Continuing discussions around Human Resources topics, I found this infographic interesting.
The infographic below looks at the survey responses of more than 500 organizations across 45 countries to questions about mobility programs. Moving talent is an interesting piece of management. What I found particularly interesting was that most movement is across departments. I also like the list of Benefits of Talent Mobility.
When I think of the organization at which I work, we’re not a large, multinational corporation. Movement is centered in one geographic location across at most ten sites. Most often talent does move across departments rather and is about motivating and retaining talent.
Workforce motivation is a key topic being discussed, especially by those focused on millennials/Gen Y in the workplace. I’m sure I’ll be bringing it up in future posts.
What About You?
What do you think of the above infographic?
What are your thoughts on talent mobility within your own organization? Do the above responses ring true?
How do you feel mobility relates to the question of employee retention and motivation?
We keep saying that emotions get in the way of good investment practices. The infographic below helps illustrate how many investors would benefit from staying the course on a long-term investment plan that doesn’t have they buying high and selling low (thereby losing money).
This is a point that young investors should pay particular attention to. For anyone just starting out in the world of investing, it’s good to know where the pitfalls are before you make the mistakes. Letting your emotions dictate when you buy or sell a stock can greatly affect your rate of return (i.e. how much money you make).
A current example would be the Facebook IPO. Everyone was/still is talking about it, and I knew a number of people discussing the merits of investing in it. IPOs are special cases in the investment world, but the point I’m making is that many people’s decision to buy the Facebook IPO was based on emotion. The IPO was hyped up to no end and it was all the financial world could talk about for days (it still is, as we watch how the stock is trading in the days following the IPO release).
Individuals should make investment choices based on their financial plan and goals. If you’ve done your research, you think a stock purchase aligns with your goals and you’re ready to buy, that is up to you. But do it because it makes sense for you; not because everyone says it’s the next best thing.
See the infographic for more details on “the high cost of bad buy/sell decisions”.
Writing a CV or Resume is never easy and avoiding classic mistakes will help you to progress your job search. Here are some real life examples of mistakes people made. When is the last time you checked your CV? Did you ask someone to proofread it? Choose someone who is able to give you honest feedback and ask them to proofread it in order to perfect your CV.
Via @ NIK LEMMENS
What About You?
Have you or are you making any of these mistakes?
What are some of the most interesting mistakes you've heard of?
Student loans have been coming up in national news, in financial magazines (Kiplinger’s – see below), in online petitions…everywhere!
This is great news because student loans have been a looming problem for quite some time. The cost of education in this country has risen dramatically in the last few decades. I’m sure many of you have heard your parents talk about how they went to college and worked at the same time to pay their way. Haha! If only! Those days are long past, and now young people struggle with the cost of higher education. Some are just beginning to think about it (oh, you recent college grads…if I had known what I know now when I was your age!), others of us are working out the best way to pay down our debts.
Student Loans in the News
You may have heard that Congress is taking up the subject of keeping interest rates on some student loans from increasing. Subsidized federal Stafford student loans currently have an interest rate of 3.4%. However, that rate could double to 6.8% if no legislative action is taken to maintain the status quo. Subsidized federal student loans (given out based on demonstrated financial need) are only one type of loan students may take while in college, but they’re receiving the bulk of the attention right now. “Unsubsidized loans, which are available to students regardless of financial need, already have an interest rate of 6.8 percent,” states Inside Higher Ed, “and the interest accumulates while borrowers are still attending college.” Many students have unsubsidized loans, yours truly included, so its important to know where you stand and how the news on student loans relates to you.
Student Loans in Various Media Forms
So how excited was I to arrive home today and find my June 2012 issue of Kiplinger’s Personal Finance in my mailbox? I enjoy this personal finance magazine more than I can say, and I would (and have) highly recommend it to individuals interested in learning more about the world of finance. (Also, follow them on Twitter: @Kiplinger). As I sit back to flip through the content, I find myself reading the “From the Editor” page. I like to start here because Janet Bodnar always takes some time out to talk about current events and how they shaped content of the issue. As I’m reading along, I find she’s giving a shout out to Gen Y (millennials) [she even uses the term!]. And she’s addressing all the major issues: a poor labor market for recent grads, large student loans, a bear market, and moving back home!
Millennials, which of us have not faced at least one of these challenges since 2008?
