How to Answer Interview Questions About Your Work Style

How to Answer Interview Questions About Your Work StyleHow to Answer Interview Questions About Your Work StyleWhile thisopen-ended questionmight seem vague, it allows you to showyourself in a positive light. In your response, you can strategically highlight how your work style is a good fit for the company at hand. What the Interviewer Really Wants to Know This question helps interviewers decide whether you will fit in well with thecompany cultureand the requirements of the job. For instance, if you require complete silence and focus to work, but the office has a bustling, collaborative atmosphere (and an open floor plan), you might notlagelage be a strong fit. How to Answer Interview Questions About Your Work Style When answering this question, it is important to keep the particular job in mind. Avoid clichs (like hard worker and good communication skills) and focus on specific elements of your work style that fitwith the position and company. 059 Watch Now 4 Tips for Answe ring Questions About Work Style This question is far easier to answer if youdosome researchbefore the job interview. Analyze the job listing tomatch your qualifications with their requirements, and prepare answers that show how your work style makes you the best candidate for the job. Then, go a little further. Review the companys website, media kit (almost always available on their site), and social media presence to learn which qualities are most valued at the organization. Most employers have a strong idea of the kind of person wholl succeed on their team, whether its someone willing to do whatever it takes or a worker wholl build lasting relationships. Its also important to be honest, while still highlighting the positive. Dont claim to be a perfectionist if youre a big-picture person instead, emphasize your vision and commitment to quality. Examples of the Best Answers My work style is extremely flexible- working on so many different projects requires me to be adaptive. In general, I try to work on one project at a time, working as quickly, but efficiently, as possible to achieve the best results. All of my projects require collaboration, so I use the team environment to check for errors. I am a perfectionist and a driven worker, and I think my clear communication skills allow me to bring out the best in any team, in any project. ExpandWhy It Works This answer establishes the candidates preferred work style (one project at a time) while also highlighting other key workplace skills, such as flexibility and collaboration. Unless the job description specifically called for multitasking, this response ticks off a lot of positive in-demand qualities for candidates. I am extremely dependable. I have rarely missed a days work, and am known for coming in early and staying late to finish important tasks and achieve results. This dependability extends to my collaborative work as well. I always meet deadlines and help my teammates to meet theirs as well. For ex ample, on my last project a teammate was struggling to complete his assignment for the team, and I stayed late every day that week to help him not only complete his assignment, but exceed our initial estimatedturnaroundtime for the project. ExpandWhy It Works This answer gets its power from the examples provided. Hiring managers value employees who show willingness to go the extra mile and stab und sttze co-workers. Ialwayskeep on top of my projects. Owing to my organizational skills and efficiency, I can successfullyjuggle multiple projects at once. While I complete most of my work independently, I greatly value input and will consult with team members to ensure were all on the same track. I also appreciate checking in regularly with my boss to update her on my progress and ask about any issues that have arisen. This open communication helps me complete tasks efficiently and accurately. ExpandWhy It Works This answer highlights the candidates strengths and shows a flexible nature. Tips for Giving the Best Answer Think Through Your Work StyleDo you work fast? Enjoy collaboration? Try to do your hardest project in the early morning? Have a preferred way of engaging with your manager? These are all things you can discuss in your answer. Be BriefYou cant mention every aspect of your work style in your response, most likely, so focus on the elements that demonstrate your best qualities and fit with the job at hand. Give ExamplesConsider including a brief example that emphasizes your work style. For example, mention a time when your efficiency andability to multitask helped you complete an assignment a week beforethedeadline. Be HonestIf you truly cant work when your desk ispiledupwithdocuments, be upfront. But do try to be cautious about any overly firm statements about your work environment needs. If youre still not sure how to frame your response, consider focusing on one of these areas Speed and accuracy If you work quickly and efficiently, you might mentio n this in your answer, especially if the job requires meeting tight deadlines. However, its important to impress the interviewer with your competency and accuracy, rather than just your speed. If you say you work at a fast and steady pace, emphasize the strategies you use to avoid making mistakes.Structuring your day You may want to focus on how you organize your day. Do you prefer to do your most difficult tasks in the morning? Do you prefer to focus on one assignment at a time, or multitask? You might also mention how many hours you typically work. If you are someone who always goes above and beyond, and stays late to complete tasks, say so. Working alone or in collaboration The employer might want to know whether you prefer to work solo or collaboratively. Think carefully about the job before answering this question. Most jobs require at least some collaboration, so even if you prefer towork alone, emphasize that you value others input.Taking direction Another important element o f your work style is how you like to communicate with your boss. Do you prefer to beguided, or do you like to be given a task and left alone to complete it? Thinking about your ideal relationship with your employer will help both you and the interviewer decide whether you area good fit for the job. Your communication style If this job requires constant communication, you might want to emphasize how you communicate with employers, staff, and clients throughout the workday. Do you prefer tocommunicatebyemail, phone conversations, or face-to-face meetings? Again, think about what this job requires before you answer. Most jobs will require a combination of communication tactics. What Not to Do GiveOverly Specific, Rigid ResponsesUnless you can very precisely nail down both the company and the interviewers preferred work style, its best not to be too definitive. If you say, I work best alone and the manager wants a team player, youll have automatically disqualified yourself. UseClich sDuring interviews, everyone is a hard worker, detail-oriented, and a team player. Its fine to claim these traits for yourself, but since these words and phrases are uttered so frequently, back them up with examples ifyouusethem. Be Dishonest or Fail to Answer the QuestionsWhile you do not want to be too specific and make yourself seem rigid, its also unwise to be so vague in your response that the interviewer doesnt get a sense of you as an employee. We all have preferences when it comes to our workplace. This is your moment to share yours. If you truly dislike morning meetings, or have some other quirk, itmaybeworthmentioning it in your response. Possible Follow-Up Questions Whats your work philosophy?What type of work environment do you prefer?How would you handle a hostile work environment?How would you handle it if you were working on a project with someone who had a very different work style to you?How do you like to work with managers?Whats your preferred communication st yle? Key Takeaways DO RESEARCH The more you know about the companys work environment and style, the more youll be able to tailor your response to show that youd easily fit in.BE HONEST If you have one condition that must be honigwein in order for you to work efficiently, its reasonable to mention it. For example, if you tend to have lots of questions at the start of a project, you might want to mention that.BEYOND CLICHS Examples are always more meaningful than a long string of descriptors (like hard worker) that hiring managers hear all the time in interviews.

