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Canadian finances 101: What you should know as a newcomer
Canada’s financial ecosystem is made up of banks, credit unions, trusts, and other financial and insurance companies and it is considered to be one of the most sound and safest in the world. According to the Global Competitiveness Report 2019, published by the World Economic Forum, Canada ranked 9th globally for its financial system, showcasing stability and reliability. As you plan your move, familiarizing yourself with the Canadian banking and financial landscape can help provide context to key tasks like opening bank accounts, building credit history, borrowing money, and filing taxes. In this article: Types of financial institutions in Canada Getting started with taxes: The Canada Revenue Agency (CRA) Canada: A credit-based economy Banking, investments, and money transfers What are the types of financial institutions in Canada? Financial institutions in Canada can be classified into three main categories: 1. Banking institutions These are places where you can deposit, withdraw and borrow money. Examples of such institutions include banks, online-only banks, credit unions, trust companies, mortgage companies, etc. Banks A bank is licensed to receive deposits and make loans. Most banks are managed by the national government. The five largest banks in Canada are often referred to as the “big five” in banking. They are: Royal Bank of Canada (RBC), Toronto-Dominion Bank (TD), Bank of Nova Scotia (Scotiabank), Bank of Montreal (BMO), and Canadian Imperial Bank of Commerce (CIBC). Sometimes, you may hear the term “big six,” including the National Bank of Canada – although, note that its operations are primarily focused in the provinces of Quebec and New Brunswick. Digital-only banks In addition to these banks, there are a few digital-only banks, such as Tangerine (a subsidiary of Scotiabank), Simplii Financial (a subsidiary of CIBC), and EQ Bank. They provide all services online only and do not have any physical branches. Credit unions A credit union is a smaller financial institution that is owned by its members, who are also typically account holders. They operate under provincial legislation and regulations and provide similar services as banks. The main difference between a credit union and a bank is their structure; credit unions are owned by anyone with money in the credit union. The operations are supervised by a democratically elected board of directors made up of local community members. Due to their scale of operations, note that credit unions may have fewer branches and ATMs than a big bank would. Tip: As a newcomer to Canada, you can choose any financial institution of your choice. However, it is helpful to know that the big five banks (like RBC) have newcomer banking packages that specifically cater to permanent residents and international students and are thus better positioned to assist you in your unique situation. Trust companies Trust companies are legal entities similar to banks that act as an agent (on behalf of a person or business) for the purpose of administration, management and the eventual transfer of assets to a party. Mortgage companies Money lending entities such as mortgage finance companies (MFCs) and mortgage investment corporations (MICs) provide real estate financing. MFCs are non-depository financial institutions that underwrite and administer mortgages sourced through brokers. Their lending is funded mainly through securitization or direct sales to third parties, primarily the big six banks. MICs and other private investors typically deal in uninsured, customized mortgage products that are not available through traditional channels. These products include non-prime loans, second mortgages and very short-term mortgages. Key financial authority: The Bank of Canada The Bank of Canada is the nation’s central bank. Its principal role is to promote the economic and financial welfare of Canada. The Bank influences the supply of money circulating in the economy, using its monetary policy framework to keep inflation low and stable. It promotes safe, sound and efficient financial systems, within Canada and internationally, and conducts transactions in financial markets in support of these objectives. Additionally, the Bank of Canada also designs, issues and distributes Canada’s bank notes and acts as the “fiscal agent” for the government of Canada, managing its public debt programs and foreign exchange reserves. It also sets the interest rates in Canada. 2. Insurance companies These are entities that sell insurance to cover the risk of loss in various situations, caused due to a variety of factors. They include homeowner or renter’s insurance, health insurance, car insurance, life insurance, and more. They compensate you for any loss that’s covered by your insurance policy. Once you purchase a specific type of insurance, you are required to make periodic payments, called premiums, to the insurance company to avail of the agreed-upon coverage. 3. Investment companies These are organizations that focus on investing, administering or managing funds or money on behalf of other persons. Examples of such companies are investment banks, hedge funds, underwriters, and brokerage firms. Note: There might be an overlap in the services provided by financial institutions. For instance, a leading bank like RBC offers banking services, mortgages, a wide variety of insurance options, investment solutions, and more. Tip: Beware of predatory lenders offering payday, instalment, and other types of loans with very high interest rates. These lenders often prey upon people who need cash quickly and who have run out of all other options. They usually have exorbitant interest rates, confusing and misleading representations, and a lack of transparency and documentation. Therefore, always double-check money lending claims that seem too good to be true. Note that payday loans are provincially regulated while instalment loans are unregulated. What this means is – while interest rates cannot exceed 60 per cent, lenders are effectively free to change terms and add fees and other charges almost at will. Getting started with taxes: The Canada Revenue Agency (CRA) The CRA administers tax laws for the Government of Canada and for most provinces and territories. It administers various social and economic benefit and incentive programs delivered through the tax system. The CRA website is the go-to place for everything related to your taxes: filing annual tax returns, checking receipt of Government benefits and subsidies, viewing tax documents, etc. Important: To register for CRA’s “My Account,” you must have filed a tax return for the current or a previous year. Download Arrive’s free tax guide for newcomers for insights on how to file your taxes and to make sure you’re prepared to manage the expectations that come with paying taxes in Canada. Note: Beware of a long-running CRA scam with callers posing as representatives of the CRA. The CRA will never use threatening language nor ask for information about your passport, health card, driver’s license, or demand immediate payment by Interac e-transfer, bitcoin, prepaid credit cards or gift cards from retailers such as iTunes, Amazon. Canada: A credit-based economy North American countries such as the U.S. and Canada are known to be credit-based economies. This essentially means that most people use their credit cards (instead of debit cards or using cash) to make purchases and then repay the entire