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Rental Property Management – Ten Questions

December 20th, 2010

Why hire rental property management? Because doing it all yourself is the surest way to make your real estate investment experience a bitter one. You also have more time to find the next deal when there is someone taking care of the details for you. Hire a good property manager, but first ask the following questions.

1. How much is the fee? Fees vary around the country from as low as 4% of gross rents for larger buildings, to as high as 12% for single family homes. Be sure the fee is clearly stated and understood.

2. What other properties do they manage? It is best if they handle rental properties that are similar to yours. It is also helpful to drive by their other properties to see how they are maintained.

3. Who will actually handle your property? It is best if one person handles your building all the time. They should also have some experience. Get their name.

4. What costs extra? Is it extra for showings? Do evictions cost extra (beyond the legal fees)? Any other extras?

5. How is the fee collected and when? Will you be billed, or will it be deducted from your account directly? Monthly? Quarterly?

6. What type of advertising? How do they advertise the units and what does it typically cost you?

7. Cost and time to prepare units? What is the typical cleaning fee on a vacancy, and how long will it normally be before it’s rented out again?

8. What needs owner approval? What pound amount needs your authorization, and is this negotiable?

9. Hours of operation? What are their business hours, and who takes weekend calls?

10. Accounting? What reports do they send? How often? How are accounts set up?

There are probably other questions you’ll have as well, based on your particular needs and the particular property. Ask everything up front, and you’ll have fewer misunderstandings. With good rental property management, real estate investing is a lot less stressful.

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Property Management Software as an ASP

December 13th, 2010

It used to be that in order to manage your properties, be it apartments, mobile homes, or office space, each of the managers would have to store the data on their own machines either on software built for that purpose or with an assortment of personal databases andor spreadsheets. In order for a central office to be able to view that information or do any sort of reporting, the individual managers would have to mail a floppy disk to the central office, or, as things became more advanced, email or ftp that information. IT Managers hoped that the property managers were backing up their software in case of computer crashes, but never actually knowing if that was occurring or if the backups were valid. Among the other problems that were sure to occur in these scenarios were differing versions of the software, being tied down to a specific operating system, being tied down to a specific computer (the one with the installation), and difficulty correcting problems in the data from a remote location.

I talk about those things as if they are archaic when, in fact, many companies still rely upon these decentralized programs and databases and outdated methods to manage their properties.

Recently, however, companies that wrote these personal solutions have begun to develop centralized solutions based on web servers. And they are not the only ones. Intense competition from Internet startups with savvy web developers backed by knowledgeable property managers and property management companies have appeared, sometimes overnight.

Is it worth it to try one of these out? What does it buy you?

Whether you go with a proven player in the property management software market or a program written by a fledgling company, moving to an Application Service Provider (ASP) most likely provides you with the following important concepts. This list is by no means all-inclusive.

Centralized Data and Software

With data in one location, you can ensure backups happen on all of the properties as many times as you deem necessary. You no longer have to worry about whether your managers are backing up data.

With data in one location, you can run reports on all of the properties at the same time without waiting for managers to mail or email you their data. You can even view these reports with real-time data.

All of your managers machines are always running the most up-to-date version, and the ASP doesnt have to take time building and testing the patches to make sure they patch the program properly on all supported operating systems. They can just make and test the changes on their own servers, and move those changes to where the property managers themselves can use the modifications.

Data fixes do not require the data to be zipped up and sent to the programming company, nor do they require access into your computers or networks.

Versatility and Convenience

No more are the days when you have to buy the Windows version, the Mac version, or, if you are especially daring, trying to get the version of the software to work with the flavor of Unix or Linux that you have selected. If done properly, property management software will run on any of the more popular web browsers on any environment you choose.

You no longer need to bring the computer with you that has the installation on it. You can access your properties from any library, school, Internet caf, home, or work location at which you find yourself, as long as you have a connection to the Internet.

Cost

How many property managers honestly want to pay a team of IT professionals to manage all of the software and its upgrades at all of their properties?

There is really no need to keep using antiquated alternatives. If the convenience of easy access from anywhere using any web browser doesnt provide enough of an incentive, the easy and less expensive management and real-time statistics and reporting should. Take a look at some of the choices in online property management software today, and see how easy managing your properties can be.

