Situations at Work 8: Ethical Challenge to Report or Not

I occasionally share situations at work and ask you to share  you comments and opinions

Today’s situation presents an ethical challenge for co-workers. Frequently, people work with others that do not give a full-days work for the salary. Some, in today’s workplace, seem to work extraordinary hours giving their full power the entire time. Others seem to play Angry Birds, connect on Facebook, peruse web sites, and go home early.

Lazy and Deceitful Co-Worker

Ben worked on a skunks works project for the company. The project provided Ben with a high-profile jumpstart to his career. He worked well on the pilot, but collaborating with another division. His assignment expected him to work on his own. It allowed him to discretionary time without supervision. He delivered good results and the pilot became a program.

He created a situation that allowed two bosses to each think he worked for the other. Consequently, no one supervised him. In addition, he worked in two different locations unsupervised. Unfortunately, Ben took advantage of the leniency for personal benefit. He would take off during the day to shop for a new home. He would start and end the day at work, then go home to play with his children and be with his wife.

You work in a different division that also collaborated on the pilot. You recognize what is happening. In addition, you know that he withheld negative side affects of the pilot to make it look good. He is currently encouraging headquarters to invest $70,000 in electronic technology.

Options to Consider

You consider the following options:

• Tell your supervisor who works for a different division than Ben’s
• Report to his supervisor who is your peer in the other division
• Report to the other member of the pilot who is not Ben’s supervisor. Unfortunately, you have a bad past history with that person.
• Do not say anything to anyone, because it is not your responsibility

What Would You Do?

Please share your comments, suggestions, or additional options. We want your ideas.

Wednesday we will share some real successes at work that can inspire your career

Barriers to Retirement 8: How to Remove the Barriers

Several people asked for ideas on how you can remove the barriers so you can retire

My previous posts on barriers to retirement met with concern and dismay. This post provides suggestions and ideas that will overcome the barriers to employment listed in the pervious posts. You may implement the ones you find applicable to your situation. I hope you find them helpful.

Solutions to the Barriers

I will restate each of the barriers and offer 1-2 solutions to each one:

• Vanishing Pensions
  • Consult your human resource or benefits specialist about pensions
  • Contribute at least as much as your employer will match in contribution
  • Add as much extra as possible to your 401K or Roth IRA
  • Identify potential employers that offer pensions, 401Ks, or Roth IRA’s
  • Open a Roth IRA or retirement account through a credit union or bank
• Social Security Uncertainty
  • Plan on other retirement income rather than Social Security exclusively
  • Evaluate your social security benefits regularly
  • Ensure that no one else uses your Social Security number
  • Elect officials that will strengthen and protect social security plans
• Lack of Home Equity
  • Stop refinancing your home in a way that extends your mortgage
  • Do no include additional debt (debt consolidation) into your refinancing
  • Pay additional payments to mortgage principle each month
  • Reverse the trend to buy bigger more costly homes for smaller ones
• Lack of Savings, Lots of Debt
  • Pay yourself up to 10% of your salary each paycheck
  • Avoid credit card debt and pay it off every month if you do
  • Pay cash for as many purchases as possible
  • Use Pinching Your Pennies.com or other methods to save on spending
  • Take a finance class Dave Ramsey, Suze Orman, Clark Howard, or other
• Jeopardized Investments
  • Recognize that the current economic situation will not last forever
  • Get the opinion of 2 or 3 sources before investing financially
  • Diversify investments into bonds, low cap, mid cap, and high cap funds
• Working and Bridging
  • Decide on service opportunities that would interest you
  • Keep your skills current so that your company will still want you
  • Build relationships with people of all ages, backgrounds, and beliefs
  • Exercise and maintain good health practices to remain fit throughout life

Monday we will review additional situations at work to explore ethical questions

Situations at Work 7: Too Much Pressure & Work

I occasionally present situations at work for you to consider and share what you would do

I draw these case studies from real life. Today’s case study shares a situation that many employees encounter these days. Like Enid in the story, many employees face additional challenges and commitments at work. Employers, in order to compete with lower labor costs elsewhere, ask more of their employees than in the past. I would appreciate your observations, comments, and suggestions.

