Information Lifecycle Management: Mastering Complexity

The keystone to efficient information and repositing direction lies with a simple principle: information has a lifecycle and it should only be stored as long as compulsory by stage business and regulatory requirements. Nevertheless, the traditional methods of giving medication do not suffice for the complex relationships among structured and unstructured.

New generations of solutions ar evolving to meet byplay leaders' inevitably piece reducing in operation(p) peril, meeting regulatory submission, and improving system handiness. Withal, like every quantum change with strategic and operating(a) , reality is not keeping pace with the expectations of individuals and organizations that demand a quick, yet simple, solution to a very complex and growing problem.

To further complicate matters, new terminology is being introduced, additional skill sets mandatory, products immature, and the financial impact of effectuation is empirically only just being understood with the first generation of products. This ambiguity has a electric potential to derail a robust framework that has the ability to deliver on historically unmet necessarily needed for our ever-expanding, informationdependent industries.

Continued from page 1. First, a current service line mustiness be conducted. This should articulate and quantify the existent technologies, procedures and policies already adopted by the company. The also moldiness classify available personnel skill sets, organizational maturity, and functional windows needed to satisfy the SLAs.

With the foundation in place, known issues, risks and current initiatives be classified and ranked by significance. Secondly, the future state or "to-be" model be created. Clear benefits driven by the occupation drivers and corporate agendas (i.e., alignment) be amalgamated to create a cohesive framework that meets the organizational goals and objectives. With the "to-be" model defined and approved, a fit-gap analysis tin can be done that articulates the problem areas, opportunities and architectonic strengths.

After creating a program of work, a high-level design of the product and services should be developed. This design volition highlight the estimated benefits, potential difference vendors, proposed execution scenarios and sequence of activities that testament result in a working set of pilots. With the selection of headstone vendors, buffer projects toilet be undertaken. These cowcatcher projects wish provide the confirmation for the benefits, risks and approach needed for further investment.

Once completed, the results bequeath be a "go/no-go" decision point for the organization, and additional commitment and investments for ILM realization. Adjustments also leave be made from the pilot burner project's outcome to the plan, resources and budgets. With the pilot light projects and customizations completed, a rollout plan for the tested environment be undertaken. Only segments mature in their lifecycle be considered.

Proper training and education be conducted. A refresh approach to integrate future segments be defined and intermingled into the PMO, methods, and architecture. By its very nature, ILM is not static. It is a layered and mixed series of product, processes and reposition automation that lavatory result in drastically improved information accessibility, usage and bottom-line results. Many companies today unwittingly practicing ILM--using inefficient, manual processes contained within vendor-specific platforms resulting in a high TCO. A viable solution for organizational profitability, cost containment and risk of infection mitigation is contained within the ILM architecture.

Over the next two to three years, the robustness of the products rapidly advance in support of the architecture allowing for significant improvements in warehousing innovation, productivity gains (due to automated rules and policies) and conformity disposal. While caveats to ILM exist, the job drivers for its integration and carrying out cannot be ignored. Organizations seeking to deploy these enterprise-based solutions consider that the potential drop currently outweighs a vendor's ability to make it a reality in the short term. Still, the enterprise identify the critical requirements and embrace the winder strategies spell the market is maturing.

Identifying and embracing the vital requirements and strategies take time and executive commitment, which is usually greater than the time needful for delivery.

The offerings deployed today significantly mature in 2004/2005 as they assimilated into common applications, databases, middleware, and memory . ILM is not just about computer memory , it is about proper alignment with line of work of necessity to effectively ensure the capture, categorization, integration and disposal of . The tonality to the information "hydra" lies with in effective, qualitative and quantitative hazard governance coupled with a clear understanding of the interrelationships between project efforts.

Without an active ILM approach aligned to the organizational culture, the measured value (real or perceived) of technology investments continue to be disappointing patch exposing the organization to increased litigation and scrutiny.

Fixed Versus Flexible Working Hours in Workforce Management

Flexible working hours have been found to lead to a happier workforce, and to far better customer service and share valuations. However, there is a fear that implementing flexible working hours is complicated and that it could lead to a flood of impossible demands from employees.

Before we look at flexible working hours in more detail, let us take a brief look at the standard working hours.

Working Hours for Employees

Working hours for employees have changed dramatically over the last two centuries. Back in the nineteenth century when industrialization started in Europe, workers were compelled to work even 16 hours a day. In twenty-first century France, however, the government had fixed working hours at 35 hours a week.

Most industrialized countries have regulated the workweek by stipulating the maximum number of working hours per week, minimum daily rest periods, annual holidays and sickness pay. The standard is around 40 working hours per workweek, typically Monday through Friday. Paid vacations range from three to five weeks a year.

Long working hours can lead to stress-related health problems, less time for busy parents to attend to child-rearing, and less leisure to enjoy consumer products and services. Henry Ford introduced low working hours so that his employees would have the leisure to buy and enjoy the cars he produced.

Flexible Working Hours and its Impact

One major problem with fixed working hours is that employees find it difficult to balance the demands of their personal lives and work lives. Flexible working hours can lead to better work/life balance and result in a happier workforce.