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Property Management in Spain

December 6th, 2010

Whether a newcomer to property investment in Spain, or an experienced semi-residential property owner, you will have seen advertisements for plenty of private companies and individuals offering a property management service of some description. But who needs it?

The services offered by property management companies vary widely. Some specialize in finding you holiday and longer term tenants, while others concentrate solely on the care of you and your property. More unusually, certain companies are able to offer not only this but also a full after-sales service to your property purchase, assisting you in getting your property up and running after completion and beyond.

Manaa, manaa

One of the obvious benefits in working with a property management company is overcoming the language barrier that can hit when you start trying to arrange for things to be done in Spain. A prime example is organizing a telephone line no mean feat even if youre bilingual. But also, things tend not to happen overnight in Spain and you can find yourself waiting in for this plumber and that electrician and wasting your valuable holiday time. Youve worked hard to earn your holiday why waste it when youre here?

Low cost airline late night arrival?

So, you got a bargain on the flights but youre arriving at midnight! It seems a great idea until something goes wrong. The water heater has been turned off for weeks, your villa or apartment is freezing cold (or unbearably hot) and no-one has arranged for the air con gas to be replenished. You need new lightbulbs so that you can see what youre doing and, of course, theres no milk for your morning coffee! On a more serious note, perhaps there have been unwanted guests in the property insect or rodent, or even human.

A good and reputable property management company will thoroughly check your apartment once a week and provide you with a detailed report advising if any work needs to be carried out. Not only will they check that the apartment is clean and secure, but they are also trained to look for signs of damp, infestation and minor construction problems. If work is required, they will provide you with quotations and upon your approval, arrange for the work to be carried out under their supervision. You will arrive in your perfect property ready to enjoy your holiday.

Making life easier for you

Airport pickups, welcome packs or grocery shopping are also available from most companies as well as cleaning, laundry and ironing services. As a minimum, your property management company should be able to check that your apartment is clean and the beds are freshly made prior to your visit.

Generate an income

Those wanting to generate an income from their property can also benefit hugely from a reputable companys network of holiday and longer term rental customers. Not only can they market and maintain the property for you, but they can also vet customers and ensure that the apartment is looked after with due care and attention by those using it.

It also takes a lot of the stress away when you invite friends or family to use your property in your absence. Someone is available 247 to meet and greet them, make sure they have a key, show them how to use your appliances and advise them on where to go in the local area.

Its all in the extras

More dynamic property management companies go a whole lot further offering services that make themselves indispensable to you in a very short time: -Post construction cleans, marble polishing, lock changes and snag lists Handymen services, plumbers and electricians Furnishing and dcor advice, supervised deliveries Bookings for car hire, hotel accommodation, golf tee times, flights Grocery shopping, welcome packs and fresh flowers Limousine and minibus hire Yacht and private plane charters Restaurant bookings Babysitting, cot and high chair hire Occasional bed hire VideoDVD hire Event management and organization (parties, weddings, conferences) Secretarial, administrative, translation and office services Advice on schooling, local classes, medical care, church services, tourist information, excursions Recommendations for legal, financial, mortgage, snagging and tax advisors

Peace of Mind

So who needs it? Everybody with a property in Spain!

Property management provides private individuals and company property owners with complete peace of mind while they are not in Spain.

Remember, theres always someone on the end of the phone just in case.

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Professional bookkeeping and financial accounting services provider help to save

November 29th, 2010

Professional bookkeeping and financial accounting services provider help to save 4050 % US cost

E-accounting very well cuts small the time in use to move the time taken by in order swap between the clients and accounting firm. The perfect moving is far more resourceful and much faster. The accounting firm has dynamic access to the sourcing documents of the clients firms and can access anytime any information it requires from its clients side. E-accounting and online accounting works in internet, when you are going to work on e-accounting services, you may have more clients work or you are working for other person or an organization. The online accounting system also allows the accounting firm access to client database from any of the site. Far missing location at the a few clicks on the internet. The time responsive financial data is readily obtainable to the accounting firm.

Other then the speed and cost of services, online accounting enables better customer service and additional dependability and faith. Accounting firms lately have been bare as in cahoots with some very big clients, commit serious financial crime. In this situation the new do build more clearness too. The online accounting does also give for more opportune communication among the firm and clients. Since the client has more instant access to information and to time sensitive documents with Online Accounting practice, question and evils can be more easily identified and resolved. This translates into increased profits as well as better-off clients!!

