What are HR directors worth?

first_img Comments are closed. Whileother company directors seem to be paid vast sums regardless of theirperformance, HR directors do not. Scott Beagrie finds out what HR needs to doto boost its image as well as its pay packetExecutive remuneration has been a big headline issue of late. The businessworld is reeling from the recent bout of executive payouts that have seen thelikes of Jean-Pierre Garnier, chief executive of pharmaceuticals companyGlaxoSmithkline, rewarded with £7m in earnings plus the prospect of a £22mpayout if the company is taken over. The list of large bonuses to executives that have overseen falling profitsand share prices is long, and has been greeted by a chorus of disapproval bydisgruntled shareholders. Even the Department of Trade and Industry hasresponded by publishing Rewards for Failure – a consultation paper on curbingso called ‘fat cat’ pay. Executive pay awards in the UK HR arena, however, don’t tend to hit nationalheadlines in quite the same way. So it was a big day for the profession when itwas announced 18 months ago that Jim McKenna, then group HR director of Logica,was ranked as the fourth-highest paid director in the country with a £7.2maward. It made a big statement about the perceived value of the profession, butsadly the case of McKenna – now chief executive of the UK operation ofLogicaCMG – doesn’t reflect the full story of HR remuneration in the UK. Richard Cockman, partner in the human capital group at Watson Wyatt, saysthe consultancy’s research shows that an HR director on the executive committee(where most are found) will typically earn 10 to 20 per cent less than otherfunction heads. And even those on the main board are still earning 10 to 20 percent less than other directors reporting to the chief executive. Is HR really perceived as a lesser function in the UK, and are many HRdirectors being sold short when it comes to pay and rewards? And what is themarket price for HR? The answers, it seems, are yes, yes and a rather greyarea. “HR is in the second division at least in terms of function,” saysMark Thompson, head of reward at pay specialist the Hay Group. For the secondyear running, a study from Croner Rewards shows the median salary for an HRdirector as falling below comparable posts in other functions. The latest findings from the Personnel Rewards 2003 survey, conducted byCroner Rewards in association with the Chartered Institute of PersonnelDevelopment (CIPD), shows the average pay for HR directors is £57,449 – 4.3 percent below the average for other functions. This is a marginal improvement onlast year’s figure, but a significant reversal from 2000, when average pay forHR directors was 3.2 per cent higher than other functions. Senior HR managers also lose out this year with an average annual pay of£46,207 compared with £47,277 for all other functions – a differential of 2.3per cent. A major factor in this discrepancy seems to be how the role and its variousresponsibilities are perceived within organisations. The chief executive, chieffinancial officer and operations director positions carry enormousresponsibilities. This is particularly true in FTSE 100 companies, ranging fromcorporate governance and managing investor relations through to strategicplanning. Sadly, people management strategies still aren’t given the sameprominence, and indicative of this is the fact there are only around 15 HRdirectors on the main board of companies in the FTSE 100. People management practices Ironically though, the operations director is likely to be responsible for implementingsome of the people management practices devised by HR. “Often there is awoefully inadequate approach to people issues by the CEO and financial andoperations directors on the board unless you have a ‘John Harvey Jones’-typefigure, who is obviously hugely engaged and involved with people,” saysThompson. “Most organisations aren’t lucky enough to have a CEO in thatposition.” Thompson’s sentiments are echoed by Richard Lamptey, a partner in theexecutive compensation division of Mercer Human Resource Consulting. “There is a perception that the HR director is not a strategicmanagement role as compared with finance, marketing or operations. They arethere mainly to implement what the board – and, in particular, the CEO – hasdecided on the people strategy, rather than actually formulate it and presentit in their own right to the board,” he says. “That is [one of thereasons] why we tend to see HR directors as somewhat lower paid.” Yet in the not too distant past, when HR (or personnel as it was then) washeavily involved in tackling industrial relations head on, it was perceived asfar more influential than it is now. Sir Pat Lowry, who was director of industrial relations and later directorof personnel at car manufacturer British Leyland during the strike-torn 