We bring holiday stress upon ourselves, survey finds

We bring holiday stress upon ourselves, survey findsWe bring holiday stress upon ourselves, survey findsAmericans are pushed to the brink with holiday stress, overwhelmed by financial concerns, family events, gift shopping, and just trying to balance it all like so many spinning plates.Some of the pain is self-inflicted 1 in 4 say theyve taken on more than they can realistically get done, shows a new survey byVitalsmarts, a leadership training company.Ready to dropThe top 5 holiday causes of stress were found to be56% Keeping up with, well, everyone, from activities to expectations50% Money, or lack thereof46% Shopping.33% Family events26% Maintaining physical healthMost of us struggle to keep up with the schedules and pressures of non-holiday life, says Justin Hale, co-creator of Getting Things Done Training by VitalSmarts. When you pile on additional commitments and ersatzdarsteller your to-do list, your stress levels grow exponentially.Cant say noAs stressed as we say we are, it might not hurt if some of us slowed down a little. A fair number of respondents suffered from all-or-nothing attitudes when it came to holiday activities, which only contributed to the stress.27% percent never declined an invitation for a party or event10% say they had no rules for their health or diet during the holidays, with 44% figuring that theyd start dieting or eating healthy in January.10% said they drink to excess and always needed a designated driver after a holiday party.29% cant stick to a budget during the holidays and rely on a credit card.Nearly 60 percent of people dont have clear lists of their commitments and its hard to renegotiate commitments you dont remember making or dont keep track of, Hale said.It looks like there are a few areas we can help ourselves cut back to make the season happier instead of stuffing our gullets with as much food, alcohol, social events, and credit card debt as humanly possible. Slow holidays movement, anyone?