Since the clients obtain improved service, they get more worth for the money they spend. It is usually quite cheaper for the business proprietor to outsource the bookkeeping and accounting than to hire and supervise it in-house. Investments for the business owner can be as much as 30% for some clients! Online Accounting is great for such services. The accounting firms also charge now a fee (fixed on a monthly basis) almost five times the average monthly fee (based on billable hours) they charged earlier. Generally the various online accounting processes available are modified for their users where they can choose the menu of features they like. Online Accounting is an outstanding tool for accounting and book keeping, one that is help full for both the accounting firms as well as the clients.
Do you want a solution to all your financing, accounting and bookkeeping problems? If yes then Outsourcing Bookkeeping Services. Is your target for comprehensive financing, accounting and bookkeeping outsourcing services. Bookkeeping financing and accounting are easiest process for any company can in touch of other for any time.
Your benefit to be a part of outsourcing bookkeeping services is that you will get a chance to save your valuable money and you will also be able to save your precious time that you can use for your business development. Out Bookkeeping Software has made Book Keeping processing very simple for every one.

Outsourcing Bookkeeping Services supplies business opportunities to all the companies. Whenever they are small, big, large, very large, national or international company for any services provider field. Because any types of field Container Company need accounting and financial services or some information provider resources. Professional Bookkeeping Services provides accounting & financial service to you for your business development and the development of tour business. Outsourcing Bookkeeping Services Company can understand your accounting and financial position after checking the company status and it is capable for solving and managing accounting activities.

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Private Sale (FSBO) Property Pricing

November 22nd, 2010

The property price dilemma

As a homeowner selling your home you are faced with a dilemma when setting the asking price for your property. Ask too much and you risk your property sitting on the market for months without attracting any offers. Ask too little and you lose out financially. Faced with this choice many homeowners set their asking price too high believing that they can always lower the price if the property doesnt sell. However this can have disastrous consequences for the value of your home.

Setting the correct price is the most important part of selling your home. Whether selling your home FSBO or through a real estate agent it is vital to get the asking price right first time. Your aim is to sell your property in a reasonable amount of time and to get on with living your life, in order to do this you must set a realistic price.

Buyers know the real estate market

Buyers are often well researched when it comes to the current real estate market. Therefore if a property is overpriced, it simply wont sell. As a homeowner you may well feel that a prospective buyer can always make you an offer but in many cases buyers will simply walk away. It is said that a reasonably priced property will attract reasonable offers but an excessively over priced property will attract no offers.

If a property is over priced and doesnt sell it will sit on the market and will quickly become stale. Buyers will recognize the property as having been on the market for some time and assume that there must be something wrong with it; the property will have gained the reputation of being a lemon. If you overprice the house to test the market and then reduce the price later, it signals to buyers that the property was and may still be overpriced. Homes that are listed through real estate agents are particularly vulnerable as many agents give homeowners inflated valuations on their property to try and secure the listing. The owner is later conditioned by the agent to accept a lower offer that is often less than the true value of the property.

Factors affecting the price of your property

The amount of time that you have to sell your home will affect its sale price. Any property will sell if the price is low enough. If the real estate market is slow and you need to sell quickly you may have to accept a lower price to sell you property. By offering a property for sale at a lower price the pool of potential buyers is expanded as the property becomes attractive to real estate investors who either want to rent the property to tenants or renovate and sell at a profit. If you are not in a hurry to sell your property you can concentrate on appealing to homeowners rather than investors. Homeowners are less likely to be concerned about rental yield and profit margins and will pay more for a home that they fall in love with.

Some factors other than time that affect the price of a property are:

Location: You cant get away from this one; the clich location, location, location is well known because it is true. If your property is located in a desirable area that is in demand, you will be able to get a higher price than you can for the same house in a less desirable area.

Condition: A house that has been well maintained and can be moved into without the new owners having to undertake any major renovations will always sell for more than one that has been neglected and needs work.

Desirable amenities: If your house has popular amenities such as parks, schools and shops close by, it will sell for a higher price.