amount owed either at the end of their credit card billing cycle or in installments. You will need to build your own credit history, since this is essential to many aspects of life in Canada. Once you receive your first credit card, start by making payments for small expenses such as phone bills or groceries, and be sure you pay the balance in full by the end of the billing cycle. Tip: Keep in mind that credit cards have limits and do not offer free money. They can carry very high-interest rates, so your balance should be managed and paid down promptly – this will help you maintain a good credit rating. A credit score is a way for financial institutions to measure your ability to repay loans. Some scenarios where you may be asked for a credit report are while renting accommodation, applying to certain jobs, and obtaining mortgages or other loans from the bank. Additional resources Download Arrive’s free Credit guide to learn more about credit cards, credit scores, and credit ratings in Canada. For tips on staying debt-free and building your credit history in Canada, read How to build a good credit score from scratch as a newcomer. Banking, investments, and money transfers in Canada Banking Like many other countries, in Canada, you can conduct all your banking and money transfer transactions by walking into a branch or online, through internet banking. See How to open a bank account in Canada as a newcomer to know the process of opening a newcomer account. The article will also provide tips and resources to help you learn more about credit and direct deposits. Investments There are many financial products available to save and invest your money in Canada. They can be broadly classified into savings accounts, registered savings plans and investment products. Depending on your goals and your appetite for risk, you can choose one or a combination of several of these. Read Savings and investments for newcomers in Canada for deeper insights into all available investment products. Money transfers For domestic peer-to-peer payments (think: sending money to a friend, relative, co-worker, or acquaintance in Canada), there are a couple of ways to send and receive money online: Interac and Paypal. Interac is a bank-based tool, while Paypal is a non-bank, third party service. Among these, Interac e-transfers are the most popular and widely used form of peer-to-peer payments in Canada. You can send money overseas through online or mobile banking, by telephone, by email, or in-person. Banks like RBC have a simplified, affordable, and convenient process for international money transfer through online banking. If you have the recipient’s banking information handy, all it takes is a few clicks! Some popular options for international remittances are: Banks Credit unions Money transfer operators like Western Union, MoneyGram, WorldRemit, etc. Peer-to-peer transfer providers such as Transferwise (now, Wise), CurrencyFair, Paypal, etc. Currency exchange businesses When sending money overseas, the Canadian federal government tracks large sums (over $10,000 CAD) through Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) to prevent money-laundering, terrorism funding, and related crimes. Understanding financial products and regulatory agencies in Canada can make you feel overwhelmed. Start with the basics so you can build awareness and a strong foundation to manage your finances in Canada. Original article located here, published by Arrive.
How to build a good credit score from scratch as a newcomer in Canada
Having a credit rating or a credit score is essential for life in Canada. A good credit score can ensure you qualify for better interest rates on mortgages and other loans down the line. To get started with building your credit history, having and using a credit card is essential. In this article, we will outline what a credit score is, share valuable tips to help you build a good credit history as a newcomer in Canada, and provide information on how to check your credit score and order a credit report. What is a credit score? When you borrow money from a bank (or lender), certain information is shared with a credit bureau. Over time, additional information, such as whether you’ve paid your bills on time, whether you’ve missed payments, and how much debt you have outstanding, will get shared with the credit bureau. These factors go into calculating your credit score – a three-digit number that indicates to lenders your capacity to repay a loan – as reported on your credit rating report. Credit scores range from – 300: The lowest score or the starting point; to 750: The magic middle number, which will likely qualify you for a standard loan; all the way up to 900: The highest score awarded for excellent credit history. The higher your score, the lower the risk is to the bank, and vice versa. A score under 750 will likely make it more difficult to acquire loans or credit cards – you may receive a lower credit limit and get charged higher interest rates. For newcomers to Canada, however, most banks offer a credit card when you open a newcomer account with them – this usually suffices to get you started on your journey of building a good credit history in Canada. Learn more about credit scores in Canada See Credit in Canada: What every newcomer needs to know for information on the different types of credit in Canada. Get insights on the factors that affect your credit score, understand why building a good credit history is important, and dive into how a credit score is calculated. Who can see and use your credit report? Credit bureaus follow rules that define who can see your credit report and how they can use it. Those allowed to see your credit report include: banks, credit unions and other financial institutions, credit card companies, car leasing companies, retailers, mobile phone companies, insurance companies, governments, employers, and landlords. These businesses or individuals use your credit report to help them inform lending decisions about you. Generally, you need to give permission or your consent, for a business or individual to access your credit report. In the provinces of Nova Scotia, Prince Edward Island and Saskatchewan, a business or an individual only needs to tell you (verbally) that they are checking your credit report. Other provinces require they obtain your written consent to check your credit report. Some provincial laws allow government representatives such as judges and the police to see parts of your credit report without your consent. 