Category Archives: Employment

Philosophy Of Pre-employment Document Verification – trust, But Verify

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Document verification is the process of ensuring that documents presented by prospective employees are genuine and that the holder is the rightful owner. It is an integral part of the pre-employment screening process. Back Checks philosophy for safe hiring is to Trust, But Verify. Unsavory candidates will often conceal their past criminal or employment histories, which can lead companies to make poor hiring decisions.

Why documents verification is so much important in a current scenario? Because hiring new employees is a costly as well as time consuming process in such fast pace business and corporate environment. As the recession in past five years have taken all the opportunities far away from the job seeking applicants, the inflation in document forgery and exaggeration has increased.

Every day we hear about companies employing staff who turn out NOT to be whom they say they are. A comprehensive research shows that around 1 in 5 job applicants falsify their resume or documents to some degree. Estimates show that the cost of a bad hire and replacement is around 150% of the salary. Percentage of forged academic documents has increased over the years creating a huge gap of trust between employers and the candidates.

Document Verification Is Effective

Documentation serves as a basis for pinpointing areas where employees are performing well and those that need improvement, communicating specific feedback to employees, reaching more accurate decisions, and defending actions if litigation or other challenges arise. There is an expectation by employees, other management, hearing officers, investigators, judges, and juries that the employer will have documentation in place to support employment decisions.

Primary source documents verification of the educational documents is very necessary as it will let you know that the documents are forged or not. It inquires about the dates of degree started and completion, attendance during the educational period, performance and character etc.

Checking criminal records is also important as part of the process of document verification. You’ll need to protect your business from liability by doing criminal background checks on applicants who will be your prospective employees in future to avoid employee fraud/theft.

It is important that pre-employment document verification processes are integrated within every employers wider pre-employment screening strategy. The fastest, reliable and yet economical source for document verification is independent background check companies. As they are well conversant with all the procedures regarding background screening procedures and they have all the strong links to make sure the investigation is true, targeted and accurate.

Due to security concerns and the high cost of recruiting, many companies are using pre-employment screeners to background prospective hires which minimize the huge risks of business/customer loss. In addition to checking for previous criminal activity, these firms also verify your educational and employment information. The majority of these screening companies use your job application, not your resume, to check your credentials.

Employment Lawyer He can Protect Workers’ Rights

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The relationship between a worker and their employer can be a wonderful arrangement. It can also be fraught with unfair treatment that needs the attention of an employment lawyer. While many employers are just as upstanding and hard working as their workers, there are some that are so focused on the bottom line that they infringe on the rights of their employees. Some of the issues that such lawyers can help with include:

Sexual Discrimination: It is illegal to be discriminated against in the employment arena due to gender. Age Discrimination: An adult person’s age cannot be used to determine wages or job availability. If a person can do the work, it doesn’t legally matter how old they are. This, of course, is not true for minors. Minors under the age of eighteen years of age may only work under specified conditions and hours.

Sexual Harassment: A person may not be harassed sexually during the course of their employment. This covers a broad spectrum including intimidation, insults or derogatory language.

Pregnancy Discrimination: Each employer must adhere to legal guidelines in regards to pregnant employees. Pregnancy is never a reason to engage in discriminatory practices.

Wrongful Termination: A proper course of action must be adhered to in the termination of an employee. Wrongful termination is a cause for legal intervention. Problems Related to Severance Packages: Issues do arise regarding severance packages. Issues may include what is rightfully owed to the employee and how the package will be distributed.

Disability Discrimination: A person can not be discriminated against because of disability limitations. Legal intervention is necessary if this type of discrimination should occur.

Race Discrimination: A person’s race has no bearing on their ability to carry out their job. Using race as a deciding factor in job selection or wages is illegal. Problems with Contract Negotiations: Employment lawyers can help with individual contract issues as well as broad scale company or union negotiations. Problems Related to Family Leave Issues: A certain amount of family leave is a person’s right. If problems occur, legal guidance may become necessary.

