Is the Debt Worth the Degree?

Employment expert weighs in on how Skilled Workers fare Vs. College Grads

College Grad“We have this idea in our society that a college degree is the gateway to financial freedom and success, says Rob Wilson, employment trends expert and President of Employco USA. “But the statistics don’t necessarily bear that out. Most college grads end up moving home after graduation to live with their parents, and it takes several months or more for them to find a job. In many cases, that job won’t be in their field of interest, and these young people end up spending a good chunk of their paycheck paying off their hefty student loans.”

In contrast, Wilson says that skilled trade workers make $50,000 a year (similar to a new college graduate’s annual salary), and they have around $2,500 in student loan debt as opposed to $37,000.

Wilson says, “Getting a 2-year degree can be a very smart move for many Americans. Baby boomers are retiring in droves, and as they do so, they will be leaving many of their jobs in skilled trades like carpentry and electrical work. Companies will need trained workers to replace this staff, and those few that can fill these positions will be in high demand. Alternatively, a college graduate with a degree in communications will be competing with millions of other equally qualified and motivated young people with similar degrees.”

So does Wilson think a college degree is not worth the debt?

“It really depends on your goals,” says Wilson. “Some careers certainly will require a 4-year degree. However, the reality is that we need skilled workers in this country, and companies are willing to pay good money to get that. Some will even pay for your training…meaning you can actually get paid to learn invaluable job skills that will look good on your resume no matter what career you end up choosing.”

For more on this topic, please contact Rob Wilson at rwilson@thewilsoncompanies.com.

What Managers Can Learn from the Steve Harvey Memo Fiasco

Human resources expert explains where Harvey went wrong, and how managers should confront problematic open-door policies

Television host and comedian Steve Harvey has been lambasted in the media for his memo to employees, excerpts of which include “Do not approach me in the makeup chair,” “Do not open my dressing room door,” and “I want the ambushing to stop now.”

Rob Wilson, human resources expert and President of Employco USA, says, “Perhaps Harvey could have worded his memo a bit better, but he does raise a valid issue. An open-door policy is not applicable for every office environment, and for many workers, such as those with ADHD or other learning differences, constant, unplanned interruptions can really impede their ability to concentrate and get things done.”

Here, Wilson reveals some ideas for workers and managers who are struggling with this very same issue:

Encourage employees to proceed with caution. “Open door policies can work depending on the company’s culture, size, and if the executive’s time allows for it.  It helps to win employees’ trust, and it makes the office feel more like a team and less like a dictatorship.  However, when possible, it is more efficient to create a policy that encourages employees to bring issues, ideas and complaints to supervisors and lower-level managers before they head straight to the CEO. If a CEO is putting out small fires all day, they can’t tend to the real work of running the firm.”

Schedule regular, ongoing meetings. “If allowing for open door policy is too disruptive, management should schedule ongoing meetings with different types of employees to ask for feedback and suggestions for improvement.”

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Here’s How Trumpcare Is Going to Impact the Average American

Group insurance expert reveals what Americans can expect

President Trump’s American Healthcare Act is under ever-increasing scrutiny from politicians and pundits alike. However, misunderstandings and oversights have been rife when it comes to the way many Americans talk about the Republican healthcare bill, says Rob Wilson, group health insurance expert and President of Employco USA.

Here, Wilson identifies key part parts of ‘Trumpcare’ which he believes are important for Americans to become aware of:

  • Elimination of the employer and individual mandates: “It will no longer be a requirement for anyone (such as young, healthy people) to have for health insurance. And, the elimination of penalties means that they will not be penalized if they decide if they would rather spend their hard-earned money elsewhere.”
  • A 30% surcharge to premium cost for lapse of coverage over 60 days: “This will allow insurers to charge people who drop in and out of the market, which will help to keep costs fair and encourage people to keep their health insurance intact.”
  • Repeal tax on over-the-counter medicine: “This will be a nice boon for consumers.”
  • Repeal of tax increase on Health Savings Accounts and increase in maximum contribution for HSA accounts: “This will remove the excess penalty if Americans need to use their HSA for costs other than healthcare bills, and the increase in max contributions will also offer tax benefits for Americans, as these funds are 100 percent tax-deductible.”
  • Repeal of Medical Device Excise Tax: “A $20 billion tax cut, this will help to increase lower costs for manufacturers and breathe life back into states such as Indiana where medical device manufacturing is a multi-billion dollar industry.”
  • Repeal of increased Medicare tax: “Removing the 0.9% Medicare payroll tax on any money Americans earn above $250,000 will be a relief for many Americans.”
  • Repeal of tax on Prescription Medications: “This will amount to a $28 billion tax cut,” he says. “It will lessen the burden on Americans who purchase prescriptions each month, and it will allow drug companies to spend more money on research, production and development of medications.”
  • Repeal of Tanning Tax: “That 10 percent federal tanning tax is going away,” says Wilson.
  • Cadillac tax would not go in to effect until Dec 31, 2025: “The astronomical tax is now being delayed until 2025, which will lift a huge burden on consumers.”

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