How Retirement Attitudes Of Baby-Boomers And Gen-Xers Differ
Posted: February 14, 2012 at 11:09 pm
The United States Department of Labor (DOL) defines baby boomers as those born from 1946 to 1964, and generation-Xers as those born 1965-1979. As is expected from individuals who are close in age, there is similarity in retirement attitudes among these two generations. However, there are also differences, some of which have led to different levels of retirement readiness and retirement savings.
In order to make a reasonable comparison, it is sometimes necessary to divide the baby-boomer cohorts into two groups, which has been done when available data allows.
Retirement Savings Attitude and Results
In its 2011 Retirement Confidence Survey (RCS), the Employee Benefits Research Institute (EBRI) compared the attitudes towards retirement savings and amounts actually saved by age. Some of its findings are included in the following table.
Early Boomers
1946 to 1955
Late Boomers
1956 to 1964
Gen-X
1965 to 1979
Percentage of workers saying they've saved for retirement 76 69 70
Percentage of workers who've tried to calculate
how much money they'll need for retirement
53 47 39 Reported total savings and investments of $250,000 or more 19 15 9 Reported total savings and investments of $100,000 - $249,999 22 12 15 Reported total savings and investments of $99,999 or less 60 72 76
Source: 2011 Retirement Confidence Survey - 2011 Results http://www.ebri.org/surveys/rcs/2011
The fact that early boomers have the largest percentage of individuals with more than $250,000 saved is no surprise, as older individuals are more likely to have larger amounts saved because they have worked longer and have had more time to accumulate those savings. Notwithstanding, it begs the question of whether this is enough to meet their retirement income needs.
Boomers Have Lower Retirement-Readiness Confidence
While a large percentage of respondents say they have saved for retirement, the level of confidence that this savings is sufficient to meet their retirement income needs is low and is critically so for boomers. According to a report from the Insured Retirement Institute (IRI), 63% of baby boomers lack full confidence that they will have enough money to cover their retirement needs, whereas only 33% of generation-Xers fall into that category.
This concern is not unfounded considering that individuals age 55 may need up to $550,000 for men and $654,000 for women to cover health insurance premiums and out-of-pocket expenses in retirement when they reach age 65 in 2018.
Generation X More Willing to Take Investment Risk
Compared to baby boomers, generation-Xers are more likely to take above-average risk when investing their retirement savings. Baby boomers are more likely to choose average risk in return for average gain with a large percentage unwilling to take any risk at all. Since the amount of return on investments is often determined by the amount of risk the investor takes with his or her assets, this approach will ultimately affect how much the members of each group invest based on such levels of risk tolerance.
Boomers Withdraw More and Add Less
According to the IRI, the economy significantly affects people's retirement-saving plans. With widespread layoffs and dim job prospects, about 15% of generation-Xers have had to dip into their retirement savings to cover everyday living expenses and 23% have stopped contributing to retirement accounts. Along the same vein, 20% of baby boomers have made early withdrawals from their retirement accounts and 32% have stopped contributing.
The Bottom Line
It is expected that individuals who are closer to retirement will have a more realistic view of retirement readiness. As such, it should not be surprising to find that more baby boomers are concerned about financial security during retirement than generation-Xers. Nonetheless, one's retirement readiness is often determined by one's attitude towards retirement and the actions that one takes towards saving for retirement.
Regardless of age, individuals can get themselves out of this statistical rut by improving their attitudes and taking more positive actions towards saving and planning for retirement when possible.
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How Retirement Attitudes Of Baby-Boomers And Gen-Xers Differ
Whitney Houston's Musical Director Rickey Minor Looks Back On Singer's 'Star Spangled Banner' Performance
Posted: at 11:08 pm
Whitney Houston's career was filled with standout performances, but for Rickey Minor - who worked with the late singer as her musical director over the span of her career - the singer's performance of "The Star Spangled Banner" at Super Bowl XXV in 1991 rises to the top.
"Every time, never fails, chills, the hair raises up on my arm," Rickey told Billy Bush and Kit Hoover when asked about the iconic performance on Tuesday's Access Hollywood Live. "I cannot hear it for three years, and if I hear it somewhere, it's immediate."