5 Impressive Interview Questions to Ask as a Candidate

5 Impressive Interview Questions to Ask as a Candidate5 Impressive Interview Questions to Ask as a CandidateIn todays job market, employers want- and expect- job candidates to come armed with their own array of questions. In fact, not having a question to query your potential employer with might make all the difference between getting a callback for a follow-up interview or not. So the next time youre asked by an employer, Do you have any questions for me? be sure to whip out any one of these five impressive interview questions to ask as a candidateHere are five impressive interview questions to ask as a candidate1. How would you describe the companys culture?Many companies pride themselves on their culture, and its best to have a clear understanding of what that entails. It might be empowering employees to ensure the best customer service, remote team-building retreats, workplace flexibility, or even free meals and yoga classes (were looking at you, Twitter).Its important to keep in mind that employers are not looking to just hire workers, but rather invest in employees who share a common vision and desire- and that typically means being a fan of the companys culture.No matter what industry youre in, you should always think about asking an impressive question (or have one ready) during any job interview. It shows a prospective employer that you dont just want a job, but you want a career with their company.2. How will my work contribute to the companys mission?Every company, big or small, has a mission. And every job within that organization somehow ties in to the bigger picture of that mission. So its important to understand that your job is not just another cog in the wheel but rather a critical component of the companys overall success.By wanting to comprehend how your job fits in with the bigger picture, youre showing that you, too, are thinking about the bigger picture and want to be a valued asset in contributing to the companys mission.3. What is the mo st important task I can accomplish within the first 30 days?Typically, the first few weeks of any new job are a learning curve. So by asking a potential employer what you can tackle shows that youre goal oriented and focused on success. Second, it highlights to a potential employer that you are not looking to coast through your first few weeks but rather come in and make your mark instead, which is highly attractive to an employer.4. How does the company define success?Sure, a healthy bottom line is the goal of any organization, but what does the company youre interviewing with consider success? Maybe its also having a huge humanitarian impact, or creating a workplace environment that is one of mutual respect and leadership.Whatever the case, knowing what the company considers success- and what it doesnt- can show that youre interested in not just clocking in and getting the job done, but helping the organization to achieve its own brand of success.5. What are some of your pain poin ts?Maybe its the companys poor social media strategy. Or it might be that seasonal sales are slumping more than they should be. By asking what problems your potential employer is currently facing, youre showing that youre a problem-solver and not just looking to go with the flow.Getting ready for a big interview? Check out our job interviewing tips category.

3 Fast and Easy Ways to Avoid Burnout at Work - The Muse

3 Fast and Easy Ways to Avoid Burnout at Work - The Muse3 Fast and Easy Ways to Avoid Burnout at WorkYou want to know the problem with the majority of stress remedies you hear? They take a while to set in motion and start working. Same goes with job burnout.And when youre feeling that overwhelmed and that overburdened, the last think you want to do is set a 30-day plan in motion. No, you want to feel better now. Heres how1. Just Say NoI know that saying no is easier said than done, but not everything can be a priority. Its critical to let the people you work with know you have limited bandwidth, resources, and time. Practice relentless re-prioritization so that any new, more important projects will push older, inconsequential projects to the side unless otherwise specified.A great tool to use to help prioritize activities is the acronym WIN, which stands for the question, Whats important now? It was coined by motivational speaker and legendary college football coach Lou Holtz in his book, Winning Every Day The Game Plan for Success. Holtz would have his college players ask themselves the WIN question 35 times a day to help them stay focused on what mattered most in every aspect of their college experience. When this simple, yet powerful, assessment question is coupled with a strong willingness to say no, the result is dramatic. This one-two combination will help improve your sense of control, level expectations, maintain a sustainable workload, and realign priorities- all of which dampen job burnout.2. Goof OffYou have permission to mess around right now. Science says so. Educational and behavioral experts have long known the benefits of play (or mental distraction) when it comes to finding solutions to tricky issues. F.P. Hughes explains the seemingly simple concept is actually composed of three complex, yet beneficial, elements that are applicable to the workplace and help combat burnout. The first elements a personality characteristic, which represents a per sons idea of himself and his attitude toward others. While playing, this element tends to manifest as spontaneity, curiosity, and persistence. Next, theres an intellectual process that shapes the way we think and problem solve. While psychologists have a tough time putting their finger on the exact point of overlap between play, creativity, and intelligence, they believe it relates to asking original questions, making unusual connections, as well as having relaxed thoughts that focus on analogies and metaphors. Lastly, Hughes points out that the action of playing helps contribute to creative results, which typically take the form of novel solutions, new insights, or process improvements.The bottom line is that when all three of those elements come together, its difficult to separate work from play. Its truly a magic elixir against stress. So, break out the hacky sack- OK, fine, 2048- now3. RelaxA February article from Harvard Medical School found that meditation reduces stress, irri tability, and anxiety. Plus, it improves sleep. And while an increasing number of Americans are reaping these benefits, still less than 10% of the U.S. population engages in any form of meditation or directed relaxation.If you dont know the difference between a chakra and a piece of okra, turn to YouTube. Seriously I use this quick 13-minute video by Qi Gong instructor, Lee Holden. While he recorded the video to be used as a nightly relaxation ritual before bed to promote a restful night sleep, I do it first thing in the morning and during lunch to help me relax during the day. Its amazing, it works, its free, and you can press play right now.Perhaps the most interesting aspect of job burnout is that its less about the actual job stress itself and more about the manner in which the person in that job responds to it. Hopefully your preventative response to job stress going forward will be No. Play. Ohm Photo of stress ball courtesy of Shutterstock.

