Senin, 18 Oktober 2010

How to Make Your Current Job - Work

By Susan M. Heathfield

Job Vacancy Indonesia, Employee, Vacancy

You Feel Overworked on Your Job

You probably are overworked. Employers have cut back on hiring and are expecting employees to do more with fewer resources.
At a local university, a customer service counter was staffed by five people until recently. Now, one person staffs the counter. Is she overworked or was the counter overstaffed in the first place? You will never convince her that the answer is anything but the first - overworked.
  • Talk with your employer, after collecting good data and evidence, if you find that the job is indeed more work than one person can comfortably handle. Brainstorm options that include these:
    --hire a new employee,
    --assign a part-time employee or intern to work with you,
    --identify tasks you can stop doing, and
    --determine the value-added tasks and eliminate non-critical job components.
  • Take time to flowchart your work processes and see where you have waste in the process. Are you doing rework? How does extra time or steps make your work processes more difficult and time-consuming than they warrant?

You Dislike Your Career Field and Job

Sometimes, people discover that they have chosen the wrong career or field of work. They dislike the activities and the actual content of the job.
When I was twenty-one, I taught special education. While I loved the young people, I disliked the school setting and had little in common with many of my coworkers. I was not challenged for long by the content of the work either. Now, it's thirty plus years later and I'm still teaching, just not in a public school.
You may experience something similar. If you fundamentally don't like the work, consider these actions.
  • Spend a year exploring your career options and needs.
    --Meet with people already working in the fields you are exploring.
    --Determine education or credentials necessary to move on.
    --Read books by authors such as Barbara Sher and Annie Gottlieb. Wishcraft and other recent career and job search books are good choices.
    --Visit related career websites at About.
  • Make a careful plan with a timeline, and move on.

You Dislike Your Employer, Coworkers or Customers

Maybe you like your work but dislike your current employer, coworkers or customers. Explore your options to move to a different employer.
Make sure that the unhappiness isn't inside of you, however, and that it really is due to the actions of others. (Perhaps your employer is unethical in his treatment of the customer. Maybe your coworkers are all miserable and constantly complaining about their work.)
Look carefully for a pattern in your own actions. As an example, do you repeatedly start out at a new job and location but then quickly becoming disillusioned? If you identify a pattern, the unhappiness may all be internally generated. If the unhappiness is inside of you, only you can make you feel better and make your job - work.
If you're looking at new life options, consider signing up for these emailed tips:
Your Tip of the Week for Success in Work and Life.
Ten Days to a Happier, More Successful Career and Life.
  • Start out by exploring whether you have any control over any aspect of the situation that is bothering you. If you identify areas you control, try fixing them. Perhaps sitting in the break room listening to people complain is ruining your good spirits. Stay out of there for awhile to see if your outlook improves.
  • Consider transferring to a new work area or trading customers with a coworker.

You Can't Stand Your Boss

This is the number one reason people give for why they leave their current job or employer. When managers are nasty, abusive, and controlling, this is understandable. There are more subtle things some managers do, however, that drive staff away.
These include failing to:
  • provide direction,
  • involve people in decisions about their work,
  • appreciate staff contributions, and
  • help develop the talents and abilities of their employees.
If you find yourself in such a situation, try these actions.
  • Talk to your manager about your concerns. Many people don't realize the affect their actions create. Others just don't care. See which category your boss falls in.
  • If you are planning to leave anyway, you have not got a lot to lose. Talk with your manager's boss or your Human Resources department to see if they can remedy the situation.
  • Transfer to a different department. Try to remove yourself from the manager's influence.
I trust I've given you some ideas about addressing your current work situation that might substitute for leaving your current job. There are, however, legitimate times and legitimate reasons for moving on. Let's explore those next in the The Top Ten Reasons to Quit Your Job.

Job Burnout

By Dawn Rosenberg McKay

Job Vacancy Indonesia, Employee, Vacancy 

At some point in your career, you will experience burnout. Regardless of how much you like your job there will come a time when you just don't feel like doing it anymore. If you could choose between being sick enough to stay home (and not just lying about being sick) and going to work, you would actually choose to be sick. It would be far less aversive than facing your boss, your co-workers, your clients, and your desk.
What exactly is burnout? It is defined in Merriam-Webster's Collegiate Dictionary as "exhaustion of physical or emotional strength or motivation usually as a result of prolonged stress or frustration." Who's stressed and frustrated? Many people. Mass layoffs are making workers very nervous. Many are afraid of losing their jobs and are therefore working harder and longer hours to prove their worth. Survivors of layoffs have to work harder to fill the gaps left by their departed colleagues.
Then there are those who work hard and don't receive the gratitude they feel they deserve from their bosses. They go to work everyday, work hard, and don't feel they are rewarded properly. Raises aren't forthcoming, and promotions aren't either. People who seem to work less, but have more political clout, seem to do better. Sounds frustrating to me.
Being in the wrong career is also very stressful and can be frustrating. Many people are in the wrong career. They either tire of a career they once liked or they chose poorly in the first place. Others are in the right career but in the wrong job. Either way a change may be in order. It may involve a career change or simply a change in where you work. So, as you can see, there are many factors that cause people stress and frustration with their jobs. I'm sure you can name some yourself.
Burnout doesn't happen only to those who are stressed or frustrated, though. Notice the definition says burnout usually happens as a result of stress and frustration. I don't think the stress that causes one to experience job burnout has to be terribly obvious. Work may be going along smoothly. There are no apparent problems — no issues to resolve. You get along well with your boss, co-workers, and clients. Then suddenly one day you feel a little knot in your stomach when you think about going to work. Or, you can't come up with any fresh ideas. You let your inbox fill up. You cringe when your phone rings. You just can't figure it out. Yesterday you loved your job and today you hate it. What could have caused this to happen?
Many of us work long hours because we actually like our jobs. We have work that needs to get done, and we choose to spend ten hours a day doing it. Then one day we realize that many months have passed since we had a vacation, a full weekend off, or even a relaxing evening at home. There's an old saying that goes "On their death bed, no one ever said, 'I wish I had spent more time in the office.'" As an aside, the man who coined the term "burnout" was a psychologist named Herbert Freudenthal. Dr. Freudenthal, himself, had a reputation for working extremely long hours but did not experience burnout.

