Tuesday, March 23, 2010
Fortune Profiles the Crucial Role of JMOs in Corporate America,
Finding New Job Success,
Congratulations to This Month's Winner,
Proposed Tax Incentives Aim to Encourage Hiring,
OPEC's Market Forecast Report,
Connect with Orion Online
Fortune Profiles the Crucial Role of JMOs in Corporate America
In his recent Fortune article, Brian O’Keefe reveals the ways in which Corporate America is increasingly utilizing Junior Military Officer talent. O’Keefe points out that the increasing presence of JMOs in the workplace is evidenced by the fact that G.I. Jobs Military Friendly Employers List has grown from only 10 employers in 2003 to 100 this year. With such an interest in JMO talent, competition to hire these candidates is becoming fiercer.
O’Keefe cites Wal-Mart as being at the forefront of recognizing the talent JMOs have to offer. When faced with a potential talent shortage, they turned to JMOs and found them to be a “gold mine of talent”. General David Petraeus explains the appeal of this “gold mine” to Fortune by saying, “Tell me anywhere in the business world where a 22- or 23-year-old is responsible for 35 or 40 other individuals on missions that involve life and death.”
According to Jennifer Seidner, a senior recruiting manager at Wal-Mart, they turned to JMOs with the thinking that “…we could bring in world-class talent that was already trained and ready to go.” Wal-Mart set up a program in which newly hired JMOs were paired with Store Manager mentors, so they could get on-the-job training. Orion International played an important role in this hiring initiative by partnering with Wal-Mart to help them bring more than 150 veterans on board.
Two of these placements are Ty Hapworth and Charles Fontenot. Both served as First Lieutenants in Army and National Guard, respectively, and both found the Wal-Mart/Orion partnership to be ideal. “Thanks to Orion’s hiring event, I am a Developmental Store Manager at Wal-Mart. In terms of location (New England), responsibility (managing up to 600 people), and pay (likely six figures with bonus), it is far, far beyond anything I ever expected coming out of the Army after only three years,” says Hapworth. Fontenot agrees: “I couldn't be happier with the position, the company, and the opportunities there are to do things with the company I didn’t think I would be able to do. Orion definitely met my placement needs—they got me a great, well-paying job!”
Corporate America is not just hiring these JMOs; they are setting them up for success with elite management development programs. GE Energy and PepsiCo are among the many companies who either have a program dominated by veterans or solely for veterans. According to O’Keefe, GE Energy’s Junior Officer Leadership Program brings 15 to 25 JMOs on board each year. Veterans account for more than 25% of the Leadership Development Program at PepsiCo, where veterans currently fill seven out of the 25 positions.
No matter what company and position JMOs choose to enter, they continuously excel in their job and bring unparalleled leadership to their companies. O’Keefe’s article is a great example of the value veterans like you bring to the civilian workplace. You can read the original article here
Finding New Job Success
So you’ve landed the dream job you’ve always wanted. What now? The first few weeks in a new job can be absolutely critical in determining your success and future with the company. It isn’t that you have to know every technical detail yet. But your attitude, appearance, and behavior can all set the groundwork for your subsequent value to the company in the years to come.
An article on www.yahoo.com titled, “7 Deadly Sins for New Hires” by Larry Buhl, lists the number one “sin” as being when new employees ignore the culture of the company. To acclimate to the new culture you must ask some vital questions. How do co-workers prefer to communicate? What is the social atmosphere like? How late do employees stay, and when do they arrive? What is the dress code? What is the best way to approach senior management? Are “out of the box” questions welcomed at meetings? Answering these questions and acclimating to the corporate culture can help not only you succeed but also establish positive working relationships with co-workers.
Another key to finding new job success is leaving arrogance at home. Most new hires feel that they have a lot to offer a new company, and they do! But there is a time and place to bring new knowledge to the table. There is also a way of doing it. Instead of coming in with a “know it all attitude”, try and listen to co-workers, and take the time to learn how they do things. After you begin to understand, gently suggest a new way, and don’t criticize their way. Keep an open mind!
Also important is setting groundwork with your direct supervisor. Find out what his or her goals/objectives are. What should your goals/objectives be so they align with your supervisor’s and those of the corporation? How will your success be measured? These are critical measures of success that should be set from day one. Be sure to find out, as well, how your supervisor prefers to communicate? Is it through e-mail, face-to-face, etc.?
Be sure to get out there! Make yourself visible. Let people talk to you, and be friendly. Get to know your new co-workers. Work hard, stay late, and come in early. Allow others to see you are a hard worker and willing to put in “your time”. All of these things can help establish your solid future success with your new company.
Congratulations to This Month's Winner
Proposed Tax Incentives Aim to Encourage Hiring
January 2010 saw the proposal of two important tax incentives aimed at decreasing unemployment rates and encouraging businesses to increase hiring. Both tax credits provide incentives for hiring new workers, and one focuses solely on veterans. While neither tax credit is finalized yet, they could lighten the tax burden on businesses who have been financially hindered by recent economic conditions.
On January 29, President Obama proposed a tax credit worth up to $5000 for every new worker hired this year. The incentive is based on net employees; meaning only additional hires, not those that are hired to replace an employee that has left the company, are eligible. In addition, President Obama proposed a reimbursement of Social Security taxes businesses owe on increases in their payroll this year. If these tax credits gains congressional approval, businesses should be able to start claiming the credit on their 2010 taxes for new hires made this year. The total cost of these incentives is $33 billion, with an expected 1 million businesses positioned to benefit from it.
The other incentive was introduced by Rep. Deborah Halvorson (D-Ill.) on January 13. The Veterans Employment Today (VET) Act of 2010 (H.R. 4443) increases the work opportunity tax credit for hiring disabled veterans. Currently, employers can claim 40% of the first $12,000 in wages for every eligible veteran hired. The VET Action of 2010 would raise the amount of “qualified wages” to $15,000, allowing for a tax credit of $6000, an increase from the current maximum of $4800. The act also proposes that businesses that hire unemployed veterans be able to raise the amount of “qualified wages” from $6,000 to $7,500, which would allow for a maximum tax credit of $3,000. This bill has been referred to the House Committee on Ways and Means.
While unemployment rates remain elevated, the last quarter of 2009 saw the largest rise in GDP in more than six years, with GDP rising at a 5.7% annual rate. Together with the upswing in the economy, these incentives may well help spur the hiring of millions of new workers. For more information on President Obama’s proposed tax credit, click here
OPEC's Market Forecast Report
The Organization of Petroleum Exporting Companies (OPEC), a permanent intergovernmental organization consisting of thirteen member countries across three continents, released its oil report for the month of January. The report discusses major issues affecting the world oil market and provides the crude oil market forecast for the coming year.
The OPEC Reference Basket, a weighted average of prices for petroleum produced by OPEC countries, reached 72.99/barrel in February, representing a 4% decrease. The decline was attributed to economic recovery concerns with particular attention focused on the Euro-zone, including Greece.
World economy in 2010 is forecast to grow 3.4%, following a contraction of 0.9% in 2009. The global economy continues to be supported primarily by government stimulus monies and concerns remain with high unemployment rates and massive debt levels.
World oil demand in 2010 is forecasted to grow by 0.9 mb/d (millions of barrels per day), after a slight contraction of 1.4 mb/d in 2009. This is an upward change of 0.1 mb/d from the earlier assessment.
The US commercial oil inventories was almost unchanged in February at 73 mb above the seasonal average.
Finally, the demand for OPEC crude in 2010 is estimated at 29.0 mb/d, which is approximately 0.2mb/d higher than the previous report. This number continues to represent a decline over the previous year.
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