Using Technology for Successful Mentor Matches

Mentoring, the process of passing knowledge and experience along to others is an ancient concept that remains relevant in today’s workplace. In fact, it’s perhaps one of the most powerful and cost-effective ways to develop talent. Mentoring doesn’t require the expense of external training and it can assure the transference of organizational knowledge. Strong mentoring programs can also help businesses attract top job candidates. Unfortunately, many mentoring programs are problematic and simply don’t work – often because they take too much time for HR professionals to facilitate personal match-ups or for employees to find suitable mentors on their own. In a recent interview published in Workforce, Brian Kropp, who heads Corporate Executive Board Co., an advisory firm in Arlington, Va., pointed out that among the approximately 1,300 firms his firm works with, 70% have some sort of mentoring program in place. However, he noted “The vast majority of them are …

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The Importance of Certificate Tracking

Certificate tracking can seem like a complicated and tedious process, but it’s important to work out a reliable system for all of your vendors and partners to help protect your organization from excessive risk.   “You need to have their certificates on file because you want to be sure that they are carrying the required coverage, and if you need to file a claim with their carrier [that] you have the information that you need,” says Dana Gold of Dana G. Gold Risk Management and Insurance Consulting Services. Here’s why reliable certificate tracking is so important. It Improves Transparency Vendor relationships work best with a healthy sense of trust and transparency, and that extends to insurance coverage. If your vendor, supplier or other business client isn’t able to provide certificates for the coverage they’re expected to carry, follow up and find out why. This could be a sign that they …

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What the Fed’s Move Means for Annuities

What the Fed’s Move Means for Annuities

In a signal of confidence in the strength of the economy, the Federal Reserve raised interest rates in the middle of March to a range between 0.75% and 1%. This move is a sign that the economy is expected to continue to grow, albeit slowly, and that inflation is at an acceptable level of close to 2%. As a result, experts say annuities brokers should be ready for greater interest from consumers who want to save. “An increase in interest rates will definitely increase the interest in annuities,” says Lou Cannataro, senior partner at Cannataro Park Avenue Financial. Investors are searching for safe ways to grow capital, he says, and many have reverted to high-dividend-paying stocks without giving proper analysis to the amount of risk in such portfolios. Read on to learn more about what higher interest rates mean for the economy overall and annuities in particular. Subdued Inflation — …

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5 Ways to Calm Stress at Work

5 Ways to Calm Stress at Work

When Aon Hewitt, a human resources and management consulting company, polled thousands of employees to find out the source of stress in their lives, the top four reasons all had one source – work. That doesn’t mean most people hate their jobs or are miserable at the office. The reality is anyone who works has probably experienced tension, anxiety and assorted worries related to their work environment from time to time. In fact, the American Psychological Association (APA) points out that even if you absolutely love what you do, your job can include stressful pressures such as having to meet deadlines. Problems develop, however, when stress at work is chronic. And, if you lack coping strategies, it can result in a variety of health woes. According to the National Institutes of Health (NIH), chronic stress can trigger digestive symptoms, headaches, sleeplessness, depression, anger and irritability. People who experience stress regularly …

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Predicting the Future: Companies Utilize Advanced Metrics to Predict Workforce Needs

Predicting the Future: Companies Utilize Advanced Metrics to Predict Workforce Needs

In challenging economic times, organizations are frequently struggling with tough decisions about their workforce. What will the future hold? Should they reduce staff or prepare to get an early jump on the competition? To answer these and other important questions, a growing number of firms are turning from a reliance on workforce metrics that focus primarily on what has happened in the past to workforce metrics developed specifically to analyze what lies ahead. These predictive analytics can help HR departments move away from using only data like head counts and turnover rates to figure out the best hiring, retention and, if necessary, staff reduction strategies that will be needed down the road. Thanks to novel software tools and expert statisticians, 21st-century advanced metrics are beginning to offer organizations the ability to actually peer into the future with more precision. However, so far the number of companies using predictive workforce analytics …

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