5 Ways to Use Your Summer Fridays to Find a New Job

5 Ways to Use Your Summer Fridays to Find a New Job5 Ways to Use Your Summer Fridays to Find a New Job If youre lucky enough to have Friday afternoons off from work during the summer months, its probably tempting to head straight home, to the beach, or out with your friends when its time to leave the office. But by investing your free time on Friday afternoons into your job search , you can accelerate it in several meaningful ways. Though most employers are unlikely to schedule formal interviews on Friday afternoons during the summer, there are plenty of other ways you can get ahead. Here, find five key ways to ensure your Summer Fridays are well spent, straight from job search pros. It can be tough to set aside time to really figure out what youre looking for in a job and potential employer, and Summer Fridays are the perfect time to do it. Use all your resources to understand what the kind of company you want to work for is like, suggests Joshua M. Evans , a caree r coach and owner of an HR consultancy firm. Research can also help you immensely if you make it to the interview stage. Checking out articles, looking at their businesss social media accounts, and jumping on LinkedIn to understand who works for them and how you can be introduced can be immensely valuable in giving you a leg up, Evans says. Scheduling informational meetings and informal catch-ups can be difficult logistically during the work week, but people often have mora flexibility on Summer Fridays if their employer offers them, making it an ideal time to get some networking done. People often say, Its not what you know, its who you know, and though not entirely true, because you do need skills for a job, finding a job is a lot easier if you know someone within the industry or at a company themselves, says Steve Pritchard, HR Manager at Cuuver.com . Ask friends, family or even former employers if they know of any jobs, or to meet up for a coffee and a catch up to network and s ee what opportunities may lie on the horizon.If you dont normally work well at home, its best to take your Summer Friday job hunting efforts elsewhere. It is too tempting to take time off when the weather is nice and youve just had a long week at work, notes Debra Boggs, co-founder of D&S Professional Coaching . To keep from getting distracted, go directly to a coffee shop or library and set a specific amount of time that youll spend looking for and applying to jobs. Yes, really. Though phone calls about job applications have fallen out of fashion, experts say Summer Fridays are a uniquely good time to pick up the phone. Proactively call people that do the hiring at a company you want to work for, Evans recommends. People, especially those in recruiting, are often mora friendly on Fridays. If you reach out to them in the morning, they will have more time to chat and can even be in a good enough mood to offer to bring you in for an interview. People associate their good feelings on Friday with a good feeling about you.If a career switch is in your future, Summer Fridays are a great time to build your skills and contacts in your new market, explains Dawn Graham, PhD , a career coach and Career Director for the MBA Program for Executives at The Wharton School at the University of Pennsylvania. Volunteer for a non-profit practicing your data analytics skills, explore a self-created internship with a company in your target industry, start a side hustle offering services in your target function, and attend conferences where professionals in your dream field will be congregated,she suggests. Its tempting to want to begin the weekend early, but a few months of strategic action could be the foundation for your new career

