Welcome to Indenture

Employers who recruit a lot of recent grads are luring them with a new perk: student loan repayment.

Bloomberg reports that investment and consulting firms like Nataxis and   PricewaterhouseCoopers will pony up as much as $250 a month toward a candidate's college debt.

McKinsey, Bain Capital and Accenture will also pay down employees' student debt, according to The Wall Street Journal.

If you're willing to provide seed money, we can jump on the bandwagon and start up our own firm to compete with Accenture.

Indenture.

A pillar of colonial America, indenture (a version of "enforced servitude") underwrote the tobacco economy in the Chesapeake region.

Under the system, an Englishman who sought a clean start in America signed a contract that promised he'd repay his master for ship fare, clothing, and room and board by laboring for seven years. 

Women also signed the contracts.

The word indenture refers to an indentation made on each contract. When it was drawn, two copies were made. One copy was then placed over the other and an edge indented.

As a result, master and servant could always spot whether a copy might be forged (often the end-date would be changed by one or the other party.)

On a serious note: Burdensome debt is no laughing matter. It drives in part the popularity of Bernie Sanders among Millennials. As one Boomer told a group of college students, “Your generation’s debt is our generation’s draft."

Fancy Pants

The term fancy pants first appeared in 1843 in an ad in The Bangor Daily Whig & Courier. 

In a time when most pants were coarse, the soft twill trousers advertised for sale by auction house Williams & Prince were, indeed, fancy.

Style manuals discourage writers from putting on fancy pants. Never use a fancy word, when a plain one will do.

But, as pscyho-linguist Steven Pinker says in The Sense of Style, the rule is overstated: 

"It's certainly true that a lot of turgid prose is stuffed with polysyllabic Latinisms and flabby adjectives. And showing off with fancy words you barely understand can make you look pompous and occasionally ridiculous. 

"But a skilled writer can enliven and sometimes electrify her prose with the judicious insertion of a surprising word. According to studies of writing quality, a varied vocabulary and the use of unusual words are two of the features that distinguish sprightly prose from mush."

In a 1739 letter, Voltaire offered similar advice to the 24-year old writer Helvétius:

"Beware, lest in attempting the grand, you overshoot the mark and fall into the grandiose: only employ true similes: and be sure always to use exactly the right word."

What's the Most Revealing Interview Question Employers Could Ask?

What's the most revealing interview question employers could ask—the one that would guarantee they hire the best talent available every time? The killer question you should ask every job seeker.

With apologies to the management gurus, it's none of these:

• Why will you thrive in this position?
• What's your greatest weakness?
• Who's your role model?
• What did your parents do for a living?
• What things do you dislike doing?
• Why are manhole covers round?
• Why did you leave your last job?
• What's your spirit animal?
• What's the most significant thing you've done since breakfast?
• What would you like to ask me?

I learned the killer interview question not from an HR manual, but a former boss; and it worked like a charm.

Adman Bill Kircher, founder of Fixation Marketing, posed the killer question at the close of every candidate interview he conducted. 

With it, he built an exceptionally creative, productive and tight-knit team; one that attracted loyal and prestigious clients, enjoyed a reputation for high quality, and earned handsome profits.

His killer interview question: What book are you reading right now?

What makes the question killer?

It's simple. Candidates didn't have to ask Bill for clarification.

It's tricky. The qualifier "right now" essentially disqualified as honest answers To Kill a Mockingbird, Of Mice and Men, Lord of the Flies, and other sophomore-year reading assignments.

It's decisive. Hesitation, blank stares, or answers like "I mostly watch TV" eliminated candidates from consideration.

It's nondiscriminatory. Any title sufficed as a correct answer. Bill didn't care what you read, as long as it was sandwiched between two boards. After all, John F. Kennedy loved From Russia with Love. Ronald Reagan raved at a news conference about The Hunt for Red October. And friends spotted James Joyce in a cafe once reading Gentlemen Prefer Blondes.

Reading books proved to Bill's thinking a job candidate was curious, diligent, self-caring and culturally engaged.

And his results proved he was spot on.

Bread and Circuses

Will games become the new social divide?

TIME reports this week that 70 percent of big companies will embrace gamification in 2013.

While most will use gamification to attract customers, many companies—40 percent, according to new research from Gartner—will embrace it as an employee-retention tool.

Endorsing the latter, 20-something gamifier Katherine Heisler recently urged readers of Forbes to gamify the jobs of next-gen workers.

Citing a new workplace survey by MTV, Heisler argues that "Millenials overwhelmingly agree that their jobs should reflect their lifestyle."

The workplace, in short, should be "social and fun."

"Some people think of my generation as lazy, good-for-nothing slackers, feeling entitled to everything and entirely lacking a work ethic," Heisler writes. 

"But that’s wrong: Millennials have an incredible work ethic. We want to work, we want to succeed and want to reshape the world in our image. We are simply motivated in non-traditional ways."

When I was young and struggling alongside my fellow Boomers for a handhold on the slippery corporate ladder, money was a pretty good motivator.

But—excluding those at the very top of the ladder—money's in short supply today.

Will employers compensate for today's measly paychecks with "social and fun?"

Will circuses take the place of bread?

Tip #5 for Getting Money

Use the Best Tools
Part 5 of of a 5-part series on the Golden Rules for Making Money, as set forth in P.T. Barnum's 1880 guidebook Art of Getting Money

The "tools" P.T. Barnum means are the ones who leave each night in the elevator.

"You cannot have too good tools to work with, and there is no tool you should be so particular about as living tools," he writes.

Which employees make the best tools?

The ones who are curious.

The curious employee is the best because "he learns something every day, and you are benefited by the experience he acquires," Barnum says.
"He is worth more to you this year than last, and he is the last man you should part with."