1970s,was chief executive Sir Michael Edwardes’ right-hand man. “Nobody wouldhave said that he wasn’t a major pillar of company strategy,” saysCockman. Former director of HR at oil giant BP, Nick Starrit, now a consultant on HRstrategy and a non-executive director at RebusHR and Capital ResourceConsulting (who refuses to discuss his remuneration while at BP), contends payshould come down to job evaluation which recognises the size and contributionof a job in relation to the success of the enterprise. “Base pay still reflects the size of the portfolio you’ve got tomanage. It may be that the HR portfolio is perceived under a company’s jobevaluation system to be as large, for example, as sales and marketing,” hesays. “It’s not been my experience, but my view is that big ticket jobswith responsibility for the predominant profit and loss of a company willcommand higher base pay.” By far the area that attracts the most flack from fellow directors and linemanagers – and the one that affords most opportunity for HR to increase itspersonal profitability – is its lack of alignment to real business issues. Theonly way to combat this is to heed the clarion call of the likes of DaveUlrich, John Sullivan, Tom Peters et al for HR to reinvent itself as astrategic business partner that can influence the board and the direction ofthe business. These are the kind of HR individuals Aine Hurley, partner at executivesearch company Odgers, Ray and Berndtson, has conducted major searches for onbehalf of Royal Mail and BT in the past nine months. In both cases, she says,the company’s chairmen wanted to recruit individuals with ‘very commercialoutlooks’ and general management experience who also happen to be HRprofessionals. “I know [the potential to be a change agent] directly impacts onremuneration because organisations are looking for a new breed of HRdirector,” Hurley says. “It is moving the HR role into something thathas a much wider contribution to make to the business: a change agent, afacilitator, an enabler or culture changer. Therefore the person needs to bevery credible with line managers and to be able to talk a good business story,not just a functional one.” She adds: “There is an upward pressure for these commercial changeagent-types of HR director and an upward pressure on the remuneration. They areat a premium because these are very big jobs.” Degree of risk There are, of course, downsides to HR being recognised as a ‘big job’ –principally that if you fail to deliver, you won’t be duly recognised orrewarded, and at worst, your number could be up. “If you want to get paid the same as your peers, you need to share thesame degree of risk,” says Ralph Tribe, vice-president of HR at GettyImages. “The concept of risk is fundamental to how much you getpaid.” Tribe says his pay is exactly in the middle of what other VPs get paid atthe company, and believes his remuneration reflects both the level of risk heaccepts as part of his job, and HR’s constant alignment with the organisation’sbusiness issues. At Getty Images, HR was the architect of a project that wouldsee a switch to a new business model and the headcount reduced by 50 per centas a result of integration, acquisition, and overlap. “You normally need a stimulus to generate quite aggressive changes, andthe way we did this was by setting a target around headcount reduction based onwhat we believed the optimum size of the business should be in a fully digital,fully integrated state,” says Tribe. “A lot of the reason we havebeen so successful is due to a very rapid integration strategy. If that hadbeen wrong, we could all have been fired.” If HR wants a lesson in successful reinvention, it could take a leaf out ofthe finance department’s modus operandi, says Hay Group’s Mark Thompson. Hereckons the function has managed to transform operational financial roles suchas the chief accountant who ran “the amazing drudgery of paying invoicesand managing credit control” into a strategic leadership role of financedirector. “HR doesn’t seem to have succeeded in doing this, but that’s the modelit should focus on,” says Thompson. “There should be a head of HR orpeople services that is quite separate from [the position of] HR director whowill focus on issues such as ‘what kind of organisation do we want to be’, and‘what kind of culture do we need to support the business strategy?’ It meansbeing heavily engaged with strategy and planning, but linking the big peopleissues to that business strategy and making it happen.” One of the ways in which HR can tangibly demonstrate its worth to the boardis by providing people management data on which to base business strategies. Developments such as Watson Wyatt’s Human Capital Index and Dave Ulrich andMark Huselid’s HR Balanced Scorecard are all attempts to measure theeffectiveness of HR. While they have their critics, they do represent the bestchance for HR to deliver on this front. “HR directors have got to start positioning themselves and the workthey do as being absolutely crucial to the forward strategic thinking of thebusiness,” says Mark Lamptey. “They have to start thinking about howthey demonstrate to the rest of the board the value of the functions, how theymeasure the performance and work of their functions and of the contributionthey make to the business.” Probably the only other area deemed to have an impact on the overall rate ofreward for HR, is the vexed subject of qualifications, although much has beendone to improve the status of HR’s professional qualifications – not leastgaining chartered status. Refreshingly, at director level, fellows of the CIPDcan expect to earn around £12,500 per annum more than non-members, while seniormanagers who are CIPD members could add up to another £1,600 to their basesalaries. There is a view in some quarters, however, that people managementqualifications don’t carry the weight that other chartered or businessmanagement qualifications do such as accountancy, management and marketing. Allied to this is the notion that individuals can (and frequently do) enterthe profession from other disciplines without relevant qualifications becausethe sector offers a freedom of entry that others don’t. There are alsoinstances where the HR position has been combined with other roles such asfinance director or company secretary, which can also diminish the function’simportance. It wasn’t so long ago that Shell’s HR and finance director were oneand the same person, for instance, while the HR director of Allied Domecq’salso wears a finance hat. “There are lots of people who feel they can come into HR managementhaving come from other backgrounds. They have been practical engineers, they’vedone other things, and they think: ‘I’m able to manage people and look afteradmin and stuff’,” says Lamptey. “Compare that to the top people infinance, who are likely to have chartered accounting or another businessqualification.” Mega salaries Although HR director salaries rose more than expected this year, it islikely to be some time, if at all, before their rewards routinely hit theheadlines as they do in the US. A report at the end of last year carried outfor Society for Human Resource Management (SHRM) by Mercer, detailed thatDennis Donovan, executive-vice president of HR at Home Depot Inc, earned$21.2m, making him the company’s second highest paid executive for 2001. Thismega-bucks reward is significant not only because of the amount, but alsobecause it showed how HR chiefs are gaining financial parity. Mercer’s findings also showed that by achieving business results,”senior HR executives have earned a seat at the executive table equal totheir colleagues in finance, operations, marketing and other corporatefunctions” states the SHRM HR Magazine. There has been a great deal more clarity about executive earnings over thepast five years which can only benefit the profession, but there is still someway to go. In line with what the SHRM report demonstrates in the US, Starritpoints out that HR directors, whether they sit on the board or not, have noautomatic right to equal rewards. He says: “What is more important is that the HR director, or head ofthe function, is seen to be contributing to the commercial success of the enterprise– albeit through the people dimension – and they are doing that in a tangibleway that will make people say ‘wow!’” www.celre.co.ukwww.haygroup.co.ukwww.mercerhr.co.ukwww.watsonwyatt.comPersonnel rewards 2003: How HR ranks in the pecking orderWhen it comes to pay, a variety offactors naturally come into play, including geography and company size. An HRprofessional in London, not unexpectedly, comes out on top with a median salaryof £28,625, which is nearly a fifth above the national average. Practitionersin the West Midlands fare worst with £21,078, which is 12 per cent below thenational average. When it comes to size, average earnings for an HR director atthe helm of a company with a turnover in excess of £500m can earn £67,000,which is 16 per cent above the average.The Personnel Rewards 2003 survey shows the gender gap hasalmost closed, with female HR directors now earning just 1.3 per cent less thantheir male colleagues, compared with 5.6 per cent last year.Changing jobs is also a good thing as HR directors who havemoved in the past 12 months have gained a 7 per cent premium on the surveyaverage of £57,449. The communications sector is where practitioners can earn themost money, recording 47 per cent above the all-sector average, while travel isthe lowest paid at nearly a fifth (18per cent) below the average. Related posts:No related photos. What are HR directors worth?On 17 Jun 2003 in Personnel Today Previous Article Next Articlelast_img read more

