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Fewer Workers, Fewer Jobs
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Reveille and Hyperbole:
Salary.com files for IPO
Cytiva Software Inc. (CRX: TSX:V), a
leading provider of recruiting software solutions, recently announced record 3rd
quarter results to the financial community. For the period ending September 30,
2006, Cytiva announced several milestones which signal great things to come for
the emerging leader in mid market talent acquisition software and its
shareholdersHighlights of Cytiva's Q3 06 results were: YTD sales up 120% over
the same period last year 31%
Revenue growth Record
quarter for new contract value (over $1 million)
Fourth consecutive
profitable quarter Total
clients over 160 SonicRecruit
handling over 2.5 million candidate resumes
96% renewal rate for
trailing quarter Named
to the Software Magazine Software 500
LiveDeal.com, one of the nation's leading free local
online classifieds sites, has formed a relationship with Job search engine
SimplyHired. Through the alliance, all
five million job listings on SimplyHired.com will be available on the LiveDeal
site. Employers and job seekers can also post listings independently on
LiveDeal.com.
You Should Know:
Retirement:
When money isn't everything
Stimulation and flexibility often trump pay when 'retirees' look for jobs
Not only can he present cases to Surrogate's Court "like the court expects them
to be presented," but he also helps younger associates. Whatever advice he
gives, "it makes me feel worthwhile," he said, "I'm using all this experience,
and I'm putting it to use helping other people." It doesn't hurt that when it
comes to compensation, Petraglia is one of the lucky few whose retirement job is
more lucrative than his former career. "I come from the public sector. It
doesn't pay what the private sector does," he said. "I love it - collecting a
pension and working," he said. "It's the best of both worlds." (Newsday)
A different take on retirement
Retirement isn't what it used to be, and some of that is a good thing. Not so
long ago, you retired and were put out to the proverbial pasture. You were seen
as all done, work-wise. Now retirement is viewed merely as a phase of
life, and people sometimes develop whole new careers after retiring. A few weeks
ago, we wrote about volunteer possibilities (and you're still writing to tell us
how rewarding that is - thanks). Now we're turning to the paying side of
retirement. (Newsday)
Small business finding big bonus in boomers
What do George W. Bush and Bill Clinton, Dolly Parton and Cher, Patty Duke and
Jimmy Buffett have in common?
They each turned 60 this year. They're not alone. In 2006, the leading edge of
the "baby boomer" generation reached the milestone, and boomers represent a
whopping 26 percent of the population, according to the Census Bureau. That's a
huge number - 78.2 million Americans - and it's time you started thinking about
how you can target boomers both as customers and as employees for your business.
(Desert
Sun)
Baby boomers might delay retirement
Many industries are worried about baby boomers approaching retirement. They
could face a shortage of skilled workers. However, many boomers declare that
they want to remain in the workforce passed the average retirement age. A
massive demographic group 76 million to 78 million members of the baby boom
generation, who hold the lion's share of America's current work force experience
is approaching the traditional retirement age. (SeniorScope)
«The Joy of Being Old: Elderly GLBT Support
They're still epithets hurled in rage by close-minded extremists or in high
school halls by confused teens. But thanks to years of pride movements, the
terms are being reclaimed. GLBT individuals have taken the insults back and
accepted "dykes" and "queers" as terms of pride and identity. Feminists and
open-minded women have assumed the mantle of "bitches" in satisfaction and even
delight. But what about the word "old?" For an American culture consumed with
youth, or at least the appearance of it, "old" is one of the dirtiest words in
the book. People reaching a certain age are often considered non-entities by
many in our society, ignored, ridiculed, and dreaded as a sign of where we
ourselves are headed. (OOTNContent)
Can Baby Boomers afford a youthful lifestyle in retirement?