Flexible working hours can come in different forms such as:

Part-time working that enables an employee to be free during business hours to attend to personal matters. For employers, it could mean engaging employees during peak workload hours, and reducing overall payroll costs
Flexi-time working where employees work extra time when needed by employers and bank the extra hours/days off for arranging their personal commitments
Annualized hours is an arrangement where times worked and times off are balanced across the year as a whole. Extra hours are worked during peak business seasons and less during lean seasons. Employers can retain experienced employees instead of hiring inexperienced casual or contract staff
Customized flexible working hours during special events to enable employees watch, say, world cup matches and yet meet their work time requirements


Studies have indicated that flexible working hours produce tangible benefits to employers in the forms of:

Reduced absenteeism and employee turnover
Lower recruitment costs as they can retain their existing staff
Higher staff morale leading to better work performance, customer service and even company stock performance


A survey even revealed that employees preferred flexible working hours to substantial additional pay.

Implementing Flexible Working Hours

Employers must know when they have peak workloads, needing more employees. This is not too difficult to assess with today's technologies like EPOS and computerized systems that can record transaction times.

Once the requirements are identified, flexible rostering software can generate rosters to fit the workload. This software would then help to optimize the rosters to meet:

Work contract requirements
Sociability factors, and
Employee work preferences to the extent possible

Where employee preferences cannot be met in full, the software would show the employees why this happened. This creates greater trust in the employees that their needs are being genuinely attended to.

Conclusion

The standard practice so far has been fixed working hours arranged in different shifts. This can lead of difficulties in balancing employees' personal and work life demands. Flexible working hours help better work/life balance and lead to a happier workforce. A happier workforce results in less absenteeism, better customer service and higher stock performance.

Crisis Management

The Internet may have opened worlds for businesses and consumers, but it has also created a public relations nightmare for businesses. Forums, opinion Web sites, blogs, and anything that is publishable can smear a company's name in moments.

Remember, "Yours Is a Very Bad Hotel" presentation that described one customer's bad experience with a hotel chain? Hotels are run by humans. Humans make mistakes. It's how you handle the mistakes that can make the difference in customer service. Since the hotel's employees didn't try to help the customer overcome a bad situation, the customer lashed back and bloggers blogged it.

If the hotel is on top of its game, it would unleash its crisis management (also known as reputation management) team to salvage its reputation while it can. It's possible for a company to overcome bad PR and come out ahead as in the case of PG&E (California's Pacific Gas and Electric company).

Another strategy is to use Internet monitoring to monitor online articles regarding a company's activities to prepare for negative publicity. Some go further and monitor chat rooms, newsgroups, and online discussion forums.

It's like the story of the town gossip who spread false stories about its people. One day, he felt terrible and went to the chaplain [Rabbi, pastor, priest, or other &mdash take your pick] to ask for forgiveness. The chaplain said,"I will forgive you, but you must do something first."

"Take a feather pillow, cut it open, and scatter the feathers to the winds." The man thought this was a strange request, but it was a simple enough task, and he did it gladly. When he returned to tell the chaplain that he had done it, the chaplain said, "Now, go and gather the feathers. Because you can no more make amends for the damage your words have done than you can recollect the feathers."

The same can happen to a company without a crisis management plan in place. It's possible to survive the crisis and thrive as PG&E did. Don't expect Worldcom to pull out of its Enron-like mess. Fraud is not excusable. And Martha Stewart? She has hired a public relations strategist firm in an effort to do damage control. It'll be worth watching to see what happens in her case and how the PR firm attempts to save her reputation. Did you know there is a recall on one of her products? Adds fuel to the fire, doesn't it?

A Guide To Performance Management

Nowadays, a great significance is being given to Performance Management, as companies incorporate them in their effective management strategies. However, a lot of people find this process a complicated one, mostly because of the many options that it offers – on the organization, a specific department/branch, a product or service, and on employees, among others.

In order to minimize this confusion, the items below will give you a general idea of what Performance Management is all about as well as the activities that are involved in this process.

What is Performance Management?

Performance management is a process that provides both the manager and the employee (the person being supervised) the chance to determine the shared goals that relates to the overall goals of the company by looking into employee performance.

Why is it important?

Performance Management establishes an outline for employees and their performance managers to assess and to come to an agreement on certain concerns and aims that are in accordance with the overall structure of the company. This enables both parties to have clear objectives that would help them in their work and in their professional growth.

Who conducts Performance Management?

Performance Management is carried out by those who oversee the performance of other people – work/team leaders, supervisors, managers, directors, or department chairs.

What are the processes involved?

Below are the phases of the Performance Management process:

1. Planning

This phase of Performance Management process includes establishing job descriptions and identifying the employee’s essential functions as well as defining the strategic plan/s of the department or the company as a whole.

