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The option to work from home has been shown to benefit employees and employers. This type of flexibility in working arrangements, when appropriate based on the employee’s responsibilities, increased productivity and retention for the employer and job satisfaction for the employee. The same benefits apply to working arrangements that include flexible hours.

As Margaret Heffernan explains in INC Magazine, “Treating employees like grown-ups made it more likely that they would behave the same way.” This treatment includes trust; if you hire the right people, you can trust them to accomplish their tasks and goals on time and under budget without worrying about the time they walk into their cubicle and the time they leave.

ClockIt’s difficult to treat employees like adults, however. At one of my corporate jobs, I joined a team some time after the management hired an efficiency consultant. The consultant sat with each employee and monitored and logged every minute of each employee’s work day in order to determine opportunities for improvement in productivity. After the study, productivity might have increased, but it most likely didn’t last long. Employees resented the requirement of tracking every minute of their days.

Around the same time, one of the supervisors made a habit of walking the floor at nine o’clock in the morning to see who was at their desk on time every day. This type of micro-management benefited the supervisor, and perhaps it gave her a feeling of control, but the employees resented the approach, even if they were at their desks on time each morning. Even when arriving on time, the employees would need to be at their desks at the moment the supervisor walked by rather than in the rest room or the kitchen area.

Thankfully, this supervisor was no longer with the team by the time I accepted my position.

A policy that includes flexible hours gives employees ownership of their roles and allows them to make decisions about the best time to do their jobs. The right people can handle these decisions without taking advantage of the employer or the flexible policies.

A flexible working hours arrangement can take a variety of forms:

  • forty hours every week spread over four days instead of five
  • eighty hours every two weeks spread over nine days instead of ten
  • eight hours every day starting earlier or later than nine o’clock

This type of flexible working arrangement may increase productivity. Happy employees tend to be better employees, and they stick with the company longer. Long-term loyalty to a company has decreased over the years due to many changes in the relationship between employers and employees, but a policy involving flexible hours and other benefits can help reverse that trend.

Work/life balance isn’t always appropriate. I am always torn with this concept, because different goals require different treatment. When I worked for a small non-profit organization whose lofty goals were difficult to achieve on a tiny budget and a lack of resources, the expectation was to put our lives into our work. The only way to achieve greatness is to be completely dedicated to the mission, and that required making many personal sacrifices. Most jobs and careers do not work in this fashion, but in any career, this type of dedication can lead to success.

Work/life balance is a great approach for the cast majority of the American workforce that recognizes that life outside of work is important, but those whose personal mission is to become the best in the world at their job, life is just a distraction.

As a business owner without any employees, I took advantage of flexible hours. When I left my corporate job over a year ago, I experimented with creating a regular schedule for myself, but I determined — and this was something I had known since I was a teenager — that I just work better and more efficiently when I have the flexibility to work when I like.

Do you have flexible working hours at your job? Is it beneficial or detrimental to your group? If you work flexible hours, have you seen any personal benefits?

INC Magazine, American Psychological Association, Forbes

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For those in the United States, tradition and media influence have established today as a day for spending time with family, over-eating, and watching television. What could be more American than Thanksgiving Day?

Fast becoming a tradition for consumers is Black Friday (and to a lesser extent Cyber Monday). Retailers have discovered a tendency to for consumers to use the day after Thanksgiving as the perfect time to finish shopping for the holidays. With this observation, the stores compete with each other to grab shoppers’ attention with the goal of having customers depart with as much as their own cash as possible.

Tips for saving money on this holiest of holy consumer days are plentiful. Boiling down the most typical advice, consumers should pay attention, prepare with as much information as possible, stay focused, and get out or online early. For more solid tips for shoppers who are determined to spend money, take a look at The Insider’s Guide to Black Friday Bargains, an article I wrote for PC World.

But even the best advice ensures that you will spend more money. Retailers are happy with bargain hunters because they will spend more in the long run.

There are two paths for the informed citizen:

Path 1: Accept you are one small piece of a larger economy and admit that despite finding bargains, you will spend more money this holiday season than you probably should.

Path 2: Resist the desire to spend spurred by society and spend nothing.

Buy Nothing Day is the anti-consumerist “holiday” promoted by Adbusters. While it is “celebrated” on the Friday following Thanksgiving Day, the movement encourages focus on a larger issue than fighting against retailers who market to us 24 hours a day.

In a consumption-based society, we are draining the planet of its natural resources. Simply refusing to take part in Black Friday festivities will have little effect on the companies or the world. Buy Nothing Day should offer us a chance to look at the relationship humans have with the planet and look for room for improvement.

Use this winter, with the economy deteriorating and leaving many people with less money to spend anyway, as a chance to re-evaluate the way you celebrate the holiday season. Rather than buying CDs and DVDs, plastic toys, and electronics, all which will sit in landfills for thousands of years before breaking down after their usable life has ended and sometimes contain dangerous chemicals, discover new ways to share your love with family and friends.

