10 Communication Resolutions to Enhance Your Career in 2017
It’s that time of year again – the time to make New Year’s resolutions.
But instead of just going the traditional route – pledging to join a gym to work off holiday excesses – why not opt to give your career a boost as well? Resolve to improve your communication skills.
Yes, you read that last sentence correctly! How you communicate with others—whether in person, in writing, or online—has a tremendous impact on your career. It affects every aspect of your working life, no matter how good your specialized skills are in your particular field.
For the coming year, make these communication resolutions to enhance your career:
1. Resolve to keep your phone off the table when meeting with someone. Having your phone visible tells the other person, “I am so ready to drop you and connect with someone else.” It’s important to give people your full attention.
2. Take a presentation skills class. Work on becoming a better presenter. You need to get your point across. And if you do so effectively, not only does your audience gain information, but you look good.
3. Use “reply all” only when it is necessary for everyone on the list to see the email. In my classes, many participants say they really dislike receiving unnecessary emails. If you don’t want to receive unwanted emails, you need to stop overusing “reply all,” also.
4. Be smart with social media. Don’t allow social media to hurt your career. If your sites suggest you drink too much, curse a lot, or post nasty comments, people may question whether they want to work with you or hire you.
5. Offer your opinion. If you don’t speak up in meetings, your boss, colleagues, or clients won’t know what you know. And speak early in the meeting. The longer you wait to talk, the harder it is likely to become.
6. Learn to command the room. Dress appropriately. Walk into a room as though you belong there. Stand tall. Don’t fidget. Shake hands correctly. When nervous, say something positive to yourself. Before she enters a meeting room, one woman I coached says to herself, “I own this meeting!”
7. Monitor your volume. Make sure you speak loudly enough to be heard. Many people don’t. Do not underestimate how powerful a strong voice can be – but don’t confuse powerful with shouting. You want your opinions, thoughts and ideas to register with others.
8. Apply for awards. Winning professional or community awards helps to build your credibility, and can be an important way to promote yourself. To be eligible for many awards, other people have to recommend you; for some, however, you can nominate yourself. This is not an obnoxious thing to do. You still have to earn the award.
9. Be friendly and helpful. People want to work with others they know, like and trust. It may seem obvious, but too often people neglect the little things that build relationships. Greet people you know and also those you don’t know. Smile. Say “please” and “thank you.” Help people when you can. Make connections for others, both online and in person.
10. Send thank-you notes. In the New Year, start showing appreciation for the kindness of others. If you receive a gift, visit the home of a boss or colleague, or are a guest at a meal, you must send a note. You also need to send a thank-you note after a job interview.
An Advisor's Guide to Helping Women Become Savvy Investors
Today, more women than ever are involved in managing their personal and household finances. In a recent study, nearly half of the women surveyed (44%) stated that they are solely responsible for their household financial decisions, compared to 35% of men1. But the study wasn’t all good news. While women may be taking the lead when it comes to their finances, they also reported that they are not confident in doing so. In fact, in every financial category included in the survey, men reported much greater confidence than women. Where was the biggest gap? You guessed it: investing.
For advisors, this presents a challenge and an opportunity. There is a 90% likelihood that a woman will be financially self-reliant at some point in her life due to divorce, becoming a widow, or choosing to marry later in life or not at all2. By taking steps to help your female clients become confident, savvy investors, you’ll not only be more effective at serving in the best interests of these women and their families, but you’ll also be able to build much stronger, more trusted relationships to help ensure each family’s assets remain in your care for decades to come.
Follow these five steps to help your female clients invest with greater confidence:
1. Urge every woman to put her financial needs first.
Women do have a weakness when it comes to planning for the future, but it has nothing to do with a lack of knowledge, skill, or smarts. Their primary weakness is a willingness to put others’ needs first. This is a huge mistake when it comes to planning for the future. Investing for retirement simply can’t wait until the kids are grown or aging parents no longer need care. In fact, based on average life expectancies, women should plan to accumulate enough funds to last at least 20 years after retirement. The following chart illustrates the power of compounding based on an 8% rate of return to help bring that point home:
This hypothetical example assumes an annual 8% rate of return and does not take into account income taxes or investment fees and expenses. This example is for illustrative purposes only and does not represent the performance of any specific investment. An investor’s actual return is not likely to be consistent from year to year, and there is no guarantee that a specific rate of return will be achieved.
2. Educate women about the power of investing.
Security about any topic is rooted in confidence and knowledge. Educating your female clients about investment basics can help drive more confident decisions and more positive long-term outcomes. From the basics of compounding to the nuts and bolts of researching options and understanding the pros and cons of different asset classes, make it your job to help every client understand what she is buying—and why.
3. Dive into the details of asset allocation.
Asset allocation is by far the largest determinant of a portfolio’s success—even more important than the individual securities selected and timing of an investment. This is critical information for your client to understand as she pursues her financial goals.
4. Discuss how her investment strategy needs to evolve over time.
Part of every client’s financial education should be to understand how financial needs and goals change with each stage of life stage. Because a shorter investment time horizon creates greater vulnerability to market volatility, she needs to understand the impact of shifting a portion of her investment portfolio to more income-oriented investments as she moves closer to retirement. This Life Stages Guide can help you paint a clear picture of how allocation strategies need to evolve to fit her changing needs.
5. Be sure she’s covering all the financial bases.
Smart investing is vital, but missteps in other areas of financial planning can thwart even the best investment plan. Offer every client a basic planning checklist that includes these three important steps:
- Focus on the big picture. Organize your important financial papers and schedule an annual review of your investment strategy with your advisor. Regularly monitor your net worth—including your assets (all investments and savings) and liabilities (mortgage, credit cards, and other debts) to be sure you’re always moving toward your end goal of a secure retirement.
- Pay down any outstanding debt. Debt reduces your net worth, threatens your financial security today, and reduces your ability to invest for the future. Do whatever you can to minimize debt, and build an emergency fund to help pay for any unexpected expenses.
- Make estate planning a priority. Once a year, review your will and your beneficiary designations for every account to be sure they continue to reflect your wishes. If you have children under 18, work with your advisor or estate planner to establish a trust and select a trustee to ensure your assets are managed for the benefit of your children.
As a trusted advisor, make it your mission to provide your female clients with the education and guidance they need to become savvy investors and make the smart, educated financial decisions. By doing so, you can help every woman you work with not only enhance her financial security, but also gain the confidence to take greater control of every aspect of her financial life.
Click here to learn more about IndexIQ.
 Survey conducted by Regions Financial Corp. in partnership with Vanderbilt University, 2015.
 The Simple Dollar, “Guide to Financial Independence for Women,” 2014.
Disclosure: The information and opinions herein are for general information use only. The opinions reflect those of the writers but not necessarily those of New York Life Investment Management LLC (NYLIM). NYLIM does not guarantee their accuracy or completeness, nor does New York Life Investment Management LLC assume any liability for any loss that may result from the reliance by any person upon any such information or opinions. Such information and opinions are subject to change without notice and are not intended as an offer or solicitation with respect to the purchase or sale of any security or as personalized investment advice.
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