The Basics of Benefits Management White Paper

As Steve Jenner (one of the world’s leading Project Portfolio and Benefits Realization Management subject matter experts, called the “Rottweiler” of benefits management by friends and colleagues) puts it:

“Benefits are more than simply one aspect of the ‘portfolio, program, and project management; they represent the basis for taxpayers’ and shareholders’ money being invested in change projects.”

Many companies continue to struggle to demonstrate that the forecasted advantages used to justify investment are achieved in practice throughout the world and across all industries. In her Ph.D. thesis on software project failure, Dr. Cecily Macdougall CPA (Founder and CEO of Building4Business) discovered that $5.4 billion is lost each year in Australia alone on initiatives that do not result in benefits realization.

This is primarily due to a misunderstanding of what constitutes good benefits management, which includes techniques like identification, quantification, analysis, planning, tracking, realization, and optimization.

This white paper is intended to complement Steve Jenner’s excellent book, Managing Benefits, which provides managers and practitioners from a variety of disciplines working in a variety of industries and organizations with generally applicable guidance on benefits management principles, practices, and techniques. It also serves as the foundation for our Benefits Management training and certification program.

• Employee turnover among permanent IT professionals has increased in the last three years, according to 71% of Australian CIOs, and is highest in large companies (83%).
• The increase in voluntary employee turnover, according to 46% of CIOs, is due to the availability of more IT positions in the market.
• Permanent IT personnel currently have an average of 4.6 years of experience.

In Australia, there is such a strong demand for IT specialists that many do not stay in one position for long before moving on to a better opportunity.

According to research commissioned by specialized recruiter Robert Half, the progress and application of new technologies are creating both opportunities and challenges in the IT job market.

Over seven out of ten (71%), Australian CIOs think employment turnover among permanent IT professionals has grown significantly in the last three years, with one out of every five (20%) stating it has been “substantial.”

According to some estimates, there will be 722,000 IT professionals in Australia by 2020, up from 600,000 in 2014, however, there is already a skills deficit.

According to Australian CIOs, over a third (31%) of IT personnel depart within two years or less.

Voluntary IT staff turnover is highest in big organizations (83%), followed by medium (77%) and small organizations (77%), according to the study, which polled 160 Australian CIOs (52%).

In the top five reasons for leaving, there are more IT employment chances in the market (46%) than there are in the company (41%) and there are concerns about corporate performance and fear of redundancies (36%) as well as a lack of work-life balance and a desire for a more diversified career (32%).

“As firms progressively embrace new technologies that demand specialized skillsets to handle them, the technology sector is booming, generating a wealth of possibilities for exceptional IT workers,” says Andrew Morris, Director of Robert Half Australia.

“In this environment, in-demand IT experts who want to expand their career chances will look for fresh options everywhere they can,” he adds.

From reduced productivity and employee morale to increased recruitment and training costs, as well as loss of company knowledge and experience, losing top performers can harm a company’s bottom line. This highlights the importance of having a proactive and well-developed staff retention strategy.”

“While individual workers have the right to pursue other career options, IT businesses may take efforts to prevent employee turnover by listening to and responding to their employees’ problems before they develop.”

“Effective retention methods include regular wage benchmarking, difficult projects, and career advancement possibilities, as well as employee appreciation.”

Robert Half Australia created the yearly study, which was then carried out by a third-party research firm. The findings of 160 interviews with CIOs/CTOs from organizations across Australia have been divided into three categories: firm size, sector, and location.

You’re probably already aware of the fundamentals of online security. However, as data breaches grow more regular, it’s critical to take advantage of modern security methods to help protect your personal information and keep you secure. When it comes to protecting oneself online and on your mobile device, many levels of protection might be more effective than one, so have a look at these more advanced tactics.

Use of biometrics

Biometrics has grown more prevalent in recent years in our daily lives. Smartphones now feature fingerprint scanners and facial recognition software, and smart speakers with speech recognition software are commonplace in many homes. Biometrics, unlike textual passwords, are unique to you by nature: a fingerprint, for example, is impossible to reproduce.

Biometrics (also known as “heuristics” or “behavioral biometrics”) may even track how you interact with your gadgets. This next-generation technology may be used in a variety of ways, including device usage, error patterns, and signature analysis. If given the possibility, it may be a good idea to use biometric technology instead of a written password to increase security. According to their device, clients of Bank of America, for example, may be able to use their fingerprint or Face ID to sign in to the Mobile Banking app.

Two-step verification

You must provide not just your login and password, but also another piece of information, such as a PIN or a one-time, time-sensitive code given to your cell phone through text message, to use two-step verification. Two-factor authentication is now available on a growing number of websites, applications, and webmail programs, and it’s a good idea to use it if you want that extra layer of protection.