Passion Pays

By F. John Reh

Job Vacancy Indonesia, Employee, Vacancy 


Thank God it's Monday.

Do you look forward to Monday morning? Are you raring to go back to work? Or are you a TGIF (Thank God it's Friday) kind of person who can't wait to get away from the job for a couple of days? You spend at least 8 hours a day at the job. That is almost 25% of your week. If you are a TGIF person you are missing something really important in your work life - passion. Being passionate about your job is more than the old adage "do what you love". It's looking forward to going to work. It's time flying by when you're there. It's working past quiting time, not because you're swamped with work, but because you were so intent you didn't notice the time.
When you are passionate about what you do for a living you enjoy it more. You also do it better. You are more committed to the success of the operation if you believe in it passionately.

Putting your passion to work

The trick is not just to feel passionately about your job, but to act passionately too. Use you passion to move projects ahead, to find innovative solutions to perplexing problems, to work through the interpersonal conflicts. If you act passionately, you won't sit passively through another boring meeting. You can't. You will share that passion with the others in the meeting. Your energy can lift all of them. Even if it doesn't, you will feel better knowing you are doing something to advance the cause in which you believe passionately.
Passionate people get more done. They don't spend time worrying about what they have to do next. They don't scheme about how to get out of doing something. And they don't have to waste time dreaming about a vacation they want to take to get away from the job.
People who are passionate about their work do a better job. Since they care so much about the work, they don't settle for anything less than their best. They don't ever "just go through the motions." The pour all their thought and energy into doing the job well.

It's just a job, isn't it?

If you feel that work is just a job, you are wasting 40 or more hours a week of your life. You are shortchanging your employer who gets less than your best effort. You are shortchanging yourself by wasting time on routine or even drudgery instead of spending that time doing what you enjoy. You could, and should, spend those 40 hours instead doing something that makes you feel good.

Not convinced?

If you have ever had a job that you felt passionately about, you know what I mean. If you have never worked at a job like that, you may wonder just how valid these statements are. If that's the case, think about something away from work that you are passionate about. Maybe it's a hobby or a sport, an activity with a special group of friends or that quiet activity where you recharge your energies. Ever miss dinner because you were shooting hoops and didn't notice how late it had gotten? Do you know the intensity and concentration you feel when you are working on your radio-controlled models? Have you ever wondered where the day went when you were antique hunting with your best friend? Those are the the passions we enjoy in our time away from work. You get the same charge when you work at a job you are passionate about. Try it and see if you don't agree.
If you have any questions or comments about this article, or if there is an issue you would like us to address, please post them on our Management Forum to share with the entire group.

Mistakes at Work

y Dawn Rosenberg McKay

Job Vacancy Indonesia, Employee, Vacancy 

Everyone makes mistakes, they say. Usually you can correct your error or just forget about it and move on. Making a mistake at work, however, can be more serious. It may cause problems for your employer and even affect the company's bottom line. Repercussions will ultimately trickle down to you. Simply correcting your mistake and moving on may not be an option. When you make a mistake at work your career may depend on what you do next.
Admit Your Mistake: Tell your boss about your mistake immediately. The only exception is if you make an insignificant error that will not affect anyone. Otherwise, don't try to hide your mistake. You will look terrible if someone else discovers it.
Present Your Boss With a Plan To Fix Your Mistake: When you go to your boss to confess your mistake, you must have a plan for correcting it. Present your plan clearly. Tell your how long it will take to implement your plan and if there are any costs involved.
Don't Blame Anyone Else for Your Mistake: Pointing fingers won't help anyone if you make a mistake. Encourage those who may share responsibility to follow your lead in confessing to your boss.
Apologize for Your Mistake But Don't Beat Yourself Up: There's a big difference between admitting your mistake and beating yourself up about it. Take responsibility but don't berate yourself for making it, especially in public.
Correct Your Mistake on Your Own Time: If you have to spend extra hours at work to correct your mistake, don't expect to be paid for that time. You can also use your lunch hour or come into work early.