If legal issues come up within a workplace environment, it is important to have an attorney step in. Workers, like all citizens, have rights to be treated fairly and without harassment or harmful discrimination. They also have the right to work in a safe environment. If an employee finds that this is not the case where they work, they should consult with an employment lawyer as soon as possible.

An employment lawyer, Media PA specializes in employment law cases and is eager to help you resolve your dilemma, so you can continue to work. Firms here provide top-notch legal protection and legal counsel for those in need of an employment lawyer. To know more, visit http://www.benarilawfirm.com

After 1 Year, Obama Vs. Reagan

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As we approach the end of the year, we are also approaching the end of President Obamas first year in office. You might be wondering how he is doing, based on actual numbers (rather than political spin).

Obama clearly inherited a difficult situation economically. Only two others in the modern era came even remotely close. One, of course, was FDR, but unfortunately the data from then is rather sparse, and mostly available on just an annual basis, or at best quarterly (good economic data was one of the by-products of the New Deal).

The other who inherited a difficult economic situation was President Reagan. Granted, the type of difficulty was very different under Reagan, and presidents — like quarterbacks — get too much of both the praise for a good economy and the blame for a bad economy.

Still, I think comparing the numbers for the two during their first “year in office could be instructive. The data I used for the comparison are all available monthly (at least, and if more frequently, I used the monthly data). The source of all data is the St. Louis Fed (except for the S&P 500).

The two presidents offered very different prescriptions for the economy. Reagan was all about cutting taxes and less government involvement in the economy. While most of the really big moves of government into the economy in response to the recent economic crisis actually took place under President George W. Bush, Candidate Obama saw them as needed. The Bush Administration was the one that bought the stakes in American International Group (AIG – Snapshot Report), Fannie Mae (FNM – Snapshot Report), Freddie Mac (FRE – Analyst Report) and the banks, while Obamas support for a prepackaged bankruptcy resulted in large government stakes in the Auto industry.

There were no comparable big investments by the government into the private sector late in the Carter Administration, and certainly Reagan did not initiate any. Reagan did not have to deal with a financial meltdown when he took office, but on the other hand, Obama did not have to deal with runaway inflation. Both are serious diseases, but think of it this way: both cancer and heart disease can kill you, but you would not want to give chemotherapy drugs to a heart attack patient. Thus, perhaps it is appropriate that the prescriptions be different.

If one only looks at the unemployment rate (U-3), both did a poor job in their first year, and Obama was significantly worse. The unemployment rate in January 2009 was 7.6% and by November it had climbed to 10.0%. In January 1981, when Reagan took office, the unemployment rate was almost identical at 7.5%, and by November of 1981 it had climbed to only 8.3%.

Private employment actually rose during the first 11 months of 1981 by 0.55%, from 74.671 million to 75.084 million. Under Obamas tenure so far, private payrolls have dropped by 2.95% to 108.495 million from 111.793 million.

So on the employment front, Reagan is the clear winner so far. However, over the course of 1982 and 1983 the employment situation deteriorated significantly. We do not know what unemployment will do in 2010 and 2011, and thus can only judge based on what we have seen so far and in the comparable period under Reagan.

Advantage: Reagan

Reagan also wins when it comes to real disposable personal income, which expanded by 2.3% in the first 11 months Reagan was in office, while it has only increased by 1.0% so far under Obama.

Advantage: Reagan

The dollar was also much stronger during the first 11 months of Reagan, although I am not sure if that is a positive or a negative. During the first 11 months of Reagan, the dollar relative to an index of major currencies gained 9.88%, while under Obama, the dollar has lost 9.70% relative to the same index.

Given that we are running chronic trade deficits now, but really were not back then, I would argue that today a weak dollar is good for the economy today since it will help out on the net export side of things. Inflation is not a big problem today, but was the number one problem with the economy when Reagan took office. The downside of a weak dollar is that it contributes to inflation, so back then having the dollar strengthening was a good thing.

No Advantage to Either

On the inflation front, however, things are far better under Obama. On a headline basis, prices have gone up by 2.39% so far under Obama, while they rose 7.57% during the first 11 months that Reagan was in office. On a core basis (ex-food and energy) the difference is even more stark, rising 8.31% under Reagan and up just 1.51% under Obama so far. Later in the Reagan Administration, inflation fell much more, but even when he left office in 1989 inflation was far higher than it is today.