It's official. Baby Boomers are getting younger - "60 is the New 40"! As the
creators and rulers of the Youth Culture, we are not about giving up our title
easily. Boomers are getting facelifts, popping Viagra, receiving Botox
injections, and dyeing our hair - all in the name of maintaining a youthful
appearance. The question is, will Baby Boomers have the financial resources to
maintain a vigorous lifestyle and enjoy the activities of renewed youth? Turning
back the clock when it comes to physical appearance is one thing, but it's quite
another when the topic is retirement planning. Just because we look in our 30's
doesn't mean we still have 30 more years to prepare for retirement. No magic
pill can make up for years of little retirement planning or give us more years
to prepare. When it comes to retirement planning, 60 is still the same old 60,
and for many of us Boomers it's looming up ahead like a major black cloud,
threatening to rain on our parade. (Boomer
Magazine)
China:
Different skills needed
Manpower has answers for finding workers in China
The managing director of Manpower China calls it a paradox: a talent shortage in
a country of 1.3 billion people. But for any company trying to do business
in the rapidly expanding Chinese economy, that paradox is a vexing puzzle, a
costly enigma - one that Lucille Wu has figured out. (JSOnline)
Cyprus:
Cyprus needs to raise retirement age
In an effort to boost the finances of the Social Insurance Fund and ensure its
survival now in jeopardy, the Labour Ministry is working on a number of options
that will be the subject of discussions with the social partners that among
others includes raising the retirement age to 63. Labour Minister Antonis
Vasiliou said he had set the viability of the Social Security Fund as a top
priority and that he was hoping to reach an agreement with main trade unions PEO
and SEK by the end of the year. Once current problems are smoothed out, said
Vasiliou, the ministry and the trade unions must find ways to ensure the
long-term viability of the fund. (Financial
Mirror)
UK:
UK Pensions Map charts bleak retirement for
staff in the east, south-east and south-west of
England
If you live in the east, south-east or south-west of
England, there's a two-thirds chance that your
pension prospects will be bleak. And if you are a
woman, the odds of facing tough retirement years are
as high as three in four, according to the UK
Pensions Map, published today by financial services
provider JPMorgan Invest. (PersonnelToday.com)
US:
Salary.com files for $50 mln IPO
Salary.com Inc., which provides on-demand
compensation management products, said on Monday it
is planning an initial public offering of as much as
$50 million worth of common stock. (Reuters)
Facts on the Nursing Shortage in North America
Countries around the world are facing critical nursing shortages. From North
America to Africa and Europe, communities are challenged with growing health
care needs and diminishing numbers of nurses.
- Why is there a nursing shortage?
- How do we know there is a shortage?
- How is the shortage affecting patients?
- How is the shortage affecting nurses?
- What is being done to alleviate the shortage?
- Recommendations
(Start Your Own Nursing Agency)
Is the labor shortage in U.S. for real?
Leaders of some industries say there's no room for a debate about whether
immigrants are taking U.S. jobs. There's only room for more workers. They say
huge labor shortages exist in some industries, such as trucking, welding and
restaurant work, and they've got numbers to prove it. Large chunks of the U.S.
work force are approaching retirement age, and there are not enough young
workers to replace them, so immigrant workers are needed, they say. The American
Welding Society, an industry group based in Miami, predicts a shortage of
200,000 welders nationwide by 2010. But Steven Camarota, director of research
for the Center for Immigration Studies, a Washington, D.C.-based group that
opposes illegal immigration, said he's skeptical when employers say there's a
labor shortage because wages have barely gone up over the years. (Seattle
Times)
Fed: Bonuses for Late Retirement Work
U.S. incentives aimed at encouraging older workers to delay retirement appear to
be successful at boosting labor participation rates, a Federal Reserve economist
said in a recent policy paper. That conclusion could prove significant as fiscal
and monetary policy makers wrestle with what will likely be the dominant
economic policy issue for the next quarter century: how to prepare for the
roughly 78 million Baby Boomers that will start reaching retirement age in two
years. "The results imply that policy initiatives can increase the share of
older Americans who work, and more generally that older Americans respond to
program incentives," Fed Economist Jonathan Pingle wrote. (chron)
US software talent shortage looming?
