Pension consolidation What you need to know

Pension consolidation What you need to know by Michael Cheary Not sure what happens to your pension when you change roles?As we move from one company to the next, a lot of us leave our pensions behind. But that may not always be the right thing to do. In fact, that money could potentially be working harder for you if your pensions were combined.Heres why combining your pension benefits might be right for you:Four reasons to consider combining your pensionsIt’s important to remember that you don’t need to wait until you change jobs before considering the benefits of pension consolidation.Making the most of your pensions now, could have a significant impact on the kind of lifestyle you could enjoy in retirement. And you should never leave it to hindsight to start planning.Here are 4 reasons why you might consider bringing your pensions together1. Opportunity for a better returnYou may find that other pensions offer the potential for a better return on your investment than your existing pensions â€" giving you the opp ortunity to boost your savings in retirement, without saving any more.Just remember, as with all investments, the value of your money can go down as well as up and you may not get back the original amount invested.  2. Reduce risk as you move towards retirementYou might actually benefit from moving your money to a pension that offers funds with less risk which may not have been available to you before.This can be particularly important as you move towards retirement, when you might not want to take as much risk with the money you’ve saved throughout your working life.3. Lower chargesIf you have several different pensions, it can be difficult to keep track of the charges you’re paying to existing pension providers.If you combine your pension into a new plan, lower charges could be available â€" providing you with the opportunity to boost your retirement savings even more. However, you need to fully understand the charges on your existing plans, before considering moving your pen sion.4. All your money in one placeCombining your pension into one pot, reduces paperwork, helps you keep track of your investments and makes it easier to estimate the income you can expect to receive in retirement.However, before you decide to consolidate your pensions, make sure you won’t lose any benefits attributable to your existing pension.Five key pension considerationsRetirement planning: What you need to knowYou may still have five, ten or fifteen years to go to retirement but that doesn’t mean you should leave retirement planning to the last minute.Transferring now gives you an opportunity to benefit in your final few years of employment, and will help put your mind at rest as you get close to giving up work. There are circumstances where transferring may not be right for you. That’s why getting professional financial advice is so important.The best course of action will all depend on what types of pension you have, how long you have until retirement and your persona l goals and objectives.  Ready to find a role with a better pension? View all available jobs nowFind a job What Where Search JobsSign up for more Career AdviceSign up for moreCareer Advice Please enter a valid email addressmessage hereBy clicking Submit you agree to the

Getting the interview questions right

Getting the interview questions right For businesses, it’s not easy finding the right person to fill a vacancy. Recruiting can be expensive and time consuming and therefore you want to get it right. You have a short window with each recruit to really get to know them and establish if they are the right fit for the role. So how can you ensure that you are getting the most out of your candidates and of your time and investment? The key is to have a strategy for recruiting and a plan for the interview. For smaller businesses who don’t have HR departments it may be the first time you have recruited or you may do it very sporadically if you have a small team. It is an expensive process both from an advertising/agency perspective and the amount of your own time that you have to invest in the process. That’s not even considering the cost of training an employee to do the job effectively. So you need to do it once and do it well! Preparing for the interview will ensure you make the most out of the small window of opportunity that you have with each candidate. Write a list of questions It is important to have a clear list of questions that you can ask the interviewees. You won’t want to read them script fashion but if you start with the easier questions and build up to the deeper questions then you can at least have a guide to follow. Don’t ask cliché questions for the sake of it. Your business is not the same as every other business out there and whilst there are similarities and guides as well as useful advice from sources like graduate jobs site 10minuteswith.com there isn’t a rule which says you need to ask a question because it’s what everyone asks. What you need to ascertain is their suitability and fit within your company, therefore the questions need to help you to get the answers to this. Make it a comfortable situation Ensuring that the candidate feels at ease during the interview process will mean that you get the best out of them. If they are too hot, thirsty, have a dry mouth or are a bag of nerves they won’t engage as comfortably. Offer them a drink when they arrive â€" make sure there is a glass of water on hand for them. You could even pour them a glass just in case they are too polite and refuse. Engage the candidate The key is in the way you set up the interview. You want the tone to be formal, but you want the conversation to flow â€" not be stilted and awkward. Start with the easy questions which will help to make the candidate relax a little and then you can build the questions throughout the interview. If you have read the candidate’s CV and have a copy in front of you then you will be able to ask them questions around their hobbies and interests which will help you get to know them and see things like how passionate they are about their hobbies and indeed how they spend their spare time.