Advantage: Obama

Industrial production fell slightly more during the first 11 months of Reagan (1.07%) than it has under the first 11 months of Obama (0.68%). Capacity Utilization started out at a much lower level when Obama took the oath than the Reagan did, at 71.1% (an all-time record low at the time) vs. 80.7% when Reagan took office. However, by November of 1981, the total capacity utilization rate had fallen to 77.9%. Under Obama, capacity utilization has actually risen to 71.3%, although it remains at a historically low level.

Advantage: Obama

Interest rates can tell a lot about the state of the economy. For example, the spread between the rate that gilt-edged companies have to pay on their bonds and what normal companies have to pay on their bonds tells a lot about how much bond investors fear companies going belly up. The former is measured by the Moodys (MCO – Analyst Report) Aaa rate and the later by the Baa rate (not to be confused with “junk bond” rates; Baa is still investment grade).

In January of 1981, the best credits in America had to pay 12.81% on their bonds, while normal companies had to pay 15.03%, for a spread of 2.22% (or as a ratio, normal companies had to pay 17.3% more than the gilt-edged ones). By November of 1981, both the best and the ordinary had to pay more — the Aaa rate had surged to 14.22% while the Baa rate had risen to 16.39%, so the spread had fallen ever-so-slightly to 2.17. The ratio had come down a bit more, and the ordinary firms were paying 15.3% more than the best firms.

When Obama took office, the Baa rate was 8.14% while the Aaa rate was 5.05%, for a spread of 3.09. In other words, ordinary firms had to pay 61.2% more for money than the best firms did. Investors were very afraid that companies would go bankrupt, and so demanded a higher rate from normal companies than from firms that seemed to have very little risk of writing a new chapter (the eleventh) in their corporate histories.

Since then, the rate the highest-rated firms have to pay has actually increased slightly to 5.19% while the rate that normal firms have to pay has plunged to 6.32%, bringing the spread down to 1.13% and the ratio down to the point where normal companies are paying 21.8% more for their money than the Aaa firms.

(Given the huge difference in the overall level of interest rates between the two eras, it is important to look at both the spreads and the ratios. Clearly a spread of 2% has a very different meaning and significance if it is between 1% and 3% than if it is between 13% and 15%).

Advantage: Obama

Another important signal that comes from interest rates is the yield curve, or the difference between long-term and short-term interest rates. The curve is measured using Treasury notes or bills, since you only want to be looking at the differences due to maturity, not due to quality (the opposite of the Aaa-Baa spread, which is only looking at quality differences, not maturity differences).

While there are many different measures of the curve, the one that is used the most is the difference between the 2-year note and the 10-year note. Generally speaking, the steeper the yield curve, the better. An inverted yield curve is very bad news, and is probably the best single indicator that the economy is about to go into a recession.

When Reagan entered office, the 10-2 curve was inverted, with the yield on a 2-year note at 13.26% and the yield on the 10-year at 12.57%, for a spread of -0.69. On a ratio basis, the 10-year was providing only 0.95 of the 2-year. By the time November of 1981 rolled around, the curve had returned to normal but was still pretty flat. The yield on the 2-year had fallen to 12.88%, while the yield on the 10-year had increased to 13.39, resulting in a positive curve of 0.51. On a ratio basis, the 10-year was 1.08 of the 2-year.

When Obama entered office, the 2-year was at a very low 0.81% while the 10-year was 2.52%, for a positive spread of 1.71%. On a ratio basis, the 10-year was yielding over three times as much as the 2-year (3.11x to be exact). By the end of November, the curve had expanded even further, with the 2-year virtually unchanged at 0.80%, while the yield on the 10-year had risen to 3.40%, for a spread of 2.60% and a ratio of 4.25x. Again, given the vastly different overall levels of rates, it is important to consider both the spreads and the ratios when making the comparisons.

