<?xml version="1.0" encoding="UTF-8"?>
<rss version="2.0"
	xmlns:content="http://purl.org/rss/1.0/modules/content/"
	xmlns:wfw="http://wellformedweb.org/CommentAPI/"
	xmlns:dc="http://purl.org/dc/elements/1.1/"
	xmlns:atom="http://www.w3.org/2005/Atom"
	xmlns:sy="http://purl.org/rss/1.0/modules/syndication/"
	xmlns:slash="http://purl.org/rss/1.0/modules/slash/"
	>

<channel>
	<title>Kristen King &#187; Money &amp; Economics</title>
	<atom:link href="http://kristenking.com/category/sass/money-economics/feed/" rel="self" type="application/rss+xml" />
	<link>http://kristenking.com</link>
	<description>Blogger &#124; Copywriter &#124; Consultant</description>
	<lastBuildDate>Tue, 31 Aug 2010 23:05:58 +0000</lastBuildDate>
	<generator>http://wordpress.org/?v=2.8.4</generator>
	<language>en</language>
	<sy:updatePeriod>hourly</sy:updatePeriod>
	<sy:updateFrequency>1</sy:updateFrequency>
			<item>
		<title>Quota Schmota: Why Race- and Sex-Based Hiring Guidelines Are NOT the Answer</title>
		<link>http://kristenking.com/2010/08/quota-schmota-why-race-and-sex-based-hiring-guidelines-are-not-the-answer/</link>
		<comments>http://kristenking.com/2010/08/quota-schmota-why-race-and-sex-based-hiring-guidelines-are-not-the-answer/#comments</comments>
		<pubDate>Tue, 31 Aug 2010 23:01:56 +0000</pubDate>
		<dc:creator>Kristen King</dc:creator>
				<category><![CDATA[Culture]]></category>
		<category><![CDATA[Money & Economics]]></category>
		<category><![CDATA[affirmative action]]></category>
		<category><![CDATA[discrimination]]></category>
		<category><![CDATA[EEO]]></category>
		<category><![CDATA[equal employment]]></category>
		<category><![CDATA[equal opportunity]]></category>
		<category><![CDATA[fair hiring practices]]></category>
		<category><![CDATA[gender]]></category>
		<category><![CDATA[kristen king]]></category>
		<category><![CDATA[race]]></category>
		<category><![CDATA[sex]]></category>

		<guid isPermaLink="false">http://kristenking.com/?p=651</guid>
		<description><![CDATA[I gotta be honest here. No matter how many times you tell me that  affirmative action and quotas in hiring and school admissions are a good  idea, I will never agree. “But aren’t you for equality?” Of  course I am. “Don’t you want things to be fair?” Well, yeah, duh.  But [...]]]></description>
			<content:encoded><![CDATA[<p></p><p><strong>I gotta be honest here. No matter how many times you tell me that  affirmative action and quotas in hiring and school admissions are a good  idea, I will <em>never</em> agree. “But aren’t you for equality?” Of  course I am. “Don’t you want things to be fair?” Well, yeah, duh.  But  the only way hiring — or anything else, for that matter — will ever be  completely equitable is for people to give no regard whatsoever to race  or sex and focus <em>solely</em> on the credentials of the applicant. </strong></p>
<p>Before we go further into this topic, let’s take care of the elephant  in the room. I am a 28-year-old, well-educated, white woman from a  middle-class background. I grew up in a two-parent home in a relatively  safe, rural community, and atttended small schools where I received a  lot of personal attention. In short, I’ve had a lot of advantages.</p>
<p>Quota-based acceptance rates are often geared toward supporting those  who haven’t had the same advantages I have, but <em>this isn’t about  keeping down the other guy.</em> The central reason is that I don’t  think they actually <em>do </em>anything positive for the other guy — or  for me, or for anyone at all. In fact, I think they make things worse.  Here’s why.<span id="more-651"></span></p>
<p><strong>Scenario:</strong></p>
<blockquote><p>Sue is a hiring manager. She’s narrowed her applications to two  candidates for the open position. Applicant A, male, 34,  is supremely  well-qualified for the position, interviewed well, and is available to  start immediately. Applicant B, female, 29,  is less qualified with less  experience, but also interviewed well and is available to start  immediately.  Sue reviews her notes carefully, and makes her decision.  She wants to hire Applicant A, and the position’s manager and  subordinates all agree that he’s the best choice. But when Sue presents  her proposal and the offer package to <em>her</em> supervisor for  approval, her recommendation is quashed because of a new hiring mandate  geared toward evening the gender ratio in the workplace by hiring more  women, and the numbers are <em>way</em> off. In other words, no way can  they hire a new man. Applicant B gets the job.</p></blockquote>
<p><strong>Commentary:</strong></p>
<p>This is the essential problem with quota-based hiring: It’s just as  discriminatory as its non-quota-based counterpart. The man doesn’t get  the job <em>because</em> he’s a man. How is that any different from  someone not getting a job because they’re female or black or from a bad  neighborhood? If you ask me, it’s the same thing.</p>
<p>Something you’ll here us say on this blog a lot is, “Who says it’s a  man’s world?” Women have been increasingly present in the workplace and  in their own entrepreneurial ventures over the last several decades, and  I would hate to think that it’s because some quota forced companies to  hire unqualified people simply to meet some arbitrary requirement. How  is that fair? Getting a job because you happened to be more  fill-in-random-physical-or-geographical-characteristic-here than the  other applicants despite the fact that you’re less qualified is not a  good thing.</p>
