Michael F. Yates & Company, Inc.
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HELPING MANAGE YOUR COMPANY'S MOST PRECIOUS RESOURCE
                     ...from the HR Perspective
Human Resource Update August 2009 
In This Issue
Passwords ... DUH!
Global Health Update
International Benefits
Sabbaticals
Track Government Spending
Plan Reporting Calendar
Time Management


Fix Those Terrible Passwords!

 

Do you use the same or similar password for several different websites? If you don't, congratulations! If you do, you are not alone.

 

Do you change your password every 30 days? We all know it is bad to use the same password for different sites but we all do it anyway. Most passwords follow a pattern. First, people choose a full word as the base for their password (for example your first name), when told to add a number or a symbol to make it more secure most people add a 1 or ! to the end of that word. Remembering different passwords can be annoying and writing them down to help you remember them can be unsafe.  You do not have to keep unique passwords for every site you visit but reserve your strongest most distinct passwords for the sites that have your most valuable information - your computer, your bank account and your email.           

 

A few rules to help make your passwords safer are: choose a password that does not contain a readable word, mix upper and lower case, use a symbol or number in the middle of the password, do not use 1 or !, change your password regularly, never write them down or email them to yourself and use different passwords for sites you visit regularly.  While this all might sound difficult and time consuming, it does not have to be. Here is a trick to create passwords that are almost impossible to crack but still easy to remember. Start with a memorable phrase, for example: I enjoy reading this newsletter Monday morning at 10:00 AM. After you select your memorable phrase, turn it into an acronym. The above example becomes: IertnMm@10AM.  Another example would be: Michael F Yates & Company is here to help manage your company's most valuable resource, which turns into: MFY&Cihthmycmvr. It will be pretty hard for hackers to figure out those passwords yet they are easy to remember!

"WORTH REPEATING"

Bottoms UP!

From the BBC

People are drinking more alcohol by "stealth" because of the stronger drinks on the market, an analysis of consumption in the UK suggests. The amount of alcohol consumed per person has risen by 10% since 2000 - despite drink sales remaining steady.

Researchers Mintel said wines and lagers were becoming stronger and people were unaware of the changes.
 
It comes as latest figures show a third of men and a fifth of women drink more than the recommended daily limits.

The NHS recommends a limit of three to four units of alcohol per day for men, and two to three units for women.
Consumers have limited information to help them make healthy choices about their alcohol consumption
Don Shenker, of Alcohol Concern

Mintel carried out its own surveys as well as using data from a range of sources including the NHS and sales information from shops, bars and pubs to compile its report.
Binge drinking among the young is often blamed for growing alcohol consumption, but the Mintel research showed those drinking at home were the group which saw the greatest rise.
Moreover, in a sign that binge drinking may be becoming less socially acceptable, 22% fewer 18-24-year-olds agreed with the statement, "the point of drinking is to get drunk" than did five years ago, the report added.
In total, drink sales have hardly changed since 2000, but the amount of pure alcohol consumed has risen by nearly a tenth from 8.4 litres per year per person to 9.2 litres.
The report said the changes were likely to be down to the stronger drinks that were on sale. The alcohol content of wine is now normally around 13%, while in the past it would have been closer to 11%.
Premium 5% lagers were also becoming more popular.
Jonny Forsyth, a senior drinks analyst at Mintel, added: "It may be that the majority of consumers are not aware of ABV (alcohol by volume).
"So despite a greater societal concern with being healthy leading to a decline in drinking penetration, by stealth we are drinking more pure alcohol than ever."
Labelling
The government has attempted to encourage greater awareness of the alcohol content of drinks throught the Know Your Limits advertising campaign.
Manufacturers have also been encouraged to provide labelling on drinks.
But Don Shenker, chief executive of Alcohol Concern, said: "Consumers have limited information to help them make healthy choices about their alcohol consumption.
"There is often no information about units and even rarer information about sensible drinking levels on the labels of alcohol products.
"The increasing strength of wines and beers means we are often drinking at harmful levels without realising it."
He also said there should be more lower-strength drinks on the market for people to "enjoy without harming their health".
"With alcohol consumption being linked to more than 40 different diseases or conditions surely the drinks industry has a responsibility to provide clear information and a greater choice of lower strength beers, wines and ciders which people can enjoy without harming their health." 
 