PLAY IT NOW: Did Whitney Houston Lip-Synch The National Anthem At The 1991 Super Bowl?
Rickey, who did all the musical arrangement for the song, said Whitney nailed her rendition with very little preparation.
"That was one take," he said, watching a clip of her performance. "It's hard to top that emotion and performance... It really is about a personal best."
VIEW THE PHOTOS: A Look Back: Whitney Houston — Her Life In Pictures
Rickey - who is now the musical director and band leader of "The Tonight Show with Jay Leno" - told Billy and Kit that her iconic performance also stirred up some negative press initially.
"There was controversy about Whitney doing the national anthem and lip synching. Was she lip synching? [There was] a lot of backlash right away," he recalled.
According to the Associated Press, the performance seen by people at home was a combination of a Whitney's pre-recorded rendition of the song - which she did days earlier in a studio - mixed with her live vocals. Fans attending the game heard the taped version of the song.
VIEW THE PHOTOS: Whitney Houston’s Final Public Appearance — February 9, 2012
Whitney's longtime collaborator was quick to come up with a plan to squash the talk how much of the song was actually performed live and just how well she could perform the challenging song.
"We made the decision, I told her, 'What we need to do, I said, we have this show on HBO, 'Welcome Home Heroes,' Just do it again, first verse a capella... it shut [the rumors] down, it just shut down all the talk," he explained. "The thing that people don't understand about television, especially singing the national anthem in a big stadium, there's no way to rehearse, the sound of the crowd coming at you... it's rowdy, it's loud, the fly over [from] the jets."
VIEW THE PHOTOS: A Look Back: Whitney Houston & Bobby Brown
Copyright 2012 by NBC Universal, Inc. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
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Whitney Houston's Musical Director Rickey Minor Looks Back On Singer's 'Star Spangled Banner' Performance
Cupid sings songs for your sweet
Posted: at 11:08 pm
PHOTO: Cupid and the Prius of Passion
Ali Meyer Reporting KFOR-TV
February 14, 2012
OKLAHOMA CITY -- Many Oklahomans found special chocolates on their desk at work or flowers on the kitchen counter. But a lucky few scored a personal performance from the metro's only working cupid.
Jacob Shuart will spend eight hours this Valentine's Day singing to strangers.
Dressed up in red silk boxer shorts, white tights and slip-on shoes, Shuart is canvasing the metro delivering vocal Valentines to unsuspecting lovers.
Shuart says, "This is my sixth year to do this. I sing to people that hire me. I sing to their boyfriends or girlfriends or wives or husbands. All the money goes to charity. It's one day a year that I can do something for someone else."
The Tax Department at Sonic Headquarters in downtown Oklahoma City got a special performance Tuesday morning.
Jennifer Adair's husband paid for a $20 song.
The money goes to a charity which buys goats for needy families in the Philippines.
If you'd like to hire Jacob Shuart to sing to your sweet, you can email him at jacob.shuart@gmail.com.
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Cupid sings songs for your sweet
Using Creativity and Innovation in a Changing World – Video
Posted: at 11:08 pm
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Using Creativity and Innovation in a Changing World - Video
Renowned Author & Motivational Speaker Eric Thomas Releases Digital Version of Autobiography "The Secret To Success"
Posted: at 11:08 pm
NEW YORK, Feb. 14, 2012 /PRNewswire/ -- I.M.G. -- With over 10,000 copies sold since its hardcopy release in September 2011, renowned author and speaker ERIC THOMAS has digitally released his autobiography "The Secret To Success." The E-Book is available online at Barnes & Noble, iTunes and Amazon.
In "The Secret To Success," Eric shares his compelling story of how he overcame being a homeless high school dropout to becoming one of the most sought after motivational speakers in the country. He speaks not only about his struggles and successes but provides invaluable advice on how anyone can change their life and reach their full potential.
Eric will also be returning as a featured speaker at the 2012 P.CON Conference in Cairo, Egypt on February 17. The convention is geared toward personal empowerment and development and will be attended by thousands from around the globe. Please visit http://www.thevision.me for more details.