How to Spot the Signs of Three Major Mental Health Issues in the Workplace

first_imgHow to Spot the Signs of Three Major Mental Health Issues in the WorkplaceBy kooth on 25 Nov 2020 in PROMOTED CONTENT, Anxiety, Stress, Mental health conditions, Latest News, Mental health, Personnel Today No comments yet. Leave a Reply Click here to cancel reply.Comment Name (required) Email (will not be published) (required) Website Together alone: staying well as OH practitioners in challenging timesDr Nerina Ramlakhan explains how occupational health professionals can balance supporting the health needs of employers and employees while, at… Creating a different kind of workplaceMental Health Awareness Week encourages employers to focus on ‘kindness’ at a time when workers throughout the world are beset by feelings of uncertainty. COVID-19 has had a major impact on the UK’s mental health, something that will have devastating repercussions for years to come. Kooth Plc, the UK’s leading digital mental health services, has seen an increase in demand for services as people struggle to cope with anxiety, stress and job insecurity. Our data from the start of the pandemic period (March 2020-June 2020) revealed noticeable increases in several key presenting issues – family relationships, self worth and suicidal thoughts. As a result of the stigma still surrounding mental illness, some employees may feel reluctant to share their struggles and mental health problems can often go unrecognised. It’s not always easy to spot the signs of mental health illness so here are some signs to watch out for:Family Relationship BreakdownsWhy is this rising? With many couples and families now spending much of the day in close quarters juggling school runs, Zoom meetings, and meal planning, tensions can run high. This combined with mounting debt, not being able to socialise or even go to the gym to let off steam, means employees could be feeling angry, upset or frustrated – although it may not always be obvious when people have different outlooks and coping mechanisms when they feel overwhelmed.How do you spot it? If you notice that someone you work with is talking about friction with their families – perhaps an argument they have had or a change in enthusiasm towards the people they live with – they may want somebody to confide in. You may also notice that your colleague is prone to sudden outbursts or is often short tempered. Online counsellors and peer support forums are a fantastic source of support, no matter how small the issue may seem. If an employee is opening up to you and you feel you’re not able to help as much as you’d like, having somewhere to signpost them to is important.Self WorthWhy is this rising? Self worth involves a self appraisal of things such as appearance, beliefs, feelings, behaviours and performance. Whilst genetics undoubtedly play a part, our interactions with others and the world around are usually central to these appraisals. Since the COVID-19 pandemic, opportunities for such interactions have been at best limited and at worst negative. From relationship breakdowns to loss of a regular exercise regime or engagement in activities that promote feelings of happiness and positivity, there are many factors at play, influencing how we feel about ourselves.How do you spot it? There are a few ways to spot a colleague displaying self worth issues. Firstly, they may seem uninterested in setting goals for the future as they are lacking confidence. You may also notice them becoming defensive or becoming withdrawn. Lastly, people with self esteem issues often talk down to themselves and/or appear self-defeating.Suicidal ThoughtsWhy is this rising? The emotional, financial and social impact of COVID-19 is unprecedented for the vast majority. Job losses aside, the costs of weekly grocery shops have increased significantly; sense of belonging and self worth have been hugely compromised and anxiety regarding what lies ahead is almost commonplace. How do you spot it? Spotting someone with suicidal thoughts is tricky as the symptoms can differ between people and their situations. There are some specific behavioural and physical changes that you might notice in others including being distracted, anger, low mood, weight loss/weight gain and disinterest in personal appearance or hygiene. Early intervention is imperative to helping to prevent presenting issues such as low mood or anxiety from escalating into suicidal thoughts or even self harm. If you think someone is in crisis, then you should try and persuade them to contact a crisis service such as Samaritans by calling 116 123.Why digital mental wellbeing toolkits are the way to goAnalysis by Annie Meharg, CCO of KoothIt is clear that Covid-19 has had a negative impact on our mental health. Since the start of the pandemic, Kooth has seen unprecedented demand for its services. Providing your employees with a safe and anonymous space to access mental health and emotional wellbeing support is crucial. Kooth users can receive synchronous or asynchronous support from qualified human practitioners via booked or drop-in sessions. We also provide clinically proven and research-backed tools such as pre moderated and safeguarded peer-to-peer community forums, thousands of advice articles through the Kooth magazine, goal setting and journaling supported by activities.Traditionally, Employee Assistance Programmes (EAPs) have focussed on reactive solutions such as phone counselling and GP appointments. At Kooth, we take a forward thinking, proactive approach more in tune with the times we are living in. Kooth’s digital mental health toolkit is not only designed to help people when they need it most but to also support people when they just need a bit of advice. Kooth keeps anonymity at the forefront of its platform, whilst still giving you the reporting tools you need to assess your company’s mental health as a whole. Kooth uses 19 years of experience and data to constantly improve our product and clinical offerings. Our platform has one of the largest mental health data sets and is the only online mental health platform that captures real time insights on what is really affecting your workplace. Additionally, we’re the second biggest provider of mental health data to Public Health England and our data has been featured on Panorama and BBC News.If you’re interested in learning more about how digital mental health toolkits can benefit your organisation, I’d love to have a chat with you. Connect with me on linkedin or email [email protected] Related posts: Previous Article Next Articlelast_img read more