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HR management's role during a recession is:
* To optimize the manpower strength.
* To take strategic initiatives to increase the productivity and efficiency of the entire organization.
* To work on compensation and benefits.
* Redesign training and development programs.
In addition HR Management has to find some innovative solutions like identifying the real key employees and to intact them in the organization. Another goal should be to identify those with real potential and to strengthen their development program.

Why I am positive.
The positive news is that people are generally active and focused rather than passive and reactive.  People are less interested in abstract concepts like "recession" and much more interested in "what they are going to do".
Folks seem to have their eye on the ball and are questioning the budget deficit, and additional governmental spending.For young people, recession is not a bad memory. They weren't here during the last one. For those whose basic needs are met, an  economic downturn could be an adventure for younger folks. It may mean continuing education, a detour into a career that was never intended, working at more than one job or as an independent contractor. The general outlook seems to be how soon are we going to come out of recession - rather than if we will come out of recession. That is a significant and positive difference!
 
I hope that our newsletter will be of help in your organization and your life. We will try to cover as many of the vital changes we are all experiencing. Please feel free to comment and/or ask a question at any time. We offer this timely information as another benefit of your relationship with our company. If you feel a friend or colleague would benefit from receiving our newsletter, please feel free to forward a copy.

 
Best Regards,
    Mike
Michael F. Yates
President

 PS: You can view all of our newsletters by clicking the 'newsletter archives' link at our company website (www.mfyco.com).
______________________________

International Benefits 
 

France's New Continuation of Benefits Requirements

    
     The provisions of France's 2008 National Collective Agreement (2008 NCA) that extend employer sponsored health, life and accident benefits to former employees receiving unemployment benefits will become effective on July 1, 2010.  Under the 2008 NCA, employers are required to continue to provide benefits for up to nine months after an employee leaves employment.  If the employee received employer sponsored health, life or accident benefits while employed, the former employer is required to continue the benefits under the same terms and financing conditions as active employees who are receiving the same benefits.  The former employer, or the insurer, must provide the employee with information that includes a description of the conditions of the continuation of benefits.
Employees who (1) resign for personal reasons; or (2) are terminated for economic reasons of the employer; or (3) are part of a collective dismissal; or (4) are terminated by mutual agreement; or (5) reach the end of a term contract are eligible for the continuation of their health, life and accident benefits.  The only exception is employee's who are terminated for gross misconduct.  Employee's must have been eligible for and receiving the benefits in question when employment was terminated and must be receiving unemployment benefits.  Terminated employees can waive the right to the continuation of benefits, but this waiver must be in writing and must be done within 10 days of the termination of employment.

     The benefits must be continued under the same terms and financing conditions as active employees receiving the same benefits.  If employee contributions were required while the employee was actively employed, then the employee must make all contributions toward the continuation of benefits.  The contributions may be withheld from the last paycheck, but if the employee is re-employed before the end of the continuation period the former employer must refund any unapplied employee contributions.  Contributions must be made for all applicable benefits, employees cannot individually choose which benefits to continue.  An employee's failure to pay required contributions in a timely manner results in immediate cessation of the continuation of coverage.

     The new continuation of benefits goes hand and hand with Article 4 of France's 1989 "Evin Law", which allows former employees receiving retirement pensions or permanent disability pensions to continue the benefits coverage they enjoyed while employed.  Former employees receiving retirement or disability pensions can request to continue their health and accident coverage, but they must make the request within six months of the end of their active employment.  Under Evin Law, continuation of supplemental health and accident coverage is available and employees cannot be subject to a probationary period or medical evaluation, and the company coverage can be maintained (by mutualization) or the insurer can offer the same policy terms as an individual cover.  Under the Evin Law, employers are not required to make contributions toward the premium, but the premium of the continued coverage cannot be higher than 150% of the premium paid by active employees.

Sabbaticals 


A Sabbatical means (from Latin sabbaticus, from Greek sabbatikos, from Hebrew shabbat, i.e., Sabbath, literally a "ceasing") a rest from work, or a hiatus, often lasting from two months to a year.
 


