| Paragon's Craig Selders promoted to President of Paragon Relocation |  | |
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Message from Paragon CEO, Joseph Morabito
Continuous Improvement at Paragon
 Paragon is committed to a continuous improvement process to create a better service experience for our clients and customers. As a result, we are spending a considerable amount of time and resources reviewing all aspects of our service elements to better understand things like response time, follow-up procedures and appropriate metrics to measure success. In addition, we have also under taken a complete review of all job descriptions related to those Paragon employees who directly touch our clients and customers, as well as the support functions necessary to our service implementation. Once completed, we will implement additional training to make certain that all our employees fully understand their roles, responsibilities and the new quality metrics in order to improve our services. To read more about our Continuous Improvement Initiatives, click here.
New Service: Pre-Decision Consulting
As our services continue to evolve in a never-ending process of improvement, we are now offering Pre-Decision Consulting Services implemented by Paragon Decision Resources, the consulting arm of our company. This is happening because we have clients who often implement more of a flexible benefits approach to relocation services and/or, specific to new hire candidates, a more tailored program than typical fixed plans. Since this approach usually involves 2 hours of consultation for a US Domestic Renter and up to 4 hours of consultation for a US Domestic Homeowner or International move, it cannot be done as part of our normal fixed plan authorization process. Pre-Decision Consulting Services often include an in-depth needs assessment, ordering of a broker market analysis to determine home value, consultation with client management as to plan design options, cost projections for budget purposes, development of an offer letter if required, policy counseling and then authorization into our relocation services. PRISM 2.0 Update
We are very excited about the roll out of PRISM 2.0, the new and improved version of our automated Operations and Client/Customer Access system that will be completed by year end for most Paragon clients. We are carefully implementing a migration process from our old system to ensure a smooth transition. This new system will provide access to a broad variety of standard reports, as well as a means for custom reports through an ad hoc report writer feature. Our goal is to provide a high-touch, high-tech service experience for both our clients and customers. To read more about our PRISM 2.0 functionality, click here. Location, Location, Location
We continue to grow our operations overseas. I am pleased to announce that by year-end we will establish Paragon Relocation - France to add to our Operations in The Netherlands, Great Britain, Ireland, Spain, Switzerland, South Korea, Hong Kong and the US. In addition, we are in the process of establishing a wholly-owned company on the mainland of China in Beijing to allow us to do business in China as Paragon Relocation, which also should be in place by year-end. Discussions are also under way to add to this list of countries as we extend the Paragon brand around the world. We also have affiliates in 150 countries. We're on the Move
Last year we moved into a new, expanded office location in Hong Kong. This year we will move our Danbury, Connecticut office to a new location. And, by next January, 2011, we will move our Dallas, Texas office to a new 23,000 square foot location to accommodate our growth in the US. Introducing Paragon GeoImmigrationSM
To better support international relocation, we have established Paragon GeoImmigration, managed from our Dallas, Texas office in the US and Dublin, Ireland operations overseas to provide worldwide visa and immigration services. In doing so, we can provide single point of contact, cost effective visa and immigration services, including client and customer computer access to information to track all aspects of the immigration process. This new subsidiary will provide better, more consistent service and cost savings for our clients. To visit the Paragon GeoImmigration website, click here. In Conclusion
Even though the last few years have been challenging to say the least, I am pleased to report that Paragon is financially sound and moving forward on many fronts to improve and add to our service capabilities. Our talented and dedicated staff members continue to remain focused, disciplined and passionate in providing services for our clients and customers. While there are various external factors impacting our company and our clients that we can't change, we are diligently working on all the things that are under our control and that we can change to improve our services. Most importantly and as always, we are thankful to our clients for their continued patronage and support. |
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Mortgage Minute by Steve Crispin
Steve Crispin | With the stabilization of the financial markets after the near meltdown of 2008, the mortgage industry has faded from the news in favor of other matters related to the world economy. However, the mortgage industry is still experiencing a heightened pace of change in reaction to the US real estate market. Borrowers who have not obtained a mortgage since before the financial meltdown, and even those who have not obtained one over the past 18 months, will face a different, regrettably more onerous, experience. Some examples of the more recent changes to the mortgage guidelines include:
- Higher down payments are required for those market areas deemed as "distressed markets"
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Financing for condos is especially difficult as lenders will restrict lending in certain condo developments based on overall occupancy, owner occupancy, quantity and amount of delinquent HOA dues and reserve levels of HO associations, among other factors
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FHA guidelines are not immune to these changes either, as FHA lenders raised the minimum credit score required and have raised the cost of FHA premiums across the board
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Guidelines are more restrictive as it relates to DTI (debt to income) ratios. Said differently, a higher income level will now be required to obtain any given loan compared to a year ago
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Borrowers are also expected to have higher reserve levels (home equity, investments, etc.) than before
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The items noted above, and others, are also true for Primary Residence purchases, refinances, and second home/non-owner occupied homes as well
Now, given this, the news is certainly not all doom and gloom. Mortgage rates are substantially lower than they have been in decades. As of September, they appear to have reached an equilibrium with no clear movement up or down. This means that for a significant percentage of homeowners out there, this is still an outstanding time to refinance. If a borrower can qualify based on the more stringent criteria, some of which are indicated above, the chances are that borrowers can save significant amounts of money by choosing to refinance. |
 PRISM 2.0 PRISM 2.0 is currently being utilized by several of our clients, including Boston Market, Dematic, IDT and Hyundai. Our IT department is working with these clients to perfect the system before on-boarding our other clients in 2011. Paragon's Consultants find PRISM 2.0 more efficient because it combines three systems into a new, user-friendly application. PRISM 2.0 not only promotes a paperless environment and offers an improved client interface, it helps clients with the following:
Online Authorization Process
The client can elect policy and optional benefits/exceptions for each employee.