<p>Take a look at our scenario. Who’s going to feel good about this  hiring decision? Well, Sue sure isn’t. She knows that the less qualified  applicant got the position, and she’s probably going to feel resentful  toward her supervisor for making her offer the job to the wrong person,  and she’s also going to resent the new employee for making her feel  impotent in her job as hiring manager. The  person supervising the new  hire isn’t going to feel good about it because he knows the wrong person  got the job, too, and that his new employee isn’t as well qualified as  the one he wanted and thought he would get. The subordinates of the new  hire, who were involved in the interview process and are familiar with  the appplicants’ backgrounds, aren’t going to feel good about it because  they got the less well-qualified supervisor.</p>
<p>And Applicant B, who just got the job, probably isn’t going to feel  too great about it either, not when she gets to work and finds that her  boss and the people who answer to her are standoffish and sullen. She  may not know why, but if she finds out that they’re mad a less qualified  position got the job, that will do little for her confidence in the  position or her relationships with her coworkers. If she doesn’t find  out, she may feel that she’s being treated that way because she’s a  woman (and technically, she’ll be right).</p>
<p><strong>A Better Solution:</strong></p>
<p>I’m all for diversity in the workplace, but it needs to be <em>natural </em>diversity, not the charade of forced quotas. How does that happen?  Diversity-focused recruitment efforts. Companies need to attend career  fairs, networking events, and university employment events in a variety  of geographical and demographic areas. Need a more international  workforce? Don’t just hire the first guy from China who applies. Target  international career fairs and visit college campuses with a strong  international component. Need more women? Try career fairs at women’s  colleges, and advertise your openings with professional organizations  for women. The more diverse your applicant pool, the more your raise  your changes of having a top applicant who will add a unique background  and social experience to your organization.</p>
<p>We also need to remember that diversity is more than just sex and  skin color. Diversity can also be about religious beliefs, cultural  upbringing, geographical origin, political affiliations, and anything  else you can think of that makes people who they are. Focusing on the  two most superficial elements of diversity is narrowminded and  counterproductive.</p>
<p>The key to a truly equitable diverse workplace is not just getting  the numbers right. It’s creating a corporate culture that embraces  excellence in whatever form it comes, and striving to open opportunities  to a wide group of people. If you’re hiring for five positions and the  top applicant in each position happens to be a middle-aged white guy,  hire five middle-aged white guys. But if all of your recruiting  activities are happening in <a href="http://www.washingtonpost.com/wp-dyn/content/article/2006/06/18/AR2006061800605.html" target="_blank">Portland, Oregon,</a> and that happens, you don’t get  to complain about the lack of diversity in your organization.</p>
<p><em><strong>What do you think? Are quota-based hiring methods  critical to workplace diversity? Leave a comment.</strong></em></p>
<p><em>NB: A version of this post originally appeared on the now-defunct BizChicksRule.com in January 2008. The editor of the business channel where the site was housed provided the scenario above as a prompt for all of the bloggers in the section. This was my response.<br />
</em></p>
]]></content:encoded>
			<wfw:commentRss>http://kristenking.com/2010/08/quota-schmota-why-race-and-sex-based-hiring-guidelines-are-not-the-answer/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>US Consumer Credit Climate: 37% of Consumer Credit Scores are Up, 31% Down and 32% Remain Stable, According to Credit Karma&#8217;s Unique Trend Data</title>
		<link>http://kristenking.com/2009/02/us-consumer-credit-climate-37-of-consumer-credit-scores-are-up-31-down-and-32-remain-stable-according-to-credit-karmas-unique-trend-data/</link>
		<comments>http://kristenking.com/2009/02/us-consumer-credit-climate-37-of-consumer-credit-scores-are-up-31-down-and-32-remain-stable-according-to-credit-karmas-unique-trend-data/#comments</comments>
		<pubDate>Thu, 26 Feb 2009 14:00:38 +0000</pubDate>
		<dc:creator>Kristen King</dc:creator>
				<category><![CDATA[Money & Economics]]></category>
		<category><![CDATA[consumer credit]]></category>
		<category><![CDATA[credit karma]]></category>
		<category><![CDATA[credit report]]></category>
		<category><![CDATA[credit score]]></category>
		<category><![CDATA[economy]]></category>
		<category><![CDATA[finances]]></category>
		<category><![CDATA[US economy]]></category>

		<guid isPermaLink="false">http://sass-pants.com/2009/02/26/us-consumer-credit-climage-37-of-consumer-credit-scores-are-up-31-down-and-32-remain-stable-according-to-credit-karmas-unique-trend-data/</guid>
		<description><![CDATA[(www.sass-pants.com) &#8212; If you&#8217;re not already keeping a close eye on your credit score, it&#8217;s time to start &#8212; and Credit Karma can help. I signed up for Credit Karma after reading about it on Yielding Wealth last summer, and I love the monthly reminders to check my credit score.