5 tips to build a good credit score 1. Make payments on time and pay off your balance in full each month When lenders review your credit report and request to see your credit score, they want to know how reliable you are with paying your bills – because usually, past payment performance is considered a good predictor of future performance. To build a good credit history, it’s important to make all your payments on time. While your credit card bill will always indicate the minimum amount owed, as someone just getting started with building credit in Canada, it’s best to pay off the balance in full each billing cycle. Paying the entire balance each month also helps you avoid racking up credit card debt. 2. Use credit wisely Always stay within your credit limit. If you have a credit card with a $2,000 CAD limit, try to not go over that limit. You should spend only what you can afford to pay back. Spending more than the authorized amount on a credit card can lower your credit score. As a rule of thumb, try to use less than 35 per cent of your total credit in each billing cycle. This includes all your credit products such as: line of credit, credit card from Canadian banks/lenders, loans, etc. For example, if you have a credit card with a $2,000 CAD limit and a $5,000 CAD line of credit from a bank, you should limit your total spending to approximately $2,450 CAD (35 per cent of 7,000) or less, while also maintaining the 35 per cent rule (in this case, $700 CAD) specifically for your credit card. Tip: Start small – use your credit card for groceries, monthly utility payments, phone bills, etc. Over time, this will help you build a strong credit history. If you max out your credit limit each month, lenders perceive you to be a greater risk. This holds true even if you pay your balance in full by the due date. 3. Limit your number of credit applications and/or credit checks As you settle in Canada, it is normal and expected that you’ll apply for credit from time to time. A lender or other organization offering credit-based products may ask to “check your credit” or “pull your report”. When they do so, they are asking to access your credit report at the credit bureau. This results in an inquiry in your credit report. Tip: To build a good credit history faster, it is recommended that newcomers to Canada start off with a single credit card (avoid holding multiple credit cards) and keep paying the balance in full. There are two types of credit checks: hard hits and soft hits. Hard hits: These are credit checks that will appear in your credit report and can impact your credit score. Anyone who views your credit report will see these inquiries. Examples include an application for a credit card or mortgage, some rental applications, and some employment applications. If there are too many (hard) credit checks in your credit report, lenders may think that you’re urgently seeking credit and/or trying to live beyond your means. Soft hits: These are credit checks that appear in your credit report but only you can see them. These checks do not affect your credit score in any way. Examples include requesting your own credit report or businesses asking for your credit score to update their records about an existing account you have with them. To control the number of credit checks in your report: Limit the number of times you apply for credit; When shopping around for a car or a mortgage, get your quotes from different lenders within a two-week period. Your inquiries will be combined and treated as a single inquiry for your credit score; Apply for credit only when you really need it. 4. Report any inaccuracies on your credit report Once you get your report, check for: Errors in credit card and loan accounts, such as a payment you made on time that is shown as late – this could impact your credit score negatively; Mistakes in your personal information, such as a wrong mailing address or incorrect date of birth; Accounts listed that you never opened, which could be a sign of identity theft; Negative information about your accounts that is still listed after the maximum number of years it’s allowed to stay on your report. Any inconsistencies or incidents of fraud should be reported to the respective credit bureaus without any delay and get it corrected. Monitoring your credit on a regular basis can help you spot inaccuracies before they impact your credit rating. Note: A credit bureau can’t change accurate information related to a credit account on your report. For example, if you missed payments on a credit card, paying the debt in full or closing the account won’t remove the negative history. 5. Use different types of credit: card, loan, line of credit The number of credit products you have (such as a credit card, line of credit, loans, etc.) affects your credit score. For newcomers to Canada, it is recommended to start off with a single credit card and gradually apply for other credit products at a later stage. As you become more established in Canada, diversifying your credit and having a mix of credit products may improve your credit score. However, make sure you can pay back any money you borrow, otherwise, you could end up hurting your score by taking on too much debt. How to check your credit score It takes at least a few weeks to a month for newcomers to receive their first Canadian credit card and a few additional months of credit transactions to generate a credit history. You can check your credit score in the following ways: 1. Through credit bureaus: EQUIFAX and TransUnion are the two major credit rating organizations in Canada, and you can choose either one to get your credit report. Detailed instructions to obtain the report are available on the respective websites. Your credit score on each credit bureau may slightly differ as each organization may consider different factors while calculating your credit score. Equifax refers to your credit report as “credit file disclosure” while TransUnion refers to it as “consumer disclosure”. Remember: Ordering your own credit report has no effect on your credit score. 2. Through select banks: If you have an account with the Royal Bank of Canada (RBC), you can view your credit score for free, anytime, through online banking. 3. Through third-party companies: Some companies offer to provide your credit score for free. Others may ask you to sign up for a paid service to see your score. Make sure you do your research before providing a company with your information. Carefully read the terms of use and privacy policy to know how your personal information will be used and stored. For example, find out if your information will be sold to a third party. This could result in you receiving unexpected offers for products and services. Beware of fraudsters who offer free credit scores in an attempt to get you to share your personal and financial information. Tips: Consider requesting your report from one bureau/company, then wait six months before you order from the other organization. By spacing out your requests, you may be able to detect problems sooner. Always check to see if a website is secured before providing any of your personal information. A secured website will start with “https” instead of “http.” How to order a credit report in Canada You can get a physical or a virtual copy of your credit report. A physical copy may take some time to be delivered to you while a virtual copy can be obtained immediately. You usually need to pay a fee when you order your credit score online from the two credit bureaus: TransUnion and Equifax. Tip: TransUnion allows you to order your credit report online once a month for free. Note: A free credit report is only available as a physical copy and cannot be ordered online; separate processes exist for both Equifax and TransUnion. You must place your order by phone, mail or fax. How long does information stay on your credit report? Positive information in your credit report stays indefinitely, from the time the report was created. Negative information (that affects your credit score) such as late payments or defaults generally stays on your credit report for six years. However, some information may remain for a shorter or longer period of time. Learn more about the timelines for specific cases on the Financial Consumer Agency of Canada website. Credit is essential to life in Canada and building a good credit history takes time, so, be patient. Being aware of factors that affect your credit rating can help you make better financial choices. Original article located here, published by Arrive.