Increasing Responsibilities and Pressures

Enid works in the purchasing department of a large manufacturing company. The company operates multiple plants in a major metropolitan area near the west coast. Her employment for the past six years brought great satisfaction and fulfillment. She saw a great future in purchasing and in the company. In fact, she so enjoyed her position that she obtained an MBA to continue advancing in the field.

The company began expecting more of her over the last year. Several colleagues left the company because of the pressure. The company spread the responsibilities of departing employees among the remaining employees. Recently, Enid had to assume all the responsibilities of another purchasing agent when he left. As a result, she doubled her already overburdened responsibilities. They also forced her to work in two different plants each week.

Enid works an average of 60-70 hours a week in two locations. She remains emotionally distraught. She cries frequently. She barely sleeps. Her appearance worsened recently.

Options to Reduce the Stress

Enid considered several options. Unfortunately, the emotional stress and lack of sleep may affect her judgment and decision making:

• Transferring to a new position in the same company
• Looking for a purchasing job in another company
• Looking for a receptionist job in another big company
• Looking for a clerical job in a small company where she would fill multiple roles
• Just get out of the manufacturing company as quick as she can

What Would You Do?

Consider Enid’s options or add your own. Please share your opinions, comments, and suggestions.

Friday we explore possible solutions to the barriers to retirement to help you retire

David McCullough’s Brave Companions: Inspires Careers

Todays’ post stands alone, not as part of a series other than random thoughts about your job

I’m reading Brave Companions: Portraits in History by the Pulitzer Prize winning historian David McCullough.  Each chapter highlights the career and contribution of specific individuals who lived in the last 100 years. As usual McCullough draws you into the story with simple, yet elegant, prose. His descriptions could inspire your career.

Attitude is the Key

David McCullough writes “Reading about the lives of such great figures…one is struck again and again by how much they accomplished in a lifetime. Where did they find the time or energy…? I wonder if perhaps it was because tuning out boredom had not yet been made so easy as in our day.”

The Men who Built the Panama Railroad

“Here the bravest might well have faltered and even turned back from so dark a prospect as presented itself to the leaders…but they were men whom personal perils and privations could not vanquish.”

The Men and Women who Built the Brooklyn Bridge

“Interestingly, those who worked on the bridge had little or nothing to say about it once it was finished. All the speeches and poetry, the essays, the editorials extolling its beauty and significance were provided by others. Roebling, too, said almost nothing on the subject He—they all—seemed to prefer to let their work speak for itself.

The Early Aviators

“Though of different nationalities and differing abilities as pilots, these aviator authors were alike in their love of the freedom of the profession, their love for the still unspoiled, distant corners of the Earth and their affection for their fellow pilots.”

What Will They Write of You

McCullough challenges “Life in other times past was never on a track, any more than it is now or ever will be. The past after all is only another name for someone else’s present. How would things turn out? They knew no better than we know how things will turn out for us.”

Wednesday we will present more case studies of situations at work and how you would cope

Stephen R. Covey—Memory of a Great Human Being

Dr. Stephen R. Covey passed away this week. He authored a number of great books on relationships, leadership, and habits of highly effective people. I knew him personally. He and my father went to college together and affiliated in several on-campus groups. I attended several of his lectures and seminars. He usually remembered my father and recognized me. I last met with him two years ago when the Utah Valley Chapter of the BYU Management Society (I serve on the board) awarded him its Pioneer in Leadership Award.

More Than 7 Habits

The 7 Habits of Highly Effective People established his global reputation.  The Christian Science Monitor states that the book sold more than 20 million copies in 40 languages. The book created a common vocabulary and view of leadership. Because of Stephen Covey, we changed our paradigms, became proactive, began with the end in mind, put first things first, and more. He added an 8th Habit after meeting Dr. Mohammed Yunus of Grameen Bank. The 8 habits contribute to much of my personal and business success.

Stephen Covey taught more than just habits. His books Principle-Centered Leadership, Spiritual Roots of Human Relations, The Divine Center, and more inspired millions of people to change their lives. He helped many people find greater satisfaction and balance in their lives.

Personal Recollections

He taught me his famous 9-Dot and 3 pictures of a woman exercises before my teens. My bride and I benefited from a special seminar he did with Dr. Truman Madsen on marriage and relationships.

