Monday, December 1, 2008
The Top Ten Habits That Your Boss Loves,
Defining A Recession,
Monthly Contest Winner,
2009 Construction Industry Forecast
The Top Ten Habits That Your Boss Loves
Naturally, all bosses and supervisors want their employees to perform well. But what exactly is it that makes them regard one employee more highly over another? In other words, what habits can you possess that your boss will love? According to an article by Margaret Steen for Yahoo Hotjobs, these are the habits that your boss is looking for:
Communication – Err on the side of giving your boss too much information and let the boss tell you when you’re communicating too much. It’s better for your boss to be “in the loop” than out.
Acknowledgement – Your boss will appreciate responsive listening. Let him/her know that you understand and acknowledge what they are saying, and follow through by completing tasks accurately.
Collaboration – Respond to new ideas positively, without too much constructive criticism. Be willing to discuss new ideas and collaborate with others to accomplish goals and tasks.
Relationships – Building good relationships with customers and other employees will reflect well on your boss. Keeping yourself and your department isolated will only make your boss look bad.
Understanding Your Place – Your boss’s personality is incredibly important. If you boss is someone who is detail-oriented, perhaps a fresh “out of the box” approach will help your boss, and thus you, be more successful.
Learn His/Her Pet Peeves – This one is pretty obvious. Whatever habits your boss despises, don’t do them. For example, if your boss hates to be interrupted during a meeting, by all means, DO NOT interrupt a meeting. Pay attention to what causes your boss frustration and then veer in the opposite direction.
Anticipation – After working with your boss for a while, you should be able to know what questions or information will be requested when you go to him/her. Be sure to anticipate your boss’s needs and meet them prior to any discussions.
Think Above – Always think about what your boss or the next level up would do. Your job needs to be done first, but remember that when promotions are considered, people who understand what the next level needs, will always have the advantage.
Be Open – Do not dismiss new ideas and be open to new ways of thinking. If you are stuck in a rut, you will ultimately stay there. If you don’t think something new will work, discuss it in a mature and open way. Don’t just dismiss new ideas.
Be Engaged – Be interested and engaged in your work. Stay on top of industry trends and have discussions about what is best for the company and your field. Show interest and enthusiasm.
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Defining a Recession
The media is buzzing with the question of whether or not we are in a recession. Most experts agree, though, that we are either heading towards a recession or already in one. So what exactly defines a recession? Simply speaking, a recession is a contraction in the US business cycle. The National Bureau of Economic Research (NBER), the nation’s leading economic research organization, defines a recession as, “a significant decline in economic activity spread across the economy, lasting more than a few months, normally visible in real GDP (Gross Domestic Product) growth, real personal income, employment (non-farm payrolls), industrial production, and wholesale-retail sales.” In some cases a sustained recession can develop into a depression.
There are some business and investment organizations that define a recession as two consecutive quarters of contraction (negative growth) of GDP (the total market value of all final goods and services produced during a given period of time). This definition is common among the media and other outlets, however it is not used by the NBER and other key economic organizations, which add unemployment numbers to their indices.
So what exactly causes a recession? There are several key indicators that a recession is looming. According to an article on www.morebusiness.com titled, "10 Causes of Economic Recession," the following are the ten key inidcators that a recession is around the corner:
• The rate of joblessness assumes disturbing proportions
• Large companies start giving depressing profit figures
• Borrowers start defaulting
• Credit card purchases shoot up
• Prices of essential commodities shoots up
• Companies stop filling vacancies
• Prices of property and stocks come down drastically, but nobody buys them
• The Country's GDP goes down
• Savings are used for day-to-day expenses
• You start worrying about all of the above
Regardless of the definition or cause, the most important thing the US faces now is recovery. The outcome cannot be predicted, and it will take a great deal of sacrifice and work to climb out of the current economic situation. However, many economists remain hopeful that this recession will eventually end, and we can avoid a depression.
Congratulations to This Month's Winner
2009 Construction Industry Forecast
The “2009 Construction Outlook” is a report on industry trends and economic forecasts that affect the construction industry as reported by McGraw-Hill Construction. The report updates information on the economic construction industry as well as an overview of the different markets and forecast tables. An overview, provided on the McGraw-Hill website summarizes several key points for 2009:
• “The U.S. economy has clearly slowed in 2008, as reflected in nine straight months of job losses. While the GDP statistics held up fairly well during the first half of the year, growth is likely to turn negative in the third and fourth quarters. For 2008 as a whole, economic growth is projected to be 1.6%, followed by just 1.0% expansion in 2009.”
• “The turmoil in the financial markets, accompanied by credit markets freezing up, is the major near term risk facing the construction industry. The steps taken to restore liquidity are expected to have some beneficial impact, but only gradually.”
• “The financial turmoil is adversely affecting the fiscal health of states and localities, making it more difficult to raise short-term debt to manage cash flow, as well as increasing the cost of bond financing.”
McGraw-Hill Construction provides project and product information, industry news, forecasts and trends for the construction industry. McGraw-Hill Construction serves more than one million customers within the $4.6 trillion global construction industry. Visit www.construction.com for additional information and to read the “2009 Construction Outlook” report in its entirety.