Job Description

A job description is used to advertise a vacant position, which typically specifies the following:

- The specific functions, tasks, and responsibilities of the position
- The amount of time needed to act upon each function
- The qualifications needed (skills, knowledge and abilities) to perform the job
- The physical and mental requirements of the position
- Salary range for the position
- To whom the position reports

Job descriptions should be disclosed to the employee as soon as he or she is hired. Note, however, that job descriptions are listed using words that make it difficult to measure the employee’s performance. They are in contrast with competencies, which list the skills needed in performing such tasks and are described using terms that can be measured.

Strategic Plan

In effect, a strategic plan tells you three things:

- Where the company is heading in the coming year/s.
- How the company is going to get there.
- How the company will know if it is already there or not.

Included in a strategic plan are the following:

Mission statement – the primary reason why your department (or company) exists.

Goals – associated with the mission statement, they determine the results that will advance said statement/s.

Strategic initiatives – specifies definite steps that must be taken to accomplish each goal. It is a dynamic process, usually examined during periods such as one or two years.

2. Developing

This phase of Performance Management process includes developing performance standards, which offers a scale that describes how a specific job should be performed in order to meet (or exceed) expectations. They are explained to newly hired employees and are later used to evaluate work performance.

Performance standards are generally outlined with the help of the employees who actually perform the tasks or functions. There are a number of advantages with this approach:

- The standards will be suitable to the requirements of the job
- The standards will be applicable to actual work conditions
- The standards will be easily understood by the employee (and performance manager as well)
- The standards will be acknowledged (and received) by the employee and the performance manager

Standards of performance are usually in the form of ratings (1 to 5, A to E) that are used by performance managers to rate the employee’s actual level of performance.

3. Monitoring

This phase of the Performance Management process includes monitoring employee’s work performances and giving feedback about them.

As the basis of feedback, observations should be verifiable: they should involve noticeable and work-related facts, events, behaviors, actions, statements, and results. Feedback of this type is called behavioral feedback, and they help employees improve and/or sustain good performance by precisely identifying the areas that the employee needs to improve without judging his or her character or motives.

4. Rating

This phase includes conducting performance evaluations. This is the critical aspect of the Performance Management process, especially because it is important for performance managers to arrive at an unbiased assessment.

A performance appraisal form has the following features:

- Employee information
- Performance standards
- Rating scale
- Signatures
- Employee performance development recommendations
- Employee comments
- Employee’s Self-appraisal

Why conduct performance appraisals? It provides an opportunity to improve performance in the future not only for employees, but for managers as well. Performance appraisals enable managers to acquire information from employees that will help them make employee's jobs more productive.

5. Development Planning

This phase of the Performance Management process includes establishing plans for improved employee performance and development goals. This advances the overall goal of the company and at the same time increases the quality of work by employees by:

- Encouraging constant learning and professional growth.
- Helping employees maintain the level of performance that meets (and exceeds) expectations.
- Improving job - or career-related skills and experience.

In closing, Performance Management is a process that, when executed fairly and effectively, can improve the quality of the company’s workforce, raise standards, increase job satisfaction, and develop professionalism and expertise that would benefit not only the employees but the entire organization as well.

Achieving Cash Flow Management Through Accounts Receivable Factoring

Accounts receivable factoring is another mode of receivables management and working capital funding to eventually increase the cash flow. Accounts receivable factoring involves buying and selling of accounts receivables in order to obtain immediate cash or working capital.

Accounts receivable factoring helps in acquiring cash for the product or the services rendered. It results in immediate cash inflow without creating any debt or transferring the business ownership. Accounts receivables are the most values assets for any company. It is one of the mode for increasing sales and expanding business. The payment is done of the 80% of the invoice value. The 20% of the value is kept as reserved and is paid after deducting the fee once the amount on the invoice is due.

This practice if accounts receivable factoring is most suitable for small and medium business owners. Due to accounts receivable factoring small and medium business owners are able to generate cash and avoid the debt trap. It also helps in representing string financial status and avoids interest on any loans if otherwise taken.

Accounts receivable factoring also results in increased working capital as receivables are conditional on customer's creditworthiness and not the business owners. It helps to avoid loan repayment, transferring business equity, engaging the assets, and also avoid yearly loan review process. For a small business owner accounts receivable factoring represents gaining working capital without overtaking any debt or loan. It is also a mode to increase sales without any repayment tensions for any loans etc. Thus business is able to meet demands and the circle keeps on auto-rotating as accounts receivable factoring increases sales and increased sales asks for more money to complete more orders.

Accounts receivable factoring also provides relief from non-paying clients or slow paying clients. It generates more sales due to increased orders. It also offers flexible funding program to help heighten the sales graph and take vendor discounts due to availability of cash.

This practice of accounts receivable factoring generates cash to fund the payrolls and taxes due. The funds thus generated also help to increase the inventory or buy new equipments, tools, etc to flourish the business.

The availability of cash helps small business owners to negotiate for discounts from their vendors and suppliers. It also helps to reduce book keeping, depositing checks, monitoring collection process, and preparing reports for collections. Brokers or agencies also provide their services for accounts receivable factoring. They help the business owners to manage their collections, payments, generating more cash and managing their cash inflow process.