In addition to speaking at numerous universities and conferences around the world, Eric's mission to inspire and motivate the masses has also led him into the realm of sports and entertainment. He was recently commissioned to provide voice-over work for Nike's Jordan Brand and to execute consulting initiatives for the NFL Players Association. His YouTube channel has over 3 million views with 20,000 people visiting daily to be inspired by his videos and weekly series entitled, "Thank God It's Monday."
Eric is also Chairman of the International Urban Education Consultants, a nonprofit organization that focuses on developing programs for troubled youth. He also serves as a consultant at Michigan State University where he developed The Advantage Program, an undergraduate retention program targeting academically high-risk students of color. He obtained his Masters degree in 2005 and is currently pursuing his PhD in Education Administration at Michigan State University and serves as Senior Pastor of A Place of Change Ministries, Lansing Michigan.
Watch Eric's latest episode of "Thank God It's Monday" here: http://www.youtube.com/etthehiphoppreacher
http://www.etthehiphoppreacher.com / http://twitter.com/ericthomasbtc / http://www.facebook.com/thehiphoppreacher
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Renowned Author & Motivational Speaker Eric Thomas Releases Digital Version of Autobiography "The Secret To Success"
Chiropractic Center Announces Success Treating Wilson Fibromyalgia Patients
Posted: at 11:08 pm
WILSON, NC--(Marketwire -02/14/12)- Kurtz Chiropractic Center announced that the practice has had success treating Wilson fibromyalgia patients. The practice uses a combination of chiropractic care, laser therapy, massage therapy and lifestyle counseling to provide long-lasting pain relief. According to the practice, some patients now no longer need to take medication to manage their pain. Kurtz Chiropractic serves patients in Wilson, Elm City, Bailey, Middlesex, Kenly, Lucama, Rocky Mount, Pinetops, Black Creek and Stantonsburg. The practice also treats personal injury and auto accident injury patients.
Chiropractor Dr. Colin Kurtz announced that his practice provides treatment for Wilson fibromyalgia patients. The practice provides natural pain management through a combination of chiropractic adjustments, laser therapy, massage therapy and lifestyle counseling that focuses on nutrition and exercise.
"Many of our patients come to us feeling frustrated and overwhelmed," said Dr. Kurtz. "Either their medical doctors don't believe their symptoms are real, or they've tried a variety of different medications with no success. We're here to say there is hope! We've had tremendous success using natural pain management to treat the underlying causes for fibromyalgia pain."
Fibromyalgia is a debilitating health condition characterized by chronic pain in the upper, lower, right and left quadrants of the body, typically affecting patients at tender points. Patients suffer from widespread tenderness, including lower back pain, neck pain, headaches and joint stiffness. Patients may also experience muscle spasms, difficulty sleeping, fatigue, and prolonged stress that can affect the body's metabolism.
"Patients with this condition respond remarkably well to a combination of therapies, including spinal adjustments and laser therapy," said Dr. Kurtz. "When the body is out of alignment, the nerves are unable to send and receive messages, leading to internal confusion that is manifest in chronic pain. Adjustments restore balance to the musculoskeletal system by realigning out-of-place vertebrae that may be inhibiting the healing process."
The practice also uses laser therapy to provide relief for sore muscles. During laser therapy, a laser penetrates deep into the affected muscle tissue, increasing circulation that helps stimulate healing and naturally relieves pain. Laser therapy can also help patients recover a full range of flexibility and motion by stimulating and loosening stiff, sore or tense muscles.
The chiropractor also recommends massage therapy for his patients. According to Dr. Kurtz, massage treatments provide immediate relief for lower back pain, soreness at tender points and other pain.
"The act of massage soft muscle tissue stimulates the flow of oxygenated blood," said Dr. Kurtz. "Like laser therapy, this treatment helps promote internal healing while relieving pent-up stiffness in the muscles."
The practice also offers nutrition, exercise and lifestyle counseling to patients. "As a chiropractor, my goal with every patient is to ease pain and enhance well-being, and a combination of treatments including lifestyle counseling can truly make a difference and reducing everything from low back pain to inflammation," said Dr. Kurtz. "We also recognize that what works for one patient does not necessarily work for another, which is why we provide individualized treatment programs. We take the time to get to know each patient and his or her wellness needs in order to create a personalized program."
Prospective patients can learn more by visiting the practice's website, http://www.kurtzchiro.net.