Advantage: Obama

Mortgage rates were both far higher and moving in the wrong direction early in the Reagan presidency. When he took office they were at 14.90%, and by November they had risen to 17.83%. When Obama took office, the rate on a 30-year fixed mortgage was 5.06% and has since fallen to 4.88%.

Not surprisingly, then, the housing market was far worse under Reagan than it has been under Obama (at least if measured by direction, not levels). In January of 1981, housing starts were running at a seasonally adjusted annual rate of 1.547 million, and by November of that year they had plunged to 837,000, a decline of 45.9%. Since January of 2009, housing starts have risen from an annualized rate of 488,000 to a rate of 574,000 in November, an increase of 17.6%.

Advantage: Obama

Similarly, single family new home sales plunged by 25.2% early in the Reagan years to a rate of 382,000. Since Obama came into office, new single family home sales have risen by 22.2% to an annualized rate of 402,000. Existing home sales are not particularly important to the economy (just like used car sales are not very important).

Auto sales also fared worse under the early part of the Reagan Administration than they have so far under Obama (at least as measured point-to-point). When Reagan took office, auto and light truck sales were running at an annualized rate of 11.03 million and had fallen to 9.21 million, a decline of 16.5%. Under Obama, auto and light truck sales have risen from an annualized rate of 9.59 million in January to a rate of 10.89 million in November, an increase of 13.6%.

Advantage: Obama

Finally, while people sometimes make too much of the day-to-day fluctuations in the stock market, it is a good reflection of the overall health of the economy when you look at longer time periods — and almost a year is long enough to qualify there. On that metric, there is simply no contest. Between inauguration day and Christmas Eve in 1981, the S&P 500 lost 7.65%. Since Obama took office, the S&P 500 has gained 39.9%.

Advantage: Obama

Weighing these different economic indicators is inherently subjective, and thus I am not sure that one can come to a clear-cut case that one has done a better job than the other — at least so far. This is also far from a complete list of economic indicators and I focused on only those that were available at least monthly, and many of the most important economic numbers come out quarterly.

Arguably, the economic mess that Obama inherited was worse than the one that Reagan inherited, although both were pretty nasty — yet very different. The U.S. economy is more of an oil tanker than a speedboat, and does not turn around on a dime, so it really is too early to tell how Obama is doing.

However, the indicators that are most forward-looking and leading for the economy (stock market, yield curve and quality spreads, housing starts) are the ones that favor Obama over Reagan. Overall, 11 months in, one must conclude that Obama is doing at least as good a job on the economy as Reagan did in his first 11 months.

How Interest rates affect the employment market- The UK Knack Group

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The UK Knack Group would like to provide some insight into how interest rates affects employment levels. The association between the two is very easy to understand.

A larger-than-expected decrease in the monthly employment rate causes interest rates to increase.

More employed people are putting more money into circulation. An increase in available cash means there are more pounds chasing the same amount of goods as were available the previous month.

Employers like The UK Knack Group require time to ramp up operations to meet the increased demand. In order to employ additional staff, companies may have to borrow money over the short term in order to meet payroll expenses or acquire more raw materials. In the case of UK Knack Group, people are its product and this effect is more easily seen.

Lenders experience an increase in loan requests. In this case, borrowers like The UK Knack Group are increasing demand on available money which results in higher interest rates charged by the banks and other lenders.

At the same time, central government lending agencies will raise their lending rates after analysing the bond markets, a move calculated to forestall inflationary forces. Banks borrow from the central lending agencies at a higher rate of interest and pass on the additional expense to their own borrowers such as UK Knack Group.

However, lower unemployment may affect interest rates more indirectly. Companies ramping up operations are often short of employees for a time who demand higher salaries.

Higher wages may drive prices higher. Again, more money is chasing fewer goods. Inflation may result, depressing the stock market.

Companies with lower cash flows coming in may need to borrow. Once again, banks begin lending at a higher interest rate to meeting the higher demand for loans.

When unemployment rates are around the -natural rate- of around 5.5% as determined by economists, interest rates remain stable, according to UK Knack Group information. This is called -equilibrium.- When that rate decreases, interest rates go up. Similarly, when unemployment increases, interest rates go down. They are inversely related, in other words.