Fat: why are we so confused about whether or not we should include it in our diet?
You’d be forgiven for being confused about whether or not you should eat fat. For a long time, people were told to stay well away from it entirely. But lately, fat seems to be back on the table – but only certain types of fat. With so many conflicting messages about which types of fat to eat, it’s no wonder many people are confused about whether or not they should it. Here are just a few reasons why the advice about fat is so confusing – and how much fat you should really eat. Some fat is essential in our diet as it gives us energy and helps us absorbs certain vitamins, including vitamin A, D and E. But there are many different types of fats and eating too much of certain types can be harmful to us. Unsaturated fats (also called monounsaturated or polyunsaturated) are known as “good” fats and are important for helping us lower cholesterol and keep our heart healthy. Unsaturated fats can be found in foods such as avocados, olive or peanut oils, and fish. But saturated fats can be bad for us when eaten in excess, and can raise cholesterol and increase risk of heart disease. Trans fats can also increase cholesterol levels. Foods that contain saturated and trans fats include butter, cheese, bacon, biscuits and fried foods. Fat is important Many health authorities worldwide agree fat is an important part of a healthy diet – but that we should only get so many calories daily from fats. The World Health Organization (WHO) recommends people get no more than 30% of their daily calories from fat – of which only 10% of daily calories should be from saturated fats, and less than 1% from trans fats. The UK’s recommendations are much the same, limiting saturated fats to only 10% of our daily calorie intake – around 30g per day for men (around 270 calories) and 20g for women (around 180 calories). But in Europe, health recommendations suggest fat should comprise between 20-35% of our total daily calories. There’s also no recommendations for how many calories should be from saturated or trans fats – just that these should be limited. In the US, people are only advised to limit saturated fat intake to less than 10% of daily calories. So while there seems to be agreement in how much fat people should eat, the slight variations in these recommendations – as well as variations in how much of certain types of fat we should eat – might explain the confusion over whether or not we should eat fat and how much of it we should eat. Misleading advice If all the different recommendations weren’t confusing enough, there’s also a lot of information out there that’s either too simplistic or incorrect. This makes the recommendations about eating fat all the more complicated. For example, the Joint British Societies (which publishes recommendations to help people reduce their risk of cardiovascular disease) recommends that only around 10% of a person’s total fat intake should come from saturated fats. As typically we consume 30-40% of our calories from fat, and international and government bodies recommend that around 30% of daily calories should come from fat, limiting saturated fats to 10% of this would mean they’d make up only 3% of our day’s calories. This would amount to little more than about 7g of saturated fat -– around two teaspoons of butter. This differs from many other recommendations – such as from WHO – which states 10% of all the calories people eat daily should come from saturated fats. It’s also unclear whether such a strict restriction of saturated fats would have any benefit and would be difficult for many people to achieve as a variety of healthy foods – such as olive oil – can also contain saturated fats. There’s also a lot of advice that’s too simplistic, which can be inadvertently misleading. For example, one tip the British Heart Foundation recommends for swapping saturated for unsaturated fats is to use a spray oil or measuring oils, instead of just pouring it straight from the bottle. But this doesn’t account for the fact that different types of oil have different saturated fat levels. Sunflower oil, for example, is already low in saturated fat, so using less would significantly reduce calories but only modestly reduce saturated fat levels. Other advice from the British Heart Foundation includes avoiding frying foods and switching to semi-skimmed milk. But focusing on methods that have a minimal effect on saturated fat levels can make it more confusing to know which foods (and fats) to avoid. The easiest way to avoid saturated fats is avoiding foods like pies, cakes and biscuits. These foods are high in saturated fats and tend to be the greatest sources of them in most peoples’ diets. Getting the right amount Research suggests that we should get around a third of our energy from fat – two-thirds of which should be unsaturated fats. Of course, certain food sources will contain different types of fats, and different levels of fats. For example, avocados and pies are both high in fat. But avocados are high in healthy monounsaturated fats, which are good for heart health and can lower cholesterol. Pies, on the other hand, are high in saturated fats, which can be bad for your heart and cholesterol levels. The easiest way to make sure you’re eating enough of the right fats is to avoid foods that contain saturated and trans fats – such as butter, hard cheeses, pies, biscuits, pastries, cakes, processed meats and crisps. These foods are also high in salt, carbohydrates and sugar, so can also have other health harms such as increasing risk of high blood pressure. Instead, try including sources of healthy fats – such as avocados, olive oil, nuts and fish. This will ensure that you’re not only getting enough fat in your diet, but that you’re getting the right kind of fats (around 75g a day for women and 90g for men).