The International Polar Year 2007–2008: planning for a new phase of polar exploration and understanding

first_imgThe concept of the International Polar Year (IPY) 2007–2008 is of an intensive burst of internationally coordinated, interdisciplinary, scientific research and observations focused on the Earth’s Polar Regions. The research will address six themes organized around the environmental status of the Polar Regions and their relationship to change, the links between the poles and the rest of the globe, utilization of the unique features of the regions for science, and the human dimensions of communities in the Polar Regions. IPY will seek to exploit new technological and logistical capabilities, and make major advances in knowledge and understanding. Key objectives are to attract and develop the next generation of polar researchers and engineers, and to engage the interest and involvement of polar residents, and of schoolchildren, the general public, and decision makers, worldwide. The official observing period of IPY 2007–2008 will be from 1 March 2007 until 1 March 2009, under the international oversight of a Joint ICSU-WMO Committee.last_img read more


first_imgFOOTNOTE: ATTACHED IS A LINK OF LESS THAN ATTRACTIVE HOMES OWNED BY HOPE OF EVANSVILLE[Untitled]FacebookTwitterCopy LinkEmail By Jessica Costello | January 23, 2020, at 5:29 PM CST – Updated January 23 at 6:19 PM POSTED BELOW ARE A FEW PICTURES OF HOMES LOCATED IN THE NORTH MAIN STREET AND JIMTOWN AREAS ARE WAITING FOR THE WASTEFUL  SPENDING PRACTICES  OF THE EVANSVILLE DMD AND THE EVANSVILLE REDEVELOPMENT COMMISSION. EVANSVILLE, Ind. (WFIE) – A complete rehabilitation to a home at 101 East Tennessee was approved on Thursday by the Board of Public Works. A COLLAGE OF DILAPIDATED HOMES OF THE NORTH MAIN STREET AND JIMTOWN AREAOver the last several months we have been questioning the wisdom or the lack of wisdom of those who are in charge of improving the housing stock in the North Main and Jimtown areas.  All we hear from the DMD, Evansville Redevelopment Commission and Hope Of Evansville is how they are striving to bring move affordable, safe, liveable and energy inefficient housing to the Jimtown and North Main areas.LINK TO CHANNEL 14 TV STORY ABOUT THE HUD FUNDED HOUSE LOCATED AT 101 EAST TENNESSEE STREET A $240,000 grant agreement between Hope of Evansville and the EVANSVILLE DMD will completely rehabilitate the abandoned home. https://www.14news.com/2020/01/23/k-home-rehabilitation-project-approved/FOOTNOTE: This soon to be renovated HUD-funded rehabilitation house located at 101 East Tennesse Street, Evansville, Ind. has no front door, no gutters, and a crumbling brick foundation. Permission to use this link was given to the City-County Observer by TV Channel 14 news. Please click the attached link below to get an idea of how the HUD’S HOME Rehabilitation program fleeces the taxpayers.We give five (5) cheers to Channel 14 TV for bringing this extremely eye-opening investigative story to the taxpayers of this community. The cost will cover the rehabilitation plus an extensive environmental review, appraisals, and construction drawings.last_img read more