In recent times, "sabbatical" has come to mean any extended absence in the career of an individual in order to achieve something. In the modern sense, one takes a sabbatical typically to fulfill a goal, e.g., writing a book or traveling extensively for research, volunteer work, or additional schooling.
Why should we consider Sabbaticals for our employees?  Does it make sense?  Employers will find that by implementing a sabbatical program they will be able to:
� Avoid layoffs - an unpaid sabbatical can be used as a short term strategy to save money while retaining key workers.
� Preserve and protect human capital by motivating and inspiring employees - employees are excited about their time away to do or achieve something they would not be able to accomplish without the sabbatical benefit and they don't leave because they would be giving the chance up.  Employers are not only safeguarding their employees on sabbatical but they are furthering the careers of those co-workers who fill in.  The individual who steps up and does that senior person's job is getting a greater opportunity.
� Nurture creativity and innovation - A paid or unpaid sabbatical may rejuvenate employees, spawn fresh ideas and new skill sets or talents, or inject the workplace with new vitality upon returning.
� Become a talent lure - In this weakened economy when flexibility, reduced hours, telecommuting and job sharing have been utilized to assist employees and employers with rising overall costs.  Sabbaticals are now being seen as a way to keep the "star" performers.  Unlike less poor performers, "stars" will look elsewhere if their pay is frozen or not increased.
� Increase loyalty - Companies that treat their employees well in difficult times will see their considerations reflected in their staff's loyalty and general goodwill.
Although there is a cost, since employers are losing the employees productivity for the time away, it more than makes it up in terms of the retention benefits. Lets say you established a policy where you allow a sabbatical to be taken once after every 5 years of service,  it would mean that you would be adding two years to the employees time with the company since the employee would not quit within the 2 year period surrounding the sabbatical. Why?  Because the employee would not want to miss their opportunity to venture off and accomplish their goal with no fear of job loss.
Some points to consider when starting up the program:
� Length of sabbatical,
� Company compensation determination,
� the sabbatical's educational focus,
� Outline of how employee's responsibilities will be handled during the sabbatical time and
� The application process.
A good sabbatical program will be contingent on the positive evaluation of the following considerations: the validity of the employee's proposed objectives, the soundness and practicality of the sabbatical plan, the candidate's capability to successfully complete the proposed plan, the costs and benefits to the company and its program and the benefit to the individual and the company.

 
about MFYCO ...

  • Michael F. Yates & Company, Inc. can help you with a variety of services ranging from retirement plans to providing results-oriented survey instruments, training and development programs for your employees. Our products and services are intended to help you maximize the effectiveness of your Human Resources function.

  • These products and services incorporate our years of experience so that you receive rapid results and exceptional value. From onsite consulting, to strategic business integration, to Web enablement, we understand how Human Resources can be applied to solve your problems and achieve your goals. As a result, we can help you get the most out of your investment and turn your most precious resource into a competitive advantage.

  • We offer Consulting, Retirement Planning, Pension and 401(K) both qualified and non qualified Plans, Welfare Plans, Communications, Computer Systems, Executive Plans, Compensation, Mergers, Acquisitions, Divestitures and Other Services. 

    We offer a true and honest, Client Partnership.

Take the Michael F. Yates & Company, Inc. challenge!

 
mh group
 
How to Track Government Recovery Spending
 ...
 
"The Board shall establish and maintain...a user-friendly, public-facing website to foster greater accountability and transparency in the use of covered funds. The website...shall be a portal or gateway to key information relating to the Act and provide connections to other government websites with related information." 

 
Plan Reporting Calendar


2009 FILING DUE DATES FOR
CALENDAR YEAR PLANS
 
This calendar is not intended to be an exhaustive listing of every due date under the Code or ERISA, but rather reflects some of the most common due dates.

View Calendar

 

 
Our staff
and firm are proud

members of the
following professional
organizations.

Society of Actuaries 

American Society of Pension Professionals Actuaries

Society for Human Resource Management

American Management Association

National Federation of Independent
Business

Better Business Bureau
 
 
 
MFYCO PRIVACY POLICY



Michael F. Yates & Company Inc. believes strongly in protecting the privacy of its users.