Goat cheese is the new veal

Goat cheese is the new veal I have two new goats. In a nod to Tom Sawyer and his fence, I told my sons the goats are for me only, and I want to take care of them. When my sons thought of 100 names for each goat, I told them that the person who takes care of the goats gets to name the goats. So the goats are named Samuel and Snowflake. And I am supervising feeding instead of feeding. I know youre not supposed to name farm animals you are planning to eat. But last summer my son bottle fed a calf that did not have a mom to take care of it, and now my son seems to be fine with the idea of killing the calf. The farmer made the idea more palatable to my son by telling him that my son will get money for taking care of the calf. My son asked for $10,000. The farmer pointed out that we cannot sell a calf for $10,000 and when all was said and done with the financial lesson, it became clear that if you add labor, and milk replacer, and the small size of the orphaned calf, it costs more money to keep the calf alive and slaughter it for meat than it would have cost to kill the calf when it was born. We dont kill our animals here unless they are in pain, said the farmer to my son. So it was easy to explain to my son why our goats were free. The dairy goat farmer doesnt want them, I said. It costs too much in labor and feed to keep the goat alive. That farmer would lose money. I didnt tell my sons that farmers all over the cheese belt of America are banging goat babies on the head to kill them as soon as they are born. If this were a PETA blog, there would be really gross pictures. But my kids go to school with tons of dairy farm kids, so I have to be careful. But heres the problem with the milk industry. To get milk from animals they have to give birth. And their milk slows down if they dont give birth a lot. If the dairy cow gives birth to a girl, theres hope that the girl cow will give milk when she grows up, so its not a total waste of money to keep the calf alive. If the dairy cow gives birth to a boy, theres not really anything to make it economically sensible to keep it alive.You have probably never had a dairy cow steak in your lifetheyre just not that good. But dairy cow meat can go into low-cost food like McDonalds hamburgers. So McDonalds is saving the lives of tons of boy dairy cows by creating a market for them. The dairy goats are not so lucky. Just like the cow business, there are meat goats and dairy goats. But there is not enough money is the goat meat market for people to pay a decent price to kill dairy goats for meat. Theres not enough meat on the dairy goat to make it worth raising the dairy goat. So farmers that provide goat milk to the cheese industry kill the boy baby goats. You can get angry at the farmers if you want, but what can they do? They could raise the prices of goat milk, but someone would undersell them. And people who are great at raising goats cant switch their farm over to something else. They dont know how and they dont have enough money for a capital investment. We have seen this business problem before. We see it in corporate life all the time. Its much easier to make money without the burden of a moral compass. Until you go to jail. But also, most of us have our own moral compass and we are always trying to balance ethical problems: feeding ourselves and our families and being the good person we envision ourselves to be. Making real world business decisions requires a constant recalibration of the right and wrong of our own perspective against whats at stake. The type of business makes a huge difference. Take Bernie Madoff, for instance. Its hard for me to understand the laws he violated and the numbers he faked. So who knows what I would have done with the opportunity to make decisions for him? But when I first met the farmer, I could look in his pig pen (technically called a farrowing pen) and see that I really dont like how hes birthing pigs. He has the moms immobilized so they dont roll over onto babies. My perspective: Its inhumane to tie down an animal during birth and if pigs would roll over onto babies in natural childbirth then probably thats why there are such big littersbecause some would die naturally. The farmers perspective: His whole system is set up this way and its too much to change right now and its just balancing the pain of a birthing mother versus the pain of a baby being squashed, and who am I to guess which is more painful? (This is what most animal arguments with the farmer come down to: Dont anthropomorphize the animals!) So its never absolutely clear to me what is right and what is wrong on a family farm. And most of these goat milk farms are family farms. What is clear to me, though, is that goat cheese is like veal: If you had any idea what animals are going through to get you this meal, you would be horrified. The great thing about awareness, though, is that once people understood the horrors of the veal industry, the veal industry tanked. And now a new industry of veal cows with a high quality of life has emerged. So, I got two boy goats from a woman whose specialty is taking boy goats from milk farmers who dont want them. Heres a photo of Samuel today. Four days old. The farmers control the births so they get an optimum price for milk. Milk prices are high now. So babies are being born in the coldest part of winter. They are not in heated barns because its too costly to heat a barn for animals that make so little money at slaughter. Of the boy baby goats that are not intentionally killed at birth, a large percentage of them die from frostbite. And even more die because when you take them away from their mother, they have no will to eat. Because I make money from something other than goat milk, and I can afford to turn my boy goats into sort-of house pets, we have two in a small heated shed. I am having to force-feed them to teach them how to eat. It reminds me a little of feeding my own boy babies that hadnt learned to latch onto the nipple. Heres my idea. Im going to learn about how to take care of boy baby goats, and then Im going to figure out how to change the goat cheese industry so that people understand that the moral cost of goat cheese is very high right now. But it doesnt have to be. Somehow I want to try to figure out how to make morally responsible goat cheese. Does anyone have ideas? Also, if you want to know what it looks like to figure out a new idea for a company, heres what looks like: Going down seemingly insane paths, learning skills that may or may not be useful in life, meeting a wide range of people who may or may not help you, and then telling everyone your idea in order to get feedback.