FSBO and property prices

As a FSBO homeowner you are in a fantastic position in that you can under cut your competition (properties listed with real estate agents) and still keep more of the equity in your pocket as you have no real estate agents fees to pay. However a significant number of FSBO owners erode their competitive advantage by asking the same or more than properties listed through an agent.

Opinion is divided as to whether buyers would rather buy direct from the owner or through an agent. Some people feel that buyers prefer to negotiate through an agent, as they can be more honest in their feedback, therefore if these buyers are to be enticed to consider FSBO properties they need a reduced price to attract them. Others feel that buyers would rather deal direct with owner rather than have to put up with the deceit and games played by some agents. Having dealt with many agents and FSBO owners I would rather deal direct any day.

Whether the prospective buyer prefers to deal direct or would rather be negotiating through an agent one thing is for certain. The buyer knows that the homeowner is saving a considerable amount through not having to pay commission and will expect the homeowner to share some of this saving with them.

Any sensible FSBO vendor will share the saved commission with the buyer by accepting a slightly lower price. The homeowner is still ahead in terms of the equity they have in their pocket and can move on and get on with their life in their new home. It is important to focus on selling your home not how much you can save.

How to determine the price of your property

In order to determine the price of your property it is necessary to compare your property to other homes that have sold in your neighbourhood. There are three ways that this can be done:

1. Online valuation service
These services compile reports based on historic sales data for a particular suburb or street. They are a useful overview and provide information quickly and easily but provide fairly high level information e.g. you may be able to find out the average house price in a street but may not know how many bedrooms the average house has.

2. A professional valuer
A professional valuation is the most accurate way to find out how much your property is worth. A valuation from a professional valuer is not the same as a valuation that you might get from a real estate agent. A professional valuer has no financial interest in your property and is legally responsible for their valuation. Banks will require a valuation from a professional valuer in order to issue a mortgage. Banks will not accept a valuation from a real estate agent, as they know that these are not reliable.
In order to value your home the valuer will visit the property to make measurements and assess the condition. They will then consider how your property compares to other properties that have sold in the local area.

3. Comparative market analysis
It is possible to conduct your own market analysis by comparing your home to others that have sold in the area. The key here is to compare to the selling price of other properties and not the asking price.
Find 4-5 houses similar to yours that sold in your area over the last 6 months. Ask agents or owners or use property records to find out what the properties listed and sold for. Keep an eye on newspaper property pages for examples of recent sales.
As no two homes are exactly the same it will be necessary to make adjustments for differences between your home and those in the comparison e.g. if the home in the comparison has a renovated bathroom and your property does not you will need to reduce the comparison price.

Setting the asking price for your property

It is difficult trying to subjectively value your home because of the emotional attachment that you have. This can lead you to over emphasise the propertys good points and to overlook any shortcomings. In order to get the most accurate valuation we would recommend investing in a professional valuation.

When setting the asking price it is important to remember that the only thing that is relevant is how much a buyer is prepared to pay for your home today. It does not matter how much you paid for your home five years ago, nor does it matter how much your new home is costing or how much you still owe on your mortgage. It is only your propertys value as determined by the current real estate market that is relevant.

You may however wish to include a small buffer to allow for some negotiating room. 5% more on the asking price will give enough room to negotiate but will not overprice the property so much that buyers are scared away.

How to maximise your equity

In order to maximise the amount of money that you end up with in your pocket we recommend using a professional valuer to determine the property value.

Once you have decided how much to sell your property for listing with a good FSBO website (also known as private sale) means you avoid paying commission to a real estate agent and can maximise the amount of equity you are left with.

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Pilot Jobs: The Ever Changing Market

November 15th, 2010

If you are looking for work as an airline pilot, you cant help but notice that the news is constantly filled with information [mostly negative] about the job situation for the industry as a whole. Unfortunately, newsmakers only get part of the story right as the airline industry is always in a state of flux. Pilot jobs are available, but you must broaden your horizons beyond the conventional ways in which most pilots go about finding work. Lets take a look at some of the options available to you.

Independence Airs recent demise has thrown hundreds of Airbus pilots out of work in the US. Press reports have been painting a gloomy picture of this event, which was not unexpected by airline experts. Still, the future isnt completely gloomy for these very same pilots as Virgin America is expected to take flight in about one year. They plan on operating a fleet consisting of as many as 105 Airbus aircraft.