 

  
Michael F. Yates & Company, Inc.
_________________
 
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P.O.Box 7
Washington, NJ 07882 
 
908-689-4200

fax: 908-689-6300
Cash for Clunkers ...

Cash for Clunkers was a success, according to government employees, as many dealerships wait for their money

The government-led Cash for Clunkers program officially ended on last Monday, with sales numbers and financial results related to the program still trickling in.
To date, auto dealerships have submitted 690,114 vouches -- totaling $2.88 billion -- of the $3 billion allotted for the nationwide program.  Many dealerships are still waiting to receive monetary compensation from the government, but federal officials say they just need to be patient.

The top five cars purchased through the program were the following: Toyota Corolla, Honda Civic, Toyota Camry, Ford Focus, and Hyundai Elantra.  The top five vehicles traded in for new vehicles:  Ford Explorer 4WD, Ford F-150 Pickup 2WD, Jeep Grand Cherokee 4WD, Ford Explorer 2WD, and Dodge Caravan/Grand Caravan 2WD.

Furthermore, the average American who made use of the program added 9.1 miles per gallon fuel efficiency in the new vehicle.  The average clunker gas mileage was 15.8 miles per gallon, while the new-vehicle mileage was 24.9 miles per gallon.

Even though the auto industry received a sales spike, the increase is expected to be short-lived, auto analysts claim.  In July, auto sales increased to 11.2 million -- the first month in 2009 when it went above 10 million.  Sales plunged towards the end of 2008, as consumer confidence dropped like a rock, which is one of the reasons Cash for Clunkers was created.

The increased auto sales in July will help increase economic growth in Q3 by 0.3 or 0.4 percentage points, government officials recently estimated.

President Barack Obama's administration applauded the program, saying it has been a success, despite some major setbacks along the way.




HR Cat
Time management ideas? 
 


You probably know that effective time management will help you get more done each day. It has important health benefits, too. By managing your time more wisely, you can minimize stress and improve your quality of life.  
 

  • Plan each day. Planning your day can help you accomplish more and feel more in control of your life. Write a to-do list, putting the most important tasks at the top. Keep a schedule of your daily activities to minimize conflicts and last-minute rushes.
  • Prioritize your tasks. Time-consuming but relatively unimportant tasks can consume a lot of your day. Prioritizing tasks will ensure that you spend your time and energy on those that are truly important to you.
  • Say no to nonessential tasks. Consider your goals and schedule before agreeing to take on additional work.
  • Delegate. Take a look at your to-do list and consider what you can pass on to someone else.
  • Take the time you need to do a quality job. Doing work right the first time may take more time upfront, but errors usually result in time spent making corrections, which takes more time overall.
  • Break large, time-consuming tasks into smaller tasks. Work on them a few minutes at a time until you get them all done.
  • Practice the 10-minute rule. Work on a dreaded task for 10 minutes each day. Once you get started, you may find you can finish it.
  • Evaluate how you're spending your time. Keep a diary of everything you do for three days to determine how you're spending your time. Look for time that can be used more wisely. For example, could you take a bus or train to work and use the commute to catch up on reading? If so, you could free up some time to exercise or spend with family or friends.
  • Limit distractions. Block out time on your calendar for big projects. During that time, close your door and turn off your phone, pager and e-mail.
  • Get plenty of sleep, have a healthy diet and exercise regularly. A healthy lifestyle can improve your focus and concentration, which will help improve your efficiency so that you can complete your work in less time.
  • Take a time management course. If your employer offers continuing education, take a time management class. If your workplace doesn't have one, find out if a local community college, university or community education program does.
  • Take a break when needed. Too much stress can derail your attempts at getting organized. When you need a break, take one. Take a walk. Do some quick stretches at your workstation. Take a day of vacation to rest and re-energize.
 
If you're too frazzled to think about trying any of these tips, it's time to ask for help. Does your life feel totally out of control? If so, contact the experts at Michael F. Yates & Company for advise. A professional time management expert can help make a huge differnce to your company. It's the 'cool' HR CAT thing to do!
 
 
 
 
 "NOTE TO MYSELF"

RobToon



 
 "When I asked my analyst if she knew the true meaning of life she said ... I'll get back to you ... my computer is down!"
FIN
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