First Day at a New Job Horror Stories

By Dawn Rosenberg McKay

Job Vacancy Indonesia, Employee, Vacancy


When you thought about making an impression on your first day at a new job, you meant you wanted to make a good impression. You didn't account for some embarrassing incident leaving you humiliated. But mishaps happen ... you just wish they didn't happen to you. Looking on the bright side of things, at least you have a story to share. It may have been a horror story at the time, but isn't it funny when you look back on it? Well, maybe not. Share Your Story

Caught senting email

I was busy chatting with my previous co-workers when my boss entered my office. I tried to switch off the computer but it froze. All funny mails were visible on the screen.

Upside Down Whoops

It wasn't my first day, but I worked at an unnamed pizza shop, and I was left alone during a horrid lunch hour. Phones ringing, people walking in, making pizzas. Ugh. I was near tears and then I dropped a customer's order on the floor--cheese side down! I pretended to do something else (like get a box from a shelf) and I scooped up the cheese and toppings, slapped it on the pizza and sold it to him. No time to make a new one! It was horrible.

Starting a New Job

By Dawn Rosenberg McKay


Your first day is here. That time off sure flew by, didn't it? Put on the one suit that you know makes you shine. If you feel confident, you'll look confident to others. Whether you're driving to work or using mass transit, be sure to leave plenty of time to get there early. Treat it like a job interview, and remember first impressions do count. Eat breakfast before you leave your house -- fresh breath and clean teeth (no poppy seed bagels, please) are a must.
Your work day begins when you leave your house. You never know when you'll come into contact with your co-workers or boss. A friend of mine was driving to work one day when a car swung around her and the driver made a hand gesture (you know the one) at my friend. He didn't see my friend's face, but she saw his. It looked familiar and then my friend remembered why. He was her most recent hire, starting work that very day. She attributed his action to nerves, and hasn't said a word to him. Yet. You shouldn't make lewd hand gestures regardless of who the recipient may be, but if you are tempted to, just think of the other person as being a potential boss, co-worker, or client.
So you finally made it to your new workplace. Now take a deep breath and walk in with a smile on your face. Keep your head up and remember to make eye contact. Be polite and friendly to everyone you encounter, whether it's the receptionist or the mailroom clerk, your colleagues or your new boss. Introduce yourself to those you meet and remember that it's okay to ask questions. People generally like to help others and it usually makes them feel good about themselves. I remember a new co-worker who refused all offers of help. I guess she thought it would make her look incompetent to our boss. The result was that everyone thought she was a snob or a know-it-all and some people even vowed to refuse to help her in the future.
While it's okay to hold onto some of things you learned in your previous jobs and use that knowledge in your new job, remember that every workplace has it's own way of doing things. Your first few weeks or even months on a job is not the time to change the way things get done. Do not utter these words: "That's not how we did it at my old company." Your colleagues will just be thinking this: "Well, you're not at your old company and if you liked it so much why didn't you stay there."

First Day Manual for Managers

By F. John Reh

Job Vacancy Indonesia, Employee, Vacancy  


Whether you are a first time manager or a manager stating a new job there are things you need to know and do on your first day. This article summarizes them for you and provides links to additional detail for those items you choose for more in depth study.

Look Like A Manager

As a manager, you have a certain amount of authority by virtue of your position. However, you can reinforce that by the way you dress. The Dress Code for Managers varies depending on industry, location, company culture, etc. The one constant is that a manager is expected to dress "better" than those he or she manages. If you are new to the company, rather than having been promoted to this position from within, you should have figured out the company dress code during your interviews. You should also know the company culture. Accordingly, on your first day you will know how to dress - but don't. A first day on the job is a little like a first date. Dress just a bit nicer for the first day. On day 2 you can adjust downward slightly to appropriate clothing.

Think Like A Manager

Your job, as a manager, is to make your group more productive than it would have been without you. This is Management 101. Focus your energy from the first day on the things that only you, as the manager, can do.
  • You are the leader.
  • You are responsible for training and developing your people.
  • You are responsible for building them into a team.

Act Like A Manager

You need to get to know your people and they need to know you. I like to do that with a short meeting on the morning of Day One. You need to set the ethical climate from day one. Whether it was good or bad before, you need to establish that you will tolerate only the highest ethical standards, both for your group and for yourself.
The most important part of your job is to motivate your employees. Start that from day one. Give them positive feedback when you can and negative feedback only when you must.

Work Like A Manager

It has been said that a good manager doesn't DO anything. A good manager manages to get things done through others. You may have been the best accountant in the company's history, but as the Accounting Manager it's time to put aside the balance sheets and focus on leading and motivating your department. From day one, show them that you are here to help them, but don't do their work for them. For your team to be successful, you need to build alliances, friendships, and personal relationships. These will be with your boss, first of all. Then with your peers. And finally with any other organization inside or outside the company that can benefit your team.

What Not To Do

Equally as important as knowing what to do on your first day is knowing what not to do.
  • Here are the Top 10 New Manager Mistakes. These mistakes have already ben made by others so there is no need for you to make them too.
  • If you could ask a group of management pros for advice, here are the management secrets they would share with you.

What Does A Manager Do?

By F. John Reh

Job Vacancy Indonesia, Employee, Vacancy 


What Does A Manager Do? One of the first lessons a beginning manager must learn is that good managers don't Do anything. A manager's role is to manage the people who do actually do the work. The manager's role is to make the group more effective than they would be without him/her.
That doesn't mean that managers spend all day sitting around with their feet up on the desk drinking coffee. Most managers I know work very hard and work longer hours than anyone on their teams. So what do managers do? Read on.

