HOW TO NAVIGATE THE WORKPLACE APRIL
EDITORS’ MESSAGE
Team, as we continue to press on during these unprecedented times. It is important to reflect on our unrelenting commitment to support our Members, Clients, each other, and the wider Jamaican community. Together our commitment has helped to achieve the best Net Surplus in VM Group’s history – $2.64 billion, 23.68 per cent above the previous year and 41.69 per cent above the pre-COVID-19 budget. As our Cultural Belief states, ‘Together Wi A Winna’. Let’s support each other through this uncertain time, while remaining positive and confident that VM, Jamaica and the world will continue to emerge from this period stronger than ever. In this edition of VM Buzz, we share some tips on how to navigate the workplace, news about the use of the EMV chip cards on our ATM network and take a look back at some important details you may have missed. Stay safe and feel free to share feedback with us at VMCorporateAffairs@myvmgroup.com
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CONTENTS
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Page 6 VMBS Accepts EMV chip cards on ATM Network Chip cards are safer in protecting against fraud – full stop!
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How to Navigate the Workplace
In case you missed it
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A look back at some info you might have missed.
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While navigating the workplace might seem tricky at times, if you focus on what you can control, you can build good habits.
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HOW TO NAVIGATE THE WORKPLACE
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Whether you are starting a new job, working from home more often or dealing with stress at work, it is important to find effective ways to navigate the workplace. The following steps will help you to build a solid working relationship with your manager and find balance as you progress in your career.
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FIGURE OUT HOW TO BE MORE PRODUCTIVE. DETERMINE HOW YOU WORK BEST. While navigating the workplace might seem tricky at times, if you focus on what you can control, you can build good habits. If you are working remotely, you can schedule your workday in advance and organise your day based on when you work best. If you find yourself procrastinating, try breaking down your task into smaller blocks. You can also improve your efficiency and become more productive by prioritising the most important tasks rather than constantly multitasking. If you are intentional about the limited time you have, you can spend that time doing things that help you work toward your broader life goals, says Chris Sparks, founder and chief executive of The Forcing Function, a performance coaching company for investors, executives and entrepreneurs. “I like to call this putting more wood behind fewer arrows,” he says. Set boundaries to improve work-life balance and avoid burnout. Having boundaries between your work and personal life is important whether you are working remotely or in person.
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Doing so can help reduce your stress levels while working and help you establish work-life balance. For example, you could block off time on your calendar to devote certain periods to work and other periods to taking care of personal responsibilities, such as child care or exercise. During these blocks, try to focus on a single task rather than multiple ones. Establishing a work schedule can help you be more productive and ensure you complete your most essential tasks throughout the day so you aren’t spending nonwork hours catching up.
busy and it isn’t their job to go around and make sure they know all the great things you’re doing,” she says. You can use your performance review as a time to reflect and highlight your accomplishments.
Try to schedule short breaks throughout the day to help you transition between tasks and process sources of stress, which may help to combat burnout.
When you have the chance to showcase the work you have done, it is important to project confidence, says Tomas ChamorroPremuzic, chief talent scientist at the staffing firm ManpowerGroup and a professor of business psychology at Columbia University. Just as it is counterproductive to have impostor syndrome, or the feeling that you don’t deserve your accomplishments, it is also counterproductive to show too much confidence, he says. “The right amount of confidence is being aware of what you know and what you don’t know between your strengths and limitations.”
Job burnout is often the result of chronic workplace stress, and manifests as exhaustion, cynicism and feeling ineffectual. Recognising the signs of burnout can help you take steps to correct it and prevent it in the future. FOCUS ON BUILDING MEANINGFUL RELATIONSHIPS AT WORK. BUILD RELATIONSHIPS WITH MENTORS AND CO-WORKERS. Today, Minda Harts is chief executive of The Memo, a career-development company that focuses on women of color, and author of “The Memo: What Women of Color Need to Know to Secure a Seat at the Table.” But when she first entered the workforce, Ms. Harts says she came into the office, put her head down and did her job. She didn’t socialise or go out for drinks with colleagues outside of work hours. So even though she was excelling at the job she was hired to do, she says she wasn’t seen as approachable. Eventually, Ms. Harts said, she realised that she needed to forge relationships with mentors who could vouch for her to advance. “I knew that people had to get to know me, and people tend to gravitate to people they think they are connected to. Top tips 1. If you are working remotely, join virtual office events. Building social capital doesn’t have to stop in a virtual environment. Ms. Harts suggests joining virtual book clubs or other social events to get to know your colleagues better. If these events aren’t already happening at your workplace, why not try organising one yourself? You could also join or start employee resource groups. 2. Promote the work you are doing. Young professionals and underrepresented workers don’t always promote themselves in the workplace for fear of being seen as arrogant, says Constance Noonan Hadley, an organisational psychologist and lecturer at Boston University’s Questrom School of Business. “People are really
COMBAT IMPOSTER SYNDROME TO HAVE CONFIDENCE IN YOUR ABILITIES.