Aston University cyber security experts shape government policy around resilience of supply chains
"Cyber security of any organisation, inclusive of its supply chain, should be promoted in conjunction with other organisational targets, such as profitability, productivity and financial/operational risk management" Professor Vladlena Benson, Aston University Researchers from Aston University’s Cyber Security Innovation (CSI) Research Centre have been invited to respond to the call for evidence by the Department for Culture, Media and Sport (DCMS) The centre works with businesses to help improve resilience to cyber attacks It comes after a series of high-profile attacks on managed service providers affecting thousands of firms and compromising government agencies. Experts from the Cyber Security Innovation (CSI) Research Centre at Aston University have responded to a call for evidence by the Department for Culture, Media and Sport (DCMS) on cyber security in supply chains and managed service providers. The CSI centre works with businesses to help improve their security posture and develops state-of-the-art solutions for supply chain resilience and business continuity. Recent research1 from the centre explored organisational approaches to supply chain management in the West Midlands, specifically in the times of remote arrangements and when traditional business continuity practices in supply chain management have been challenged. It comes as two high profile attacks (SolarWinds and Kesya) on managed service providers threatened the world and brought to a standstill credit card processing for major retail chains in Sweden, while US government officials' personal data was compromised. The €6.9m TRACE project, an EU-funded scheme of which Aston University is a key partner, addresses these issues and kicked off on Friday 9 July 2021. Professor Vladlena Benson, director of the CSI at Aston Business School, recently attended a round table by the Minister of Digital Infrastructure. She said: “Based on the conclusions of our research, we make a recommendation that cyber security of any organisation, inclusive of its supply chain, should be promoted in conjunction with other organisational targets, such as profitability, productivity and financial/operational risk management. “The identification and promotion of synergies between cyber security, profitability and productivity is a strong driver to ensure that, at a senior level, organisations take responsibility and accountability for effective cyber risk management. Dr Donato Masi, from the CSI Centre at Aston University, said: “Profitability or productivity are close to the competitive advantage of the firm and security of the supply chain of any organisation underpins its longevity on the market it operates in. “Investment in cyber security measures, including supply chain risk assessment and counter-threat controls, should be viewed as a ‘cost of doing business’ and business success and/or longevity.” 1Find out more about the research of the CSI Centre here
Social class has a significant role to play in career success in the United States. A growing body of research is shedding disquieting light on the extent to which working class Americans face discrimination in recruitment, pay and promotion – despite having a college degree. This demographic is up to four times less likely to get hired, 34% less likely to accede to leadership roles, and earns around 17% less on average than counterparts from middle or upper-class backgrounds. But while research is starting to document how class can impede or accelerate professional success, it remains unclear why these discrepancies exist. What are the mechanisms or dynamics at play that make it so much tougher for working class people to succeed than others? Goizueta Business School Assistant Professor of Organization & Management Andrea Dittmann has an interesting hypothesis. She believes that employees from different backgrounds can bring inherently different strengths and weaknesses to the workplace; advantages and disadvantages that speak to certain norms governing how we think about work and leadership. And it boils down, she says, to the way we work with others. “People from working-class backgrounds—those with blue-collar parents, who might be the first in their family to get a college degree—typically relate a certain way to other people. They are better connected to others, more team-like in their approach, than their middle-class counterparts who see themselves as more independent or unique,” says Dittmann. This team spirit could be working against lower-class employees, she says, in the sense that they see themselves or are perceived by bosses as being less adept at working autonomously or as individuals within organizations; and are therefore viewed by others as less poised to advance into roles of greater responsibility. On the flip side, this very capacity to work well with other people could actually give working class employees an advantage in team-based activities or cultures; an advantage that might translate into concrete benefits for organizations. To put this to the test, Dittmann conducted a series of studies aimed at unpacking how individuals perceive themselves within the context of work, and at the interactions that occur between employees and the workplace. Among these studies were qualitative interviews with MBA students from different social class backgrounds about their experiences navigating white-collar workplaces after graduating from college. She also ran a number of experiments to assess how well working-class people performed in teams and individually, and how environments that prioritize collaborative dynamics or interdependence might produce better experiences and outcomes for employees than environments geared to working individually or independently. A full article detailing Dittmann’s work is attached here and offers very compelling research showing how social class plays out in the workplace. It covers important aspects such as: The Catch-22 of Working Well with Others “It’s a kind of catch-22. Working class kids don’t make it into the gateway settings of school or college as much as middle-class kids in the U.S. They are significantly underrepresented in leading business schools like Goizueta, at roughly 15% of the student population,” she notes. “So, the higher-educational context—the talent pool for corporate America—is very much geared to a different social demographic and dynamic; one that inherently favors independent work ethics and approaches and sees them as the norm. Other ways of working, collaborating, and contributing risk are being undervalued as much as they are underrepresented.” When Considering Diversity, Companies Stand to Benefit “We know that companies that are more diverse perform better than others, and diversity needs to extend to social class. What my research and others are showing is that people from a working-class background tend towards behaviors that are more relational, that they are better at working together. If they fail to make it into the workforce in a more representative fashion, companies are basically missing out on opportunities to form better teams.” Faculty research like Dittmann’s is a critical element in Goizueta Business School’s drive to develop principled leaders who are better prepared to engage in the business of tomorrow. If you are interested in learning more, then let us help. Andrea G. Dittmann is an Assistant Professor of Organization & Management at the Goizueta Business School. She is an expert in the areas of diversity and inequality, particularly employees' social class backgrounds, aiming to promote equity and inclusion at work. Dr. Dittmann is available to speak with media about this research – simply click on her icon now to arrange an interview today.