Mama’s plans for winter

first_imgNational Cupcake Week’s overall recipe champion Mama’s Cupcakes has launched a new winter range, including its competition-winning Black Forest variety a chocolate sponge laced with kirsch and glacé cherries.Also in the range is My Christmas Cupcake a fruit cake with sherry-soaked fruit, nuts and cherries, topped with marzipan, royal icing and sugared decorations; My Forest Fruit Cheesecake a light vanilla sponge topped with a swirl of white chocolate cheesecake and centred with forest fruits pureé and then topped off with a mix of berries; and My Barbie Cupcake celebrating 50 years of Barbie a pink cherry sponge topped with pink butter cream and edible pink glitter.Prices: (batch of 12) £17.50- £25.50www.mamas-cupcakes.co.uklast_img

Sara Bareilles’ Waitress Recoups on Broadway

first_img Related Shows Don’t worry, Waitress can pick up the tab. The production recouped its $12 million investment, becoming the second musical from the 2015-16 season to turn a profit (following Hamilton).The Diane Paulus-helmed musical, featuring a score by Grammy nominee Sara Bareilles and a book by Jessie Nelson, opened officially at the Brooks Atkinson Theatre on April 24, 2016. Tony winner Jessie Mueller earned her third Tony nomination for her performance as Jenna, a small-town waitress in an abusive marriage, who channels her hope for escape into her inventive pie-making expertise.In addition to Mueller, the current Broadway cast includes Charity Angel Dawson as Becky, Caitlin Houlahan as Dawn, Tony nominee Christopher Fitzgerald as Ogie, Drew Gehling as Dr. Pomatter, William Popp as Earl, Joe Cassidy as Cal and Dakin Matthews as Joe.The national tour will kick off in Cleveland, Ohio on October 17. Drew Gehling & Jessie Mueller in ‘Waitress'(Photo: Joan Marcus) View Commentscenter_img Waitress Show Closed This production ended its run on Jan. 5, 2020last_img read more

Referendum A.

first_imgWhether voters support Referendum A with their vote on Tuesday is up to them, but I want voters to make their decisions based on correct information about relative tax burdens.Referendum A would exempt heavy farm equipment from local property taxes. Farmers would no longer have to pay ad valorem taxes on their tractors, combines and most other farm equipment (pickups used on the farms would still be taxed).Some reports have claimed this tax relief for farmers would transfer the tax obligation to other property owners in rural areas. This claim may be true, but the resulting distribution of the tax burden will be more equitable than it is now.Enhances Local Tax FairnessReferendum A actually enhances local tax fairness.Normally, as an economist, I don’t favor such targeted tax cuts designed to benefit a specific group. Such policies tend to distort the efficient working of our (supposed-to-be) free market economy. However, in this case, we have clear evidence that such tax relief is warranted on equity grounds.A University of Georgia study showed that for two representative Georgia counties (Habersham and Oconee), farm and forest land owners paid considerably more in county property taxes and other fees than they received back in services. In Oconee County, farmers paid $1.06 for each dollar of county services they received. In Habersham County, they paid $1.42 for every dollar of services.Conversely, homeowners paid only 92 cents in Oconee and only 81 cents in Habersham for every dollar they received in services. These numbers don’t even include taxes paid for schools — just those for local governments.If schools are included, farmers are overpaying by even more. In fact, more than 70 such studies have been done nationwide, and in every case, farmers pay more in revenue than they receive in services.Tax Relief Wouldn’t Be BurdenStatewide, the total tax relief under Referendum A is estimated at $12.9 million per year. In only seven counties is the tax relief estimated to exceed $250,000 per year. In the two most affected counties, Mitchell and Colquitt, the tax relief is approximately 6.5 and 4.8 percent of the total property tax collections, and even less than that of the overall county budgets.Looking at this evidence, it’s reasonable to conclude that farmers aren’t getting an undeserved tax break under Referendum A. They are simply getting a tax burden that’s more in line with the services they receive from their local governments.Such an argument may be why all but three states in the Southeast already have similar legislation.I suggest that Georgia and its county governments can easily afford this tax relief for farmers. Most important, the new law would actually enhance tax fairness, not reduce it.last_img read more