The legacy carriers have been presenting some of the most challenges for potential pilots as few, if any, are hiring. Most are in the process or have nearly completed the process of extracting give backs in the form of wages and benefits from their current pilot ranks. In addition, as pilots retire, available pilot jobs are filled from their lengthy lists of furloughed crewmembers. Certainly, the legacy carriers American, Continental, United, Delta, Northwest, and USAirways are currently not worth exploring as a place to look for pilot jobs.

Pilot jobs are available through many of the regional carriers. Some of these carriers include Chautauqua, Republic, Comair, Big Sky, American Eagle, Air Wisconsin, Great Lakes, and others. Pilot pay is very low, but the opportunity to fly can be very good with the regional carriers. These carriers typically fly Embraer, Canadair, or British Aerospace regional jets carrying passenger loads ranging from 50 to 100 seats.

Charter carriers have typically been a fairly good source for pilot jobs. These Part 121 operators consist of a bevy of airlines including World Airways, North American, Miami Air, Sun Country, and Ryan International. From time to time pilot job opportunities are posted directly on each airlines web site. Check in often for the latest hiring news.

Then there is the assortment of start up airlines that have recently hired or are in the process of hiring. As you know, the failure rate for start ups is very high, but for many crewmembers a seat is a seat especially one that allows you to accumulate valuable and needed flight time. Two recent start ups that have taken flight include EOS Airlines and Maxjet Airways. As mentioned previously, Virgin America Airlines is in the process of passing through all of its regulatory hurdles and Primaris Airlines will be expanding its fleet over the next few years in its quest to become a full fledged airline flying scheduled routes. Other start up carriers worth watching for future pilot jobs include: Fly First Class, Baltia, and Mexus.

Discount carriers typically offer the best chance for finding pilots jobs. Southwest Airlines and JetBlue Airways lead the pack, but Mesa, Spirit, Alaska, Horizon, Midwest, and USA3000 have all listed pilot jobs within the past year or are planning to do so in the coming months. Pay is an issue, much lower than the legacy carriers, but you can find work.

Beyond contacting the companies directly, there are helpful web sites filled with pilot job opportunities or, at the very least, interview gouges and banter. The internet has a myriad of sites available, so I will start from the top: Aviation Employment Board, Climbto350, Flight International, Fliteinfo, Jet Movements, Landings, Parc Aviation, PPrune, Student Pilot, Thirty Thousand Feet, U.S. Aviation, and Will Fly For Food.

Finally, for the pilot who is willing to look well beyond the U.S., opportunities can exist with carriers based in the Emirates, India, China, Vietnam, and other destinations. If it is flight time you want, many have exactly what you need.

Pilot jobs are available and with a little digging and some sleuthing you can uncover for yourself a good list of companies that are worth a look. As mentioned, the industry is in a constant state of flux but the savvy pilot can work that to his or her advantage by staying on top of industry trends.

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Overcoming Unemployment In A Crowded Marketplace

November 8th, 2010

Being unemployed can take a major toll on your self-esteem, your financial situation, and your desire. If prolonged, it can also have a negative impact on your competency level (i.e., keeping up with skills, experience and attributes that are in demand in the job market). But dont get down on yourself. As you look for a new job, you need to understand that there are thousands of others who are also unemployed and looking for a job.

To give yourself an edge and position yourself ahead of these other jobseekers, implement an effective job market strategy for overcoming unemployment. Here are the top 3 strategies you need to consider in overcoming your unemployment.

Strategy 1 Create Your Own Job Opportunities: It is a statistical fact that 80% of job seekers concentrate on 20% of jobs available. You may find this puzzling, but it makes sense when you consider that these 20% of jobs are the jobs advertised through the mainstream job channels most job seekers use newspapers and recruitment agencies. The other 80% of jobs are accessed via the hidden job market channels and this is where you need to concentrate your efforts.

Strategy 2 Take On Volunteer Work: It is rather shortsighted when jobseekers say they cannot do volunteer work because they dont want to work for free. This is so far from the truth when you take the time to consider what you stand to get out of it. Volunteer work achieves 5 things: it keeps your skills and experience up to date; portrays you as a hardworking, proactive individual who uses his or her initiative; puts you into the know with regard to the internal job market industry, as you now have one foot through the door at your place of volunteer work; makes you more marketable as you can put the name of the company down as place of work; and, finally, naturally gives you an edge over other job applicants as a result of the first 4 reasons. Think of it this way. If you were the employer and you were considering 2 applicants, one who does volunteer work and the other who has just remained unemployed and has done nothing, who would have the edge in your eyes?

