are a lot of macro-economic reasons, like there have not been enough trained people, the industry has not attracted enough people." (Australian)
- IT security professionals in demand in 2006 Unprecedented demand for IT security professionals has employers fighting to retain talent. This is particularly true for Certified Information Systems Security Professionals (CISSP),
according to the latest market trends report from Ambition. In fact, certified IT workers are in such high demand that some employers have stopped including them in staff development programs fearing they will be better prepared to walk out the door, Ambition technology director Jane Bianchini
said. (ComputerWorld)
- Number of women in workforce up: report The number of women slogging it out in the Australian workforce has skyrocketed, while rates for men have dropped, a new report has revealed. (TheAge)
Ghana:
- Brain drain still a problem... As Ghana battles to retain doctors Available statistics indicate that 12,365 health professionals left the country in search of greener pastures between the year 1993 and 2002. Out of
this professionals were 630 medical doctors, 410 pharmacists, 83 laboratory technicians and 11,325 nurses including auxiliaries, all trained with the country's already limited resources. In the year 2002 alone, the country lost 70 doctors, 77 pharmacists and 214 nurses to the western world. (Ghanian
Chronicle)
Global:
- A Recipe for Newspaper Survival in the Internet Age I've spent seven years working as a writer and editor for Slashdot's parent company. During this time I've been to at least a dozen mainstream journalists' and editors'
conferences where the most-asked question was, "How do we adapt to the Internet?" You'd think, with all the smart people working for newspapers, that by now most of them would have figured out how to use the Internet effectively enough that it would produce a significant percentage of their profits. But
they haven't. In this essay I will tell you why they've failed to adapt, and what they must do if they want to survive in a world where the Internet dominates the news business. (Slashdot)
- 10th Annual Salary Survey: Moving On Up After a flat year, salaries for Microsoft Certified Professionals have gone up, as this year's 10th Annual Salary Survey shows. (MCPMag)
- How HR Works To Get The Job Done This article provides job seekers with an understanding of how human resources (HR) is the hub of an organization and how it is structured. It will also help you to appreciate the job screening
process as well as each area of HR if you are considering human resources as your chosen field of occupation. (WebProNews)
- What to Do (and Not Do) When Emailing Recruiters With many job postings now requiring candidates to apply via email, first impressions are made not with a handshake but with words on a computer screen. How formal should your
first email to a recruiter be? (IMDiversity)
- Recruiting! One day while walking down the street a highly successful HR Director was tragically hit by a bus and she died. Her soul arrived up in heaven where she was met at the Pearly Gates by St. Peter himself."Welcome
to Heaven," said St. Peter. "Before you get settled in though, it seems we have a problem. You see, strangely enough, we`ve never once had a Human Resources Director make it this far and we`re not really sure what to do with you." (Jokes)
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"'Interviewing With an Intelligence Agency (or, A Funny thing Happened on the Way to Fort Meade)' is a humorous and
entertaining account of one man's recent experience seeking employment with the National Security Agency (NSA). But this story, newly posted to the Federation of American Scientists website, is also
one with a serious message. Written under the pseudonym 'Ralph J. Perro,' it includes discussion of the job interview, psychological testing, polygraph, and background investigation. It will be of interest to anyone contemplating employment with a federal intelligence agency." (Slashdot)
- Soapbox: ARGs and How to Appeal to Female Gamers How to attract women to gaming is one of the trendy issues du jour. The business keeps examining and re-examining the same roadmap of suggestions and success stories: Women
play The Sims. Women play puzzle games. Women play games designed by female developers. Women like cooperative gameplay. By now, there is a broad consensus on how to get where we want to go, but a certain hesitancy about following through. Nobody wants to be the risk-taker here. Not only is there a large
amount of money at stake, but I'm sure some companies are privately afraid of losing valued developers and their traditional core audience if they "go soft and make girl games." (Gamalan)
- Craigslist the King of Classifieds While Craig Newmark would undoubtedly bristle at that characterization, the network of sites that bears his name is the undisputed king of online classifieds (not counting eBay). According
to a report put out by Pew, using comScore data, traffic to classifieds oriented Web sites has grown 80% in the past year (much greater than the 7% growth of the total US Internet population). Craigslist in particular had almost 9 million uniques in September. The top online classifieds sites (traffic
volume) in September 2005 were the following:
- CRAIGSLIST.ORG
- Trader Publishing Company
- CARS.COM
- APARTMENTS.COM
- Abracat Propert
- HOMESCAPE.COM
- PUPPYDOGWEB.COM
- LIVEDEAL.COM
- Tribe Networks, Inc.
