Daily Dash - May 21, 2008

May 21, 2008

The Latest Business Headlines from WWJ Newsradio 950

Barnes Could Buy Borders | Barnes & Noble, the nation's largest book chain, is studying the possibility of acquiring Ann Arbor-based Borders Group Inc., The Wall Street Journal reports.| Story

Bill Promotes In-State Hiring | A Michigan House-approved measure calls for companies that get state business to hire in-state workers, Crain's Detroit Business reports. | Story

GM, UAW Reach Deal | General Motors has a tentative agreement with United Auto Workers Local 31, covering striking workers at a GM assembly plant in Kansas City. | Story | Related Podcast

Workers Approving Axle Pact | United Auto Workers members at three American Axle plants have voted in favor of a tentative deal that would end a months-long strike. | Story

New Honda Hybrid | The automaker says an improved and affordable gas-electric hybrid will go on sale in the United States, Japan and Europe starting in early 2009. | Story

Inflation Fears Pound Stocks | The Dow fell 199 points Tuesday, or 1.5 percent, to 12,828, the biggest one-day point and percentage loss for the blue-chip average since May 7. | Story

Stories marked with have a related podcast at WWJ.com.
Listen to WWJ Newsradio 950 Live on the Web anytime

 


This Week in 'Your People'

Mentoring programs can reduce turnover, ease succession.

What is and is not mentoring.

Demand for MBAs still strong, survey finds.

Detroit among the least-preferred relocation destinations.

Burger King fires employees over secret blogs.

Background checks turn up more criminal convictions.

Today's Worldwide Automotive Report podcast.

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REDUCE TURNOVER, EASE SUCCESSION PROBLEMS WITH A MENTORING PROGRAM

Six years ago, a high-tech firm contacted Jim Perrone about a big turnover problem: Every three years, the company was losing about 40 percent of its at-home marketing representatives. But a mentoring program made all the difference. By putting employees in regular contact with mentors, the firm was able to reduce its turnover rate to 15 percent in just two years.

Perrone likes to use that example to illustrate just one of the many benefits that a successful mentoring program can deliver to a company. As managing partner of Perrone-Ambrose Associates Inc., a Deerfield, Ill.-based coaching and mentoring firm, Perrone has helped a number of organizations design and implement mentoring programs for the past two decades. More...



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WHAT IT IS AND ISN'T MENTORING: What’s the difference between mentoring and coaching? Coaching is a critical part of mentoring. It's a way of providing one-on-one instruction and feedback to help improve performance. Mentoring, on the other hand, happens when a helpful guide or adviser uses experience to show someone how to avoid making mistakes and advance his or her career. More...

DEMAND FOR MBAS STILL STRONG: Employers may be scaling back when it comes to hiring new employees, but a recent study finds that the demand for MBAs is still bullish despite a sagging economy. The annual GMAC Corporate Recruiters Survey, performed by the Graduate Management Admission Council, found that 70 percent of recruiters who responded to the survey are looking for new hires with MBAs, compared to 64 percent in 2007. More...

DETROIT AMONG LEAST PREFERRED FOR JOB RELOCATIONS: Having problems attracting qualified employees? Your company's location might be part of the problem. “U.S. Cities Play a Role in Attraction Retention,” a recent study by the Human Capital Institute, found that a company's surrounding community can play a big role whether recruits accept job offers and choose to relocate. The study was based on interviews with 806 employees and 443 employers, with roughly one-half of the employer responses from HR professionals. More...

BURGER KING FIRES EMPLOYEES OVER SECRET BLOGS: Burger King officials fired two employees last week after discovering that an executive posted blogs criticizing a farm worker advocacy group. According to the Associated Press, the Miami-based company is embroiled in a PR battle with the Coalition of Immokalee Workers over tomato pickers' wages and working conditions. Burger King officials also said they have discontinued use of a private investigation firm, which is headed by a president who posed as a student activist to infiltrate the farm worker group and its supporters. To read more, click here.

TELECOMMUTING A TREND TO WATCH: With gas prices on the rise, an increasing number of workers are ditching the daily commute for work-at-home arrangements, the Christian Science Monitor reports. And while many tout telecommuting as the ultimate benefit and cost-saving strategy, some say the carpet commute comes with its own set of challenges. Workers say that telecommuting has many benefits there’s no longer a need to dress up, fight traffic, or pack that lunch every day. But some who have opted for work-at-home arrangements say that office-bound workers still have some advantages over carpet commuters. Generally, they have more human contact, better rapport with colleagues, and a greater sense of being part of a team. To read more, click here.

BOOMERS NOT EAGER TO LEAVE WORKFORCE: A new study finds that baby boomers may have mixed feelings about exiting the workforce. And the majority of the 2,556 senior HR professionals polled by the Boston-based Novations Group told researchers that baby boomers do not seem to be in any more of a rush to retire than their predecessors. More...

BACKGROUND CHECKS TURN UP MORE CRIMINAL CONVICTIONS: More companies are stepping up their pre-employment screening, and based on a recent survey, they're also turning up more criminal record convictions. According to the 2008 Hit Ratio Report, released annually by the New York-based risk consulting firm Kroll, the percentage of criminal record convictions that are flagged during the pre-employment screening process is on the rise. In 2007, that percentage rose to 9.5 percent, compared to 9.1 percent in 2006, and 8.5 percent in 2005. The construction, automotive and retail industries had the highest criminal record hit ratios, while education had the lowest. To read more, click here.

WORLDWIDE AUTOMOTIVE REPORT PODCAST: General Motors settles another strike. American Axle moves toward ratification. The cars of the future could look very different.

 

Editorial Staff:
The Daily Dash - Wednesday edition is written and edited by James Melton, Jenny Cromie, Ed Coury, and Matt Roush

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