Life After What Is a Resume Cover Letter

Life After What Is a Resume Cover Letter What Is a Resume Cover Letter the Ultimate Convenience To help you easily earn a cover letter, you firstly need to understand what it is and the way its different from a resume. In the vorstellung the letter is leid going to impress themthey might perhaps not even inspect the application form form. When your letter was prepared, take a little time and energy to make alterations. A cover letter highlights your experience which are most useful to the prospective employer. Its possible for you to impress new customers or possible employers by showcase your very best work samples. Beneath, youre going to find students grant program letter sample. It may be hard to understand just what the work actually involves. The majority of the technical skills can be quickly learned at work, so prior experience isnt required either. Think of the main portions of your qualificationsthe things which you would want to have an employer to know right off t he bat. Anyone who would like to set you in charge of children may wish to see evidence that youre trustworthy and dependable. Thus make certain that the resume will speak a million things about you. Somewhat, before composing any kind of statement, someone must pin point the candidates very best characteristics. The Argument About What Is a Resume Cover Letter Possibly a Director would be prepared to work as a Manager. In the event the listing puts a huge emphasis on project management, be certain to add this to the title. Moreover, job titles can be useful tools you may use to look for jobs in your industry. Our 5-step small business analyst job search procedure will help you through what you will need to do in order to get hired as a business analyst.The standard of your resume may ostensibly learn whether or not you may be provided a work offer. You sit down to create the absolute most financially important document you could ever own, You compose a document that attemp ts to capture everything you believe is important and of which youre proud. Take a look at the requirements for a selection of jobs you want to apply for, and build a resume profile title that contains the most crucial requirements from each. The most usual format is chronological. The Basic Facts of What Is a Resume Cover Letter In some nations, a CV is typically the very first eintrag a prospective employer encounters concerning the job seeker and is typically utilised to screen applicants, often followed by means of an interview. The information that you include in your resume and the layout of your resume will ride on your abilities and experience in regard to your career objective. The rule is if the sort of work is comparable, show both job titles. Technically you may change your job title, but its not wise. The matter with changing your work title is it wont match your employment history. The challenge of being a true student searching for a job tends to be an absence of prior job experience. Now, A resume title works out a whole lot in helping someone know more concerning the individual in an extremely attractive way. Thus a title must have each of the words which make an individual learn more about you. A profile title must contain keywords particular to the job for which youre applying. The title of your resume should map to the sort of job you are searching for. A resume headline (also called a resume title) is a succinct phrase that highlights your value for a candidate. If you have little job experience or youre just going into the work market for the very first time, the headline will provide you with an opportunity to split the qualities which will help you grow your career. If youre responding to a particular job in an ad, use the exact wording, otherwise it can look as though you didnt read the ad carefully. As you might have guessed, the words utilized in the title should always match the words utilized in the work description.

Continuing Education Perks and Pitfalls - Spark Hire

Continuing Education Perks and Pitfalls - Spark HireEmployee compensation talks usually center around a dollar figure. However, perks like continuing education can be an integral part of the benefits package offered to your employees. It can also increase employee loyalty and productivity. Still, this benefit has the potential to backfire on your company if not effectively managed. Here are some tips for creating an effective continuing education benefit for your companyor some ideas for freshening up your current policy.First off, why provide continuing education benefits? While perks like tuition reimbursement obviously benefit employees, development work like this can have a positive impact on a companys bottom line. Not only do employees who participate in continuing education bring mora current, innovative ideas to the table at work, but they alsotend to be more engaged and loyal to their employers. You have the indirect and long-term profitability of cultivating a more talented workforce (not to discount the possibility of one lucrative bright idea), plus the direct cost savings of a low turnover rate. Theres no downside Well, except the thousands of dollars in tuition reimbursement lets talk about that next.Tuition reimbursement is only one type of continuing education benefit. Other development perks might be flex scheduling to attend classes, paid fees for seminars/conferences, or hiring an instructor to teach a course for select staff. Instead of paying for your entire design department to take a college course, consider paying someone to teach a workshop a few times a year.Tuition reimbursement does remain the most common form of continuing education perk, especially as part of a compensation package. However, many companies take steps to keep this employee development work from backfiring on them. First, many tuition reimbursement benefits are tied to how well an employee does in a course. An A might earn full reimbursement, a B 80% and so on, with the possibility of no reimbursement for a failing grade.Employers should also consider incentives to keep an employee with the company after they have received their education compensation. A well-educated employee is more valuable on the marketplace, and you might be obliged to pay them moreor risk them leaving. Develop your compensation plan to reward specific behavior. For example, consider offering the tuition reimbursement as part of an employee development plan leading to a promotion. Upon completion of their education, a promotion makes an employee less likely to depart. Many companies also limit tuition reimbursement perks to employees who have been with the company for a few years.How do you implement continuing education at your company? Is it part of a compensation package, or an overall employee development plan? Share tips and questions belowIMAGE Courtesy of Flickr byshiladsen