- RegionalHelpWanted.com Sites
- Yahoo! Classifieds
- USCITY.NET
- BACKPAGE.COM
- MySpace Classifieds
- HOOBLY.COM
(Search Engine Journal)
Kenya:
- Nepad urges Kenya to stem brain drain New Partnership for Africa's Development (Nepad) has asked Kenya to control the influx of expatriates into the country to stem brain drain. Nepad chief executive Grace Ongile urged the Government to be "strict" in allowing expatriates to take
up jobs that could be done by locals. She said this was a way of attracting and motivating "the brightest of brains" willing to work in the developed world. (TheStandard)
Latvia:
- Labor shortage crisis becomes more acute Two media reports last week highlighted what is perhaps the Baltics' – particularly Lithuania's – most acute economic challenge: overcoming the labor shortage. The Lietuvos Rytas daily reported that more foreign recruitment agencies were launching
operations in Lithuania, while Vilniaus Vingis, one of the leading manufacturers of electronic components in the European Union, was struggling to find workers to fill a labor shortage in its plant. (Baltic Times)
South Africa:
- Online recruitment survey findings released The Online Recruitment Corporate Survey 2005 by CareerJunction, with HR directors and managers from 60 of the top 200 companies (as defined by the Financial Mail) participating, has revealed that approximately two-thirds (68.97%) believe the
internet is an effective recruitment channel and almost half (46.81%) are using it as part of their overall recruitment strategy. (Recruitment Community of South Africa)
UK:
- Bonus misery set to depress the workforce Most UK employees are likely to be disappointed by their annual bonus, new research suggests. In contrast to the widely reported bumper pay-outs expected in the City, research
conducted by reward consultancy Innecto found that 19% of HR directors said their company definitely wouldn't be awarding a bonus this year and 40% were still unsure. Only 41% of HR directors were sure there would be staff bonuses. (Personnel
Today)
US:
- Companies Attempt to Retain Employees as They Take Flight for New Career
Opportunities Three-quarters of Employees Looking for New Jobs, Says New Survey Seventy-six percent of employees are looking for new
employment opportunities, according to the 2005 U.S. Job Recovery and Retention Survey released by the Society for Human Resource Management (SHRM) and CareerJournal.com. Sixty-five percent of HR professionals indicated they were concerned about the voluntary resignations at their organizations. To
prevent a mass exodus, almost half of the organizations surveyed are implementing special retention processes to keep their employees. (MarketingHire)
Survey Sez:
Hewitt Study Highlights Squeeze on Retirement Savings; Trends Demand Education and Action
A recent study by Hewitt Associates, a global human resources services firm, found that employees who do not contribute to their 401(k) plans can expect to replace as little as 52 percent of their annual preretirement income when they retire--well short of an
average retiree's income needs.
This is a sobering figure, particularly when the majority of employees who don't contribute to their 401(k) plan may need to replace as much as 125 percent of their preretirement pay to meet their income and medical needs when they retire. In other words,
employees' retirement income could fall short of their projected needs by as much as 73 percentage points. Nearly a third of employees (30 percent) in Hewitt's study indicated they do not contribute to their 401(k)s.
In contrast, employees who do contribute to their company's 401(k) plan can expect to replace nearly all--98 percent--of their annual preretirement income, through a combination of 401(k), pension and Social Security income.
"People's retirement income levels are very quickly eroded if they aren't actively saving for retirement--and that's true even if workers have access to income from pension plans and are covered by rich retiree medical plans," said Lori Lucas, director of Hewitt's
participant research.
Hewitt's study, "Total Retirement Income at Large Companies: The Real Deal," evaluated more than 65 large U.S. employers and 1.8 million employees, assessing projected retirement income adequacy given actual savings patterns.
401(k) Contributors Need to Step Up Savings
Hewitt's study also raised some concerns for employees who currently contribute to their company 401(k) plan. If their company offers a 401(k) plan, without the added support of a pension plan or retiree medical subsidy, they may not be on track for retirement. In
fact, even if they are actively contributing to their 401(k), they could face a retirement income shortfall of nearly 27 percentage points.