UK Knack Group gives an example of this process. When the unemployment rate is above 5.5%, those who are out of work cut back on expenditures, lowering demand for goods and services. For instance, a family with an unemployed salary earner is less likely to dine out at a restaurant, which in turn requires fewer staff and food for preparation.

Consequently, farming and food-distribution families cut their expenditures, further depressing demand. There are fewer requirements for goods all along the supply chain, The UK Knack Group explains.

UK Knack Group provides an example of a economic turnaround as well. An office experiences a sudden increase in demand for its services and recalls some staff.

These staff now have higher expenses related to going to work every day such as commuting costs, updating career attire, and buying meals outside the home. Transportation companies, shops,and restaurants experience a higher level of business and call back unemployed workers.

At each level, more staff put more money into circulation and everyone wants to buy something, often at a higher price than before. Credit cards, a form of borrowing, are used to pay for goods and services.

Restaurants and shops may borrow money to meet short-term current expenses. Their suppliers extend credit for a few weeks, but they must add a certain percentage as interest. Suddenly, everyone is chasing money, and increased demand, and the cost of borrowing money goes up as well.

The Knack Group UK hopes these illustrations make understanding the interplay between unemployment and interest rates easier to understand.

About Author The Uk Knack Group consists of some of the most experienced professionals in the UK and abroad who have helped thousands of businesses and people to be more successful through Executive Search and Selection, Headhunting, Transitional Outplacement, Executive Career Management and Professional Training & Coaching. www.theukknackgroup.co.uk

What Kind Of Employment For Senior Citizens Is Available

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Is employment for senior citizens available for men and women, and are there any age qualifications to meet? Does a senior have to be in top physical condition, or are infirmities allowed?

Are your carefully laid plans for a pleasant tour, although perhaps not royal, through your golden years seem to be stalling? Will employment for senior citizens be the answer to your dilemma?

You are not alone? The same feeling is infecting your senior citizen neighbor next door, your sixtyish friend down at the retirement center, your old buddy in the bowling league and your aging sister in Buffalo.

The truth is, you have options! We all do. Too often, we seniors tend to feel betrayed by our government and left to fend for ourselves at the mercy of an indifferent panicking society. Scrub away those thoughts!

You are no different than the forty old accountant that was cut loose by his business firm, or the thirty five year old new car salesman who is left to his own devices.

You are just older than them, but you have a lot more going for you than they do. Most of their experiences and trained talents and skills are still down the road in front of them. Yours are spread out in a panorama behind you.

Look back at your life. Now is the best of times for you to make the things you have learned over the years put you up in front of the growing crowd of employment seekers.

If you were to write down all you have experienced, dealt with, learned from, overcame, and grown from, it would fill an entire library shelf.

Don’t you think that from all of this knowledge and living you can find some things that would increase the performance and productivity of an employers business.

Don’t you realize that the sum of all your hands on training and acquired talents and skills would be of great value to some employer?

There are wheelbarrow loads of gold nuggets kicking around in your head, my friend. Grab hold of a few of them and transform them into that perfect job you are now dreaming about.

It is not as hard to accomplish this as you may think!

Here is a valuable gem of knowledge and fact that should stir up the juices inside of you.
Most vacant employment positions are not even advertised!

Whoa! What does this tell you?

There is no competition for these jobs outside of word of mouth. Why? There are many reasons why this is so.

Maybe the job has not been defined by the manager yet, he knows that the need exists but what will he call it? You can step in and give him a definition. Do some advance homework.

A harried business owner is overworked and wishing for a fairy godmother to wave her wand and provide the perfect assistant. Check out the company and tell him how much easier you can make his life, and earn him more profit as a byproduct.

You read an item in the newspaper, or saw it on the TV news, about a business making substantial growth spurts. That is your cue!

Call the company and inform them all the things you can do for them, and let them know you will be stopping by tomorrow, would he or she have time to spend a few moments with you.

Where can you look for employment for senior citizens? In your own head! Take advantage of your own experience and skills.

There are jobs out there waiting for you. Be creative and bold. It
will happen!