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11/28/04
WORKPLACE Electronic tools are supposed to connect workers faster and make them more efficient. However, e-mail, cellphones, Palm Pilots, and voice mail also create headaches that slow productivity. In a survey of 1,750 US employees conducted by Siemens Communications Inc., 67 percent of the participants complained that they often have to leave multiple e-mail or voice mail messages when they need a timely response from a colleague or client. Often, the information they need arrives after their deadline or later than they expected. As result, some respondents said they've had to delay business decisions because they were unable to access necessary information. Of those polled, nearly 70 percent said they now leave messages on all of the electronic devices used by clients or coworkers. Meanwhile, 56 percent said their laptops, Palm Pilots and cellphones sometimes malfunction when they are working remotely or traveling, causing even more business delays. ''If you talk to workers, they will tell you that oftentimes these major electronic tools create a huge game of phone tag,'' said Barry Lawrence, a Siemens spokesman. ''You might have to send an e-mail, a message to the person's work phone and maybe another message to their home phone and their cellphone before you can reach them. So, you have a situation where billions are being spent by workers on wasted productivity.'' What to do? Some firms are tapping new Web-based solutions that allow team members to correspond with one another faster. Known as unified messaging, these systems let workers put their voice mail and e-mail on one platform. ''So, when you retrieve your e-mail you can also go in, and with a headset attached to the computer, you can listen to all messages without even touching the telephone,'' said Lawrence. Even more advanced, he said, is the concept of ''presence communication.'' Through a collaboration portal, it allows you to reach a colleague, and see whether they are using e-mail, are in a meeting, or on the telephone. ''So, you can know if they are available before you contact them,'' Lawrence said. --DIANE E. LEWIS
BENEFITS During the nation's most recent bear market, traditional pension plans managed by professionals reported better rates of return than 401(k) plans managed by employees, according to Watson Wyatt, the benefits consulting firm. Unlike 401(k) plans, the defined benefit pension or retirement plan has a formula that determines the amount individual workers can expect to receive monthly after they retire. Most of these traditional pension plans are company sponsored. But some are also sponsored by workers or by workers and their employers. The amount employees receive after they retire is determined by their salary history and length of employment. Employers are responsible for any investments in the plan. By contrast, the bulk of the funds in a 401(k) plan are typically paid by employees, but many employers may match a portion of the workers' weekly contribution. In addition, 401(k) plans -- also known as defined contribution plans -- do not have the early retirement incentives typically found in traditional plans. Also, researchers say, the benefits retirees receive from 401(k) plans are usually paid out in a lump sum rather than monthly payments. When Watson Wyatt looked at the two retirement plan types, it found that during the bear market of 2000 to 2002, traditional pension plans achieved higher rates of return, reversing a prior trend in which 401(k) plans boasted better returns between 1997 and 1999. The analysis revealed that both plans performed poorly between 2000 and 2002 because of the declining stock market, but defined benefit plans outperformed 401(k) plans by nearly 4.3 percent in 2000, 3.5 percent in 2001 and 3.8 percent in 2002. ''It is not surprising to see defined benefit plans outperform defined contribution plans during bear markets or at least in slumping markets that follow sustained record-setting bull markets,'' said Watson Wyatt economist Sylvester Schieber. ''While 2000 and 2002 were bad investment years for everyone, defined benefit plans did not slip as far as 401(k) plans partly because the professionals who manage them have fiduciary duty to diversify investments.'' --DIANE E. LEWIS
JOBS Jobs in education and healthcare will surge in the coming years, says Michael Farr, author of ''America's 101 Fastest Growing Jobs.'' Farr is forecasting that the number of postsecondary teachers will increase 38 percent by 2012 or 602,700 as demand for community college, vocational and university instructors rises. Demand for medical assistants will rise 59 percent, adding 214,000 workers to the profession over the next eight years. In addition, demand for home health aides and nursing and psychiatric aides is expected to increase 31 percent, or by 630,000. By contrast, demand for registered nurses will increase 27 percent, resulting in additional 623,200 in the healthcare field, Farr said. According to the Bureau of Labor Statistics, nursing, psychiatric and health aides held about 2 million jobs in 2002, the latest year for which information is available. Of those, nurses aides held about 1.4 million of those jobs. Home health aides held approximately 580,000. The Labor Department reported that nearly half of all nurses aides work in nursing homes, and about one-fourth are employed by hospitals. --DIANE E. LEWIS
YOUTH At-risk youth need help, and a new Boston program hopes to provide it. Last week, the state kicked off its first Pathways to Success by 21 program during a summit in Worcester. The program was unveiled by Jane C. Edmonds, director of Workforce Development for Massachusetts, and by state Education Commissioner David Driscoll. The goal of the program is to help get young people at risk of dropping out of school onto a productive path by the time they are 21. That includes encouraging them to remain in school or acquire the training they will need to get a job. Nearly 50 percent of the 16 to 19-year-olds not enrolled in school in Massachusetts are high school dropouts. In addition, 36 percent of the young people in this category are jobless. Poor white, minority and disabled youth are more likely to leave school, according to the state. ''Today's youth are the workforce of tomorrow,'' said Edmonds. ''This initiative will help us at the state level collaborate at the local level to reach the very people who need to be reached so they can succeed in their personal and professional lives.'' --DIANE E. LEWIS
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