Tremont Institute: Live & Learn in the Smokies

first_imgSpend 3-10 days living and learning in one of the most ecologically diverse parks in the world – Great Smoky Mountains National Park.Great Smoky Mountains Institute at Tremont is located four miles from the Townsend, Tennessee entrance of Great Smoky Mountains National Park. It is surrounded by miles of trails, a rushing river, a gorgeous waterfall, and a half million acres of mountains and forests. Tremont Institute delivers experiential learning for youth, educators, and adults through programs that promote self-discovery, critical thinking, and effective teaching and leadership. What interests you? Photography? Hiking? Family Camp? Backpacking? Naturalist Courses? Youth Summer Camps? Teacher Professional Development? Tremont has it all. Programs are offered year-round and pricing includes instruction, meals, and housing on campus. We invite all ages to step away from their daily routine and join us for an adventure in the Smokies. Learn more and register online at www.gsmit.org.last_img read more

Educating young entrepreneurs into a worthwhile investment

first_img 176SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr,Carolyn Eagen Carolyn Eagen is an Account Executive with Sogeti USA, a Capgemini Group Company. Carolyn and Sogeti help clients identify a best practice approach to complex business challenges through advanced technology … Web: www.us.sogeti.com Details Educating Young Entrepreneurs into a Worthwhile InvestmentIt seems every article you read these days is about how Millennials, or the even newer Generation Z’s, are making waves in the market place. Business leaders all know by now that their members, peers and fellow professionals are quickly evolving into a new breed of fast-paced, entrepreneurial idealists. Just google the word “millennial” and over 2,000,000 news articles will flash before your eyes, but how can businesses actually be proactive and adapt to this inevitability? How can community banks transform the way they do business to embrace the millennial mentality?The answer is about embracing the egocentric. Credit Unions have the opportunity to shift their marketing efforts from member-focused to business-focused, attracting loyal members through education, empowerment and genuine value.Millennials are often generalized by their desire for fast, reliable answers…so give them exactly that! Empower young members and future members with the knowledge to make smart investment decisions and you will grow an entrepreneur worth investing in.Here are a few ways you can get started with education-based marketing to attract and grow your millennial market:Grassroots events and workshopsGet to know the next generation of small business owners by offering free trainings for young professionals and striving entrepreneurs. Focus in on specific demographics by catering topics to fit your business objectives. For example, if you are looking to attract new SBA loan applicants, consider hosting a workshop on how to fill out SBA applications or business plan basics. By honing in on specific challenges that young professionals face and can’t easily find the answer to online will help guarantee attendance of your target audience. Struggling to put together the resources to develop your own educational workshop series? Partner with local community programs that are already advocating your message. Your support will have a positive impact on the community and attract those same striving small business owners and young investors with less lift required.Webinars, YouTube and other video resourcesThe term “thought leadership” is one that gets thrown around almost as often as “millennials” but it is a coveted term among organizations and professionals for good reason. Thought leaders are synonymous with trusted advisors to millennials because they can be relied upon for truthful and often fast information. By placing video assets in the hands of members, you are providing them with the opportunity to learn at their leisure, on their own schedule. Consider how valuable an education based webinar series or mini YouTube series could help you create the millennial traction you are seeking. It is important to keep in mind that new member-focused marketing when developing these video assets. In order to captivate your target audience, your video needs to provide value for them beyond when your credit union was founded. A good rule of thumb before investing in the creation of any digital assets is to ask “Why would millennials watch this?” The answer should always be “To help themselves do XYZ.”Self-Service Insights Millennials and Gen Z’s are all about self-service. They are reliant on knowledge and resources available so why not give it to them on their terms? Empower millennials with the tools to better understand their own financial state then guide them down a path to secure a loan for their startup business or buy their first home with your help. With the rise of millennial consumers, big banks have embraced this self-service generation by pushing out consumer-facing analytics and allowing members to explore their own financial data. By empowering millennials with insights into their own financial state, credit unions are grooming this new generation to be more active and loyal members. Offering this type of self-service insights requires the help of business analytics professionals but there are less customized tools that you can offer consumers. An easy place to start may be to exploring innovative tools like Hip Pocket, which helps your members and prospects to make informed investment decisions without the help of a member services representative.Education-based marketing isn’t just for attracting millennial markets, it is a trend that is driving investment decisions across demographics. Building trust through empowerment and thought leadership is the real wave that is disrupting the marketplace.It is true that providing true value in marketing efforts will require more work from the business than simply plastering your name and a catchy slogan on billboards all throughout town but with it comes a much greater return as well. As credit unions, it is especially important for you to embrace education-based marketing to mentor future small business owners. With the rise of entrepreneurial millennials and the trend of “retirement businesses” for baby boomers looking to finally open that store they’ve dreamed of for decades, credit unions can help themselves to reduce the risk in financially supporting startups by educating their proprietors. There is no silver bullet for predicting new small business success rates but investing in educated entrepreneurs is a good start.Be a vehicle for the Millennials and the next generation of your local business owners in your community.last_img read more