Many of us think of ADHD (attention deficit hyperactivity disorder) as a childhood condition – which is typically when it’s diagnosed. But a growing number of people are sharing their experiences of being diagnosed with ADHD in adulthood. Social media has even played a role in this, with reports of people going to see their doctor after first learning about symptoms on TikTok. In fact, around 2.5% of adults are thought to live with ADHD – including us. Yet despite this growing awareness, many adults continue to struggle to get a diagnosis. ADHD is a genetic neurodevelopmental disorder, in which the brain grows differently, lacking action from specific chemicals involved in pleasure and reward. This means ADHD brains often search for ways to stimulate these chemicals, which is why people can experience inattentiveness, hyperactivity and impulsivity. Common traits of ADHD include: Not following through on longer tasks (or not starting them) Getting distracted by other tasks or thoughts Seeking out risk or activities that provide immediate reward Restlessness (either outwardly or internally) Interrupting other people (without wanting to) Symptoms are similar for both adults and children, although elements of them differ or change as we age. For example, inattention is the most persistent symptom in adults. ADHD can be debilitating and is associated with higher likelihood of lower quality of life, substance use issues, unemployment, accidental injuries, suicide and premature death. In addition, ADHD can cost adults around £18,000 per year because of things like medical care or paying for social support. It’s also commonly associated with a wide range of co-existing conditions in adults. For example, depression is almost three times more prevalent in adults with ADHD. And nearly half of all adults with ADHD also have bipolar spectrum disorder. Around 70% of adults with ADHD also experience emotional dysregulation, which can make it more difficult to control emotional responses. It’s also thought that almost all adults with ADHD have rejection sensitive dysphoria, a condition where perceived rejection or criticism can cause extreme emotional sensitivity or pain. On top of this, adults with ADHD may have poor working memory – such as being unable to remember a simple shopping list – and “time blindness” (the inability to perceive time). Some may also have oppositional defiant disorder, which means they often react poorly to perceived orders or rules. While none of these co-existing conditions are used to diagnose ADHD, they can make ADHD feel all the more difficult to live with. Being diagnosed Getting an ADHD diagnosis as an adult in the UK is notoriously difficult – with reports of some people waiting up to five years. Waiting for a diagnosis is common for adults with ADHD. Roman Kosolapov/ Shutterstock This is because you can only be diagnosed by a specialist psychiatrist. But even with a referral to a specialist, a person has to show clear evidence of almost all ADHD traits, having had these traits since childhood, and that they’re having a serious affect on their life – such as causing issues with work, education, or maintaining relationships. For us, our experiences of being diagnosed with ADHD aren’t all that different from what other adults have gone through. Like many people I (Alex) was only diagnosed with ADHD “by accident” after being referred to an NHS psychiatrist to get help with (what I now know to be) alcohol self-medication. Because of my ADHD, my brain demands quite extreme inputs most of the time. Ironically, I’ve published scientific papers on ADHD and – probably due to a classic ADHD lack of self-awareness – it didn’t cross my mind that I could have it. The “label” has since helped me move away from feeling broken toward an understanding of my behaviour. My main challenges remain prioritising tasks based on importance (instead of excitement) and quite extreme anti-authority behaviour (sometimes called oppositional defiance). I am also a terrible spectator, struggling to attend conference talks or sit still at the theatre – it can feel like physical pain. On the other hand, I (James) was diagnosed pretty quickly because I used a private clinic – though there was still a long wait for medication. Yet I’d known for five years before this that I probably had ADHD, but coped with it well until the pandemic. The added pressure of isolation and increased workload impacted my mental health, so I sought a diagnosis. Now diagnosed and medicated, life is getting easier to cope with – although there are still many challenges every day. I frequently get anxiety about the silliest things, like talking to a friend, but appearing on television is fine. On a daily basis I forget many simple things, such as where I left my keys, or that I am running a bath. I struggle immensely with controlling my emotions and with rejection especially. For example, when no one responded to a joke I made about my ADHD on a senior management messaging group I was tempted to quit my job. I am utterly unable to pay full attention in meetings or seminars and cannot control my impulse purchasing. While there’s a growing recognition of ADHD in adults, many people still live with it undiagnosed for any number of reasons – sometimes even because they’re unaware that what they experience is actually different from other people. Understanding the condition in adults, taking it more seriously as a disorder, raising awareness of it, and investing in services to improve diagnosis times are key. Diagnosis opens the door to treatment, which can have a marked impact on living with the disorder – such as improving self-esteem, productivity and quality of life. This article was co-written by Dr James Brown (Aston University) and Dr Alex Connor (University of Birmingham)
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Aston University cybersecurity experts hold key to vaccine passport rollout
Vaccine passports are certificates to establish proof of vaccination linked to the identity of the holder Renowned expert, Koji Fusa, visiting professor at the Cyber Security Innovation Research Centre (CSI), on the project to develop a global database for citizens to use in real-time. The CSI Centre at Aston University say creating a clear framework of rules for digital identities is achievable Leading cybersecurity industry expert, Koji Fusa, has made progress towards developing a framework for the world’s citizens to store their digital identities and access them in real-time. Koji is a Visiting Professor at the Cyber Security Innovation Research Centre (CSI) at Aston University. The idea would see a platform that has the capability to distribute over 200 individual keys to each of the world’s eight billion people. Each key could be assigned to personal information such as vaccine passports. It will work by vaccine administrators sending the vaccination details of each individual to a dedicated server. That server will issue a QR code which will be passed to the vaccinated person as the digital key for access. The passport holder will keep the QR code which enables access to the server to check their own record at any time. The framework would segment private data in a separate database, which can only be accessed with the individual key along with fingerprint, face and voice recognition technology, making it extremely hard for cyber attackers and scammers to hack. Koji Fusa, a visiting professor at the CSI Centre, said: “The current EU Green Pass initiative and World Health Organisation's initiative have struggled to find the solution for private data protection and counterfeit prevention. This proposed system would solve these two challenges. We have a solution that is secure, something that others have failed to achieve so far. “By having a cloud security server which gives unique reference numbers to all devices, technology issues pointed out by The Royal Society* have been solved. “This will be a huge step forwards for digital identification globally. Not only for vaccine passports, but for people’s personal information too. The framework would make everyday life more secure and simpler. Professor Vladlena Benson, an industry-recognised expert in cybersecurity risk management and director of CSI Centre at Aston Business School, said: “I am delighted to be working on this project with Koji Fusa. With his experience, I’m confident this could become the first such system where the authenticity of the vaccine certification instantly can be checked globally, something that can’t be done currently. "This work is aligned to the trusted identities framework proposed by the UK Government and addresses the issues of data sovereignty and individual information privacy."
