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OTHER THINGS TO REMEMBER FOR EMPLOYMENT

Financial Security
Most people associate having a sizable savings account, a strong investment portfolio, and a sizable retirement
fund with financial security. Financial security, however, involves more than just having enough cash -- it's also
about having the flexibility to make decisions about how to live your life, no matter what your circumstances
may be right now.

Financial security is having enough money to pay your monthly bills, bounce back from financial setbacks,
and put money aside for the future. Additionally, it's about feeling in control of your finances and having less
financial worry.

Example:
Michael is now accumulating money to launch his firm next year and has a six-month emergency fund and no
credit card debt. He doesn't worry when he receives an unexpected bill in the mail since he has enough money
to pay it. He has financial security because he feels secure and in control of his finances.

How it Works
Your financial security significantly influences your quality of life. A whole new universe becomes accessible if
you have enough money to pay for your present living expenditures and future savings.

• Your reaction to a financial loss is no longer one of panic.

• You don't have to increase your debt to indulge in "wants" (like a vacation or an expensive meal).
• You have the confidence to pursue chances that will make you happy rather than just those that
increase your income.

The problem is that to be financially secure; you must be future-focused. To purchase yourself freedom,
flexibility, and possibilities later on, you must develop a financial strategy to live below your means today. Most
importantly, having financial security is a sign of well-being. Instead of having a nice work title (or pay) but still
having financial difficulties, it's about feeling peaceful and being in charge of your money.

TIPS:
Start as soon as you can Even though you are already near retirement, it is never too late to
start saving since every dollar you save helps to pay your
expenditures. It is best to start saving while you are younger. For
example, you would have saved much more money than someone
who saves the same amount for 10 years if you put aside PHP 500
per month at a 5% interest rate for 40 years. However, the money
saved over a shorter time can significantly assist with retirement
expenditures.

Also, as you approach retirement, other aspects of financial

planning, such as asset allocation, will become more crucial. It is
because as the number of years you may recover losses reduces,
your risk tolerance usually increases.

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View savings deposits as a bill Regularly saving money can be difficult, especially in light of our
numerous routine costs and the alluring consumer products that
tempt us to spend our available funds. You can resist this
temptation by thinking of your retirement funds as a recurrent
expenditure like paying rent, a monthly bill, or a vehicle loan. It will
be much simpler if your future company automatically deducts the
sum from your paycheck.

You can also deposit your paycheck directly into a bank or savings
account. The chosen savings amount can also be set up for
automatic debit to be credited to the retirement savings account on
the same day as the salary.
Save in a tax-deferred account By contributing to a tax-deferred retirement account using money
set aside for retirement, you can avoid paying taxes and penalties
on impulsive purchases.

For instance, any money taken out of a conventional retirement

plan may be subject to income taxes in the year it is released. If
the recipient is under 59, an early distribution penalty of 10%
(excise tax) may also apply.
Diversify your portfolio Retirement assets are subject to the cliche that we shouldn't put all
our eggs in one basket. Combining all of your money into one
investment raises the chance that you may lose all you have
invested, and it may reduce your return on investment (ROI). As a
result, managing your retirement investments must include asset
allocation. Proper asset allocation considers the following factors:

• Your age: This is typically mirrored in how aggressively

your portfolio is managed, which is likely to take more risks
as you approach closer to retirement and less as you age.
• Your level of risk tolerance: This ensures that, if losses
do occur, they do so while it is still possible to recover the
losses.
• Whether you need your assets to increase in value or
provide income.

Consider all potential expenses Some of us fail to include expenses for long-term care, income
taxes, and medical and dental bills when making retirement plans.
Make a list of all the costs you could have in retirement to help you
determine how much money you need to save. It will enable you to
prepare effectively and establish reasonable estimates.

Retirement savings is a must Saving a lot of money is excellent, but the advantages are
diminished or even eliminated if you have to take out high-interest
loans to cover your living needs. Consequently, planning and
sticking to a budget is crucial. Your retirement savings should be
included to ensure that your projected recurrent costs are properly
considered when determining your disposable income.
Periodically reassess your portfolio Strategic asset allocation must be done on your portfolio to allow
for any necessary modifications as you approach closer retirement

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and your financial demands, costs, and risk tolerance change. You
may use this to make sure your retirement planning is on track.
Optimize your expenses To update the amounts you contribute to your retirement nest egg,
it may be a good idea to reevaluate your financial profile and make
any necessary modifications if your lifestyle, income, or financial
responsibilities have changed. For instance, you could have
finished paying off your house or auto loan, or your financial
responsibilities may now include a different number of people.