Multi-layered Dashboard Data
The client can view relocation data graphically, by line item and then even the micro detail for each line item, which allows them to track each transferee's relocation more closely.
Approval Routing
The client has the ability to electronically send a cost estimate to the appropriate personnel, which streamlines the approval process.
Dashboard Customization
Clients can customize the way PRISM 2.0 displays information to fit their specific needs.
Improved Online Expense Entry
Improved expense tracking and reporting allows clients to receive more details about individual employee expenses. Clients can also map expense entry items to their policy.
Improved Relocation Status Tracking
The client can view each individual step in a specific relocation and monitor where the transferee is in the process.
Detailed Homesale Information
Clients now have the ability to view documents such as appraisals, inspections and broker market analyses, which help to organize the homesale process.
Improved Notes Section
Clients can sort notes by time, date, subject, attachments, etc. to find specific information more quickly and efficiently.
PRISM 2.0 offers clients a more robust online system and assists the client in overseeing and managing their relocation program in one centralized location. With PRISM 2.0, not only do we offer the best customer service and relocation program management, we offer the best-in-breed technology to our current and potential clients. |
Continuous Improvement Initiatives/President's Council
In an effort to enhance client relations, Paragon Relocation announced the creation of the President's Council. Craig Selders, President of Paragon Relocation, will be hosting a quarterly open forum presentation to directly interact with client contacts. The council meetings are structured to provide a brief overview of industry changes and trends, along with Paragon-specific updates. After the presentation, the session is expanded into an interactive dialogue with Paragon's President to address any questions, suggestions or  concerns. The first President's Council will be held October 26 at 10:00 am CST.
The President's Council is part of an overall company-wide continuous improvement initiative in which Paragon is implementing ideas and suggestions from our employees, clients and customers. Employees were asked to submit innovative ideas and suggestions to improve Paragon's service to clients and make Paragon an exceptional employer of choice. Employees earned $100 for every suggestion that was implemented.
As a result of employee suggestions, Paragon is implementing change in several core areas.
Operations:
- We are changing our survey process to include a second survey; the first to be issued 30 days after service authorization and a final survey issued after the move has been completed, or at the conclusion of each year on assignment. These surveys will be used to measure performance at critical stages of the process to proactively address any service issues or concerns. We are redesigning customer and client surveys to gather even more meaningful information to better foster process improvement.
- We are adding a line to every employee's e-mail signature that provides the name, phone number and email address of their direct supervisor in an effort to guarantee exceptional service.
- We have added an "Ask a Paragon Policy Expert" link on our website for current and prospective clients with questions regarding their relocation policies to receive immediate attention from our consulting group.
Philanthropy:
- We are establishing a Paragon Cares Community Service Award. This new program will recognize one employee each year for his/her community service to help change lives, or otherwise better their community. This award will be given out in December and the winner will receive a cash price of $500.
- We are donating $5 for every hour that a Paragon employee volunteers at a charitable organization to encourage community activism.
Internal Operations:
- We have designed a Wall of Fame on our intranet and our blog where client compliments and words of praise are displayed on a monthly basis. We collect these comments from our client surveys. Please visit our blog at www.paragonrelocation.com/blog
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Visa and Immigration News
Elaine Martin |
Paragon GeoImmigration Director, Elaine Martin, recently authored an article dealing with the Effect of Restructuring on Foreign National Employees which appeared in the July/August edition of the ACC Docket magazine. To read Elaine's full article, click here. |
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Paragon's Philanthropy in Action
Paragon Relocation recently donated $2,000 to the Boy Scouts of America to help sponsor their "Travel Around the World with Caterpillar and the Boy Scouts" dinner and fundraiser. Deborah Graham, Vice President of Global Client Relations, was on hand to represent Paragon. The event was held at a Caterpillar training and demo site in Edwards, IL. There were many varieties of CAT tractors on display and the Around-the-World theme was carried through the event with stations representing all the continents with food, drinks, dancing or region-specific animals on display. There was also a formal presentation awarding the Boy Scouts' Distinguished Citizen's Award to Caterpillar CEO, Jim Owens. The event was an overwhelming success raising over $400,000 for the Boy Scouts of America. Paragon is excited to be able to participate in such important charitable endeavors.
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Andrew Rees | Employee Spotlight
Recently, Paragon's own Andrew Rees, Director of Business Relations, was featured in the Aperian Global newsletter. To learn more about Andrew, click here. |
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Paragon Events
Paragon has a full schedule of fall exhibitions. Most recently, we exhibited at the 13th World HR Congress in Montreal, Canada on September 27-29, as well as the CIPS (Chartered Institute of Purchasing and Supply) Conference in London on September 23.
Liam Brennan and Barrie Gilmour at the CIPS Conference in London  |
The CIPS conference, attended by Paragon Relocation's Managing Director, Liam Brennan and Director of Global Business Development, Barrie Gilmour, provided a networking forum for global procurement professionals to discuss issues facing buyers today and to promote procurement best practices.
The theme of the conference "Driving Business; Delivering Opportunity; Directing the Future" focused on a wide range of procurement issues incorporating outsourcing processes as well as the financial, legislative and legal aspects of procurements through a mix of keynote sessions and interactive workshops.
We hope that you will join us at the following upcoming Conferences and Exhibitions:
Worldwide ERCŪ, Global Workforce Symposium October 27-29, 2010 Seattle, WA Come by Booth 415 and register to win a great prize!
 CIPD (Chartered Institute of Personnel and Development) Conference November 9-11, 2010 Manchester, UK Come visit us at Booth F70 |
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