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FROM THE PRESiDENT
Our core business purpose at HRi is to
help small to medium-sized organizations attract and retain the workforce
they need. This task is increasingly more important in business today, as
the number of available skilled workers declines. It is more difficult for
small to mid-sized companies to compete with larger organizations for the
qualified workers they seek. In a market such as this, the reasons to use
HRi’s
services are more apparent.
The July 2005 Employment Situation, a
publication of The Bureau of Labor Statistics, outlines current trends and
supports the claim that the number of available skilled workers continues
to decline. Key facts outlined in the article include:
- In July, non-Farm payroll employment rose by 207,000.
- The unemployment rate remained stable at 5%.
- July saw continued growth in several industries including
professional and technical services (23,000), healthcare (29,000),
retail trade (50,000) and financial activities (21,000).
- Manufacturing employment remained unchanged, but has declined
over the year.
- Average hourly earnings of private production or
non-supervisory workers rose by 6 cents in July to $16.13 (seasonally
adjusted), following a 3-cent increase in June.
- Over the year, average hourly and weekly earnings have grown
by 2.7 percent.
In summary, industries seeking highly
skilled workers continue to add jobs, while earnings increase.
Additionally, jobs have continually declined througout the year for
industries with traditionally less-skilled employees. Consequently, the
pool of available workers is experiencing a shift from highly-skilled to
less-skilled individuals.
Click here to view
the entire BLS article
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Greetings!
Welcome
to the August 2005 edition of DiRECTIONS. In this issue, Tim discusses
current employment trends and how they reinforce the benefits of using
HRi. Next, we introduce Danielle King, Account Reconciliation Specialist.
With
back-to-school just around the corner, many of you are feeling the pains
of hefty college tuition. In the next article, we discuss the 529 college
savings plan, available to all HRi employees.
Finally,
you can now view the results from last month's vacation survey and also
take our employment survey.
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Meet HRi
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 HRi would like
to welcome Danielle King to our staff. Danielle has previous experience
working for the Lt. Governor of Maryland,
and she is currently pursuing her degree in accounting. Please join us
in welcoming Danielle!
Favorite Quotes:
“Vote for Pedro.” –
Napoleon Dynamite – Just Kidding
"We make a living by what we get. We make a life by what we
give." - Winston Churchill
In my spare time:
In my spare time I like to read, watch movies and hang out with my
husband and family. I also like to travel and exercise.
If I could change one thing in my
life: Not a thing!
Favorite Restaurant:
My favorite restaurant is anywhere that serves chicken!
My favorite hobby:
Shopping!!!
Dream vacation:
My dream vacation would be to visit the “The Land Down Under”
– the continent of Australia.
Advice to live by:
Treat others like you want to be treated. No dream is too big, whatever
you put your mind to, you can accomplish it.
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College
Savings Plan
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Paying for college is harder than
ever. In recent years, the cost of college has increased almost twice
as fast as the inflation rate.
Consider the 529 Savings Plan:
- Earnings are free from federal taxes and,
through 2010, withdrawals are free from federal taxes if used for
qualified higher education expenses.
- The plan accepts contributions of up to
$11,000 a year ($22,000 for married couples) without gift-tax
consequences. Or, under a special election, up to $55,000
($110,000 for married couples) can be contributed at one time by
accelerating five years’ worth of investments. However, no other
contributions can be made for the next four years.
- There are no income limits. Unlike a
Coverdell Education Savings Account, people of all income levels
can contribute to a 529 account.
- The beneficiary can be anyone — a child, a grandchild, a niece or nephew, a friend or
even the contributor. The beneficiary may also be changed without
tax consequences to another member of the beneficiary’s family.
- The plan may be used for most higher
education including college, graduate and post-graduate study and
technical training. Tuition, room and board, books and certain
other fees and expenses are all qualified higher education
expenses at an eligible educational institution.
If you would like an application or
additional information, please contact Cory Gimperling of Lincoln
Financial at (410) 453-9026 or at cgimperling@LNC.com.
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