The money you save monthly may need to be increased or

decreased depending on your income, spending, and financial
commitments.
Consider your partner/spouse If you're married, consider whether your partner is also saving and
whether there are any expenditures you two might be able to split
after you retire. You must assess if your retirement funds can
support your costs and your spouse's if your partner hasn't been
saving.
Work with a financial planner Unless you have prior financial planning and portfolio management
knowledge, hiring a trained financial planner with experience will
be necessary. One of your most crucial choices will be selecting
the best person for you.

Work-Life Balance
Work-life balance has received a lot of attention lately. What does this imply for individuals who hold leadership
positions in HR? It's critical to recognize balance's role in fostering employee engagement and happiness.
Everyone can succeed at work and take care of their welfare outside the workplace with a healthy work-life
balance. Let's investigate how, as future employees, we will need this.

The condition of equilibrium when a person equally prioritizes the responsibilities of their profession and
personal life is known as work-life balance. Common causes of a bad work-life balance include the following:

• Expanded obligations at work;

• Putting in more hours;
• Increased domestic obligations; and/or
• Being a parent.

Recently, research by Aviva has generated some buzz. It was discovered that since the epidemic, people's
attention has shifted from pay to work-life balance. In it, they stated that more people stated the work-life balance
(41%) than the money (36%) was what drew them to their present position. The ranks have changed from the
year before the pandemic, 2019, to this one (Aviva, 2022).

Every one of our lives involves work in some kind. Our income ensures the lights are on, there is food on the
table, and money is set aside for rainy days. No one underestimates the significance of making enough money
to make a living. Still, it does make finding a work-life balance a little bit more difficult with the approaching cost
of living problem and energy bills on everyone's concerns.

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TIPS:
Recognize that there is no 'ideal' When you hear the phrase "work-life balance," you probably
work-life balance picture yourself working incredibly hard and leaving early to spend
the second half of the day with loved ones. Despite how wonderful
it may appear, it is not always achievable.

Instead of aiming for the ideal timetable, make a realistic one. You
could put more of your attention into work on certain days, while on
other days, you might have more time and energy to engage in
hobbies or spend time with loved ones. Not every day, but over
time, balance is attained.
Find a job that you love. Although working is a cultural expectation, your employment
shouldn't limit you. Simply put, you cannot be happy if you despise
what you do. Your work doesn't have to be perfect, but it should be
interesting enough that you don't dread getting out of bed in the
morning.
Prioritize your health Your primary priority should be physical, emotional, and mental
well-being. Fit therapy appointments into your calendar, even if it
means skipping your evening spin class or leaving work early if you
suffer from anxiety or despair. Don't be scared to call in sick when
you're having a bad day if you're dealing with chronic sickness. You
can't improve if you overwork yourself; as a result, you might need
to take more days off in the future.
Do not be reluctant to disconnect We may relieve our weekly tension by occasionally cutting links
with the outer world, creating room for new thoughts and ideas.
Unplugging may be as easy as using your daily commute to
practice transit meditation rather than reading work emails.

Take a vacation Sometimes, fully disconnecting entails taking time from work and
turning it off entirely for a while. Whether your getaway is a one-
day staycation or a two-week trip to Bali, taking time off is crucial
to rest your body and mind.
Make time for your loved ones and While your job is vital, it shouldn't take up all your time. Before
yourself accepting this employment, you were a unique person; therefore,
give priority to the interests or pursuits that bring you joy. Make a
calendar for romantic and family dates when scheduling time with
your loved ones.

Planning one-on-one time with someone you share a home with

may seem strange, but it will ensure you spend meaningful time
with them without work-life conflict. The mere fact that your job
keeps you busy does not excuse you from prioritizing your
connections.

Set limits and a work schedule To prevent burnout, establish boundaries for both you and your
coworkers. Avoid thinking about forthcoming projects or
responding to work emails as you leave the workplace. Think about
getting a second phone or computer for work so you can turn it off
after the shift is over. Use different browsers, emails, or filters for
your business and personal platforms if possible.

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Establish priorities and goals, then You may set attainable goals by using time-management
stick to them techniques, evaluating your to-do list, and eliminating things that
are of little or no value.

Pay attention to when you are most productive at work and save
that time for the tasks most crucial to your career. Avoid constantly
checking your phone and email since they are significant time
wasters that interfere with your focus and productivity. Organizing
your day can help you be more productive at work, giving you more
time to unwind after work.

Pre-employment Strategies and Techniques

A company's business plan depends on its recruitment strategy since people are essential to its success. Pre-
hire testing, also known as pre-employment assessments, is a well-liked method for unbiasedly picking the
best candidates for suitable positions.