Psychologists tackle childhood obesity by studying avid eating behaviour
• Psychologists at Aston University, Loughborough University, University College London and Kings College London to collaborate on childhood obesity study • £1-million project awarded by the Economic and Social Research Council • Three-year project to develop practical interventions to tackle obesity in early childhood A team of psychologists are to start work on a three-year project that will assist parents to address over-eating in pre-school children who have large appetites. The group, which specialises in childhood eating behaviour is led by Aston University, and includes researchers from Loughborough University, University College London and Kings College London. It is a result of a long-standing collaboration between the team members. The team have been awarded almost £1-million pounds, by the Economic and Social Research Council. The project aims to help support parents whose children are very focused on and motivated by food and the project will produce guidelines based on the findings that can be used to develop interventions. Childhood obesity is one of the most serious public health challenges of the 21st century and of major societal concern. It places children at high risk of diseases such as diabetes, cardiovascular disease and some cancers in adulthood. According to the charity World Obesity, in just 40 years the number of school-age children and adolescents with obesity has risen more than 10-fold, from 11 million to 124 million (2016 estimates). Professor Jackie Blissett, Aston University and lead academic on the study said: “Childhood obesity usually begins in infancy and early childhood, with up to 90% of children who have obesity at 3 years continuing to have overweight or obesity in adolescence. Some children however, are more vulnerable to the development of obesity than others, due to their genetic susceptibility. “A better understanding of the factors which may help to prevent or reduce the risk of childhood obesity, and applying this understanding to develop effective interventions, is of key importance to solving this complex policy and practice challenge.” The team will use existing longitudinal data from the Gemini study to monitor trends in children’s eating and examine the development of the relationship between children’s appetite and parents’ feeding practices across early childhood. In the second phase of the project, which will be lab-based, the team at Aston University are set to recruit two members of research staff to support the study. In the lab, around 120 children will be observed whilst taking part in various food related tasks, to assess which feeding practices change their eating behaviour and help the researchers find the best way of regulating their food intake. The team intend to test the effectiveness of certain feeding practices and plan to recruit around 2000 new families who will take part in an online survey to assess children’s appetite traits. Professor Claire Farrow, Aston University, and collaborator on the study said: “At present, public health advice regarding children's eating and weight is generic, ineffective, and does not tackle variability in children's appetite avidity, which makes behaviour change even more challenging for parents who struggle to manage their child's eating behaviour.” “Using current theory to inform complex intervention development, our research will examine how parents interact with their pre-school children with avid appetites in the food context, evaluate how these interactions predict short and long-term effects on eating behaviour and develop recommendations for interventions in the future.”
"Apocalypse" - A period of mass extinction threatens insects – and the world that depends on them
UConn entomologist and professor David Wagner says all kinds of insects are at risk for “a death by a thousand cuts" -- decline attributed to multiple factors, including the climate crisis, agricultural intensification, development, deforestation, and the introduction of exotic and invasive species into new environments. He discusses the threats to the world's insect populations in this compelling new video report from UConn Today: Wagner cautions that many of these creatures will not be with us for much longer, and says people must act swiftly to help prevent these tremendous losses before it is too late. Wagner remains hopeful, and says there are many actions that can be taken now — from encouraging political leaders to enact policy changes, to simply letting part of the front lawn grow freely to provide a food-rich environment for insects. “This planet isn’t here for us to exploit,” Wagner says. Dr. David Wagner is an expert in caterpillars, butterflies, moths, insect conservation, and global insect decline, and he’s available to speak with media. Simply click on his icon now to arrange an interview today.