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Chiropractic Center Announces Success Treating Wilson Fibromyalgia Patients
Success In Seven Short Steps
Posted: at 11:08 pm
People who succeed in their jobs and in life are typically blessed with a special blend of four qualities: efficacy (self-confidence), resilience, hope and optimism. This mental confection, which scientists call psychological capital, reflects our capacity to overcome obstacles and push ourselves to pursue our ambitions. Not surprisingly, having lots of it is linked to both personal and professional fulfillment.
Although individuals vary in how much of this motivational firepower they possess, the amount is not fixed. You can boost your psychological capital and the key is changing your habits. Simply deciding to improve your outlook won t work. Instead, people need to cultivate a positive mindset through rituals and goals, say University of Nebraska management scholars Fred Luthans and Peter Harms. Here s how:
5406459295_9a5de0284c
Courtesy of redcargurl via Flickr.
1. Write a gratitude letter. Consider the people and things you are most grateful for and write them down. If you wish, you can write a letter to a person who means a lot to you. The recipient is likely to be touched. But if addressing an individual is uncomfortable or inappropriate, pen a note to yourself about all the things that are going well or that you feel fortunate to have. Set aside a time each day to do this. For instance, write one journal entry each night just before bed listing the good things that happened to you and what you are grateful for. Too much of the time, we focus on our fears and problems, because those relate to situations we need to avoid or solve to survive. But if you stop to count your blessings, you will realize how lucky you are.
3061759623_c152a79d77
Courtesy of insouciance via Flickr.
2. Seek out the good things in life. Make an effort to find situations that make you feel happy and proud. Spend time with those who love and support you. If you know people who make you feel miserable, don t interact with them. Although criticism can be a good thing, Harms says, unrelenting criticism rarely is.
3. Don t forget to relax. Exercise or meditate on a daily basis, even if you only have a short time to do so. Fifteen minutes per day to clear your head and relax has been shown to be associated with both happiness and physical wellbeing. Getting enough sleep helps as well, Luthans says.
4. Put problems in perspective. Think about the true scope of your troubles. Not everything s the end of the world, Harms reminds me. In fact, he adds, most of us worry about relatively minor hassles and concerns on a daily basis. You worries will seem less significant if you compare them to those of people in the throes of divorce, who have lost their jobs or who have been diagnosed with a serious illness. Harms gets his perspective from soldiers he sees regularly for one of his projects. These are people who are putting their lives on hold to go to a place where people are trying to kill them, he reports.
5. Set achievable goals. Make sure your aims are meaningful to you so that you gain satisfaction from completing them. Make them challenging, but also realistic and specific enough that you can act on them. If you are too ambitious, you will set yourself up for failure. Then keep a record of your progress so that you can look back and see how far you have come. Seeing that improvement is possible will motivate you to keep moving forward.
3898523396_ccf83895de
Rubber bands on your arm can remind you to be nice to others. Courtesy of fekaylius via Flickr.
6. Do nice things for others. One way to get in the habit of doing nice things for others, suggests Luthans, is to put three rubber bands around one of your wrists and transfer one band to the other wrist each time you do something kind for another person. The bands can serve as reminders to finish your three tasks before the day ends.
7. Spend money on experiences, not objects. Better yet, spend money on other people. Individuals who are given cash and told to spend it on others report higher levels of wellbeing than those who spend it on themselves, Luthans says.
Follow Scientific American on Twitter @SciAm and @SciamBlogs. Visit ScientificAmerican.com for the latest in science, health and technology news.
© 2012 ScientificAmerican.com. All rights reserved.
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Success In Seven Short Steps
Pushing Personal Driving Performance to the Limits With AMG Driving Academy
Posted: at 11:07 pm
MONTVALE, N.J., Feb. 14, 2012 /PRNewswire/ -- Driving enthusiasts and AMG fans get a chance to enhance their driving abilities and push the most exclusive and highest performance Mercedes-Benz luxury cars to the limit at the AMG Driving Academy. For 2012, the AMG Driving Academy has expanded to five tracks, beginning at Palm Beach International Raceway in April.