TED Talk Think of Near-Wins for Job Search Motivation

TED Talk Think of Near-Wins for Job Search MotivationTED Talk Think of Near-Wins for Job Search Motivation14In the YouTube TED talk video, Sarah Lewis Embrace the Near Win, Sarah talks about the importance of the near-win. As an art historian, she was studying painter Elizabeth Murrays works. When she spoke to Murray, she admitted that some of her works didnt meet the mark of what she wanted them to be. In fact, she put one out into the trash, and a neighbor picked it up because she saw its true value.In that moment, Lewis discovered what success truly meant. Success is a moment, she says. But what were always celebrating is creativity and mastery. She also tells the story of a group of archers who both make and miss their marks during a training session. She realized that success is hitting that ten-ring, but mastery is knowing that it means nothing if you cant do it again and again.Lewis points out that mastery is not the same as success. Success is an event, a label that the world confers upon youMastery is not a commitment to a goal, but to a constant pursuit, says Lewis.Thats why its important to value- and celebrate- the near-win.Heres how you can think of your near-wins for job search motivation and successYou go on job bewerbungsgesprchs- but dont get hired.It can be extremely frustrating to get all excited for a job interview, assume that it went well, and then never hear back from a potential employer. But before you blame yourself, use these near-wins as an opportunity for self-reflection. Maybe your interviewing skills need some polishing- if thats the case, you can practice answering typical questions (and some strange interview questions too) before going in for the interview. You can also view these interviews as a chance to perhaps realize that the job (or industry) you thought you wanted to be in is not something that you like after all.And you have to know that if you dont get the job, theres another one, a better one, waiting just around the corner for you. Promise.You do have a job- but you hate it.Sure you have a job and it pays the bills, but you abhor having to commute into work each and every day, sitting in a cubicle, and dreaming of what your life could really look like. While a job that you really dont like might feel like a mistake, its actually a near-win, if you think about it. Sometimes, doing something that you dont like prepares you for the next big thing. Youll know, as you start your job search, the types of jobs you dont want, which is almost as good as knowing exactly what it is that you want to doIn the grand scheme of your career, though, you will almost always find that every job, in some way, shape, or form, has helped contribute to who you are in your professional life. Maybe it was a certification that you got or an online class that you took, but every job, no matter how seemingly irrelevant it is to your life at the time, will help you in your career.You have a passion that isnt profitable.Lets say that you have a day job that you like, but you have a hobby that you live and breathe for. Although you might think that its unsuccessful because youre not making much (if any) money off of it, having a passion that isnt profitable is most definitely a positive near-win in your career. It will keep you moving forward doing something that you love, as you slowly become a master at what you do. Mastery is an ever-onward almost, says Lewis. Mastery is in the reaching, not the arriving. Whether you turn your hobby into a full-fledged career is actually irrelevant. Simply be grateful that you have found a passion that ignites a fire within you, and enjoy it, without worrying about numbers or earnings. Just enjoy the process as you become a master of it. According to Lewis, Mastery is about sacrificing for your craft, and not for the sake of crafting your career.The near-win is an essential part of your job search as well as your career. You will learn far mora from your near-wins th an you will from your momentary victories. Says Lewis Coming close to what you thought you wanted can help you attain more than you ever dreamed you could.Readers, what do you think of this amazing TED talk? How do you now look at your job search in light of your own near-wins? Does it help give you job search motivation? Let us know in the comments

