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June 18, 2013

Women don't want to be on top

Started from the bottom now we're here.

Unlike the lyrics in Drake's chart-topping hip-hop song, Canadian women are choosing not to be at the top when it comes to their careers.

According to a new survey by the Zeno Group, only 18 per cent of women polled aspire to be the number one leader in a large organization (six per cent) or their own company (12 per cent).

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Is not hiring smokers actually good for business?

There’s been a lot of rumbling recently over the legalities and ethics of employers implementing “no smokers” hiring policies as a means of promoting a healthy work environment and trimming group insurance premiums.

Estimates suggest that employees who smoke cost on average $3,396 more per year than non-smokers in lost productivity, higher absenteeism, and increased insurance.

At one Ottawa high-tech company, not only is there absolutely no smoking on company time, but employees aren't allowed to smoke in their off hours either.

“We drink. We swear. We don’t fucking smoke,” the company proudly declares on its values pages. Light up, and you can expect to hear about it pretty quickly. 

Larger corporations are following suit, it seems. In the US, a number of healthcare companies have instituted no-smoking policies as part of their recruiting strategies, with some going as far as to announce that they would concurrently implement nicotine testing as part of their hiring process.

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June 13, 2013

Big brother is watching you

1984Who knew government surveillance programs could encourage people to read more?

Dystopian classics such as George Orwell's 1984, Aldous Huxley's Brave New World and Ray Bradbury's Fahrenheit 451 have been flying off the shelves since news broke that the United States government has been undertaking secretive surveillance systems targeting phone and internet messages.

As a matter of fact, Orwell's 1984 novel, featuring a totalitarian futuristic society under the watchful eye of Big Brother, is listed as one of Amazon.com's top 200 bestsellers.

We are being watched and followed at every move. Whether, it's us willingly inputting data about ourselves on Facebook, LinkedIn or into the Twitter sphere...our information is out there for everyone to see.

There are surveillance cameras wherever we go. Shopping, offices, workplaces, streetscapes. Then there's Google maps where you can just zoom in on anyone's personal space.

There are even enthusiastic candidates who want to be under the watchful eye of Big Brother, the Canadian TV show, for millions to see their every movement.

And who is out there gathering our data and perhaps using our personal information?

Security is always a concern, especially as we move forward into a cashless society with debit cards, credit cards, swiping and tapping out our information in stores and over the internet.

We're seeing, hearing, and watching world events as they unfold. Not just through news agencies, but now through average citizens with their mobile devices in hand and on the scene at any given moment.

But who is watching the watchers? And what happens when someone does blow the whistle like Edward Snowden, a former U.S. National Security Administration (NSA) contractor?

Remember, Big Brother is watching you.

By Donna Donaldson, MSN Money

What do you think about government surveillance?

Are two household incomes really better than one?

As authors Elizabeth Warren and Amelia Tyagi note in their book, The Two-Income Trap: Why Middle-Class Mothers & Fathers Are Going Broke, the single best predictor of bankruptcy is having a child.

While two-income families make more money today than a one income family did a generation ago, the basics — housing, groceries, taxes, entertainment, and transportation — leave more and more families with less money at the end of the month, they maintain.

More importantly, with both parents in the workforce the chances of someone getting laid off or getting too sick to work doubles.

That's a problem for couples that put themselves at risk by spending to their household income level, rather than taking advantage of that second pay cheque to boost their retirement savings or kids’ college funds.

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June 12, 2013

Your face could launch your career

Ugly people need not apply.

The online dating site www.beautifulpeople.com recently launched an employment listing service exclusively for its members.

And, according to its website, "an attractive face is always a good first impression for business".

First impressions are important. But looks aren't everything. Personality and skill must enter the equation at some point.

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June 05, 2013

Canadians give back to their community

849529_56050596Count me in.

I worked for many years for a non-profit association that relied solely on its volunteers.

Just witnessing the enthusiasm and dedication of the volunteer board of directors and volunteers who worked diligently organizing business and social events was inspiring.

And volunteerism is not only rewarding but it is also contagious. In fact, many people who attended the events often asked how they could volunteer to help out as well.

This group of individuals held full-time jobs yet gave so willingly and selflessly of their time and talents.

According to a new study by BMO Financial Group, 70 per cent of Canadians say they volunteered for a charitable organization in the past year.

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Workers losing ground when it comes to planning for retirement

Not a week goes by, it seems, when someone doesn't produce a new report noting just about everyone's lack of preparedness for life after work. And it's not just those nearing retirement who should be worried.

Research from Prudential Financial shows that one quarter of Millennials (those between 21 and 29) feel that they won't be able to stop working until they are over 70, largely because they can't see how they'll ever save enough money.

The gap between what workers realize they should be doing to prepare for retirtement and what they're actually doing can be largely attributed to a lack of motivation, Prudential suggests.

And that's where employers can help.

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May 27, 2013

New proposals continue to shrink public sector pensions

In case you missed it, last week marked the most recent skirmish in a much larger battle to bring burgeoning public-sector compensation costs under control.

The Ontario Municipal Employees Retirement System (OMERS), the largest pension fund in Ontario , is studying a change that would reduce the key figure used to calculate how much money an employee will receive each year in retirement.

The proposal would reduce the “multiplier” rate now used to calculate when workers would be entitled to full benefit to 1.85% from 2%. Other potential changes include curbs on indexing for inflation and a delay in early-retirement eligibility.

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May 24, 2013

Employers look for personality, skill set when hiring students

298822_6140Students are now winding up their high school and post-secondary education and getting ready to hit the pavement looking for job opportunities.

With almost half of Canadians employers (51 per cent) anticipating on hiring students or recent grads this year, it's good to know just what they are looking for in a candidate.

According to a survey by BMO Bank of Montreal, the candidate's personality trait came out on top with 30 per cent of business owners ranking this characteristic as the one of the most important qualities when selecting a new employee.

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May 21, 2013

Criminal record can come back to haunt

Criminal-Background-CheckThinking of volunteering or seeking new employment?

Well, if you have a previous criminal record you may want to double check that record before your prospective employer does.

According to Pardon Applications of Canada, those Canadians who received an absolute or conditional discharge prior to July 24, 1992 may find they still have a criminal record attached to their name.

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Gordon PowersGordon Powers

A long-time fund company executive, Gordon Powers now heads up the Affinity Group, a financial services consulting firm. Gordon was a personal finance columnist for the Globe & Mail for many years, has taught retirement planning...

Jason BucklandJason Buckland

The modern-day MC Hammer of money, Jason can often be seen spending cash that isn’t his with the efficiency of a Wilt Chamberlain first date. After cutting his teeth as a reporter for the Toronto Sun, he joined the MSN Money team with...