More complex passwords

A strong, unique password is your first line of protection as identity theft continues to rise. Make your passwords more complicated by combining numbers, uppercase and lowercase characters, and symbols. Examples of other recommended practices are:

• In your browser, don’t save your password. You might be susceptible if you save it there or in your computer’s password management system.
• Passwords should not be shared. Even for your online streaming media account, this applies to coworkers, friends, and family.
• Choose distinct passwords for each site you enter into, such as a bank account and an e-commerce site, for example.
• Password-protected sites should be logged out. When you’re finished, close the browser.

Because remembering complicated passwords may be difficult, you might want to use an online password manager to save all of your passwords in one place, accessible only through a master password. Password manager websites, like any other, can be hacked, just like any other website. Choose a well-reviewed password manager, update your master password frequently, and keep an eye on security breaches that have been disclosed if you go this way.

Experiences that are safe to browse

Make sure the site you’re sharing your personal or financial information on is safe before you do it. Although more websites are employing HTTPS encryption, sites that don’t have the “S” in HTTPS aren’t secured and can be accessed by others.

Router hardening

Attacks against home routers are becoming more common, with some high-profile breaches in recent years as hackers discovered a new way to access your personal information. Routers are used by hackers to get access to other devices or information stored on the network. Malware that can be used in other attacks can also be hosted on hacked routers. Make sure the router’s administrator password is complex and unique, and update the firmware regularly to ensure any flaws are fixed.

Keep up with the latest cybersecurity trends while also practicing basic computer and mobile security. Personal information and cash might be kept safe and secure if you put in the effort.

The number of risks to information security has increased significantly over the last decade. IT workers must negotiate an increasingly difficult playing field as they struggle to keep up with the current difficulties in safeguarding their environments.

There has been a change in nomenclature, which has added to the uncertainty. These days, it’s not unusual for people to use the terms “worm” and “trojan” equally.

What Qualifies as a Security Threat to a System?

A system information security threat, in the broadest definition, is a harmful occurrence or action aimed at disrupting the integrity of a company’s or individual’s computer systems. The goal is to put data at risk to profit from it.

Two key sorts of data are in jeopardy. The first is personal information, such as credit card numbers, passwords, or lists of contacts. The other is information about your Internet browsing patterns, which may be of interest to advertising.

Top 10 Security Threats

As an IT expert, what are the specific security concerns that you should be aware of? To keep yourself and your clients secure from hackers and viruses, here’s a list of the top ten security threats you should be aware of.

1. Escalation of Privileges

When an attacker uses a system’s flaws to obtain access to unlawful activities and data, this is known as privilege escalation.

In certain circumstances, an attacker will begin with restricted access to the system and hunt for methods to expand their capabilities. To get beyond security, they seek for faults and holes in the program or utilize unethical techniques.

Unsafe and unneeded access to many or all users may have previously been provided by a system in prior instances. Those searching for sensitive information don’t have to go to great lengths to get past the most basic security safeguards. When it comes to accessing information or processes within a system, it’s a good rule of thumb to avoid it if you don’t need it.

• Horizontal Privilege Escalation happened when someone misappropriates an account that belongs to someone else.
• Vertical Privilege Escalation utilizes a compromised account, such as a normal user account, and then gains further authority, such as that of an administrator.

2. Virus

Many security risks based on technology have been referred to as “viruses.” A virus is a computer program that, like a medical virus, may proliferate and infect other computers in the same way as a medical virus can. Viruses can be spread over networks, USB drives, and other portable media.

3. Worm

A worm is a virus of a particular sort. Its purpose, unlike a regular virus, is to reproduce system files so many times that it consumes hard drive space or memory. Computers that have been infected with worms will slow down or crash.

4. Trojan

Trojan horses, often known as Trojans, are programs that appear to be regular, secure software, but whose purpose is to allow a hacker to get remote access to your computer from a hacker’s computer. As a result, a denial-of-service attack can be launched against the infected machine, resulting in data theft.

A keyboard logger, which may be used to steal passwords, credit card numbers, and other personal data, is a particularly dangerous Trojan.

5. Spyware

Software downloads are the most common way for spyware to infiltrate PCs. Downloads of shareware and freeware, as well as peer-to-peer file sharing, are all common sources of infection. Spyware, like Trojans, may steal important data, but it’s also a popular advertising technique. The goal is to acquire information about a user’s online activities and provide it to an attacker.

6. Spam

Spam is seen by some as a hassle rather than a danger. The CAN-SPAM Act, for example, has been implemented to assist tackle the problem, thus this viewpoint may not be shared by many others. Unsolicited junk mail is what it’s called. It comes in the shape of advertising and, in addition to being a waste of time, it has the potential to eat up network bandwidth.