Build A Team

One of the first things you have to do as a manager is to build your team. Usually, when you become a manager, your team is already in place. You may need to add a few people or replace some people. Don't be in a hurry. Learn about your team and the people on the team before you shake things up. Don't feel you have to prove you're the manager. Take the time to think things through before you make major changes.
  • Job Interview Questions to Ask
  • Right People in the Wrong Jobs

Motivate Your People

The simplest way to make your team more productive is to motivate them. Motivating people can be a real challenge for many managers because it is so different for each person. You will find that what works to motivate one person won't work for another and will actually be a demotivator for still another. As a manager, you need to find the unique motivators for each member of your team.
  • How Do I Motivate Employees?
  • Employee Retention Tips
  • Team Building

Run The Business

While you are motivating your team, you have to stay focused on the business itself. Managers must handle many specific tasks, mostly related to personnel actions and financial transactions, to keep the company functioning. You will have to make decisions daily about the correct way to do things and to keep your team function as a part of the whole company. It doesn't matter how well your unit performs unless it is in sync with the rest of the company.

Ten Things To Do Today To Be A Better Manager

By F. John Reh

Job Vacancy Indonesia, Employee, Vacancy


Listed below are ten things you can do to become a better manager. Pick one. Do it today. Pick another one for tomorrow. In two weeks you will be a better manager.

1. Select the best people

As a manager, you are only as good as the people on your team. Give yourself a better chance to succeed by picking the best people from the start.
Read Job Interview Questions to Ask to learn to be better at selecting the best candidate for the job.

2. Be a motivator

Human beings do things because we want to. Sometimes we want to because the consequences of not wanting to do something are unpleasant. However, most of the time we want to do things because of what we get out of it.
It's no different at work, people do good work for the pay, or the prestige, or the recognition. They do bad work because they want to take it easy and still get paid. They work really hard because they want to impress someone. To motivate your people better, figure out what they want and how you can give that to them for doing what you want them to do.
Here are some ideas:
  • The Lesson of the Red Horse
  • Employee Motivation Is Key

3. Build Your Team

It is not enough that people are motivated to succeed at work. They have to work together as a team to accomplish the group's objective. After all, if we just want them to all "do their own thing" we don't need you as a manager to mold them into a team, do we?
Here are some ways to improve your team building skills:
  • There Is No "I" In Team
  • Team Building

4. Be a Leader, Not Only a Manager

You have built the best team from the best employee available. You motivated them to peak performance. What is missing? Motivating a team is worthless unless you provide direction; unless you turn that motivation toward a goal and lead the team to it. It is the ability to lead others that truly sets a manager apart from their peers. Remember that leaders are found at all levels of the organization, so be one.
Here are a couple of examples, one good and one bad:
  • The Best Leader I Ever Knew
  • The Toxic Boss Syndrome

5. Improve as a Communicator

Communication may be the single most important skill of a manager. After all, all the others depend on it. You can't be a leader if you can't communicate your vision. You can't motivate people if they can't understand what you want. Communication skills can be improved through practice. Here are two exercises you can use to improve your ability to communicate effectively.
  • Getting Your Point Across
  • Writing for Business

6. Get Better At Managing Money

To stay in business, a company has to make money. That means bringing money in the door and it means spending less than you bring in. Depending on your function in the organization, you may have more influence on one area or the other, but you need to understand both. You can help your company, your employees, and yourself be getting better at managing the company's money.
Don't be put off by the numbers, or by the fact that "it's math". Start learning more about money management by reading these articles:
  • How To Read An Income Statement
  • But Am I Making Any Money?

7. Get Better at Managing Time

The one thing you will probably have less of at work than money is time. The better you get at managing time, yours and others, the more effective you will be as a manager. Here are two key skills:
  • Project Management 101
  • Pareto's Principle - The 80-20 Rule

8. Improve Yourself

Don't focus so hard on your people that you forget about yourself. Identify the areas in which you are weak and improve them. The fact that you are reading this article shows you understand the concept. You need to put it into practice.
  • Management Tips for Personal Development
  • Management Books You Need To Read

9. Practice Ethical Management

Enron-like scandals have really driven home the point about how important ethics is in business. If you want to avoid similar mistakes, here are some things to consider:
  • Lessons Learned From Enron
  • Business Ethics Resources

10. Take a Break

You are less effective as a manager if you are over-stressed. You are less tolerant. You snap at people more. No one wants to be anywhere near you. Take a break. Give yourself a chance to relax and recharge your batteries. Your increased productivity when you return will more than make up for the time you take off. Have a good laugh or go lie on a beach somewhere.
  • Business Humor
  • Do I Dare Take Vacation?

Bottom Line

Management is a skill that can be learned. You can improve as a manager by working every day to get better. Bookmark this page and come back every day for the next two weeks. If you pick one subject each day, and work on improving in that area, you will be a better manager before you know it. And others will notice it too.

Internet Job Hunting

By F. John Reh

Job Vacancy Indonesia, Employee, Vacancy


Earlier, we did a Letterman-like top ten list - How To Tell If You Are Management Material. Here are some key skills and abilities that help anyone be a better manager.

