Making a good impression with your boss must last far longer than the interview/hiring process. In order to have an impactful and positive relationship with him or her is to stand out at all stages of your employment. Impressing your boss goes well beyond bringing in coffee and donuts on Fridays and wearing snappy suits and loafers.
Dig a little deeper to exemplify the type of employee you are any why your boss made the right choice in bringing you onto the team in the first place. Don't worry, your co-workers won't accuse you of vying for the role of "teacher's pet." These 3 tactics and long-term workplace qualities and standards will make you an employee to look up to, even by the "big man" himself!
1. Be Proactive
Sitting back and waiting to be called on is no way to progress in your role or status. Taking the initiative whenever possible is a quality bosses will notice. Wallflowers may blend in just fine, but they'll never shine as brightly as those who take proactive measures to succeed.
As per Ask Men, "If you see a new project, go after it. If you see something that needs doing, do it. And that means taking risks. Start a new task that's valuable to the company. Let your boss know what you're working on. They may take the task away from you, but they won't forget your vision."
Additionally, if you see areas of business that can be improved upon, make it your mission to make a difference. As Hongkiat notes, "Come up with some potential solutions to solve (problems). Even if you have yet to appreciate the scenario as much as your boss does, the fact that you've showed the initiative to think through them will probably impress on him or her."
2. Be Money Mindful
Any successful business is in the business of making money. Overspending and working on a shoestring budget is not only stressful, but can lead the company into a sinkhole. Your boss will be delighted if you can work well on a lean budget and make the company more and more money with each passing quarter.
Taking note of where and how you can help save money will be a great gift to your employer. According to Ask Men, "Keep an eye peeled for ways the company can spend less, and share your ideas early and often. Found a cheaper vendor for one of your company's needs? Share it! The day may come when the company passes the savings on to you in the form of a larger paycheck."
If your savvy economic sensibilities can help the company's bottom line, be sure you'll be looked upon in high regard. This type of attention aimed towards protecting the company's assets will not be easily forgotten.
3. Keep Learning
Even people in the highest level roles of a business still have the capacity and need to continue to explore further information and education about their field. Let your boss know that you're eager to go to conferences, sit in on meetings that can help you grow, and may even seek a further degree to become more entrenched in your area of expertise.
As per Hongkiat, "When you first join an organization, chances are that your boss will only 'teach' you what you need to know in order to do your job properly. There are also things that can't be taught, such as unofficial or unwritten shortcuts that your boss and/or colleagues might know of when it comes to dealing with certain things or people. Your boss would probably prefer that you find out these shortcuts for yourself through the course of your work or interactions with colleagues. That's where your willingness to learn will help propel your career."
Read up on the latest industry news. Learn from other companies in your field who are successful. Take advice from those who are making a difference. When- and wherever you can absorb more knowledge, drink it in. When your boss sees your enthusiasm and genuine interest in moving the needle, you'll always be on their good side.
For more ways to impress starting day one, check out The Muse's advice for winning over your boss.
With individual motivation and cooperative teamwork, you'll impress your boss with your confidence and hard work. No kissing butt required!
When you take out a loan for a car, charge something to your credit card, or get a personal line of credit, there is going to be an interest rate that applies to your loan.
A lot of different factors go into what you will be charged, including your own personal credit score. But even those with flawless credit still see a minimum charge that they can't get around. That all goes back to the Federal Funds Rate.
One thing consumers rarely realize is that all of our banks are lending money to each other every night. Banks are legally required to maintain a certain percentage of their deposits in non-interest-bearing accounts at the Federal Reserve to ensure they have enough money to cover any withdrawals that may unexpectedly come up. However, deposits can fluctuate and it's very common for some banks to exceed the requirement on certain days while some fall short. In cases like this, banks actually lend each other money to ensure they meet the minimum balance. It's a bit hard to imagine these multibillion-dollar financial institutions needing to borrow money to tide them over for a bit, but it happens every single night at the Federal Reserve. It's also a nice deal for those with balances above the reserve balance requirement to earn a bit of money with cash that would normally just be sitting there.
The Federal Reserve
The exact interest rate the banks will charge each other is a matter of negotiation between them, but the Federal Open Market Committee (FOMC) (the arm of the Federal Reserve that sets monetary policy) meets eight times a year to set a target rate. They evaluate a multitude of economic indicators including unemployment, inflation, and consumer confidence to decide the best rate to keep the country in business. The weighted average of all interest rates across these interbank loans is the effective federal funds rate.
This rate has a huge impact on the economy overall as well as your personal finances. The federal funds rate is essentially the cheapest money available to a bank and that feeds into all of the other loans they make. Banks will add a slight upcharge to the rate set by the Fed to determine what is the lowest interest that they will announce for their most creditworthy customers, also known as the prime rate. If you have a variable interest rate loan (very common with credit cards and some student loans), it's likely that the interest rate you pay is a set percentage on top of that prime rate that your lender is paying. That's why in times of low interest rates (it was set at 0% during the Great Recession), a lot of borrowers should go for fixed interest rate loans that won't increase. However, if the federal funds rate was relatively high (it went up to 20% in the early 1980's), a variable interest rate loan may be a better decision as you would be charged less interest should the rate drop without the need to refinance.
The federal funds rate also has a major impact on your investment portfolio. The stock market reacts very strongly to any changes in interest rates from the Federal Reserve, as a lower rate makes it cheaper for companies to borrow and reinvest while a higher rate may restrict capital and slow short-term growth. If you have a significant portion of your investments in equities, a small change in the federal funds rate can have a large impact on your net worth.
Whether you're leaving a job involuntarily, departing for something new, or just want to prepare for the unknown, it is smart to understand all your options regarding your 401k.
Frugal gifting often gets a bad reputation. However, this shopping method does not make you cheap — it makes you practical. Frugal gifts often avoid waste and overspending and can be just as meaningful (if not more so) as any other present.
With the National Retail Federation predicting each consumer this holiday season to spend upwards of $1,000 on holiday gifts amidst an economic recession —this year might be the perfect time to reconsider your spending budget. We've formulated the ultimate list of frugal gift-giving ideas to get you started.