7. Adware

It is similar to spyware in that it is used to track a user’s internet surfing behavior, and adware is short for “advertising-supported software.” The goal of Adware, on the other hand, is to figure out what kind of adverts a user is most likely to see or interact with. To make cash for the individual or organization that designed it, it automatically creates targeted adverts. Because it observes, records, and utilizes your internet behavior for commercial reasons, it is usually targeted at individuals rather than businesses and is frequently unwelcome.

8. Rootkits

Because they are designed to hide their appearance from the owner of the computer or system, rootkits are among the most difficult to detect. A remote, unauthorized person can get administrative access to your system by activating them as it boots up before anti-virus software is begun. The installation of files and accounts for the aim of intercepting sensitive information is possible with rootkits.

9. Botnets

A botnet is a collection of computers that have been synchronized to perform a certain task. Although a botnet isn’t necessarily a terrible thing, it may also be exploited for nefarious purposes, giving it another significant hazard to be aware of when it comes to information security.

You might be a victim of a terrible botnet in many different ways. The first is when software scans the internet for security flaws and automatically enters them. In the second case, you can download apps that include a Trojan horse, which connects your computer, smartphone, or other devices to the botnet’s network.

Once under control, the bot may spam and perform denial-of-service assaults by launching an IRC (Internet Relay Chat) client and joining a chat room. It may also be used to produce pop-ups warning you of a problem and requesting you to pay to have it fixed, as well as to create false traffic on other websites to make money.

10. Logic Bomb

To keep referring to logic bombs, you may have heard the term “slag code.” They are little pieces of code that are introduced to software to trigger a certain action. Logic bombs are similar to viruses in that they can cause data to be corrupted and files to be deleted.

How to Protect Yourself from These Threats?

The list of threats to system information security is broad and expanding. To address the problem, a defensive plan that includes anti-virus software, system patching, and software upgrades regularly is essential. Understanding the distinctions between these dangers is the first step toward eradicating them for both system administrators and end-users.

It’s also a good idea for an IT expert to stay up with their education and qualifications. Take a course to brush up on your understanding of security threats, enhance your profession, or simply learn more about how to keep secure on the internet as a person or a business.

By taking a course or gaining a certification, users may gain hands-on experience, study at their speed, and keep up with current trends and dangers. With these best cyber security courses, you can learn more about how to safeguard your company from information security threats.

People have been brought down to earth by technology, and as a result, there is a great desire among people to use technology. In our technological society, we are all surrounded and empowered. The need for IT workers has increased as technology has advanced in the industry. Several specialized sectors demand distinct types of training and encouragement. As a result, numerous approved technical certification courses have been established for this procedure. In every industry where a professional must logically use technical knowledge, a higher approach is required.

We need certainly incite ourselves for more enticing thoughts if we want to anticipate future technology advancements. Technical certification is essential in 2022 since it is a period of growth and new chances and platforms are being presented. The following are a few of the reasons:

• Knowledge of a specific topic of study
• Learning is evident.
• Distinguish yourself from your peers
• Satisfying to oneself

Certifications are, above all, the most direct path to success. You have a better chance to get a job if you’re certified in a particular IT profession. The Department of Information Technology is searching for highly qualified IT experts who are well-versed in their fields of expertise.

What is the significance of becoming a certified specialist?

Having a useful certification in a specialized field, for example, has many benefits. In technical words, the first benefit of certification is that it gives you a sense of authority in the company. The certification serves as proof of your knowledge and expertise in the field of expertise that you are a specialist in. In a particular IT industry, specifications verify your specialized skills. Because of this, getting a technical certification is important.

The second reason is the marketability aspect, which determines how much your abilities are worth in the market. When it comes to advancing your career, some qualifications are necessary for certain sectors. The certification might help you stand out among potential employers by proving your IT abilities.

The third reason is that effective technical certification may help you grow as a person and as a professional. It may provide you with an opportunity to gain a road to success, and this growth may also be beneficial to you personally. It might help you improve your existing talents while also introducing you to new areas of knowledge.

Credibility, marketability, and personal and professional growth are just a few of the reasons why certification is so important in the IT industry. In terms of benefits, two main factors influence the decision to pursue an IT certification:

• Where are you now?
• Where do you want to go next?

You must get up from your desk if you are working on a small platform and want to pursue other top IT jobs. Only via suitable certification courses will this be achievable. They have proven to be quite beneficial to us and provide us with some compelling reasons to expand our market share.