Originally founded by the Mercedes-Benz high performance subsidiary AMG in Affalterbach, Germany in 2007, the 2012 AMG Driving Academy offers an opportunity to get behind the wheel of several AMG models including the E63 AMG, SL63 AMG, C63 AMG Coupe, SLK55 AMG and the SLS AMG. The program offers Basic, Advanced, and Pro levels of training. Under the guidance of top professional instructors, driving enthusiasts experience the excitement of motorsports and the track capabilities of Mercedes-AMG vehicles.
The program features custom-designed exercises that showcase the dynamic driving capabilities of Mercedes-AMG models across five premier tracks:
Palm Beach International Raceway (Jupiter, FL) - April 12-17 A favored testing venue for championship teams offering both high speeds and twisting corners, Palm Beach International Raceway is a track that will constantly challenge even the most experienced drivers. Lime Rock Park (Lime Rock, CT) – May 8-17 Few tracks are as well known and loved. This classic 1.53-mile, 7-turn course, nestled in the Berkshire Mountains of northwest Connecticut continues to excite some of the world's best drivers since 1957. Texas Motor Speedway (Fort Worth, TX) – September 6-9 The infield road course has hosted some of the most exotic machinery in the world, providing drivers a chance to explore the limits of the vehicle...and themselves. Laguna Seca Raceway (Monterey, CA) – September 23-27 & November 8-12 Located in one of North America's best destination locations -- the Monterey Peninsula, Laguna Seca features tremendous elevation changes, the famous Corkscrew complex and 2.24 sinewy miles. Auto Club Speedway (Fonatana, CA) – October 23-30 The fastest track on the west coast, Auto Club Speedway offers a challenge to drivers of all levels.
The AMG Driving Academy offers three levels:
Basic Training ($1,595): A one day program designed to teach the fundamentals of performance driving dynamics and car control maneuvers using customized exercises that emphasize the power and handling capabilities of AMG vehicles. Drivers will also test their skills on the track at high speeds and during performance course competition. PBIR – April 12-15 Lime Rock – May 8, 11-12 & 14 Texas – September 6-9 Laguna Seca – September 23-24 & Nov. 8-10 Auto Club Speedway – October 23-28 Advanced Training ($2,995): A two-day program that provides a deep level of technical driver training both on and off the track. The program picks up where Basic leaves off, offering more track driving to extract a driver's maximum potential in a performance driving setting. PBIR – April 16-17 Lime Rock – May 9-10 Auto Club Speedway – October 29-30 Laguna Seca – Nov. 11-12 Pro Training ($3,695): The pinnacle of the AMG Driving Academy experience in the U.S. Comprised of three days of intensely focused instruction and technical skills reserved for the highest level of driving, Pro Training allows for maximum speed, challenges and thrills. Lime Rock – May 15-17 Laguna Seca – September 25-27
Additional information and registration for the AMG Driving Academy is available at http://www.AMGacademy.com or by phone at 1-877-646-6762.
About Mercedes-AMG
Mercedes-AMG is the high-performance subsidiary of the Mercedes-Benz Car Group and is headquartered in Affalterbach, Germany. AMG engineers lend the benefit of more than 40 years racing experience to the development of new Mercedes-AMG vehicles. Transmissions, brakes, aerodynamics, exhaust systems and, most importantly, the hand-crafted engine built and signed by an AMG Master Technician reflects AMG's holistic approach to performance.
By blending AMG genes with Mercedes DNA, AMG has delivered thrilling performance and exclusive refinement to discerning customers since the brand's introduction to the U.S. in 1995. While all Mercedes-Benz authorized dealers offer AMG products, 28 dealerships across the U.S. have attained 'AMG Performance Center' status where more personalized expert service for these high-performance vehicles is offered. http://www.mercedes-amg.com
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Pushing Personal Driving Performance to the Limits With AMG Driving Academy
Schindler To Install Intuitive PORT Elevator Technology at Luxury Chicago Apartment Tower
Posted: at 11:07 pm
MORRISTOWN, N.J.--(BUSINESS WIRE)--
Schindler Elevator Corporation has been awarded a multi-million dollar contract to install its PORT (Personal Occupant Requirement Terminal) elevator technology by real estate development company Related Midwest in Partnership with AFL-CIO Building Investment Trust at 516 Lakeshore Drive in Chicago. A 45-story, 500-unit luxury rental apartment tower, it is the first building in Chicago to benefit from Schindler’s award-winning destination dispatch elevator technology.