Strategy 3 Continuous Improvement: Never stop developing yourself. Be highly committed to self-development, especially given the impact of the information age on todays fast-paced and ever-changing world of work. Those who get jobs effortlessly are those who are on the cutting edge of their industry in terms of latest trends, technologies, training and specialized industry advancement. The good news is that there is a huge variety of affordable, sometimes free, ways to stay ahead of the curve. So commit to learning and improving yourself by participating in educational experiences such as classes or training, reading specialist publications, researching info on relevant websites, and so on.

Simply working on these top 3 areas will dramatically improve your chances of achieving your job goal in the quickest and most effective manner possible. But first a note of caution: the success of these strategies is very dependent on how well developed your job market skills are. Conduct a self-analysis of your current job market performance by taking this FREE Job Market Performance Assessment.

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Outwitting the Job Market Over the Long Term – Part

November 1st, 2010

Outwitting the Job Market Over the Long Term – Part 3

LOOK FOR OPPORTUNITIES BOTH WITHIN YOUR COMPANY AND BEYOND

If you’ve been in your job for at least a year, a promotion isn’t the only path toward career advancement. Applying for and landing an internal job of higher rank and responsibility is another way of getting ahead. Most companies will pick qualified internal candidates over qualified external ones. Beware, however, of applying for an internal position if you haven’t spent at least twelve months in your present job. While companies are partial to internal candidates, they don’t want someone who will leapfrog from one position to another.

Take a gander at the new openings at your company frequently. Better yet, look for a suitable internal job before it’s publicized. Sometimes, you’ll get a heads-up through word of mouth or office gossip. From there, it’s a matter of speaking to the HR person responsible for filling that position.

While applying for an internal position is a perfectly legitimate means of career advancement, don’t hide your intentions from your boss. He’ll probably find out down the road, through a human resources person or another employee, so you might as well be up-front from the get-go. Also, while it’s acceptable to apply for one or two positions, don’t apply for every opening under the sun. For one thing, human resources won’t take you seriously. And for another, your lack of specificity will signify that you don’t have direction. It’s much better to wait until the right opening comes.

While looking for opportunities internally is important, don’t ignore the opportunities that exist outside of your company. If you successfully used a recruiter in the past, let him know if and when are about to begin another job search. It’s also a good idea to keep your resume available on at least one employment site in case another company wants to contact you about an open position. Just don’t make your resume too available. If you’ve plastered it all over Monster, HotJobs, and various other job sites, there’s a chance your present employer will notice. Getting caught in the act of looking for an outside job is akin to unofficially declaring your decision to leave the company-something you might not be prepared to do.

NEVER STOP NETWORKING

Just because you are happily employed doesn’t mean you should halt your networking efforts. In fact, the best time to network is probably when you are comfortably situated in a job. That way, you won’t be saddled with the weight of a job search or unemployment. Also, you’ll be able to talk freely with your contacts without having to ask them for favors. As mentioned in chapter 3, it’s important to communicate with your contacts regularly, not just when you need their advice or assistance.

Keep track of your contacts and how often you communicate with them. It’s easy to let months, and even years, pass in between phone calls and e-mails. And the more time that elapses, the harder it is to reestablish contact. Use a calendar, planner, or personal digital assistant to help you organize your correspondence. And don’t forget your Rolodex or address book. Keep it updated with the correct phone numbers and e-mail and mailing addresses of each of your contacts.

If you have a long contact list but little time, try to prioritize. Be sure to make time to see in person those contacts who are most important to you. For acquaintances or casual contacts, the occasional e-mail or phone call is an acceptable alternative to a face-to-face meal or coffee break.

While keeping up-to-date with old contacts is crucial to networking, so too is meeting new people. Your new job will mean lots of fresh faces, so don’t be shy about introducing yourself. Stop and chat with your new coworkers at company-sponsored parties. Go for drinks or dinner with your department. If your company sponsors an employee sports team or weekend activity that doesn’t interfere with more important obligations, sign up.