So says Wipro Chairman Azim Premji, who repeated the warning during press
interviews on a recent swing through the United States. He says restrictive
immigration policies and failings in the US higher education system are at
fault. My sense from talking to US tech companies and corporate IT masters is
that he's right. In high skill areas, there are talent shortages. And it could
get worse. There's an irony here. Back in 2003, pundits warned that the global
offshoring trend would suck millions of software and back office jobs out of the
US. One effect of those warnings was that many of the best and brightest US
students promptly decided to seek alternative career tracks to software. The
number of computer science degree students dropped off precipitously. (Business
Week)
Helios HR acquires rival HR Advantage
Two human resource services firms in Northern Virginia are combining operations.
Reston-based Helios HR, a provider of outsourced human resource and consulting
services that has been in business since 2001, acquired Vienna-based HR
Advantage for an undisclosed amount. HR Advantage, founded in 2003, provides
customers with expert human resource, consulting, administration and recruiting
support. Both companies are privately held. (Washington
Business Journal)
Deep Release:
Salary.com
Files for Proposed Initial Public Offering
Salary.com, Inc. announced today
that it has filed a registration
statement with the Securities and
Exchange Commission relating to a
proposed initial public offering of its
common stock. Upon effectiveness of the
registration statement, the common stock
is expected to trade on The NASDAQ
Global Market under the symbol SLRY.
Thomas Weisel Partners LLC will act
as sole book runner for the offering and
William Blair & Company will act as
co-lead manager. Needham & Company, LLC,
Wachovia Securities, and Pacific Crest
Securities will be co-managers.
Salary.com is a leading provider of
on-demand compensation management
solutions that help customers determine
how much to pay new and existing
employees and manage overall
compensation programs. Its comprehensive
on-demand software applications are
integrated with proprietary market
intelligence data sets, which contain
base, bonus and incentive pay data for
positions held by more than 73% of U.S.
employees and similar data for the top
executives in over 10,000 U.S. public
companies. As a result, Salary.com's
customers are able to make compensation
management decisions based on the most
up-to-date, accurate and comprehensive
information.
A registration statement relating to
these securities has been filed with the
Securities and Exchange Commission but
has not yet become effective. These
securities may not be sold nor may
offers to buy be accepted prior to the
time the registration statement becomes
effective. This press release shall not
constitute an offer to sell or a
solicitation of an offer to buy, nor
will there be any sale of these
securities in any state or jurisdiction
in which such an offer, solicitation or
sale would be unlawful prior to
registration or qualification under the
securities laws of any such state or
jurisdiction.
When available, copies of the
preliminary prospectus relating to the
offering may be obtained from Thomas
Weisel Partners LLC, One Montgomery
Street, Suite 3700, San Francisco,
California 94104, or by calling
415-364-2720.
About Salary.com, Inc.
Salary.com is a leading provider of
on-demand compensation management
solutions helping businesses and
individuals manage pay and performance.
Salary.com provides companies of all
sizes with comprehensive on-demand
software applications that are tightly
integrated with its own proprietary
compensation data sets, thereby
automating the essential elements of the
compensation management process and
significantly improving the
effectiveness of its clients'
compensation spend. For more
information, visit
www.salary.com.
Media Contact:
Schwartz Communications
David Close or Bill Keeler,
781-684-0770
or
Investor Contacts:
Salary.com, Inc.
Kenneth S. Goldman,
781-464-7386
SVP & CFO
or
Integrated Corporate
Relations
Garo Toomajanian,
617-956-6728
Deeper Still:
The market research firm of
Chadwick Martin Bailey (CMB), in conjunction with Arnold Worldwide, released the results of a study redefining how marketers categorize the Baby Boomer generation. The research identifies five distinct subgroups within the diverse Boomer market.
Although marketers and advertisers lust over Boomers' high purchasing power, they generally miss the mark when it comes to segmenting the group and maximizing targeted results. The CMB research shows that treating the Boomer generation as only one or two groups is a mistake; it over-simplifies their robust differences.