One tip outweighs all others for Black Friday and the holiday shopping season at large: buy less. Buy intelligently and find your bargains, but use this year as an opportunity to rethink the way you approach holidays sponsored by retailers.

While you’re at the dinner table with your family today, use the friendly atmosphere to discuss whether a new approach to the gift-giving season could apply to your holiday experience.

Read more:

Photo credit: Hey Paul

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HSBC Banking Network Down

This article was written by in Banking. 6 comments.

Reports are coming in with many HSBC customers around the world experiencing declined card transactions, no website access, and no phone system. HSBC’s network in the UK is apparently unavailable at the moment, and other areas may be affected throughout the world. HSBC is the largest bank in the United Kingdom, and all HSBC card transactions are being declined. ATMs are inoperative. The institution’s online banking system is unresponsive. I had no problem accessing the HSBC Advance website in the United States, but I’m no longer a customer so I have no account to view.

The news is getting out through Twitter. Here are some recent comments:

  • “As an #hsbc customer, I’m glad I got my money out yesterday. Check out the hashtag for tales of woe. A new kind of bank crash. Ouch.”
  • “Their Secure Key was not enough – HSBC have obviously decided to move online banking to ultra-secure mode. #hsbc #fail”
  • “The end of Capitalism has begun, HSBC network down! Get into your bunkers people, this is not a drill! #Bankpocalypse”
  • “HSBC, I think you should know; you made me look a right fool in that Café when my card was declined.”

According to the BBC, the bank is aware of the issues and is investigating the problem. Are you affected by the HSBC networking downtime?

Update: The problem affecting HSBC’s systems, including ATMs, transactions, and phone access, has been resolved. “We are very sorry for any inconvenience this may have caused our customers, and will ensure that no customers are impacted financially. We have now cleared and processed all payments.”

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The Security and Exchange Commission (SEC) has advised the managers of super-secret hedge funds, investments of the most wealthy, that they will soon need to disclose more information to the regulators. Highly leveraged hedge funds contributed to the economic collapse, but the pressure to increase oversight has been mostly ignored by the industry. In response to heavy lobbying by the industry, the SEC has scaled back the requirements the commission intended to issue, leaving softer regulation likely to be ineffective.

Hedge fund managers like to keep their operations secret. If managers were required to report underlying investments, trades, and strategies, they might be at a disadvantage. Like a patented formula for creating pharmaceutical drugs, hedge fund managers rely on their proprietary operations to ensure no imitators and no rogue competitors using their strategies to cause them to fail. Most fund managers need to report their funds’ financial details publicly, with statements that outline the funds’ holdings, risk profile, expenses, and strategy. Hedge funds do not have this requirement.

The new SEC regulations allow hedge funds to file a minimum amount of data pertaining to the investments, and the filing will not be available to the public. Only a small committee within the SEC will be privileged enough to see the information. Additionally, only hedge funds with $1.5 billion in assets will be required to report the most detailed information to the SEC. Funds with over $500 million in assets need only report the extent that the investments are leveraged. Hedge funds with $150 million in assets or left will not be required to report anything.

The required reporting, which grows out of the financial crisis three years ago, is meant to allow financial regulators to monitor the risks that the funds may pose to the nation’s overall financial system, something that officials at the Federal Reserve, the Treasury Department and the S.E.C. did not have during the crisis.

By focusing on the largest hedge funds, it may seem like the new reporting requirements will achieve this goal of monitoring and evaluating systemic risk. Considering that the largest hedge funds can still get away with reporting vague information about their underlying investments, the SEC may still miss big risks.

Should hedge funds be subject to the same scrutiny as publicly traded companies? Does the idea that very few investors take advantage of hedge funds release these managers from public accountability?

New York Times

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EverBank Checking Account Offering $60 Cash Limited Time Bonus

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As I’ve pointed out recently, banking customers have grown accustomed to the concept of free checking. Thanks to profits in the banking industry from a variety of sources, banks could justify offering checking account services, including debit cards, without charging any fees. The industry has changed over the past year, and many banks, particularly large ... Continue reading this article…

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Earn 6% APY With the Mango MasterCard Prepaid Card

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The Best Online Checking Accounts, February 2012

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As consumers grow increasingly frustrated by the checking account options offered by traditional banks, more are seeking out the best online checking accounts for better interest rates and service. Large banks like Wells Fargo and Bank of America are continuing to add fees, such as debit card fees, and are not concerned with scaring the ... Continue reading this article…

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Is Following Your Passion a Luxury?

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The concept of turning your passion into a vocation, making a living doing something you love, easily generates two opposing viewpoints. I wouldn’t say I’ve had a privileged upbringing, but it depends on the perspective. I had the freedom to explore a variety to activities to help nurture my mind, soul and body. As a ... Continue reading this article…

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