If your company doesn’t offer many opportunities for socializing, invent your own. Ask a few of your coworkers to your house for a dinner party. If time permits, organize a trip to the movies, bowling alley, local watering hole, or a concert. If you want to organize a larger event or to start a club or a sports team, speak to human resources before you forge ahead. You may need the department’s consent and to follow a certain protocol. Nevertheless, human resources personnel are thrilled when employees think of new and innovative ways to bolster company morale. Most will be happy to oblige.

Finally, remember that networking will benefit you throughout your career. According to a recent poll conducted by the Society of Human Resources Management and the Wall Street Journal’s Career Journal, the percentage of jobseekers who rate networking as an effective job search tactic was 78 percent. Referrals from employees also ranked high at 65 percent. Obviously, when it comes to finding jobs and advancing in your career, the more people you know, the better off you’ll be.

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Outwitting the Job Market Over the Long Term – Part

October 25th, 2010

Outwitting the Job Market Over the Long Term – Part 2

STAY ON GOOD TERMS WITH YOUR BOSS

Your boss is the person who will recommend you for a promotion, if the opportunity arises. For this reason and for many others, staying on good terms with her is imperative. Put time and effort into the relationship. Try to think from your boss’s perspective. What drives her? How does she do her job? And more importantly, what can you do to make her job easier? If there’s an important project in the works, for example, don’t hesitate to put in extra hours. Do the bureaucratic tasks that you know your boss detests. Come in early and stay late to make sure you’re always available should your boss need you. If you can lighten her workload in a helpful rather than invasive way, you will make yourself more valuable. In fact, if you can become indispensable to your boss, she will bring you up with her if she is promoted.

But what can you do if, despite your best efforts, your relationship with your boss isn’t working out? One account manager describes his difficult experiences with his former manager. He says, “My boss and I were actually competing for the attentions of his supervisor. My boss’s boss had taken a liking to me and had even given me some of the important duties that would normally have been my boss’s domain. There was some rivalry there, even though I didn’t want there to be. I spoke with my boss about improving our relationship. I thought we could meet once a week for a lunch meeting, just the two of us, to sort of mend our working relationship. But he was opposed to all my suggestions-perhaps he felt threatened-and I realized I would probably need to move on.” As this example indicates, not every relationship can be saved. If you’ve been consistently passed over for promotions, if you’ve been in the same job for a few years despite prospects of upward mobility, if relations between you and your boss are consistently tense or uncomfortable, it may be time to explore other horizons.

If you like your company, one option would be a lateral move. If you take a job at the same level, but with a boss who likes you on a personal level, your chances of promotion will be much greater. Of course, you can also look for employment outside the company.

SPEAK TO THOSE WHO HAVE SUCCEEDED

In your company, or perhaps in your industry in general, you have no doubt encountered people whose work ethic or management style you respect and admire. How did they get to where they are today? What paths did they take? And how do they stay at the top of their game? No matter what level you’re at in your company, speak to those people whose abilities, skills, or drive you can learn from. You can do so informally. Sit with them in the company cafeteria. Introduce yourself after a company-wide meeting. Send e-mails asking if you can stop by their offices. Or you can take a more formal approach and ask for brief informational sessions. Either way, by listening to and learning from others, you can cultivate your own professional growth.

By the same token, you may be the person whom others are seeking out. If there are people at your company whom you can encourage and assist, reach out to them. The more friendships you forge, the more benefits-personal and professional-you will reap.

EXCEED EXPECTATIONS

Above and beyond your job description, what else can you be doing to make the most of your position? Complete the tasks expected of you, then strive to do more. An administrative assistant at a nonprofit organization was eager to showcase his technical skills, which he seldom used on the job. When the nonprofit organization decided to replace its outmoded computers, he volunteered to head up a task force to refurbish the old computers and donate them to a local public high school. “Everyone was impressed by my initiative and my sense of giving. I volunteered my time after work because I believed in the cause. But a perk was that my coworkers and superiors noticed that I was really good with technology.”

There are many ways to make your mark at work. Volunteer to do something small, like record the minutes of a company meeting. Better yet, tackle a larger problem. Organize a team dedicated to finding a solution for a persistent company problem, or volunteer to complete an unpopular, but high-profile assignment. Consistently go the extra mile, as long as doing so doesn’t interfere with your regular workload. Your leadership abilities won’t be lost on those around you.

