Increasing our Earnings – Capturing every Opportunity

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Can you believe another week has already gone by!   I’m Marty here with Warehouse and Operations as a Career and I’d like to thank you for Listening in with us again today.  If you are a repeat listener, and I hope you are, shoot I hope everyone has Subscribed so you won’t miss out on any of our weekly or special episodes.  All you need to do is click that little subscribe button on iTunes if you’re on a desk top or use the Apple Podcast app on your iPhone and for us Android users I’d recommend Google Play Music and of course there’s a host of Podcatcher App’s out there to use.  And all these buttons can be found on our website Warehouse and Operations as a Career.com.  And while I’m talking about the show I’ll throw a quick plug out to our Twitter and Facebook Feeds, both can be found using @whseandops on both forms of media.  We try and retweet as many job postings as we can each week to Twitter and all our episodes can be found on our Facebook Page too.  Well, enough promotion stuff, what are we going to talk about today, let me see here.

Oh, WAOC went mobile a couple of times lately, we really enjoyed the Job Fair we we’re invited to a few weeks ago and meeting up with Joe last week on the road in Denver was really cool.  If you have an event coming up or an idea for a mobile show shoot us an email, we enjoy hitting the road and talking with you!

I jotted down a few notes, a couple of things to look at, you know a couple of things that’s came up recently, I guess more like questions regarding things brought up on the show, like our discussions on Pay Rates and piece pay, benefits and how we need to dig into and understand our orientations & wages.  I know we talk a lot about getting our foot in the door and taking a job while we plan for that advancement & promotion to what we’re really wanting to do.  I think if we have figured out what our goal is & we’ve put together a plan to get there It’s just easier to think of our yearly earnings or wages than to think about our hourly rate or Salary?

I think back in episode 9, we were working with Jeff Character, remember our virtual example employee, while he was struggling with needing to pay for parking.  I think the company or the employer was offering a discounted rate when deducted from his check or he could pay the full amount by the day, which seemed much cheaper at $5 a day than the $62 taken out of his check on the first of each month?  We would be saving about $40 each month or $480 a year if we’d have went with that $62 dollar or monthly deduction!  Recently a scenario came up about insurance, along the same lines so let’s look at it for a minute.

To keep it simple & just as examples, I’m not calculating anything or using the real formulas and we’ll use U.S. dollars and information just because I’m more familiar with them.  So with Health Care here, we need to carry some sort of Health Insurance or we may be penalized a calculated amount.  Let’s say the penalty is $750.00 a year based on our income.  And our employer offers a plan at a cost to us off 11.00 a week.  Now this $11.00 a week is the bare minimum plan, doesn’t offer much but it satisfies the requirements and prevents the possible penalty.  So our penalty was $750/yr and our insurance is $11.00 a week, which is $572 a year, we’re actually coming out ahead, for the year by taking the insurance and saving, or earning, depending how your wanting to look at it a $178! Even with a bit more comprehensive plan or one that offers a little more coverage like a few Dr. Visits and a little more than just preventative medicine, let’s say its $23 a week or $1196 dollars a year, we’re actually only out or it’s costing us $446 a year if you factor in the penalty we could have to pay anyway if we carried no insurance. The point here of course is to Be sure we understand AND figure our income by the Yearly totals and not just a hourly wage.  In the two examples, we mentioned we’ll be talking about roughly the equivalent of around 1hour of overtime a week and we’d be adding money to our yearly wage!

Another thing that’s hard to realize to us, I know it is for me, is working for a lower wage than we have before.  If we just look at it using math though, Let’s say we had a job making $15.00/hr and we’re offered a position for $12.00/hr, or even $11.00/hr.  We don’t have that job making that $600 a week any more, we’re out looking for a job so we’re at ‘0″ dollars a week right now.  $480 and even $440 is better than our 0 a week!  And we’re going to start out, right from the start showing our new employer that we’re there on time and ready to work for every shift and doing a great job, being productive and wanting more.  We will advance, I’m certain of it.  Even if our starting wage is all they can pay for that position there are other positions that once we learn our task we can advance too, keep moving through the positions until we get the job we want and at the wage that we’re looking for.  Like I always say I hope we’re all shooting for or planning for that VP position or even higher or the position that gives us what we want, financially, physically and emotionally, something we love doing!  We need to plan for our Goal which should be retirement from a great career doing something we really enjoy!  Again, think down the road, at least by the year and not on our present hourly wage.  There’s typically 2,080 regular time hours in a year, that’s a 40 hour work week.  Odds are we’re not going to be making that $11 or $12 dollars all year, that’s just our starting wage.  If we just can’t block out that hourly component lets divide our end of year earnings by the hours we worked, it’ll be more, maybe much more if we’ve worked a lot of overtime throughout the year!

And let’s not forget to figure in any benefits the company may be offering too.  Just this week I had a conversation with an employee regarding a monthly bonus which has a potential of $300.00 a month.  One way to look at that is an additional $1.73 an hour if we achieve all the bonus requirements each month!  I know of one company which offers Birthdays paid, that’s 8 hrs pay to add into our yearly income.  And don’t forget vacation pay, many companies may pay out that week or weeks if we don’t take them and that becomes just more to figure into our yearly wage!

Remember, when we quit thinking about just making a weekly paycheck and work just a little on understanding and learning about our wages and finances we will have earned more money at the end of the year.  That’s something I can guarantee you, if we do our part for ourselves we will be richer!

We’ve learned that pay and responsibilities kind of go together.  With each forward move and position we take –  a little more responsibility will be given to us, yes the job is going to be a little harder, we’re responsible for more, and we’re learning so much with it.  Even if we change jobs or companies for whatever reason we now have more skills & experiences to offer our new employer.  On our Twitter feed I found a quote I liked this week by Napoleon Hill “Big pay and little responsibility are circumstances seldom found together”, I couldn’t agree more with him, especially with our chosen profession of Operations, Distribution, Production and Manufacturing!

The bottom line is we have to work and we work for money, money to pay the bills and buy the things our families want and need.  We can however plan for that income, educate ourselves or look down the road a ways and figure out how to come out ahead, really way ahead at the end of each year!  I just thought about a Podcast I listened to last week, kind in line with my topic today, A friend in the financials world released her pilot episode of “Unlocking the secret of Living Rich”, check it out on iTunes and I’m sure it’ll be on Google Play Music as well. You can find it by the title or by her name Cindy B Brown.  I look forward to it being informative, check it out, and you can find her Bio Information there as well.  Well back to our show.

I’ll use those two very important words again, Orientation & Communication.  Let’s be sure to listen and ask questions about our new employer, our benefits and what our job is and what all they have to offer us in the long term and be talking about a Career right from the start.  Let’s impress them on that very first day!

We here at WAOC would be happy to help you any way we can.  We’ve had several young men and women take that next step within their companies and researching that next job with them, please shoot us an email at host@warehouseandoperationsasacareer.com if you feel we could help or get you some answers or ideas for your own advancement.  We have nothing to sell you all we can offer is experiences, our own experience and the experiences shared by the group.  Shoot us a message if you’d like to share anything or suggest topics or thoughts with the team and our listeners.

I hope I brought up something today that helped you in some way and I look forward to you checking in with us next week, your time and participation is really appreciated.  So as a Safety thought today Lets all think of one thing we’ve noticed us about our facility, one thing we’ve seen that didn’t set well with us or that we think we could make better and bring it up at this week’s Safety meeting and to our supervisor!  Our co-workers and Family will appreciate us thinking about it!

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