FREE MONEYS TIPS

Ask any competitive sports’ coach to identify the primary team goal before any given season and he or she would certainly respond with something along the lines of, “to win championships”. The individual tasks of all members of the organization, both big and small, revolve and the realization of this one, all-important goal......

Most businesses operate according to the same basic principle; yet championships instead manifest in the form of augmenting profit margins. Now, in the ever-exasperating world of budget management, it is sometimes difficult to link pay to performance, for how can one determine a specific individual’s impact on the overall budget, and therefore his or her proportional cut of the pie? 

Think of cascading goals like a pyramid: at the top is the single, dominating objective, supported by decreasing layers of goals, that although increasingly-vary as one approaches the bottom, are all connected to the original objective. The top is narrow and controlled by few, while the bottom layers are comprised of the rest of the bunch. Although the direction of the various enterprises is limited to a select group, without the support and aid of its bottom levels, any pyramid is destined to collapse. For this reason, as in sports, the whole success of a business is the sum of each and every one of its parts. This system is more than worth its weight in gold for alleviating some of the stress of budget management. 

‘Cascading goals’ tie an individual’s pay to his or her control over the primary objective. For example, top executives of a company, whose jobs include activities like spearheading marketing campaigns or making big financial decisions, make the most money. In working towards the company’s ultimate goal of garnering greater profits, these individuals make the big decisions and are therefore allotted the greatest percentage of the budget. Along the same lines, managers who might control hiring in a specific region are given a less, yet proportional sum and other employees under them a still less, but still comparable amount. 

For the new employee, working hard hours throughout the long days, the ‘cascading goals’ system should not be seen as an obstacle, but rather as a window of opportunity. Sustained outstanding work etiquette gives way to promotions, which assign the employee with more and more responsibility – and added compensation as his or her professional goals inevitably draw greater connections to those in the top tier of the pyramid. 

There is an added morale benefit to paying for performance. When an employee feels like the work he or she is doing is menial, there is just less excitement in the job. The motivation and desire to take pride in one’s work really aren’t there. However, employees who believe that their work is crucial to the advancement of the business as a whole will almost invariably work to the best of their abilities. 

The ability to peer up the steep slope towards the pinnacle of the pyramid gives them perpetual incentive for the future. 

While an HRMS is not designed specifically to perform the full cascading goal process, however it can be used to track basic HR performance and therefore ultimately affect the HR & Payroll combination of events.

                                         

I think one of the biggest challenges facing business leaders today is sifting through all the potential projects that cross their desks and deciding which initiatives are worth pursuing and which aren't. 

Recently, I got a wild hair and decided I wanted to build a boat. I've searched the Internet for the last several weeks looking for the right "project." I found a builder in Maine who's website convinced me that I wanted to buy the plans to build one of his boats. I measured my garage to see how much space I had to work with and narrowed my choice down to two styles.....

Late last night I wrote him, explained my level of experience, and asked him if he had any advice. His reply came early this morning. He described the characteristics of each boat, including building and sailing, and asked me questions about what I wanted to accomplish with my boat. What was I looking for in the building process as well as what I wanted in sailing the boat later? 

Basically, he presented the business case for each boat including}

1. My goal for building and sailing.

2. The unique characteristics of each boat. 

3. The costs associated with building each boat. 

Business leaders today often face the challenge of too many good ideas and not enough resources to act on them all. Sometimes difficult choices need to be made by organizations doing project based work. Work management tools should facilitate the evaluation of potential projects to help make those decisions based upon something more than whether or not a project is a good project. In today's economy the decision must be based upon whether or not the project is the best project, or will provide the most value. And doing that requires decisions based upon predetermined metrics that include: 

1. Alignment to strategy and vision 

2. An understanding of the potential risks along with any risk mitigation plans 

3. The rewards of the potential project 

4. The costs, including the opportunity cost of not doing a project 

5. The resource requirements 

How does your organization evaluate potential projects for execution? Does your project management software help facilitate those decisions?

Many people in today's real estate market are searching for their next dream home. But not all of them are looking for houses in the suburbs. More and more people are finding themselves drawn to purchasing condos, rather than buying a house or renting an apartment. There are pro and con to any type of property, but condominiums have certain appeal to a variety of buyers. If you are considering buying a condo, take a look at the top 5 reasons to do so. 

1. Lower-Maintenance 

A big selling point for condos is the amount of work and maintenance owners are spared by living in them. When you purchase a condo, you often give up a private yard, but this means no mowing the grass in the dead of summer, no pulling weeds, mulching or spending money on irrigation. You also won't have to worry about keeping up the exterior of your condo's building. Typically, a condo owner is only responsible for repairs and maintenance for the areas within his or her own walls. Lower-maintenance living is appealing to busy career-driven individuals who might not have time to keep up with a yard or other property care. It is also a great option for senior citizens, frequent travellers, or those with health issues. 

2. An Investment - With Benefits 

By buying a condo, many owners feel they are getting the best of both worlds - they own their own piece of real estate, which can be a great investment, and they get to take advantage of all the perks a condo has to offer. Location is also a factor. Many people who live in urban areas don't want to feel restricted to apartment living only, so a condo is a fantastic option for those who want to invest in a home without moving beyond the city limits. 

3. Amenities 

Owners are often drawn to the many amenities that their condo community offers. Similar to the amenities apartments have, condominium complexes often offer things like a pool, gym, tennis courts and more. Some newer communities even offer movie theaters and walking trails. The best part is, the property owner doesn't have to maintain any of those facilities on their own. These amenities are generally paid for by the condo association, and each homeowner contributes by paying monthly or annual dues or fees. 

4. More For Your Money 

Generally, buying a condo is cheaper than buying a house. This isn't always the case for every market, but in many areas the average cost per square foot of a condominium is significantly less than that of a single family home. 

5. Community Spirit 

If you're the type of person who likes to be surrounded by a community, condo life might be perfect for you. Condo residents generally reside in their homes longer than those who rent apartments, which can allow for a great community spirit among residents. Some condo communities even organize social events, to help neighbors get acquainted. This is ideal for someone who is new in town or is busy with work and doesn't get to go out and socialize much. Security can also factor in here, as many condo communities have an active community watch program. Some even have security systems installed in each unit, for extra peace of mind. 

Every home owner is different and a condo might not be for everyone. It's important to be honest with yourself and weigh the benefits against any negatives when it comes to finding the right home for you.