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Outwitting the Job Market Over the Long Term – Part

October 18th, 2010

Outwitting the Job Market Over the Long Term – Part 1

You’ve found a great job, you have every right to celebrate. Go out on the town. Eat a good meal with your friends. Make a toast to your own future. But don’t forget that while you’ve outwitted the job market in the short term, you’ll have to keep your eye on the long term too. That’s right outwitting the job market is actually a career-long pursuit. As long as you’re in the workplace, you’ll have to plot and strategize ways of staying ahead. Fortunately, this isn’t as hard as it sounds. The tips below are a good starting point for taking advantage of the opportunities your new job will offer-and creating a few opportunities of your own.

UNDERGO REGULAR CAREER SELF-APPRAISALS

You go to the doctor once a year for a complete physical examination; why not undergo an annual career examination too? The self-appraisal is a way to take stock of your continuing career-related achievements and goals. At least once a year, write down a list of the skills and experiences you hope to be gleaning from your job and where you want to be in the coming year. By comparing this list to what is actually happening, you will be able to determine the rate of your professional growth. If your job is helping you to achieve most of your desired career goals, then you know you are making good progress. If, however, there are sizable discrepancies between your “wish list” and your “reality list” over a reasonably long period of time, you may want to consider renewing your job search efforts.

One management consultant says she takes off a personal day every six months specifically for the purpose of self-appraisal. “I usually spend the day outdoors, in a park or hiking. I take my list with me. Away from work and the usual interruptions at home, I’m able to be more objective. I can be honest with myself about where my job is going, where I want to be, and whether those two directions dovetail.”

Thinking long-term doesn’t hurt, either. Where do you want to be in your career in five years, ten, or twenty? What can you do now to ready yourself for these goals? Considering the distant as well as immediate future can help you to make important decisions regarding your career. Explains a thirty-one-year-old professional who works for a prominent accounting company: “I have a rough idea of where I want to be, using age as a scale. I want to be in a management role by the age of thirty-five, for example. If I’m not there in a few years, I have to assess some things. Why am I not getting promoted? Am I not performing up to the [necessary] level? Or is the company overlooking me because of something beyond my control? [If this is the case,] I’ll have to find another company to stay on track.” For this employee, as well as for many others, short- and long-term career appraisals are a regular part of work life.

PAY ATTENTION TO YOUR PERFORMANCE REVIEWS

Many employers, especially large corporations, consider job performance reviews a standard part of the cycle. Once every six months, or once a year, your boss and sometimes your peers and subordinates too-will review your on-the-job performance based on competencies such as leadership, teamwork, and problem-solving abilities. You will be graded, in a sense, the same way you were graded in school.

It’s natural to balk at the thought of performance reviews. Yet if you choose to ignore them, you will also be ignoring their impact on your career prospects. Indeed, performance reviews are often weighted heavily when promotion time and raise discussions come around. If you’re serious about moving ahead in your field, don’t be passive about performance reviews. Tackle them head-on. Be gracious when your strengths are pointed out, but pay more attention to the areas that need improvement. If your supervisor says that your presentation skills are lackluster, for example, make an effort to improve them. Take a public speaking seminar; maybe your company will be willing to subsidize it. There are plenty of ways to improve perceived weaknesses in your employment performance: Read books. Take classes. Enroll in online courses. Seek the advice of those who are adept in the areas that you are trying to shape up and sharpen. In the process, be sure that your supervisor is aware of your attempts at self-improvement. Don’t assume that she is in the know and will automatically take into consideration your efforts at your next performance review.

And what about those long months between reviews? Don’t wait for your employer to initiate discussions about your job performance. Approach your boss and ask, ‘Am I working up to your expectations? Do you have any suggestions for how I can become a better employee?” Being proactive about your own improvement is a great way to get noticed for the right reasons.

And speaking of getting noticed-the next time you’re praised in an e-mail, letter, or memo, be sure to keep a copy. Keep a folder for the express purpose of collecting items that illustrate your value to the company and your continuing improvement. Keep copies of your performance reviews, too. The next time you begin a job search, this folder will help to convince future employers that you’re worth hiring.

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