Credit Karma is a pro-consumer credit [...]]]></description>
			<content:encoded><![CDATA[<p></p><p>(<a href="http://sass-pants.com" title="Kristen King" target="_blank">www.sass-pants.com</a>) &#8212; If you&#8217;re not already keeping a close eye on your credit score, it&#8217;s time to start &#8212; and <a href="http://www.creditkarma.com/" title="credit karma" target="_blank">Credit Karma</a> can help. I signed up for Credit Karma after <a href="http://www.yieldingwealth.com/yes-it-is-possible-to-get-a-free-credit-score/" title="free credit score from credit karma" target="_blank">reading about it on Yielding Wealth</a> last summer, and I love the monthly reminders to check my credit score.</p>
<p>Credit Karma is a pro-consumer credit score tracking and management service that has delivered more than 850,000 free credit scores and counts more than 250,000 registered users. Yesterday, they released their U.S. Credit Score Climate Report with trend data for January 2009.</p>
<p>The Credit Karma U.S. Consumer Credit Score Climate Report will provide a monthly barometer on consumer credit trends, a particularly important economic indicator in today’s market. Each month, the Report will offer unique and insightful statistics on the health of consumer credit scores nationwide. Trend data in the report is based on a comparison of Credit Karma users’ January credit score with their previous credit score at least 30 days prior and no more than 90 days out.</p>
<p style="text-align: center;"><img src="http://kristenking.com/wp-content/uploads/2009/02/credit-climate.jpg" width="360" height="360" alt="credit climate.jpg" style="margin-top:5px; margin-right:5px; margin-bottom:5px; margin-left:5px;" /></p>
<p>During the October 2008 to January 2009 time period, 37% of consumer credit scores have gone up, 31% have gone down, and 32% remained the same. Of the scores that increased, the average credit score rose 13 points during the time period. Of the scores that decreased, the average credit score dropped 15 points. Here are some additional points revealed in the Report:</p>
<p><strong>Average credit score with no change is 693 whereas 673 and 662 are the respective credit score averages for those with an increase and decrease.</strong> This would suggest that people with higher credit scores maintain more stable credit scores while those with marginal credit scores tend to be in flux.</p>
<p><strong>Age is one key factor</strong><strong>.</strong> Younger consumers, age 18-24, saw the biggest increase in their credit scores. This is caused by a few factors. First, younger people have a shorter credit history and therefore lower scores (Average score: 670). As a result, we see a higher percent of younger consumer’s credit scores on the increase. Secondly, older consumers, age 65+, tend to have a longer and more stable credit history (Average score: 736)</p>
<p><strong>Location is another key factor.</strong> As states experience economic changes such as massive layoffs, foreclosure, bankruptcy or impacts of the economic stimulus initiatives, credit scores may be impacted. Currently, we don’t see major differences between the states highlighted in this report.</p>
<div style="text-align: center;">
  <img src="http://kristenking.com/wp-content/uploads/2009/02/credit-age-group.jpg" width="360" height="360" alt="credit age group.jpg" style="margin-top:5px; margin-right:5px; margin-bottom:5px; margin-left:5px;" />
</div>
<p>“It’s interesting to note that while more than 74% of consumers believe that their credit score is on the way up, the reality is more measured,” comments Kenneth Lin, chief executive officer of Credit Karma. “Our goal with this Report is to give the market a look at trends in consumer credit, highlight unique differences across age bands and geographies, and evangelize the importance of good credit health.”</p>
<p><strong><em>Methodology</em></strong></p>
<p>Each month, the Credit Karma U.S. Consumer Credit Score Climate Report compares the current credit scores of its 250,000 user base with previous scores pulled at least 30 days prior and no more than 90 days prior to the stated month. This month’s report includes a comparison of 20,000 Credit Karma user scores.</p>
<p><em>Contents Copyright © 2009 <a href="http://sass-pants.com/contact-kristen" title="Kristen King" target="_blank">Kristen King</a></em></p>
<p>(images courtesy of Credit Karma)</p>
]]></content:encoded>
			<wfw:commentRss>http://kristenking.com/2009/02/us-consumer-credit-climate-37-of-consumer-credit-scores-are-up-31-down-and-32-remain-stable-according-to-credit-karmas-unique-trend-data/feed/</wfw:commentRss>
		<slash:comments>1</slash:comments>
		</item>
	</channel>
</rss>
