•  EMPLOYEES STILL DON’T TAKE SMARTPHONE SECURITY SERIOUSLY. A new study of over 500 workers in large American companies with BYOD (Bring Your Own Device) policies found almost half admitting they “accessed sensitive corporate data on personal devices via unsecured networks, such as those at coffee shops or airports… with on average more than six 3rd-party apps installed on their personal mobile devices.” 10% had no password, PIN or other protection – “equivalent to taping your ATM passcode on your ATM card and leaving it on a restaurant table.” Another 15% felt they “weren’t responsible” to lock down devices, even though the same percentage acknowledged their passwords had been hacked or stolen. Millennials don’t do well with policies that are simply printed and distributed. DCG can help communication.  [INFORMATION WEEK – Apr 24, 14]
  •  MOTIVATING AND RETAINING MILLENNIAL EMPLOYEES IS LARGELY DEPENDENT ON COMPANY CULTURE. Research consistently shows that Gen Y (currently in their 20s and early 30s) “believe strongly in the value of meaningful work… if it’s not exciting, they look elsewhere.” A recent survey of 4,300 millennial finance professionals from 85 countries found 57% listing “challenging and interesting work among the most important aspects of a job offer.” Many business leaders fail to realize that serving this expectation is dependent on Company Culture – both (1) organizationally, in the context of work ethic and the degree to which teamwork is encouraged & rewarded: and (2) structurally, to the extent that compensation is formula driven versus subjective and demonstrating a reality-based pay range differential between executives & workers. Millennials are “under no illusions that being loyal to the Company is going to mean the Company being loyal” in return.  [JRNL OF ACCOUNTANCY – May 14]
  • CULTURE ALSO IMPACTS THE EFFECTIVENESS OF INTERN PROGRAMS. Many companies who effectively utilize Millennial internships fail to retain the good ones because the full-time experience “differs too greatly.” Primary reasons are: (1) Interns receive messages such as ‘our doors are always open’ while full-timers hear ‘know your place’; (2) Interns work for managers invested in their experience, while new hires “report to whomever has headcount” – irrespective of that supervisor/manager’s people skills”; (3) Interns are encouraged to meet new people while hires are generally discouraged (initially) from actively networking.  “This is why Millennials may love you as interns but leave you as employees… Intern programs are costly and must have a high return on investment to prove valuable. To succeed, and to create competitive advantages, companies must create a seamless transition and experience from intern to full-time hire.” DCG can help.   [INTERCHANGE-GROUP – Apr 30, 14]
  •  IN THE WORLD OF DUMB P.R. STUNTS, General Mills (owner of Betty Crocker, Cheerios, Haagen-Daze) leads the 2014 pack. Last month, they buried a paragraph in online ‘Terms of Use’ saying that by downloading a Coupon or entering a Contest online, the customer “waives any right to sue or be part of a class action regarding all GM products… So, ordering a Wheaties coupon meant you couldn’t sue if you lost a kidney from eating Yoplait Yogurt.” Not only was the waiver of dubious contractual bind – since “no way a consumer would read ten pages of legalese to get a coupon” and thus wouldn’t understand what they were agreeing to, but “social media furor was so great that three days later it was removed.”   [FOOD LAWYERS BULLETIN – Apr 30, 14]
  • ACCOUNTING RECORDS WHICH SUPPORT TAX FILINGS SHOULD GENERALLY BE KEPT FOUR YEARS.  However, the ‘Statute of Limitations’ extends to six years if reported income is potentially understated by 25% or more (as tax auditors may challenge), and is indefinite if returns are not filed or fraud is alleged. Additionally, records relating to securities transactions, retirement accounts and real estate transactions (including refinancing, improvements, insurance claims) should be kept until four years after reported, and for issues which affect multiple years via ‘carry-forwards’ (operating losses, casualties, etc) the hold period  is seven years after they have no further effect.   [SQUAR MILNER REPORT – Apr 25, 14]
  • THOUGHTS FOR THE WEEK:    “It’s not hard to make decisions when you know what your values are.” –Roy Disney                                      

              Only 10% of workers say they do their “best thinking” in the office; 39% say it’s done “at home.”

              “Each of us was given two qualities: Power, which leads us to meet our destiny, and Talent, which obliges us to share with others what is best in ourselves. We must know when to use the one and when the other.” – Paulo Coelho   

DUITCH CONSULTING GROUP – UTILIZING GLOBAL PERSPECTIVE TO PROVIDE OPTIMAL STRATEGIC, FINANCIAL, OPERATIONS AND MANAGEMENT PLANNING & POSITIONING