Best understood as the central nervous system of a building, the PORT Technology functions as a two-way communication interface between the occupants and the building’s environment. The system’s visible aspect is a sleek, futuristic device positioned at access points and elevators around the building. Behind the stylish touch screen is a powerful patented access control software system, capable not only of calculating the optimum route to any destination within the building, but also of “learning” how its occupants typically move around. With this information, PORT Technology primes the elevators to direct and transport people quickly and safely to their individual destinations. The system uses card readers or other media using RFID technology to identify passengers and automatically call elevators to take them most efficiently to their desired floors, customizing and personalizing each trip to the specific needs of the individuals.
“The PORT Technology recognizes occupants and responds to their individual needs,” says Michael Landis, vice president, Marketing for Schindler. “What makes the system special is the ease with which the building’s manager can design applications to accommodate a wide range of needs in real time. Whether it’s helping to meet new energy- efficiency goals, updating security, scheduling maintenance or adapting to people with special needs, unprecedented levels of customization can be achieved.”
“Related is excited to be the first to bring this innovative technology to Chicago. We continue to pride ourselves on producing only the most cutting edge Real Estate product,” says Curt Bailey, president of Related Midwest. “The convenience and luxury this new system will offer our residents is fundamental to the high standard of living we provide.”
PORT Technology Energy-Saving Features
Each PORT terminal’s proximity sensor tells it when to be active and at all other times puts it into low energy consumption mode. When the terminal screen illuminates, an ambient light sensor determines only the brightness level required, again optimizing energy usage. The PORT Technology helps ensure elevator trips are as efficient as possible. This produces a very resourceful use of energy even during heavy traffic. During light traffic the PORT Energy Control Option places nonessential elevators into an energy-conserving standby mode.
Energy Efficient Elevators
Schindler 7000 custom high-rise elevators will transport apartment residents to their destinations. Using the latest technology in elevator design and highly efficient permanent magnet motors, Schindler 7000 elevators feature Power Factor 1 drives that reduce energy consumption by up to 35% compared to standard drives and regenerate energy back into the building’s electrical system. The recovered energy can be used to power other building demands such as lighting, air conditioning or other equipment. The Power Factor 1 drive generates less heat, providing additional savings through reduced cooling requirements for the machine room.
Scheduled to open for residents in May 2013, the building will be an impressive addition to the Chicago skyline offering signature views of Lake Michigan and access to unrivaled amenities. Designed by architects from Solomon Cordwell Buenz (SCB) and constructed by General Contractor Lend Lease, it will include 500 residential rental apartments, a parking garage, and retail space. The development will incorporate sustainable features to increase energy efficiency and improve indoor air quality, and is anticipating LEED Silver certification.
About Related Companies
Related Companies is the most prominent privately-owned real estate firm in the United States. Formed over 39 years ago, Related is a fully-integrated, highly diversified industry leader with experience in virtually every aspect of development, acquisitions, management, finance, marketing and sales. Headquartered in New York City, Related has offices and major developments in Boston, Chicago, Los Angeles, Las Vegas, San Francisco and South Florida and boasts a team of approximately 2,000 professionals. For more information on Related Companies, please visit http://www.related.com.
About Schindler Elevator Corporation
Schindler Elevator Corporation is the North American operation of the Switzerland-based Schindler Group, a leading global mobility provider with approximately 43,000 employees operating in more than 100 countries. Schindler supports sustainable urban development with safe, reliable and ecologically sound mobility solutions and its equipment moves one billion people every day all over the world. In 2011, Schindler was named one of Forbes Magazine’s 100 Most Innovative Companies, and two of the company’s products received the 2011 Architectural Products’ Product Innovation Award. For additional information about Schindler Elevator Corporation, visit the company’s Web site at http://www.us.schindler.com.
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Schindler To Install Intuitive PORT Elevator Technology at Luxury Chicago Apartment Tower
PPD Recognized for Outstanding Employee Training and Development
Posted: at 11:07 pm
WILMINGTON, N.C.--(BUSINESS WIRE)--
Highlighting its commitment to employees and clients, Pharmaceutical Product Development, LLC (PPD) today announced that Training magazine has named the global contract research organization to the 2012 Training Top 125 list of businesses excelling in employee development.