Tampa Bay Buccaneers arrive in Charlotte after seven-hour plane delay | NFL News

first_imgTampa Bay departed for Charlotte just before 9.30pm ET, according to NFL Network, which was first to report the team’s travel issues. The team finally landed at 11.27pm.Tampa Bay (6-3) play the Carolina Panthers (3-6) on Sunday.What went wrong for Brady and the Bucs?Sky Sports’ NFL writer Cameron Hogwood…The NFL can be a fickle business, and the Tampa Bay Buccaneers are the latest reminder of just that.Everything was looking dandy entering November. Bruce Arians’ team were being eulogised as a playoff-bound juggernaut led by a Tom Brady sticking it to Father Time, and with a suffocating Todd Bowles defence taking names at the line scrimmage.Two weeks later, and the Bucs are licking the wounds of a 38-3 demolition at the hands of the New Orleans Saints, having just about escaped East Rutherford with a 25-23 win over the New York Giants earlier in the week.The performance against the Saints was as ugly as it was ever going to get, and one Arians will be hoping proves a mere anomaly.Read the full feature here… – Advertisement – The Tampa Bay Buccaneers arrived in Charlotte more than seven hours late after mechanical issues with their plane delayed their arrival ahead of Sunday’s match against the Carolina Panthers, according to reports.The flight was scheduled to depart Tampa International Airport at 2.25pm ET and land in Charlotte at 3.55pm ET, according to ESPN.The delay forced the team to hold team meetings and eat a meal inside the airport. The Buccaneers followed social distancing protocols by congregating in areas with restricted access to the general public or outdoors. – Advertisement – – Advertisement – – Advertisement –center_img Live NFL November 15, 2020, 5:00pmLive on The Tampa Bay Buccaneers come up against the Carolina Panthers on Sunday – live on Sky Sports NFL at 6pm – as they look to recover from a crushing defeat to the New Orleans Saints; The team were forced to hold team meetings at Tampa International Airport as they waited to take off Last Updated: 15/11/20 8:42am Tom Brady and his Tampa team-mates were left to wait at the airport
Tom Brady and his Tampa team-mates were left to wait at the airport