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Increasing Wealth by Going Back to School

Many people recoil at the idea of going back to school. The cost of tuition coupled with chronic unemployment and unpaid student loans among graduates has, for many would-be students, caused them to reconsider a pursuit of higher education. In some ways, this is understandable. Avoiding debt and financial instability is a major priority for many people. However, if you look at your life in the long run, going back to school may actually be the more shrewd endeavor, as it can prepare you for many careers that will simply be unattainable without formal training, careers that will be around for a long time and may open the doors to still more lucrative ones. These include increasingly ubiquitous career paths such as medical billing, web development, and financial advising. Let’s take a quick glance at the relative strengths of these paths for prospective students considering a return to school:

Medical billing. This is an increasingly important job in the healthcare industry that is responsible for submitting claims to insurance companies. It is essentially the facilitation of the relationship between a health care provider and an insurance company. Medical billers reduce the burden of paperwork and the administrative stress put on medical practitioners. Considered an important part of the insurance process, medical billing is expected to continue to carve out a fresh slate of jobs for medical graduates.

Web development. Web development is, in many ways, the equivalent of manufacturing in the 40s, its the fresh face on a near infinite new economic infrastructure that may eventually usurp the revenue generated by industrial sectors. There are a wide variety of career paths in web development: web design, SEO, social media, programming, web hosting, CMS, etc. The list goes on and on. An aggressive pursuit of a web development career is a strong step toward future job stability—and hefty paychecks as well.

Financial advising. Financial advisers are always in demand, by variety of suitors—government agencies, businesses, individuals. Their tools are generally stocks, bonds, mutual funds, real estate, and insurance. Whether you’re “fee-based” or “fee-only”, a career in financial advisement is not likely to be outdated any time soon. A college education in this field will also prepare you for the new electronic frontier of financials that involve heavy online sophistication.

These are just three of the many careers that analysts say have strong job stability moving forward. For students who are considering returning to school but are weary of accruing more debt, it is worth looking at career paths such as these that will lead you into a flexible yet stable future with long term financial benefits.

The rise of Enterprise Social Networks

As social media impacts our personal lives, it also affects us at work as well. It also offers opportunities for the workplace, particularly in larger organizations.

We see everyday what’s possible with social networks for improving customer engagement and experiences? Can the same be done with internal social networks for improving employee engagement and experiences?

In the many years of helping businesses align business objectives with social and new media strategies, there is one thing that always introduces difficulty into the equation, employee engagement. At some point in the development of any strategy, employee and stakeholder input is critical to ensure relevance and ultimately success. While social media may more often than not live in the marketing department, it affects the entire organization and as such, requires a centralized approach to leadership and management combined with a distributed platform for communication and learning.

Enterprise social networks (ESNs) are on the rise as they can deliver an immediate solution for aligning stakeholders around activity streams with the familiarity of Twitter or Facebook. These internal social networks are not only validating and useful to power users, but also friendly and easy to participate in for those who are new to the platform. While the promise of ESNs is significant to the future of how employees interact, learn, and ultimately work, challenges exist around adoption and overall measurement. And, like social media in general, businesses often underestimate or altogether miss the true potential of social networks and the role they play in bringing people together to do something incredible…over and over.

Read the whole article as it lays out the many benefits for connecting your team through an internal social network.

Good news continues on jobless claims

The good news on jobs keep coming.

New U.S. claims for unemployment benefits were unchanged last week, holding at the lowest level since the early days of the 2007-2009 recession and giving a fresh sign the battered labor market is healing.

Workers filed 351,000 initial claims for state unemployment benefits, the Labor Department said on Thursday. The prior week’s figure was revised up to 351,000 from the previously reported 348,000.

The last two weekly readings have been the lowest since March 2008. The four-week moving average for new claims, a measure of labor market trends, fell 7,000 to 359,000 —also the lowest since March 2008.

Get that resume out again!

The need for skilled factory workers

There are plenty of factory jobs opening up as the economy recovers, but employers are having trouble filling them.

What’s missing are the skilled workers needed to fill them.

A metal-parts factory here has been searching since the fall for a machinist, an assembly team leader and a die-setter. Another plant is offering referral bonuses for a welder. And a company that makes molds for automakers has been trying for seven months to fill four spots on the second shift.

“Our guys have been working 60 to 70 hours a week, and they’re dead. They’re gone,” said Corey Carolla, vice president of operations at Mach Mold, a 40-man shop in Benton Harbor, Mich. “We need more people. The trouble is finding them.”

Through a combination of overseas competition and productivity gains, the United States has lost nearly 4 million manufacturing jobs in the past 10 years. But many manufacturers say the losses have not yielded a surplus of skilled factory workers.

Instead, as automation has transformed factories and altered the skills needed to operate and maintain factory equipment, the laid-off workers, who may be familiar with the old-fashioned presses and lathes, are often unqualified to run the new.

Compounding the problem is a demographic wave. At some factories, much of the workforce consists of baby boomers who are nearing retirement. Many of the younger workers who might have taken their place have avoided the manufacturing sector because of the volatility and stigma of factory work, as well as perceptions that U.S. manufacturing is a “dying industry.”

“Politicians make it sound like there’s a line out front of workers with a big sign saying ‘No more jobs,’ ” said Matt Tyler, chief executive of a precision metal company in New Troy, Mich. “Nothing could be further from the truth.”

This is one of many reasons why job training has to be a priority for government spending. We need more skilled factory workers, along with more engineers.

If you’re looking for a job, keep this in mind. With some training you could land a well-paying job in manufacturing.

The value of your major in college

This is a very controversial topic. What should you have in mind when choosing a college major?

On the one hand, it’s very important to study something you enjoy. If you do that you will likely excel or at least do better, and then you can think about how to turn that degree into a career. If you love English or History, this thinking says you should pursue these majors.

On the other hand, particularly if you’re taking out big loans, to what extent is it important to study something that will lead to an actual career? Majors like engineering and accounting come to mind.

This article examines the topic from the perspective of turning your major into a career.

The student might say, “English,” “psychology,” “political science” or “engineering.”

And then, in my mind, after factoring in some other information, I say to myself “job” or “no job,” depending on the major.

An English major with no internships or any plan of what she might do with the major to earn a living? No job.

A political science major with no internships that could lead to a specific job opportunity? No job, I think.

Engineering major with three relevant internships in the engineering field? Ding. Ding. We have a winner. Job.

Read the entire article.

In one sense, it tilts too far to the career area. Yet it brings up an important point. Too many college students have no idea how they can earn a living after college, and WAY too many of them are taking out huge loans and then selecting majors that will make it very difficult for them to repay those loans whiles earning a living.

The bottom line is that all factors have to be considered. I think it’s important that college students pursue an education. College has to be much more than just a vocational program.

Yet you have to have common sense. Maybe you can get that English degree at a great public university instead of a small liberal arts school that costs $50,000 per year. This way if you decide that grad school makes sense for your career after you get that English or History degree, you’ll be in a much better position financially to make that decision.

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