Understanding Total Cost of Ownership (TCO) in Business

Understanding Total Cost of Ownership (TCO) in BusinessUnderstanding Total Cost of Ownership (TCO) in BusinessIn the world of big business, the concept of Total Cost of Ownership (TCO) is important for both buyers and sellers alike. As a buyer, the anfangsbuchstabe cost of acquiring the product may be relatively small when compared to the annual cost forthe maintenance and support of the product. Effective managers research their products in order to establish an understanding of the expected total cost of ownership over the life expectancy of the offering. As a seller, your clients will typically compare your offerings versus competitors from a Total Cost of Ownership perspective. Top salespeople understand their clients concern over TCO and incorporate this into their proposals in order to assist the buyer in the evaluation process. Basics of Total Cost of Ownership By design, Total Cost of Ownership(TCO) is a calculation designed to help people make mora informed financial de cisions. Rather than just looking at the purchase price of an object, TCO looks at the complete cost from purchase to disposal including expected costs to be incurred during the lifetime of the product, such as service, repair, and insurance. TCO is factored into the cost-benefit analysis. Total Cost of Ownership Is Not New Although TCO is often referenced in connection with Information Technology (IT) the concept has been around since the 1950s and 1960s when it was regularly discussed in the elevator industry. Some experts believe the concept (if not the term) dates back to Napoleons time when engineers began to pay very close attention to issues like the effectiveness of cannons and how easily they were moved and repaired, and for how long they lasted in active service. Total Cost of Ownership Varies by Industry The additional costs that must be added to the initial purchase price to calculate the total cost of ownership (TCO) vary by industry Information Technology Hardw are. TCO has been used extensively in the acquisition of information technology hardware. Estimates for the TCO of hardware typically estimates thecost for out-of-warranty repairs, the cost of annual service agreements, and the prorated cost of additional hardware and software required to leverage the hardware. As the number of web service providers continues to increase, more and more IT firms lease space from these providers, thus eliminating large investments in hardware and, consequently, reducing the annual costs and the TCO incurred for running a firms software applications. Traditional Software Licensing. For much of the history of the software industry, licensing was purchased based on an initial cost (or license fee) plus an annual software maintenance fee which was calculated as a percentage of the original license fee. Initially, this annual maintenance agreement included bug fixes and feature upgrades when available. However, this type of perpetual licensing has lost pop ularity in favor of subscription-based licensing whereby the client re-purchases the right to use the software on an annual basis. Automobile industry. Edmunds.com has a TCO calculator that adds depreciation, interest, taxes and fees, insurance premiums, fuel costs, maintenance, and repairs to the purchase price of a car or truck.Financial industry. Many mutual funds and similar products charge quarterly management fees and/or have withdrawal charges. These indirect costs must be considered when calculating the true cost of these investments. Considerations for TCO Calculations Consider the following nuances when attempting to understand the TCO of anoffering Hidden costs are always a concern. For example, a new software package might require initial training for users and supplemental training for new users moving forward.The method of financing will impact the total cost of ownership and the accounting treatment for deductions, capitalized expenses, and depreciation which will impact a detailed TCO calculation. Be sure to work with your accounting or finance department to ensure you have a complete picture of all of the implications (and costs or deductions) associated with your purchase. Dont forget labor costs. You may gain efficiencies from new investments, thus reducing overall operating costs. The benefits from these efficiencies may actually defray or outweigh, the actual costs. Conversely, you may incur additional labor costs as a result of the investment.Total Cost of Ownership often changes over time. Logically, your annual repair costs for an automobile will rise as it ages, as will the cost of servicing the car based on inflation. Make sure you factor in expected changes in costs over the lifetime of the vehicle.

5 Ways to Boost Your Job Search During the Holidays

5 Ways to Boost Your Job Search During the Holidays5 Ways to Boost Your Job Search During the HolidaysThe job market doesnt take the holidays off and neither should you. While your competition is busy sipping eggnog, take advantage of this opportunity to move your job search efforts ahead. Follow the five strategies below this season to get a head start on your search for the New Year.Make a listand check it twiceThere are only so many hours in the day, and chances are youll have your hands extra full with holiday preparations. Take a look at your calendar now and prioritize your activities. When and where can you invest in your job search? What holiday happenings can serve double-duty as job-search activities?Be merryYour attitude can make or break your job-search efforts. Remember, companies are still hiring in fact, many recruiters are under pressure to fill roles before the end of the year. Push away any thoughts of gloom and exude a confident state-of-mind, both online and offl ine, to move your job search in the right direction.Send seasons greetingsUse the holidays as an excuse to reengage with your rolodex of contacts. Send your well wishes in a holiday card or schmelzglas and invite key contacts out for a cup of hot cider to catch up. Send seasons greetings to recruiters youve worked with and employers youve interviewed with in the past to update them on your most recent job-search activities and reiterate your interest in working with them in the future.Turn events into opportunitiesTis the season for holiday parties, open houses, family get-togethersand networking Check your industrys trade associations for holiday mixers and attend parties hosted by your friends and family. Before each event, think about how you will modify your elevator pitch to suit the audience and occasion. Will they understand your industrys jargon, or do you need to discuss your potential value and job goals in broader strokes?Treat yourselfCapitalize on holiday sales to upda te your job-search tools. These could include anything from your interview and networking outfits, to a new briefcase or portfolio, to a professionally written resume or a set of geschftliches miteinander cards. Is your family nagging you for gift ideas? Scope out the stores and ask for specific items or gift cards to boost your job-search efforts.Try incorporating these strategies into your plans over the next few weeks and youll have a head start on the New Years revolutionists. Click on the following link for more information about job seeking during the holidays.