Foreclosures Hit a Bad Record in 2009 Business Articles | November 23 Cheap Cincinnati Bengals Jerseys , 2010 The high number of foreclosures, and the continuous threats on existing homeowners, has hit the lowest records and is still expected to get worse.
Last year, an incredible number of homeowners ? 2.8 million ? was threatened by possible foreclosure of their properties, and this year, that number is expected to rise Michael Jordan Bengals Jersey , as more and more people are suffering from unemployment and homeowners are unable to pay their mortgages.
The number of houses that received foreclosure notices increase by 21 percent from the previous year, according to a report by a Real Estate foreclosures services provider. One in 45 households receive something related to foreclosure, which may be a notification, auctions and repossessions.
?In December, around 349,000 houses Renell Wren Bengals Jersey , or one in every 366 households, were given a notice that is related to foreclosure. This represents a whopping 14 percent increase from November, and an even higher increase in December at 15 percent.
Banks repossessed around 92,000 homes, an increase by 19 percent from November. This was probably because of the lenders who were working hard to clear their books by the end of the year.
Stemming the foreclosures tide is one of the most important steps that the Real Estate sector and the economy can take to recover. Because foreclosed properties are more likely to be sold at a discounted price, properties will most likely see a decrease in prices. Cities lose dollars worth of property tax due to empty foreclosures Ryan Finley Bengals Jersey , as well as the decreasing values of homes. This continues to strain local economies. And even though the price of houses stabilized in several cities, the national statistics still indicate that it is down by 30 percent, from the middle of 2006.
The high number of foreclosures has forced the government, both at the federal and state levels, to devise plans to help borrowers who are in trouble. One of the major plans that the Obama administration launched, the Making Home Affordable program Germaine Pratt Bengals Jersey , has already helped homeowners to ease into the crisis. Through loan modification programs by lenders, some homeowners were able to keep up with their monthly payments.
To hire and retain very good talent is a challenge for any organization. The costs of finding and hiring new employees are very high both in terms of time and money, especially when it comes to top talent. In this scenario, alternative work arrangements like flextime are becoming very popular in today's workplace. The advances in technology have made alternative work arrangements more possible and successful than ever before. The results from flextime work arrangements have been highly encouraging. There have been increases in productivity, employee satisfaction and job loyalty. The attrition rate is lower when flexible work scheduling is used in organizations. There are opposing views about this non-traditional work arrangement, but the benefits of flextime outweigh the criticisms.
The major types of alternative work arrangements are flextime Drew Sample Bengals Jersey , job sharing, telecommuting and compressed work week. 1) Flextime: The term flextime is a short form of "flexible work time" or "flexible work hours". It allows employees to choose their own working hours within some limits. 2) Job sharing: It is an arrangement in which two or more employees share the responsibility of a full-time work position. This is a type of part-time work arrangement. 3) Telecommuting: Telecommuting or flex-place is an arrangement where employees do not travel to the office, but do their work from any other place like their home, etc., via the use of technology. 4) Compressed work week: In this work arrangement, employees complete their work obligations of 40 hours per week in lesser number of days instead of the standard five or six. Some other alternative work arrangements include compensatory time off Jonah Williams Bengals Jersey , annualized hours, temporary work and gradual retirement.
Alternative work arrangements are used to accommodate unique preferences and requirements of employees when they are unable to cope up with the traditional 40 hours work week. A new work arrangement is implemented after a plan is worked out between the employees and the senior management. Apart from the job sharing arrangement, the total time worked and work responsibilities remain the same in case of the other three major arrangements.
Increased productivity, reduced absenteeism, lower attrition rate, better employee-management relations Joe Mixon Bengals Jersey , lower tardiness, higher employee morale, etc., are some of the benefits to the company as a result of alternative work arrangements. Lower stress, greater job satisfaction, less traveling problems Jessie Bates III Bengals Jersey , increased energy and creativity, better balance between family life and work life, etc., are some of the benefits to the employees. A company will have a recruiting advantage over its competitors if it offers alternative work arrangements to new employees. The individual benefits, drawbacks and more information about flextime are discussed in the article ahead.
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