Need For Good Managers Increasing

The need for good managers is not going away. It is intensifying. With ‘flatter’ organizations and self-directed teams becoming common; with personal computers and networks making information available to more people more quickly; the raw number of managers needed is decreasing. However, the need for good managers, people who can manage themselves and others in a high stress environment, is increasing. I believe anyone can be a good manager. It is as much trainable skill as it is inherent ability; as much science as art. Here are some things that make you a better manager:
As a person:
  • You have confidence in yourself and your abilities. You are happy with who you are, but you are still learning and getting better.
  • You are something of an extrovert. You don’t have to be the life of the party, but you can’t be a wallflower. Management is a people skill - it’s not the job for someone who doesn’t enjoy people.
  • You are honest and straight forward. Your success depends heavily on the trust of others.
  • You are an includer not an excluder. You bring others into what you do. You don’t exclude other because they lack certain attributes.
  • You have a ‘presence’. Managers must lead. Effective leaders have a quality about them that makes people notice when they enter a room.
On the job:
  • You are consistent, but not rigid; dependable, but can change your mind. You make decisions, but easily accept input from others.
  • You are a little bit crazy. You think out-of-the box. You try new things and if they fail, you admit the mistake, but don’t apologize for having tried.
  • You are not afraid to “do the math”. You make plans and schedules and work toward them.
  • You are nimble and can change plans quickly, but you are not flighty.
  • You see information as a tool to be used, not as power to be hoarded.
Take a look at yourself against this list. Find the places where you can improve and then get going. And , if you need help, remember that's what this site is all about - Helping new managers get started and experienced managers get better.

The Best Leader I Ever Knew

By F. John Reh


The best leader I ever knew died recently. I want to share some of the lessons I learned from him with those of you not fortunate enough to have known him.
At his funeral, I spoke with the woman who had been his office manager in what was to be his final career. "Whenever we went anywhere together" she said, "and met with people who had worked for him before, they always said to me 'You're lucky. Frank's such a great boss' and that they'd love to work for him again." What inspires that kind of loyalty in others? How did he learn it? Click here to jump ahead or keep reading to meet a very special man.
The Navy
Frank was a typical kid, growing up in America's heartland. A smart boy, whose parents made him do his homework, his chores, and his music lessons. He graduated second or third in his high school class, depending on who you asked. He left home for the U.S. Naval Academy at Annapolis, Maryland just prior to the start of the Second World War.
The attack on Pearl Harbor compressed the rigorous four-year course of study at the Academy into three years and he went off to war at 22. He earned a Bronze Star during the war, the third highest combat medal the US Navy awards. He told me once, much later, about the teamwork the men in his department had shown that had saved them from repeated attacks from Japanese fighters and kamikazis and had been responsible for his medal. He never mentioned that he had trained those men and built their sense of teamwork.
After the war, he went back to school and earned a Masters Degree in Petroleum Engineering. Not many people in his profession had advanced degrees then, but he always loved learning and he felt it would help his career.
After the Korean War, and the birth of his fourth child, Frank made a career choice that severely limited his chances of becoming an Admiral, but allowed him to spend more time at home with his wife and kids. He said he never regretted that choice. I believe him. Finally, after a 30 year career, he retired from the Navy as a Captain (equivalent to a colonel in the Army).
Because it's there
When he retired from the Navy, he looked for something to do. He took some classes at the local community college and ended up teaching math there. He took a mountaineering class at the college and, at age 55, climbed to the 14,410' summit of Mount Rainier. He made five more ascents as a rope leader and became a member of the all-volunteer Olympic Mountain Rescue team. I remember one story he told me about a couple of "kids" who had gotten lost in the mountains and his team had gone in to find them. These "kids" were in their forties, but he was in better shape and he was 20 years older.
Second Career
With 30 years experience, he easily obtained his Professional Engineer license in several states and spent the next 15 years as a marine/mechanical engineer. Many of the managers who hired him were younger. Some questioned his ability to learn new things or to keep up the pace. He quietly proved them all wrong. And he received another US patent for one of his ideas.
I had the pleasure of succeeding him as Engineering Manager of a design engineering firm. Although two men had held the position between us, everyone in that company who had known him still had the highest personal and professional respect for him - from the company president to his former secretary.
Retirement?
Retirement for Frank didn't mean sitting around. He worked on his golf game, took up cross-country skiing, and remained active in his church and his community. He provided research and technical assistance to his wife in authoring three Navy history books.
As the Director of the local Naval Museum, he planned and supervised a move from the museum's decades-old home to a new space a few blocks away. Irreplaceable artifacts, from a flattened bullet to a mock-up of a submarine conning tower, were moved without loss. The move was completed on schedule.
Listen to your mother
The final leg of his working life began, innocently enough, on a trip to the mountains with his wife. On the way home, they stopped into an antique store and he noticed a cello. He remembered the cello lessons he had taken as a boy and wondered whether he could still play. He practiced, took lessons, and practiced some more. He auditioned for his local symphony and was awarded the third cello position. (There were only three cellists in the small orchestra.)
Frank got deeply involved in the symphony organization, as he did with everything he considered worth doing. He was elected to its Board of Directors and eventually became their President. By the time he played his last concert with the symphony, he has been so successful in building the orchestra that he was playing seventh cello.
In of his favorite pictures, he is already in his tuxedo and doing some last minute practice; his three year old grandson is sitting facing him and 'playing' a plastic violin.