4 Killer Ways to Kick Start Your Business Career

4 Killer Ways to Kick Start Your Business Career The job-market is more crowded than ever before and, because of this, the importance of establishing yourself in an industry should not be underestimated. Business degrees are one of the most popular majors, so it is no surprise that kick starting your business career can be quite a challenge. The business industry is full of diverse people who all have different skills and abilities so it is essential that you find a way to stand out from the crowd and offer a unique contribution in all your work. Here are some suggestions on how to get yourself noticed by business professionals and four killer ways to kick start your own business career. Get Your Degree This may seem like an obvious suggestion, but it is essential that you get a degree in one of the many business subjects. Business degrees are well-known for educating students on the many transferable skills that they will need once working in the industry. For example, a bachelor of business administration will give you the confidence you need to work in a variety of sectors, including corporate finance and accounting, and business management. A business administration degree usually includes the essential aspects of business administration with extra modules such as business law, statistics, and finance also included. Additionally, your bachelor’s degree will include marketing modules, which will not only help you in the workplace, but will help you when job seeking too. Do Work Experience Despite the importance of having a degree, in the modern-day job market it is not enough to guarantee you a kicking business career. You will need to take the skills you learnt during your degree and show that you can use what you learnt in everyday working life. You may not be able to find work experience vacancies in your dream job, but experience in any business sector, for example sales, can help to kick start your business career. Build Up a Portfolio When applying for jobs, you will need to show employers what you have achieved so far. If you are just starting your career, it’s unlikely you’ll have much experience to show. But don’t forget all the work you did during your degree. Make sure you show this off and all the skills you learnt while at university. Be Creative As part of your business degree, you may have completed modules on philosophy and literature. While these subjects may seem unrelated to the foundations of business administration, they can be a great addition to your resume and application forms as they show your creativity and ability to think outside the box.   The same goes for any foreign language qualifications you may have. Your degree, portfolio and experience will stand for nothing unless you have something different to offer. The best way to kick start your business career is to be passionate about the industry and learn as many skills as possible which relate to it. So, make sure you feel strongly about your career path and speak up about your passion if you want to truly stand out to an employer.

What Are the Benefits of Outsourcing Your Resume Writing?

What Are the Benefits of Outsourcing Your Resume Writing?Many employers will not give a second thought to a resume that has been written by a resume writer. They can see the purpose of the document and have a pretty good idea about what to expect in it. Employers do not usually look for the latest and greatest on-line resume writing software. That said, it's certainly not beyond the realms of possibility for someone to create a very nice looking resume, but to be more than simply 'average.'Resume writing is a demanding field. The more proficient and successful the writer becomes, the more expensive the resume is likely to be. The higher the degree of skill and experience an individual has in this type of writing, the more expensive and specialized the resume writing service will be.The question remains, how much experience does one need to write a great resume? There are several major benefits to hiring a professional resume writing service to take care of your job search. There are no guarantees when it comes to writing quality resumes.The first benefit of using a professional service is that the company with which you're doing your hiring (either a freelancer or a firm) is already working on your client's resume. This eliminates any potential of a formatting conflict between you and your client, since all the formatting is already done for you. It also means that the writer who is working on your resume is familiar with the needs of your employer and knows the information and format best for your type of job. The great news is that the writer will be familiar with your company and know exactly what the most suitable format is for your resume.In addition, outsourcing your resume posting and resume posting does cost money. If you do it yourself, you may end up with a lot of work and just have not had the time to complete it. If you hire a professional service, you can avoid the financial hit of trying to complete it yourself and instead will be assured that the skills required to write a good resume is already there.Resume writing involves the right and proper use of formatting in a resume. A lack of understanding of these rules is another major reason why a person should outsource his or her resume writing needs. In addition, inexperienced writers may find it difficult to write a resume that is specifically formatted to accommodate the reader.A free service for resume writing is not always going to be as good as having professionals in place who have worked with your previous employers. For instance, if you had been in sales for two years before applying for the position you have now, your resume is going to read very differently from the resume that is written by someone who has only been in sales for a few months. That said, it is possible to have a great resume written by someone who has been in sales for years. By outsourcing your resume writing, you can be assured that the professional who is writing your resume understands exactly what your job entails and how to put it in the most relevant manner possible.Resume writing is not as easy as it seems. To take full advantage of outsourcing, you must make sure that you understand the importance of hiring a reputable company that can meet your resume writing needs. You should be aware that even if the writer is from a very reputable company, there are still things that go into making a good resume and you need someone who can properly prepare your resume for you.

