401(k) Guys and Gals!

Happy Monday!  This week my department is putting on 401(k) educational seminars as part of our financial education initiative for our employees.  Although I've gotten pretty knowledgeable about 401(k) plans since my first job 6 years ago - you can never know too much about your plan.

So, after sitting through my 3rd meeting today (when this is complete I would have sat through 6 meetings total!), I thought to share my two cents on the subject. 

Starting out in your career retirement can seem like a very distant destination, but whether your company's 401(k) record keeper is Fidelity, New York Life, Vanguard, ADP or any other administrator here are 5 things you might want to consider now and throughout your career:

• Contributing $$
• Contributing to the company match max - so that you don't leave free money on the table.  If your company does not match - still contribute your pre-tax dollars.
• Staying educated.  If you know how to pick your funds, or you set up a pre-selected fund based on your retirement goals, make sure you revisit and reassess your or selections as time passes to make sure you are staying on track.
• Avoid taking a loan against your account if you can - it's possible you'll be subject to twice the tax implications as you repay it.
• Rollover eligible 401(k) accounts from previous employers if your plan allows, to keep all your accounts in place.

Happy Saving, preparing for retirement, or whatever else you may want to call it!

I have to admit, I don't watch the local news too often nor CNN or MSNBC.  However, I will read www.cnn.com or even www.msn.com for world news to keep current as to what is going on around the globe.

For those of you who do make it point to watch Anderson Cooper, Diane Sawyer and your local newscasters - kudos to you.  But don't stop there, it is also very important to stay in the loop of what is going on in the industry in which you work.  I often read Human Resources themed periodicals and magazines.  It is important for me to keep up with industry innovation, newsworthy leaders and benchmarking standards that are being set in my field.

As an HR professional I read:

• HR Magazine
• Staffing Management
• Diversity Executive
• Risk Management
• Employee Benefit News

While I don't subscribe to all of these magazines, my employer does!  Try to get your employer to subscribe to those magazines that are applicable to your job function as well.  Assure them that their investment in you staying current in your field is a win-win.  Depending on the industry these subscriptions can get pricey, so you can always check them out at your local library, or go online to get digital version or ezine versions of the publication within your career field, if subscribing is not an option.

With the click of my mouse (Google Queen Alert) I located resources for magazines in a couple other industries, take a look: 

Marketing

• Advertising Age - http://www.adage.com/

Medical

• Advance - www.advanceweb.com - this is a good find as it caters to a wide array of medical professionals.  Some of the magazine subscriptions are FREE for those licensed in the field.  FREE is always good.

Engineering

• Mechanical Engineering - www.memagazine.asme.org
• Civil Engineering - www.asce.org

Business

• Forbes - www.forbes.com
• Business Week - www.businessweek.com

Science

• Science - www.sciencemag.org

Information Technology

• Computer World - www.computerworld.com
• Information Week - www.informationweek.com

Next time you contemplate something to read, pick up or log on to some industry info and while you do that, I will put forth some effort to watch the news!

The School of P. Diddy

I read recently that P. Diddy has plans to open a business school in Harlem, NY, where he would embark on "building leaders" as he mentioned in a CNN interview. I'm not sure if he needs a whole school or academy, but I would find it interesting if different business moguls and leaders taught specialized courses or seminars at colleges and universities to help students explore some unconventional methods of achieving success, skill application and other real life business case studies.

In my experiences my most meaningful learning came from a mix of literature and from people who have been in the trenches, having worked in my field of study and who were able to apply all the lessons they learned from the textbook.

So, go for it Diddy! I am sure you'd teach an interesting course.

Here is an interesting statement, my boss heard on a radio show yesterday and shared with me today. Add this to the career growth section of your mental notes file. I am paraphrasing a bit, but the message still speaks loud and clear...

"Your talent can take you places, but your character can keep you from getting in."

Courses they should have offered in college! ~ Just a thought...

Often times I think about the skills I learned in school and how I am utilizing them to do my job everyday. All the case studies, group work, term papers and that very long, yet very informative thesis I wrote for my masters degree and think I missed out on a couple of valuable lessons that would help me right about now!

I'm sure that many of you could think of classes or subjects that should have been offered to you in preparation for the "real world". Take a look at my top 3 classes that I think should have been offered in undergrad or graduate school and their descriptions.

1 - How to successfully hone your "Acting" skills for the workplace
Introduces to corporate practitioners to the theatrics needed to achieve the highest level of "fake". Lecture, discussion and performance.

2 - Brown-nosing / Kissing up 101
Defining what a "brown-noser and/or kiss up" actually is. The introduction of types and tactics and fundamental concepts needed for application.

3 - Strategies to remain sane in an ever changing office environment
The integration of concepts, theories and framework that will explain in detail the "how to" in keeping your sanity, moral character and ethics when thrust into an office environment where you will encounter multiple personalities and difficult situations.

Delinquent Notice #2

Last we talked, we discussed the topic of paying your dues in the workplace. Putting in hard work, busting your tail or even waiting your turn to get to the top. As mentioned, today's millenials find it odd to be following the same directions as those of the baby boomers, Gen X'ers and Y'ers - especially when 2 important things are present: Observation #1 was discussed in the first half. 1 -We are innate job hoppers. We aren't really trying to put in 25 to 30 years at a employer. To be honest, we aren't trying to be anywhere for 5 years - so technically our dues should be much cheaper!

It is time to move on to observation # 2- its hard to follow the same principals when we so often find managers and bosses who are in their high power positions not because of talent but simply because a) they know someone, b) paid the due of 'time' or c) not only do they know how to kiss butt but more importantly...whose butt to kiss - it does make a difference!