TYPES
Cognitive Aptitude Tests These evaluate one's reasoning abilities, verbal reasoning, numerical
proficiency, problem-solving skills, critical thinking, and more.
Psychometric Tests To determine how well a candidate would fit into the firm’s culture,
psychometric exams analyze an applicant's personality qualities. They gauge
a candidate's capacity for flexibility and predict how effectively they can
contribute to your business. The Big Five personality test is one of the most
well-liked psychometric tests with scientific support.
Skill Assessment Tests These exams gauge the candidates' proficiency and abilities required for a
particular position. For instance, the writing skills and SEO understanding of
someone seeking a position as a content writer will be evaluated. According
to research from the Aberdeen Group of Studies, tests to improve one's skills
minimize job turnover by 39%.
Emotional Quotient Tests This examination gauges applicants' emotional intelligence. Applicants' soft
skills, such as empathy, listening comprehension, open expression, an
inclination for initiative, adaptability, and originality, may be evaluated using
these exams.
Video-based Assessment The questions in a pre-recorded video evaluation are a list. Each exam
question you create has a video response that candidates record for
themselves. Candidates frequently use a webcam or a mobile camera to shoot
videos. Employing managers can swiftly assess candidates for qualities like
vitality, optimism, communication style, and motivation thanks to these
assessments.

TIPS
Research the Job Role Not every job is the same. Read the job description to learn which
abilities the hiring manager values the most. Learn about the
organization and the prerequisites for the position.

Consider if you would be a good match for this organization or

whether applying for other positions would be a better use of your
time. You now know what abilities and qualities you must exhibit to
the hiring manager if you want to apply.

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Identify the Industry and Domain Some job descriptions make it clear that candidates must have
industry-specific domain expertise. AMT (automatic manual
transmission) is a phrase that applicants to car companies must be
familiar with. Still, applicants to telecom companies must be
familiar with acronyms like ARPU (average revenue per user).

Spend time studying or working in your field to become familiar with

the jargon, abilities, and other domain knowledge.
Talk to the Hiring Team Some companies employ hiring teams to do the pre-employment
procedures before they step in to interview any potential prospects
personally. Although the recruiting staff is unlikely to reveal their
exam details, they could give you some hints if you inquire.

You can enquire with the recruiting manager about the following:
• Delivery format (Is the test multiple-choice or video-
based?)
• Length (How long will the exam last?)
• Preparation (Is there anything I can do to get ready for the
test?)

Use Mock Pre-Employment Tests You can prepare for a pre-employment exam by completing a
practice test in a setting and under time limits comparable to the
actual test.
Check System Requirements The majority of pre-hire tests are completed online. Verify the
desired web browser and system processing requirements. Verify
whether any software must be downloaded and whether a webcam
or microphone is required for the test.
Stay Calm Take time to unwind the evening before your test and get a good
night's sleep. Before your exam on test day, take a few deep
breaths -- your performance may suffer from stress. These
deliberate relaxation techniques can profoundly impact the quality
of your performance.

If you have enough time during a multiple-choice test, you can

concentrate on the questions you already know the answers to
before returning to the ones you don't.
Be Aware of Job Context in Your Consider the purpose behind an employer's queries, and provide
Answers thoughtful, sincere responses addressing their worries.

If you're looking for a sales position, your responses should

highlight your sales abilities, such as your ability to close deals and
your communication style.
Read Questions Carefully Before attempting to respond, carefully read each question. A
question's meaning and response can be entirely altered by using
a few simple words, such as "not" or "always."

Rushing through a pre-employment test under the impression that

it would be simple is a typical mistake that leads to embarrassing
mistakes. Take your time; often, there is no reward for finishing
early.

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Be Yourself When engaging with the hiring team, be genuine. Of course,

present your professional side. Don't attempt to be someone you're
not, though.

Expressing your individuality will show that you are honest and self-
assured. Both of these traits aid in building trust with the individuals
judging you.

REFERENCES
Appleby, D. (2021). 10 tips for achieving financial security. Investopedia.
https://www.investopedia.com/articles/retirement/06/10secureretirementtips.asp
Acharya, A. (2023). 9 tips for passing a pre-employment assessment. Deliberate Directions.
https://www.deliberatedirections.com/pass-pre-employment-test/
Aviva (2022). Work-life balance overtakes salary post-pandemic. Retrieved 29 May 2023, from
https://www.aviva.com/newsroom/news-releases/2022/08/work-life-balance-overtakes-salary-post-
pandemic/
Horton, C. (2022). What is financial security? The Balance. https://www.thebalancemoney.com/what-is-
financial-security-5226011
Sanfilippo, M. (2023). How to improve your work-life balance today. Business News Daily.
https://www.businessnewsdaily.com/5244-improve-work-life-balance-today.html
Wedgwood, J. (2022). The importance of work-life balance. The Happiness Index.
https://thehappinessindex.com/blog/importance-work-life-balance/

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