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Tips
1. Practice. If you need to give a presentation, Dr. Chamorro-Premuzic suggests telling a story based on two or three main points you want to share, and rehearsing with someone who will give you honest feedback. 2. Read the room. Sometimes junior employees make the mistake of being too self-centered when they present rather than reading the room, says Dr. ChamorroPremuzic. If people look bored, consider that you might be going on too long. If they are smiling or nodding, that is a sign they might want to hear more.
IN SUMMARY
Navigating the workplace involves understanding the nature of office politics and asking questions to learn more about how things work.
Work to develop a good relationship with your manager, and don’t be afraid to highlight your accomplishments, especially when it is time for your performance review. Avoid job burnout by setting boundaries in the workplace. This will help you maintain work-life balance and keep achieving your goals.
Article Adapted from The Wall Street Journal
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VMBS ACCEPTS EMV CHIP CARDS ON ATM NETWORK KEY POINTS
V • VMBS ATMs now accept EMV chip cards for National Commercial Bank (NCB) and Bank of Nova Scotia (BNS) account holders
• This implementation is consistent with Growth and Resilience in our strategic drive to build Growth, Innovation and Resilience • The EMV chip card acceptance became effective February 21st 2021
CURRENT SITUATION
“Chip technology helps reduce counterfeit fraud by 76%”
https://usa.visa.com/visa-everywhere/blog/bdp/2019/05/28/ chip-technology-helps-1559068467332.html
Chip cards are safer in protecting against fraud – full stop!
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The global Financial Action Task Force (FATF), in its recent publication, COVID-19-related Money Laundering and Terrorist Financing, Risk and Policy Response, 2020, lists “Increased Fraud” among its evolving money-laundering and terrorist-financing risks. Here in Jamaica it is no secret that fraud has escalated even further during the pandemic. ATMs have not been left out of this trend. While customer education is often cited as a key mitigation strategy in the fight against fraud, financial institutions (FIs) also have a responsibility to implement measures that provide added protection for its customers. It is noteworthy that the local payments market has evolved with the presence of the safer EMV contactless cards (i.e. chip cards) among point of sale (POS) merchants and ATMs.
Victoria Mutual in aggressively pursuing the 2021 NPS of 52 and Group Surplus of $1.3 billion has been going through its own evolution by further digitizing its payments infrastructure. With an upgrade to VM Express Online and the Programme Management Office (PMO) leading the delivery of both ACH participation and an international card in 2021, there is a lot happening!
RECENT CHANGE – INTRODUCTION OF EMV CHIP CARDS AT ATMS Meeting the growth and resilience objectives while satisfying the need for greater security means further collaboration within VM. Group Information & Communications Technology (GICT) with the support of the Group Operations team recently led the introduction of EMV card compatibility on the ATM network. This change will allow account holders from National Commercial Bank (NCB) and Scotiabank to use their chip-enabled cards at VMBS ATMs. These EMV cards are compatible with both our new iATMs as well as the older machines in use.
IMPACT & BENEFITS OF EMV CHIP CARD COMPATIBILITY The Modern Mutual stands to gain in the following ways: • Growth in Group surplus from revenues associated with other banks’ card holders using their cards at VMBS machines • Better preparation of the ATM network for the 2021 rollout of VMBS’ own EMV chip card •Improved resilience and reduced financial losses associated with greater security offered to cardholders upon deployment • Improved Net Promoter Score (NPS) associated with Member transactions on the ATM network
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IN CASE YOU MISSED IT! VM Wealth UT (Unit Trusts) Sizzle Campaign VM Wealth Advisor, Trace Gayle (left), presents with Sashae Mitchell, Human Resources Officer with a US$750 Bijoux Gift Certificate in the recently concluded UT (Unit Trust) Sizzling Campaign. Sashae made the referral for the Unit Trust which was closed by Trace.
Hillory Brown, VMBS Teller, Linstead Branch (right), accepts a $15,000 gift certificate on behalf of Kessia Henry-Thompson, who was recognised for making the most Unit Trust referrals for the month of November 2020. The certificate was presented by Tamara Waul-Douglas, Manager of Sales and Client Relations, VM Wealth, (left) along with Linstead Branch Manager, Chereese Stewart.
2020 VM Group Audited Financial Statements
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Courtney Campbell, VM Group President & Chief Executive Officer said that the solid performance of the organisation was primarily due to the unrelenting commitment of the VM Team to transforming lives, as well as the longstanding trust and loyalty of VM’s Members and Clients.
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Click here for 2020 VM Group Audited Financial Statements (Link https:// www.vmbs.com/news/ impressive-2020-growth/)