So I got to thinking... the older workforce is appalled at the younger workforce's idea of promotion, career growth and how to rise to the top, and want us to follow these dated rules and politics. But if we have non-talented leaders, how confident can one feel about paying dues, putting in time and sucking up?

I've worked in a place where not only was my direct boss incompetent, but her boss possessed the same lackluster qualities. This made me mad and I consistently wondered "how did you get this job?" every time I encountered either one of them. To make matters worse, there was nothing that could be done about that situation, as they were in their positions and had been for a couple years, which was weird, because I don't know how they were able to keep getting by???

So, what can we do to break the cycle, sorry to say, nothing. Just do what you have to do, learn everything you can, and you will because with a stupid boss, who usually winds up doing their work and coming up with fantastic ideas and suggestions -YOU. By the time you move on, and you will move on, you will be so on top of your industry game! (Question: So, should we be grateful to our bosses who know nothing, yet challenge us to complete their high level projects? - that's another entry...)

I am no longer naive to think that all executives and managers are super smart, savvy and strategic. Some people will get ahead by sucking up, knowing people or simply by default. But one tip: When you get there you better learn something and fast - you will be asked to prove your ability sooner or later! For the sake of the business and mostly your own reputation, because to this day, my former coworkers and I often indulge in uncontrollable laughter when we reminiscence about our stupid bosses!

Working to the top ~ Delinquent Notice #1

"I should be getting a raise soon!" ~ "I better get a bonus this quarter." ~ "Where is my promotion, I've been here 9 months!"

I spoke to a 21-year-old recent college graduate a couple months back and she indicated to me that she thought upon graduation that she would have gotten an On-Air Radio Personality job because she had gotten her degree in Broadcast journalism. I looked puzzled, wondering why did she think that she would have started immediately upon graduation at the top when her experience clearly rested at the bottom!

In today’s society is anyone really working their way to the top? Does "Generation X" (mid 20's-40's) and the newly titled "Millennials" (newest workers) know how to pay their dues? Or "are we even still in an era of owing them in the first place"?

With reality TV phenomenons like “The Apprentice”, "American Idol" and "America’s Next Top Model" in addition to "who you know and networking circles", hard work and experience are appearing obsolete. There has been a shift from working 60 hours a week and devoting 20 or more years to an employer to graduating college, wanting to be the boss and reaping all the perks that come along with it your first week out of school.

There was a time when interning for free (starting at the very bottom) was the all time success story of working your way up. Remember the inspiring story of young Sean “Puffy” Combs starting as an intern at Uptown Records who is now a “Music Mogul" and "Fashion Icon".

According to the article "Generational Teach Back: What Older Workers and Younger Workers Can Learn from Each Other" on Monster.com younger workers are functioning in the work world with the following ideals:

New Technology: I totally agree with this one, lots of young people are excited by new and futuristic trends - no one has patience anymore, including me. We just want things done, now!

Diversity: Born and raised in San Francisco and going away to college did expose me to different ways of life, theories and work ethic.

Job-Hopping: I know sooo many job hoppers! Younger workers do not share the value of company loyalty with older workers, jumping ship whenever a better opportunity presents itself. Instead of putting in the time, they just look elsewhere.

Risk Taking: Just call us rebels - me normally with a cause, occasionally without one! Younger workers take bigger risks, whether its quitting your job to start your own business - (then you will be the boss), or travelling the world and seeing where you land but always being optimistic. Whoo -today people are a little more gutsier and savvy.

Balancing Work/Life Issues: I love to travel and do things in my spare time. But how much time do we really get to devote to our own agendas. Can you believe the article called young workers "not career driven". Perhaps not - but more so "success-drive".

Fulfilling Dreams: I'm all for fulfilling my dreams! Younger workers want to fulfill their own dreams, and not necessarily those of the company! Often times they are only using the company to further their own objectives.

I still believe there will always be dues to be paid, but they may get cheaper!

Next time, we will examine those who made it to the top, yet know nothing! Be careful what you wish for...

Long time - No see.... No Talk.... No Write...., etc. I've been either voicing or hearing some rendition of that phrase since signing my name to the corporate dotted line - all while subjecting myself to the development of bags under my eyes, working through lunch or skipping it all together. This is what you get when you step into the real world and start on your many years towards seniority.

In the midst of our busy season at my job - as each industry has one ~ it's times like these I think back to my senior year in college when I was finished with my psychology major coursework and only taking electives, eagerly awaiting graduation, getting out of school and starting an adult life. My two best friends and I would sit up late at night ( as seniors we were smart enough to schedule late morning classes) in deep discussions about how "over" college we were, tired of stupid freshman and how much better life would be when we started our careers. We partied frequently, maintaining our academic scholarships all four years, shopped with our parent's money each weekend, and travelled during breaks - summer, Christmas, spring, Thanksgiving ~ there were so many.

Ironically all 3 of us - progressed on to achieve masters degrees in the 2 years following undergrad - while one is currently pursuing a doctorate degree, so much for entering the real world immediately. But, for 2 of us - 3 years after graduate school, 3 years of work experience under our belts when we finally get to talk once or twice a month (on the weekends of course) we like to reminisce about the best times of our lives - back in undergrad. We find it hilarious how naive we were. After 45 minutes to an hour of discussing what's new in our lives and all the details of our careers, the 2 of us who aren't in school find joy in ending our call with the PhD candidate saying- "stay in school, don't join the rat race!"