It isn’t just the news media or personal finance magazines picking up this discussion. #studentloans is a prominent hashtag on Twitter. This blog is one of many sounding off on the subject. Lots articles I see my friends sharing on Facebook relate to the latest issues surrounding student loans. I even received an email from a friend, who was only half-kidding when they said that they couldn’t buy a <$15 LivingSocial deal with a group of us because they had to pay their loans starting this month. Shoot, when you’re coming out of your master’s with student loan debt, every penny counts!
I happen to be one of the lucky ones. I came out of my undergraduate years with around the average level of student loan debt that most Bachelor degree holder’s find themselves managing. My loans were a mixture of federal and private, the bulk of them being federal. The private loans were the result of the FAFSA doing me absolutely no good – I have a lot of issues with that application that I won’t go into here and now – and going abroad for a month right when financial aid information was due for the next academic year. I had thought all documentation had been submitted, but apparently ONE form had failed to submit properly… and by the time I realized the issue, all that was left in the world of student aid was loans. Looking back, I could have worked with our Financial Aid office to a greater extent but I was, for all intents and purposes, a first-generation college-goer and didn’t know enough to camp out in their office. Again, to know what I know now then.
I was very conscious that my grace period was not a lengthy one. I had also established that rather than jumping right into a master’s degree, which would have allowed me to defer my loans a bit longer, I wanted to join the working world. It was time to gain some skills. I also wasn’t entirely sure what I wanted to get my master’s in, and spending thousands of dollars (and probably adding to my loan debt) without being certain didn’t make sense to me.
In the end, I was lucky. And blessed. I worked three part-time jobs after graduation and had a very generous living situation (thank goodness for friends!) that allowed me to save my money. My home state did not have much to offer in the way of job opportunities, and that was right at the start of the Recession. I knew I had to move to where the jobs were – read: the East Coast. Particularly the nation’s capital, where it was clear entry-level jobs still existed at the time. My grace period ended two months before I made my move, but I was able to cover those costs and still save enough to relocate.
I was again lucky and blessed to find a job VERY quickly after arriving in town, and this allowed me to continue paying the bills and to begin saving. The big questions: save, invest, pay the loans off faster?
The Friends’ Stories
Many of my friends had different stories. A wonderful few had no undergraduate debt. Their parents had been able to help them pay for those four years of postsecondary education. However, many went on to get their master’s degrees and accumulated debt that way. Most graduated to find jobs and have settled or are settling into making their monthly payments.
Some friends have put off starting their master’s because they’re hoping to find an employer that will pay their bill for them. Again, I happen to have that benefit. Another friend of mine does as well, and we’re taking full advantage. For my friends who are still looking to start their master’s and whose employers don’t offer that perk, the question of where to get their degree has been dominated by the price of the various institutions they’re researching.
What to Know About Loans
For those not yet out of college, there is a lot to know. For those out of college, there is a lot to consider and keep in mind.
1) Learn about financial aid.
2) Know what kind of loans you are going to get/have. It won’t do you any good to try to plan your finance life without having a clear picture of where you will be/are.
3) Know Your Repayment Options
4) Keep track of your interest rates. Pay the loans with the highest interest rates off first if you can.
When it comes time to repay loans, you may look at your total debt and say, “Wow, I will never pay this off!” For many, it will take time…years. A lot of people want to know how they can speed up the process. If you have multiple loans with multiple interest rates, one important question to consider is which loan to pay extra on first.
5) Know about loan consolidation (and decide if it’s right for you)
Loan consolidation isn’t for everyone, but it may benefit you under the right circumstances. There’s a wealth of information on loan consolidation online, but a place to start to learn more about the pros and cons can be found here.
Clearly, there’s a lot to know about student loans. Just remember that you’re not alone and help is available!
A final thought on paying back your loans early. There’s a lot of information out there on this, so research this question carefully. But here are a couple of things you may want to consider if you find extra cash burning a hole in your pocket and you’re wondering how to use it:
So I hope some of this was helpful and gave you food for thought. Tell me -
Do you feel you have a good handle on your student loan situation?
Do you feel you know where to get more information regarding your questions?
What other advice would you offer millennials about student loans?
Any other words of solidarity you care to share! After all, we’re all in this together!
Image credit: Occupy* Posters, Flickr