How To Read An Income Statement

By F. John Reh


An Income Statement is a standard financial document that summarizes a company's revenue and expenses for a specific period of time, usually one quarter of a fiscal year and the entire fiscal year. It is important that both investors and company managers be able to read and understand this document in order to understand the company's financial condition.
Difficulty: Average
Time Required: Varies
Here's How:
  1. Sales Revenue. Often called the "top Line" this represents the amount the company has sold during the period. When there is more than one line of revenue shown above the Total Sales Revenue it provides detail as to which products or services are major revenue producers.
  2. Sales Costs. This is what it cost the company to generate the sales shown in Total Sales Revenue above. Compare the total costs to the total revenue, but also look at the cost of each line of product or service versus its revenue. Sales Costs is also known as Cost of Goods Sold (CGS).
  3. Gross Profit or (Loss). This is the difference between Sales Revenue and Sales Costs. If the difference is positive, and it had better be, it is profit. A negative difference is a loss and is shown in brackets.
  4. General & Administrative expenses are called G&A. These are the costs associated with running the company as opposed to the costs of making or buying the products (CGS above). These costs should be monitored closely and kept as low as possible.
  5. Sales & Marketing expenses. These are other costs not directly related to producing the product or service to be sold. While certainly necessary, sales and marketing costs should be monitored and compared frequently to similar numbers from other companies in the same industry with products in the same point in the life cycle.
  6. Research & Development (R&D) expenses. This is the part of its income a company is re-investing in the business to find and develop new products. It's an indication of how much management values innovation. Look at whether it is increasing or decreasing from year to year.
  7. Operating Income. This is what's left when you subtract all the operating expenses from Gross Profit.
  8. Income Before Taxes. After subtracting any interest paid on outstanding debt from Total Operating Income you are left with Income Before Taxes. This is the amount on which the company expects to have to pay taxes.
  9. Taxes. This is the amount the company has paid or expects to pay in taxes for the period. It includes all taxes to all jurisdictions.
  10. Net Income From Continuing Operations. After subtracting taxes from its income, this is what the company has left. Think of it like a workers take-home pay.
  11. Profit Margin. This varies from industry to industry, but is a good measure to compare similar companies, from either an investment or a benchmarking perspective. It's like the interest rate you get on your investment. The 5-6% shown by this company seems low for a manufacturer and would warrant looking into.
  12. Non-recurring Events. This is the cost of any one-time expenses, for instance, restructuring the business, a major layoff, or an un-reimbursed casualty loss. These are shown on a separate line so as to not confuse the "continuing operations" figure above.
  13. Net Income. This is what the company has left after subtracting all its expenses from its total revenue. If the difference is positive it is profit. A negative difference is a loss and is shown in brackets. For a company to remain healthy and in business, this number needs to be positive most of the time. Most for-profit companies strive to make it as big a positive number as possible.
  14. Dividends to Shareholders. Companies pay dividends to the shareholders who own the companies. If any dividends have been paid during the period being reported, they are shown on this line. These can be to common stock holders, preferred stock holders, or other investors depending on the company. Dividends usually are paid only once a year.
  15. Net Income Available to Shareholders. This is "the bottom line". This is the money the company has left at the end of the period. It is held for future needs, invested as the Board directs, or returned to investors in the future.
Tips:
  1. Print the Sample Income Statement at [url]http://management.about.com/library/blanks/blincomestatementsample.htm[/url] for an example as you read through these directions.
  2. Look up any terms you don't know in the Management Glossary at [url]http://management.about.com/library/blanks/blglossary.htm[/url]
  3. Be sure to read carefully the column headings above the numbers in an income statement. For example, since they read from newest to oldest, Q1 is to the right of Q2 rather than to the left.

Cost of Goods Sold - COGS

By Joshua Kennon


Total Revenue or Total Sales

By Joshua Kennon


Total Revenue or Total Sales
The first line on any income statement is an entry called total revenue or total sales. This figure is the amount of money a business brought in during the time period covered by the income statement. It has nothing to do with profit. If you owned a pizza parlor and sold 10 pizzas for $10 each, you would record $100 of revenue regardless of your profit or loss.
The revenue figure is important because a business must bring in money to turn a profit. If a company has less revenue, all else being equal, it's going to make less money. For startup companies and new ventures that have yet to turn a profit, revenue can sometimes serve as a gauge of potential profitability in the future.
Many companies break revenue or sales up into categories to clarify how much was generated by each division. Clearly defined and separate revenues sources can make analyzing an income statement much easier. It allows more accurate predictions on future growth. Starbucks' 2001 income statement is an excellent example (see Table STAR-1 at the bottom of this page).
As you see in the chart, sales at Starbucks come primarily from two sources: retail and specialty. In the annual report, management explains the difference between the two several pages before the income statement. "Retail" revenues refer to sales made at company-owned Starbucks stores across the world. Every time you walk in and order your favorite coffee, you are adding $3 to $5 in revenue to the company's books. "Specialty" operations, on the other hand, consists of money the company brings in by sales to "wholesale accounts and licensees, royalty and license fee income and sales through its direct-to-consumer business". In other words, the specialty division includes money the business receives from coffee sales made directly to customers through its website or catalog, along with licensing fees generated by companies such as Barnes and Nobles, which pay for the right to operate Starbucks locations in their bookstores.