Top 10 Most Popular Posts from 2014

Top 10 Most Popular Posts from 2014 Though the calendar year is winding down, that doesnt mean you should be winding down your job search! Or perhaps you plan to embark on a new search in 2015. This is a list of the  most popular posts on Careersherpa.net from 2014. Notice the themesocial media or social networking, whatever you choose to call it is a great way to boost your job search. I hope these posts give you some ideas on how to spin your search differently. And if you liked any of them, please, feel free to share! Heres the list in a pdf  Top 10 Most Popular Posts from 2014 @careersherpa! Top 10 Most Popular Posts from 2014 10. Always Customize Your LinkedIn Invitation to Connect 9. 3 Inspiring Visual Resume Examples on SlideShare 8.  Dont Run With the Pack: Use An Infographic Resume 7.  If You Arent Willing to Do This, Then Dont Bother Applying 6.  Social Media CAN Help Your Job Search 5.  10 Crucial Steps To Prepare For The Interview 4.  80 Must-Follow Twitter Accounts 2014 3.  10 LinkedIn Status Updates For Job Seekers 2. 5 Ways to Get More LinkedIn Profile Views 1.  Your Visibility On LinkedIn: What You Need To Know Would you like to receive new posts? Add your email to my list and youll get a new post as soon as it is published! Never miss out on up-to-the-minute news and modern methodologies! Sign up below Subscribe Now! Other Places You Can Read My Work In case you didnt know, I write an weekly article on US News World Report On Careers. You can see them all here. I also regularly contribute to The Undercover Recruiter. Here is what Ive written for them. Last but not least, I am the job search navigation expert on Job-Hunt.org and you can see my articles here.

The Necessary Discomfort in Changing Your Career

The Necessary Discomfort in Changing Your Career Change is going to feel uncomfortable. That is why change can be so difficult. If you want to see a change in your career or your life, it isn’t likely going to be easy and it isn’t going to feel comfortable. Of course, those feelings are necessary for a worthwhile change. To put things in perspective, think of trying to lose weight. It is not a comfortable process. It is not an easy process. We definitely want the results, but we know how difficult the process will be at times. It is difficult to change your behavior and habits. This applies to your career as well. Going to the same job every day may feel comfortable for you. You know what is expected of you, you understand the culture, and, while you might not enjoy the work, you enjoy the feeling of comfort the job provides. For those who are looking to change their career, it most likely wont be easy. It may cause you a lot of discomfort. The first phase of discomfort is figuring out where to start. You might know that you do not enjoy your current job, but you don’t know why. Or, if you do know why you don’t enjoy your job, you don’t know what to do about it. For others, looking for a new job or new career can also feel overwhelming, especially if you haven’t hunted for a job in awhile. The most discomfort can occur when you have been established in a career for many years and are thinking about changing to something completely different. You will have many questions: will you enjoy that work can you monetarily afford to do this new work do you really have the skills for this new work will anyone give you a chance in this new profession without years of experience how many years will the transition take The list of questions can go on and on . . . For some individuals, simply thinking about these factors causes enough discomfort for them to stop the process. For those who still pursue a career transition, the discomfort continues as you address all of the above factors and begin taking steps in the transition. It is not an easy process. This is why some individuals may stay in a career or job that they do not like. Exploring a career change and taking steps in this process is an investment. It’s an investment in yourself and in your future. If you can hang on through the feelings of discomfort, you may realize significant changes in your life.