“The best learning and development organizations, like PPD, support business initiatives tactically and help drive strategic change,” said Lorri Freifeld, editor-in-chief of Training magazine. PPD was recognized during an awards ceremony at the Training 2012 conference February 13 at the Georgia World Congress Center in Atlanta.
PPD’s strategic approach to employee development is designed to drive employee engagement, enhance expertise and deliver client value. PPD training initiatives leverage the latest thinking in learning methodology through a broad array of programs for employees across the global business, from new hires to veteran staff, from generalists to highly trained specialists.
Key to PPD's success in employee training is an effective partnership between its human resources team and its technology, innovation and performance (TIP) group, which integrates training, process improvement, information technology and business analytics.
“Our integrated structure is unique in the CRO industry in that it provides a holistic and integrated approach to continuous improvement,” said Mike Wilkinson, executive vice president and chief information officer for PPD. “We train and develop staff, measure performance against standards, optimize processes, innovate technology and measure post-improvement performance – then initiate additional cycles of continuous improvement.”
PPD’s innovation in employee development includes:
The clinical foundation program, the flagship training program for clinical research associates (CRAs) that addresses theoretical knowledge and practical application, followed by performance-based assessment. In 2011, CenterWatch cited strong CRA training programs as one reason for PPD’s top ranking among CROs in its global survey of clinical research sites. PPD® 3D, a virtual, collaborative environment featuring user-customized avatars that is designed to improve the cost-effectiveness, speed and quality of clinical trial training. PPD adapted its clinical foundation program for the virtual training world, collaborating with ProtonMedia on its ProtoSphere platform. PPD 3D won a Microsoft 2011 Life Sciences Innovation Award. The global leadership program, which develops the strategic and global skills of rising company leaders over a six-month period, increasing their effectiveness in current roles and honing the skills required of future PPD executives. Focus areas include financial acumen, strategic leadership, negotiating skills and personal development planning.
The Training Top 125 list is determined by assessing a range of qualitative and quantitative factors, including financial investment in employee development, the scope of development programs and how closely such development efforts are linked to business goals and objectives.
Training magazine is a 48-year-old professional development magazine written for training, human resources and business management professionals in all industries who advocate for training and workforce development as a business tool.
About PPD
PPD is a leading global contract research organization providing drug discovery, development and lifecycle management services. Our clients and partners include pharmaceutical, biotechnology, medical device, academic and government organizations. With offices in 45 countries and more than 11,500 professionals worldwide, PPD applies innovative technologies, therapeutic expertise and a commitment to quality to help clients and partners accelerate the delivery of safe and effective therapeutics and maximize the returns on their R&D investments. For more information, visit http://www.ppdi.com.
Except for historical information, all of the statements, expectations and assumptions, including statements, expectations and assumptions about the PPD employee training and development initiatives and the Training Top 125 awards, contained in this news release are forward-looking statements that involve a number of risks and uncertainties. Although PPD attempts to be accurate in making these forward-looking statements, it is possible that future circumstances might differ from the assumptions on which such statements are based and could cause actual results to differ materially from the forward-looking statements. Other important factors which could cause future results to differ materially include the following: competition in the outsourcing industry; the ability to attract, integrate and retain key personnel, including a new CEO; risks associated with and dependence on strategic relationships; rapid technological advances that make our services less competitive; overall global economic conditions; economic conditions, research and development spending, and outsourcing trends in the pharmaceutical, biotechnology and government-sponsored research sectors; consolidation in the pharmaceutical and biotechnology industries; PPD’s ability to win new business; loss, delay or modification of large contracts; higher-than-expected cancellation rates; the rate of conversion of backlog into revenue; actual operating performance; risks associated with acquisitions and investments; compliance with drug development regulations; changes in the regulation of the drug development process; and the ability to control SG&A spending. PPD assumes no obligation and expressly disclaims any duty to update these forward-looking statements in the future, except as required by applicable law. These forward-looking statements should not be relied upon as representing PPD’s estimates or views as of any date subsequent to the date hereof.
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PPD Recognized for Outstanding Employee Training and Development