Boredom Can Be Fatal

May 23, 2002 (PLANSPONSOR.com) - Bored workers may soon be dead workers.

The was the bottom line of a new study, which found that employees given little chance to affect their work tend to die earlier than those allowed more leeway to make their own workplace decisions, according to a Reuters news report.

Researchers at the University of Texas Health Science Center in Houston found that people who spent their working lives in jobs where they had to make few decisions were 43% more likely to die than people in jobs with a lot of decision-making opportunities, and the increased risk continued for up to 10 years after they left their jobs.

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People who spent their working lives in passive jobs, described as those with low demands and low control over what work they do and when, were also 35% more likely to die up to 10 years after the job ended.

According to researchers, many jobs giving workers little control can be highly repetitive with little variety of needed skills – making it that much harder for workers to become engrossed in their workplace tasks.

If a worker’s assigned task are so passive that he or she has to struggle to stay awake, researchers said, that could trigger the damaging release of stress hormones.

 Encouragingly, the researchers found that people with jobs that offered only a certain amount of decision-making opportunities were less likely to die early than those given no control.
 
The findings are based on surveys of the physical and psychological working conditions of members of 5,000 households from 1968 to 1991. Jobs were classified according to decision-making opportunities, psychological demands, security, support, and physical demands.

T+1 Timing Still Uncertain

May 22, 2002 (PLANSPONSOR.com) - The Securities Industry Association (SIA)'s Board of Directors will evaluate three scenarios for moving to T+1 settlement in the US at its July meeting.

At the meeting, the trade group’s board will decide whether to:

  • retain the current T+1 timeframe of a June 2005 implementation,
  • take T+1 off the table completely, 
  • or postpone a decision on what to do about T+1 until June 2004

Don Kittel of the SIA said,”We could decide not to move to T+1 because the benefits to all players are not there but still opt to promote straight-through processing.”
Key steps to T+1 now in progress include:

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  • implementing central matching services, 
  • reducing certificates, 
  • redesigning the National Securities Clearing Corp.’s Continuous Net Settlement system, and 
  • an array of payment, standardization, corporate actions and securities lending initiatives

Don Kittell, EVP of the SIA, acknowledged that while questions remain on whether one-day settlement is better than three, concerns about whether the industry can move towards a straight-through processing environment without a T+1 mandate as a catalyst abound.


 

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