"For years, companies have been marketing their products to the Baby Boomer generation as if it were a homogeneous group," said Mark Doherty, Vice President of Chadwick Martin Bailey. "Our latest research shows that marketers can identify more substantive, actionable and strategic differences by segmenting the generation into five distinct subgroups based on common attitudes, behaviors, and demographics. Using the new segments we've identified, we believe there's a more effective way to target America's most-publicized generation."
In addition to the segments identified below, the CMB study exposed these common misperceptions of the Baby Boomer generation:
- More than 70% of Boomers were never actually politically active in the 60's and 70's. For example, only 6% claim to have been active participants in historic movements such as civil rights, anti-war and women's rights; and only 15% claim to have participated in demonstrations or protests.
- While only one in five Boomers consider themselves a knowledgeable source of information for new technologies,' certain portions of Boomer population are much more tech-adept than previously believed. Achievers, for example, own significantly more technology devices than their counterparts, and they consistently rely on technology.
In order to help marketers more accurately engage the diverse Boomer market, CMB and Arnold Worldwide have identified the following five distinct subgroups:
- Status Seekers: The largest segment identified, Status Seekers make up 26% of Boomers. The group is characterized as materialistic and feels that money is the best measure of success. They enjoy the finer things in life and are willing to pay more for brand names. 31% of Status Seekers drive a vehicle they feel makes a statement about their personality and style.
- Traditionalists: This group accounts for 23% of Boomers. Traditionalists are defined by their conservative political, economic and social views. They have traditional attitudes and belief systems, are known for following the rules, and are smart consumers (interested in value, trust and variety). 45% of Traditionalists report that they'll go out of the way to buy American-made products.
- Blue Collar Skeptics: 18% of Boomers fall into this group. The Blue Collar Skeptics are just that skeptics. They are hesitant to trust big businesses and are concerned about the amount of information online. As they fall on the low end of the Boomer income bracket, this group is more stressed about time and money than the rest of their generation. 68% of Blue Collar Skeptics fear they haven't saved enough money for retirement.
- Activists: The most politically and socially active segment, 17% of Boomers are Activists. They are generally liberal and also donate a significant amount of time and money to charity. Activists are concerned about the environment, are brand-loyal, and are financially smart. 37% of Activists describe themselves as 'green consumers' (i.e. buying hybrid cars, recycling, etc).
- Achievers: The minority of Boomers, just 16% fall into the Achiever category. This group adopts technology early and relies on it heavily. They are focused on success and wealth and are heavily involved in social activities. 24% of Achievers claim to be the first among their friends to have new gadgets and devices.
About the market research study
For the purposes of this study, CMB surveyed 1000 Baby Boomers born between 1946 and 1964. Contact CMB for additional information regarding the Baby Boomer study, or to request additional statistics on each of the segments.
Coming Soon:
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Experienced Alumni Recruitment
&
Career Management Conference
November 17-18, 2006
The University of Houston
$215
Register |
Bangalore HR Summit 2006
December 15 & 16, 2006
Leela Palace, Airport Road, Bangalore-1,India
$250
Learn More |
2007 Corporate Image Conference
January 25 January 26, 2007
Westin New York at Times Square
New York, NY
$2395
Agenda |
Human Capital Management Defense
(HCMD) Annual Conference
February 13 -16, 2007
$1,797
Arlington, VA
Register |
Multicultural Forum on Workplace Diversity
February 20 - 21, 2007
St. Paul Rivercentre
St. Paul, Minnesota.
$495
Register |
Strategic E-HR Conference
Using Technology for Comprehensive Talent & Performance Management
February 28 March 1, 2007
Coronado Island Marriott
San Diego, CA
$2,195
Agenda |
2007 AESC Americas Conference: THE NEW RULES
March 7 - March 8, 2007
The Harvard Club
New York City, New York |
Staffing Industry Executive Forum
March 12-15, 2007
InterContinental Hotel
Miami
, Florida
$1,695
Register |
Talent Management Strategies Conference
March 22 March 23, 2007
Grand Hyatt
New York, NY
$2395
Register
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Nursing Management Recruitment & Retention Conference
May 4-6, 2007
Chicago Hilton
Chicago, IL
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