New research published in BMJ Open shows that community pharmacy could play a ‘key clinical role’ in the future role of COVID-19 vaccination programmes, according to a study led by Aston University in Birmingham, UK, in collaboration with UK and international researchers. The team found that community pharmacists, as a ‘skilled clinical workforce’, could positively contribute, supporting the community in which they serve - by playing a critical role in ongoing COVID-19 vaccination campaigns. The researchers working on the PERISCOPE study found that community pharmacy is uniquely placed to support individuals, because it is seen by the public as a credible, trustworthy service, which could be key to any future clinical role it might play, especially where addressing vaccine hesitancy in ‘seldom heard’ communities. They are therefore calling on decision-makers to endorse and provide their support for a public health role for community pharmacy. Across the UK, community pharmacy is a critical part of primary care. According to the Kings Fund, as of the end of March 2019, there were more than 11,500 community pharmacies in England alone. It is viewed as one of the four pillars of the primary care system, along with general practice, optical services and dentistry. It has also, in areas of the UK, helped to deliver COVID-19 vaccinations. The study included partners from the Universities of Sheffield, Oxford, Hull and Bradford in the UK, as well as internationally, the University of British Columbia and University of Tasmania. The group reviewed more than a hundred documents including peer reviewed articles, blogs and websites on the role of community pharmacy during COVID-19 and other previous pandemics. Their findings were discussed with more than 30 health professionals and members of the public, to ensure that the findings made sense in the real world. Health professionals included pharmacists, pharmacy technicians, dispensers, counter assistants, and GPs, together with members of the public from a range of diverse ethnic backgrounds. Several recommendations were made by the researchers from the findings of the study. Most significantly the group found it was imperative that policy and practice should focus on the clinical role of community pharmacy. Dr Ian Maidment, reader in clinical pharmacy at Aston University and former community pharmacist leading PERSICOPE, said: “We need to use community pharmacy to a much greater extent for COVID-19 vaccination, particularly for boosters against new variants such as the Delta (Indian) variant. The current model (for example, the large hubs) may not be sustainable in the longer term, particularly if annual COVID-19 vaccination is required. “Our work found some key ways to make this happen. The easy access and local convenience of high street pharmacies makes them an ideal location for vaccinating at-risk populations.” The study includes guidance for policy makers: • Have a clear role for community pharmacy in response to the public health agenda, with that role championed by decision-makers • Involve frontline community pharmacists in the development of policy and service specification in relation to vaccination • Provide prompt, clear, consistent guidelines with adequate detail and enough flexibility to allow community pharmacies to adapt the guidelines to meet the needs of their local population • Provide adequate funding and reimbursement for the delivery and necessary adaptations of any new services community pharmacies are asked to deliver • Provide pharmacy teams with adequate systems to deliver this new role and then trust them to deliver. Hadar Zaman, head of pharmacy and medical sciences at University of Bradford and a community pharmacist, said: “Our research has highlighted the important role community pharmacy has played in overcoming vaccine hesitancy, particularly in ethnic minority communities who have been disproportionately affected by COVID and subsequent mortality. “What comes out very strongly, especially in areas of high social deprivation, is that community pharmacists have worked very closely with their local communities addressing concerns around vaccine safety. “It is through these strongly rooted relationships in local communities that we will ensure vaccine uptake rates in ethnic minority and the wider population can be further improved. Therefore, community pharmacy needs to be seen as an essential delivery partner if the Government is to achieve its national vaccination coverage in the short and long term”. PERISCOPE searched for the best evidence across the world and the team included international collaborators. The findings therefore have international relevance. Maura MacPhee, professor of nursing, University of British Columbia and member of the research team, said: “Our review findings and recommendations for decision-makers, community pharmacists and pharmacy users are adaptable and relevant internationally, including my country, Canada, where community pharmacy has a major role to play in COVID-19 vaccination programmes.” Juanita Breen, also a member of the PERISCOPE team and associate professor of dementia studies at Wicking Dementia Centre, School of Health and Medicine, University of Tasmania, added: "This study demonstrates how pharmacists can contribute towards this important public health initiative and enhance the uptake of the vaccine. “It provides important learnings for other countries on how best to utilise the skills of our most accessible health professional - the community pharmacist." Professor Claire Anderson, chair of the Royal Pharmaceutical Society’s English Board said: “This research clearly demonstrates the vital role community pharmacy has played during the pandemic, providing essential advice to communities and tackling health inequalities in areas of high social deprivation. “Policy makers and commissioners need to take forward the recommendations of this research and ensure the strengths of the community pharmacy network are maximised for the benefits of patients.” Alastair Buxton, director of NHS Services at the Pharmaceutical Services Negotiating Committee, said: “This research provides a timely examination of the role community pharmacy teams have played in supporting their communities to fight back against COVID-19. “By keeping their doors open throughout, pharmacies have maintained day-to-day activities, and managed increased demand for many services - including advice on the management of minor illness. They have also substantially increased the number of flu vaccinations administered and played a key part in the COVID-19 vaccination programme. “These findings will help guide policy in the later stages of the pandemic and guide practice in any future pandemics.” Tony Kelly, a diabetes ambassador, Diabetes Strategic Patient Partner - NHS Birmingham and Solihull Clinical Commissioning Group and member of PERISCOPE, said: "Community pharmacists are ideally placed at the forefront of the vaccination agenda as they are the nucleus of ethnically diverse communities and are often the first point of contact for most people." PERISCOPE was jointly funded by UK Research and Innovation (UKRI) and the National Institute for Health Research (NIHR).