I heard him for the last time in November of 2010. We recognized him as a Pioneer in Leadership. He and his wife graciously met with all of us on the board before the program. His presentation that evening summarized a life-time of research. He synthesized principle-based leadership, 8 habits, and his work (The Leader in Me) with children around the world into a comprehensive approach to life.

Stephen Covey left a legacy in the minds, hearts, and yes habits of global generations.

Monday we discover how David McCullough’s Brave Companions can inspire your career

Random Thoughts About the Economy, Jobs, & the Future

This stand-alone post combines two thoughts on stories I heard today

I spent the last two weeks reviewing and analyzing consumer family finance data released by the Federal Reserve Board. Some of the findings boded ill for most Americans. Several stories I heard today seemed to continue the implications presented by the report. I wanted to share those stories and my thoughts about them.

Jeff Faux’s Book The Servant Economy

I listened to the Diane Rehm Show this morning. Her guest was Jeff Faux the founding president and distinguished fellow at the Economic Policy Institute. Mr. Faux recently published his new book The Servant Economy: Where America’s Elite is Sending the Middle Class.

He made several points during his discussion. Since the transcript is not available until later, I take the following comments from Powell’s Books review of The Servant Economy. It describes the same issues I heard discussed.

• Government’s abdication for the “responsibility for shaping the future
• A savage indictment of Wall Street financiers and their Washington toadies who promote an age of austerity for the people and an age of gluttony for themselves
• Twentysomethings laden with college debt will become thirty- and fortysomethings still stuck in low-paying jobs
• Elderly who will have to work until they die.” (the premise of my new book Barriers to Retirement: 10 Reasons You May Not Get to Retire) 

Canadians are Wealthier Than American’s

Then, I heard this report from Time “Over the past five years, the average net worth of Canadian households has exceeded that of American households.  So for the the first time in history, Canadians are wealthier than Americans — by more than $40,000, on average. In 2011, the average net worth of a Canadian household was $363,202, compared to $319,970 in the U.S., according to Environics Analytics WealthScapes data published in the Globe and Mail. (‘Average net worth’ measures the total combined value of a household’s liquid and real estate assets, minus debt.)”

Does any one else find these issues very disturbing?

Friday I would like to honor Stephen Covey who passed away this week

Hit on the Middle Class: My Thoughts and Observations

This concludes our review the Federal Reserve Bulletin for June 2012 on Family Finances

Most of the posts for the past two weeks contained quotes and summaries from the Federal Reserve’s report Changes in U.S. Family Finances from 2007 to 2010: Evidence from the Survey of Consumer Finances.  I would like to share my thoughts, observations, and cautions in today’s post. I hope not to offend, but pray that I can voice the good, the bad, and worrisome.

The Good

I see several good trends and hope they continue in spite of possible changes in the future economy:

• Families reduced debt and spending on debt. While consumer-based economies encourage spending and frequent updating of electronics, cars, and more; I hope that we continue avoiding debt. Credit card debt also decreased.
• Family savings inched upward. I also commend this trend and hope to see it increase. I feel we must save our money for emergencies, family events, education, and future purchases.

The Bad

Many of the factors that impacted family finances negatively originated long before the economic crash in 2008:

• Incomes failed to keep up with cost of living increases for a decade and a half. The economy indicates this trend will continue for the short-term. In addition, I doubt that salary decreases made for the recession will return quickly. 
• Unemployment rose more than 4% leaving hundreds of thousands without income. We still do not know how many of the jobs will come back.
• Housing values plummeted reducing family assets. Housing prices inflated beyond incomes and sustained value. An increasing appetite for bigger and more luxurious homes spurred the housing bubble which collapsed. Hopefully, we learned from the mistake and do not continue building and buying bigger homes than we need.

The Worrisome

The following indicators worry me:

• Debt-to-asset ratio increases jeopardize future security. Continued home-equity loans and debt consolidating refinancing will prevent improvement.
• Retirement accounts and savings share mixed messages. More people contribute to pension savings and accounts. Contributions fail to meet full vesting.

Wednesday I would like to share a few thoughts on today’s job market and the economy