"Pension cost volatility and soaring health care costs are putting more companies in a situation where they can only afford to offer 401(k) plans as their retirement vehicle, yet many of their workers are not responding by stepping up their savings in these plans,"
said Allen Steinberg, a retirement and financial management consultant with Hewitt.
The good news is that even modest changes in savings behavior can help employees close the retirement savings gap. For example, an average employee who contributes to his or her 401(k), but doesn't have a pension plan or retiree medical subsidy, can reduce his or
her retirement income shortfall to less than 5 percentage points by retiring two years later (at age 67) and contributing 2 percent more per year to his or her 401(k) than the average 8 percent of pay.
Medical Costs Raise Income Needs
Hewitt's study assumes that an "adequate" retirement income supports a standard of living in retirement that is consistent with income levels when people are actively employed. Though retirees may expect to pay less in taxes and will no longer need to earmark a
portion of their income for savings, they will need sufficient income to cover inflation and medical costs during their retirement.
"The typical employee pays 25 percent of his or her personal health care costs, such as premiums, while the typical retiree pays 50 to 100 percent. For low-wage workers without subsidized retiree medical coverage, medical costs can increase the income required for
retirement by a substantial amount," said Lucas. "We think it's critical to raise awareness among employees about the escalating need to save. Companies can help by offering features in their 401(k) plans that encourage employees to save more--for example, offering an option to automatically increase
contribution levels over time."
Early Retirement Moves out of Reach
Hewitt's study indicates that most employees cannot afford to retire before the age of Medicare eligibility (age 65). For employees currently contributing to their 401(k) plan, early retirement can mean a retirement income shortfall of as much as 31 percentage
points relative to what such employees may need in retirement. For employees who fail to contribute, early retirement can produce a shortfall as high as 88 percentage points.
"Projected retirement income is lower with early retirement--while projected retirement needs are greater due to a longer lifespan and costly medical coverage prior to Medicare eligibility. This just means that many people will need to consider retiring later,
rather than earlier," stated Steinberg. "Alternatives such as phased retirement are likely to become increasingly attractive to employees."
Strategies to Strengthen Savings
The longer employees can save additional funds, the greater the impact on their retirement income. For employees younger than 25 who contribute to their 401(k) plans, saving an additional 2 percent of pay in their 401(k) annually can boost income replacement levels
by more than 17 percentage points. Mid-career employees can boost income replacement levels by 4 to 6 percentage points, moving closer to an adequate retirement income.
In addition, deferring retirement by two years increases employees' retirement income levels by approximately 14 percentage points, regardless of whether they contribute to their 401(k). However, many employees retire earlier than expected, due to illness or job
layoffs. Beyond saving more and retiring later, employees should consider the following strategies to help them save for retirement.
-- Improve investment diversification. Heavy concentrations in company stock can lead to devastating losses in 401(k) portfolios, yet the average 25-year-old with company stock has 43 percent of his or her 401(k) balance in company stock. Those with no company
stock tend to have less equity exposure than might be generally recommended. By improving diversification or assuming more risk levels, a 25-year-old can improve his or her retirement income replacement by as much as 20 to 25 percentage points. Third-party investment advice, investment guidance and premixed
portfolios also can help.
-- Avoid high fees, when possible. Retail mutual funds charge, on average, more than two and a half times the expenses of privately managed, commingled funds. When rolling over money, consider the fact that investing in retail mutual funds outside of plan-provided
funds can reduce retirement income by nearly one-fifth over the long term. Leaving assets in such mutual funds after retirement exacerbates savings erosion.
-- Preserve 401(k) savings in job transitions. Hewitt's study finds that mid- and late-career hires may be positioned less advantageously for retirement than employees with a full career of participation in their current employer's retirement programs--even when
outside assets such as prior 401(k)s and IRAs are taken into account. This may be attributable to the tendency of many workers to cash out their 401(k) savings upon termination rather than preserving these assets for retirement. Employees should preserve even small balances for retirement, particularly when
job changes are frequent.
-- Save early, save often. More than half (54 percent) of employees in their 20s do not actively save in their 401(k) plans, which causes them to lose the value of their 401(k) savings that compounds over time. Employees should build their retirement nest egg by
saving as soon and as much as possible.
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