How do you Determine Profit or Net Income?

By Rosemary Peavler



Question: How do you Determine Profit or Net Income?
Answer:
Profit or net income is determined by subtracting all the company's expenses from its sales revenues. Expenses and sales revenues are recorded as they happen, not as you receive or expend the money for them. This is called accrual accounting.
An example is accounts receivable. Suppose you have a customer to whom you extend credit. That customer buys your product. On your income statement, that sale shows up immediately even though you have not received the money for it. On your cash budget, that sale does not show up until you do receive the money for it.

Using a Cash or Accrual Accounting System

By Rosemary Peavler


When you start a small business, there are a number of initial decisions you have to make. One of those decisions is what type of accounting system you are going to use in your small business. In other words, how are you going to record your financial transactions? You can use either a cash system of accounting or accrual accounting depending on several factors.

Cash and Accrual Accounting Systems

A cash accounting system is based on cash flow. You record transactions when cash is actually exchanged. Income is recorded when you receive a cash, credit card, or check payment. Expenses are recorded when you pay them by cash, credit card, or check. Your particular business or industry may also have alternative methods of payment.
An accrual accounting system is based on when the transaction happens rather than on when cash changes hands. If your company earns income in January but isn’t paid until February, then the income isn’t recorded until February under the cash accounting method, but it would be reported in January under the accrual accounting method.
If you extend credit to your customers and allow them to purchase items and pay for them at a later time, then you are incurring accounts receivables. If you record the accounts receivable when you incur them, that is accrual accounting. If you record them when you receive payment, that is cash accounting.

Choosing your Accounting Method

In the real world, not many businesses operate on a purely cash accounting method because you often sell products and are paid later or other types of transactions occur and payment or income is received at a later time. Using an accrual accounting method gives you a better picture of your income and expenses and, as a result, your profitability. Accrual accounting also requires the use of double-entry bookkeeping. Double-entry bookkeeping means that you have to have knowledge of the accounting equation. Cash accounting, however, gives you a better idea of your cash flow.
When you file your first tax return for your small business with the Internal Revenue Service, you need to report your choice of accounting method. You are required to use the accrual method of accounting if any of the following three conditions apply to your business:
  • Your company is a C corporation.
  • Your company has inventory.
  • Your gross sales revenue is greater than $5 million. There are exceptions to this rule that you should discuss with your tax accountant.

Accounting for Start Ups

From Darrell Zahorsky


Benefits and Perks

By Alison Doyle


For many of us, the most important factor in considering a job offer is salary. For others, job security is of primary importance. Also high on the list of considerations are benefits and perks. When considering perks, the desire to work in a comfortable, casual environment where employees can set their own work schedule, have an option to telecommute, and where there is a a casual dress code, are all important.
Typical Employee Benefit Packages
According to the Bureau of Labor Statistics the average number of annual paid holidays is 10. The average amount of vacation days are 9.4 after a year of service. Almost half the (medium and large) employers surveyed offered either a defined benefit or a defined contribution pension plan. About 75% offered health insurance but, almost as many, required some employee contribution towards the cost. It's not hard to look at the averages and see how your employer or your job offer measures up. What complicates matters is the increasing use of bonuses, perks and incentives by employers to recruit and retain employees. Look at the companies rated the best places to work and you'll discover many offer health club memberships, flexible schedules, day care, tuition reimbursement, and even on-site dry cleaning.
Surveys by Ceridian have found 65 percent of employers believe that perks help to attract employees. The average number of perks offered by companies range from 3.38 perks at the smallest employers to to 5.20 perks at firms with over 5000 employees. A sure sign that employers are paying attention to the importance of added benefits is the fact that the most frequently offered perks mirror the most frequently desired perks - casual dress and flexible work hours. Some companies even offer a few options that I wasn't aware of on the list including bringing your pet to work, concierge services and take home meals.
How to Evaluate Perks
As you can see there is no standard list of perks that you can measure your job offer against. What you'll need to do is evaluate each offer on it's merits - the salary, the benefits and the perks, and determine how those perks will benefit you. If you don't plan on having children for a while or if your children are grown, it's not that important whether on-site child care is offered. Parents should check to see if the company provides paid time-off if your child is sick. It's a benefit I couldn't have done without when my daughter was a baby!
If you absolutely have to work-out every day, look for employers who offer a gym membership. Not a morning person? Ask about flexible hours. Can't stand wearing a suit? Ask about dress code. And it is important to ask, not all perks will be offered to all employees nor will they be mentioned during an interview. Consider which perks would complement your life style and your needs and choose accordingly.

Employee or Independent Contractor?

By Alison Doyle

Employee Benefits

By Alison Doyle




Job Search Engine - Best Job Search Engine Sites

By Alison Doyle


Job Search Engine Tips

By Alison Doyle

Career Services - Entry Level and New Grad Resources Center

From Laura Schneider

Career Services for New Grads

Job changes are among the most stressful life events, even for experienced applicants. Finding, applying for, interviewing and accepting your first job can be an overwhelming experience. Here are some of our career services related top picks for entry level candidates.

Job Searching Career Services

Finding the appropriate jobs to apply for is an important first step. Here are some of the best job searching resources online:
  • Entry Level Job Sites
  • Technology Job Boards
  • Weekly Job Listings often lists entry level positions.