Top reasons that are essential for getting certified as an IT professional in 2022

You will benefit from the certificates by:

Improve your brand and yourself in a specific field

In a variety of specialized fields of information technology, certification courses play an important role. There are some reasons why you would choose to get certified on your own. One of them is your personal and commercial growth in the specialist sector of technology. These credentials are quite beneficial in terms of enhancing your technical talents as well as providing better customer service. Learning new skills and obtaining a legitimate certification is a terrific way to grow as a person. If you get certified this year, you’ll be able to improve your learning and your business in a more efficient manner. You can simply take your small business to the next level while simultaneously improving your technological abilities.

Become a part of the business

One of the main reasons for getting certified this year is that the certificates are a great method to acquire a job in the industry. If you want to work in a technical field, you should get your certification before you start working. A certification in any specific sector of information technology is a perfect method to advance your knowledge and validate your abilities. You will not be accepted as an employee in any industry unless you have a high level of certification. A combination of abilities and certifications is the most effective way to get entry into any technically specialized field. Before entering any sector and reaping its rewards, you may also obtain proper certification and expertise.

Fill in the gaps in your technical knowledge

When it comes to the IT industry, you should fill up the gaps in your expertise. IT certifications can help you succeed. We don’t always have time to focus on all of the technical aspects, but the certification courses allow us to cover them all comprehensively. Certification courses in Information Technology are a tremendous advantage for us, regardless of what subject you are deficient in. We need to get technically certified in 2022 for a variety of reasons. This year, as well as in the next years, you will be able to benefit from it. These technical certification courses may be able to fill in any gaps that you may have. They would help you grow and improve your technical abilities regularly.

Build up your confidence

When it comes to another reason for having a technical certification in 2022, we can mention that gaining confidence is a major one. Confidence is more important than anything else in any career. Only when you have a better level of self-assurance can you exhibit your skills. As a result, the technical certification will provide you with a boost of confidence. These credentials are huge accomplishments that will help you elevate your self-assurance to a whole new level. We need the confidence to express our unique ideas in the technical sphere, which deals with important difficulties that arise daily. It’s not just that this certification will help us this year, but it’ll also help us in the future. We’d be able to reap the rewards for a long time in our jobs.

Look for a variety of job openings

Another major benefit of taking technical certification courses is that they provide you with a variety of possibilities for getting hired. If one has a certification as an IT professional, he or she can work in a variety of technological sectors. Getting a career in any of the IT sectors is a fantastic opportunity; one can earn a lot of money, learn a lot, and have a wonderful time doing it. As a result, if you haven’t yet been certified, go for it since it’s a good idea. As we look ahead to future technology, it is critical that we get approved this year, in 2022. We will need these qualifications in a variety of different ways in the next years.

Become a trustworthy employee

In the specific IT field, technical certification refers to legitimate documents. It’s an issue of preparing a growing number of future IT workers. The fact that the world is becoming increasingly digital in all aspects is something that we are all well aware of. Certifications are vital and useful whether we are searching for long-term software, cyber terms, or any other technicalities. It will be highly beneficial to us and our career if we get certified this year. We will be able to attain the advantages of it not just this year, but for a long time to come. We can claim it’s trustworthy because there aren’t any flaws in it. Instead, it merely provides billions of dollars in positive advantages.

What are the benefits? This is a question that many of us are thinking about. When we become certified as soon as feasible, it would be useful. It improves and invigorates our abilities in a cohesive manner. They’re a terrific method to get a career in a technical industry without having to leave your day job.

Preparing your credentials can help you justify your expenses

Yes, these certifications are necessary as proof that you are capable of dealing with your clients. Any employer will not hire you until you are certified. They won’t even look at your qualifications, but if you have a genuine certification, you have a 99% probability of being chosen. It has been discovered that those who operate in the technology industry have genuine credentials in their fields of expertise. This boosts their self-assurance and allows them to manage their expenses. You can demonstrate your abilities to your consumers if you are well-qualified in a specific subject.

Get self-satisfaction

Working in fields that aren’t very attractive might give you a sense of self-satisfaction that you don’t get from certifications. Once you’ve honed your skills in a certain subject, you’ll be able to see how far you can go. Working in any profession requires self-satisfaction, and the IT business is a place where you may learn new skills, have fun, and have a lot of opportunities.

Have a fun

Yes, technical certifications have always been a lot of fun. You have no idea how? Workload, overtime, and a tight schedule appear to be more stressful than enjoyable. Here are a few facts regarding the tech qualifications that may convince you that it’s a good idea to go for it.

It’s a great method to have a good time because it gives us a lot of different ways to learn about how technology has evolved. In addition, we may learn about the various advantages that technology has to offer, both now and in the future. The tech certifications allow us to have a thorough understanding of our technology, which can be a lot of fun. They are accessible in a variety of courses that are both short-term and long-term. It’s only natural that we’d consider basic success to be enjoyable if we acquire so many rewards.