New Grad Career Services - Cover Letters

Your cover letter is your first chance to make a great impression. “Wow” the hiring manager with a cover letter that makes them want to read more.
  • How to Write a Cover Letter
  • Cover Letter Template
  • Sample Cover Letter
  • Cover Letters for Techies – these are not entry level specific.

Resume Samples

Your resume is one of the most important documents you will write in your career. The purpose of a resume is to get an interview, not a job offer. A resume should give enough information to show that you meet the job requirements, but not so much information that the reader tunes out. The hiring manager should be intrigued, and should want to call you in for an interview to learn more.

From Laura Schneider



Landing the Internship  You should go about your intern job search the same way you would approach a full time job search – with professionalism! Make sure you have a well written cover letter ready to go. If possible, customize your cover letter to each employer you send it to. You will also need a resume that showcases your skills and any previous work experience. You can include work that you did on a project, or work you did in high school – anything that showcases your skills and provides the employer some degree of assurance that you have been reliable and dependable. The cover letters and resumes in the Entry Level Career Services guide can provide you with guidelines and tips. Make sure you also check out the job interview guidelines before your first interviews.  It is a wise idea, too, to ensure that your social networking pages present you as someone the employer would want to hire. Pictures of you partying last spring break on your MySpace page are not the image you want the employer to have of you when they are considering you for a job, and many employers now routinely check these sites before hiring people. If you are active in social networking online, clean these pages up before you start your job search. Quite frankly, my recommendation would be to keep them clean, too. You never know who is checking up on you!  During your internship, it is vital that you are a dependable and reliable resource for the employer. You should not call in sick unless you are really ill, and in that case, be sure to give your employer as much advance notice as possible. You should show up to your job on time, and looking well groomed and professional. Paid or unpaid, your internship is your job, and you will need the references later in your career. Set the ground work now and you will have a much easier time getting hired in the future. After the Internship Ends  After your internship ends, ask if the employer will serve as a reference for you. You can ask for a letter of recommendation from the employer and also ask if they would be willing to act as a professional reference (it is against company policy at some companies to release and information other than a verification of dates worked and titles held during employment, so check with your manager).  Be sure to keep in touch with the co-workers that you met during your internship. You can network with them via LinkedIn or other social networking platforms, and be sure to maintain contact with those co-workers that have had a chance to observe your work habits.

Internships - All About Internships in the Technology Industry

From Laura Schneider

Information Technology Outsourcing

By Bradley Mitchell


In the United States, corporations plan to outsource many thousands of Information Technology (IT) jobs to outside firms. Most of these jobs will belong to so-called offshore organizations in India or Southeast Asia. The media buzz and corporate momentum around IT offshoring and outsourcing continues and shows no signs of abating.
As a current Information Technology professional in the U.S., or a student considering a future career in IT, outsourcing is a business trend you must fully understand. Don't expect the trend to reverse any time in the forseeable future, but don't feel powerless to cope with the changes either.

Changes Coming with Information Technology Outsourcing

Ten years ago, workers were attracted to the Information Technology field given the
  1. challenging and rewarding work
  2. good pay
  3. numerous opportunities, the promise of future growth and long term job stability
Outsourcing will alter and is already altering each of these IT career fundamentals:
  1. The nature of the work will change dramatically with offshoring; the future may be equally rewarding, or it may prove wholly undesirable depending on one's individual interests and goals.

  2. Information Technology salaries will increase in the countries that receive outsourcing contracts and may decrease in the U.S.

  3. Likewise, the total number of IT jobs will increase in some countries and may decrease in the U.S, much future growth will happen outside the U.S, and job stability will remain unclear everywhere until the outsourcing business models mature.

How to Cope with Information Technology Outsourcing

IT workers in the U.S. are already witnessing some impacts of IT outsourcing, but the future impacts will possibly be even greater. What can you do to prepare? Consider the following ideas.
  • Don't Panic - The prospect of job searches or career changes can be quite stressful to Information Technology workers. IT students may understandably begin to question their choice of career. However, the more stress and worry a person takes on, paradoxically the more difficult it becomes to successfully reach their career goals.

  • Don't Wait for The Upturn - So-called experts predicted a sharp upturn in the U.S. economy and increase in IT jobs for several years, that largely did not happen. Expect that IT will operate in the current climate with respect to outsourcing for the foreseeable future.

  • Become a Generalist - Years ago in Information Technology, specialization was king. Those with the heaviest technical backgrounds and loftiest job titles, like Enterprise Architects, commanded the highest salaries. Nowadays, a person is much better positioned if they are skilled in multiple areas of both technology and the business side of IT. Flexibility is king.

  • Look to Smaller Organizations - Fortune 500 companies will primarily pursue offshoring ventures but smaller firms less so. Outsourcing creates a substantial amount of overhead before the gains kick in, and small companies can't afford to pay that price for the foreseeable future.

  • Start Your Own Business - Uncertain economic times, and occasions of industry change, are often the best ones for starting a new business, due to lower prices for capital, less competition, and the natural emergence of big new market opportunities. All it takes is an entrepenurial attitude and a few good ideas.
Above all, whatever your chosen career path, strive to find happiness in your work. Don't fear the ongoing change in Information Technology just because others are afraid. Control your own destiny.

Information Technology

By Mark Kolakowski