Recently, I've been to a gathering and learnt from alot of my friends that their companies are retrenching staffs and those who stays on will get their salary cut.
The question I have today, is whether a paycut do help our career?
A company may ask its employees to take lower salaries to keep the organization afloat or to avoid massive layoffs. I find that the alternative is often having no job at all.
Former Yankees manager Joe Torre said at a press conference, “The fact that somebody is reducing your salary is just telling me they’re not satisfied with what you’re doing.”
Business may has slowed around your office. Well, at least you still have a job. But you will also learn that your salary is being cut.
Do read on when it comes to pay cut issues: (Abstract from Web)
Make No Accept-ion
-When your supervisor breaks the news to you about your pay cut, do not accept anything immediately. In other words, refrain from conveying any type of agreement, either verbally or in writing. If pushed, you may say something to the effect of "This is a lot to process right now. I need to think about this and discuss it with my family this evening."
What you want to do is buy yourself some time. Why? You need to find out all the facts surrounding a salary reduction before you accept it. A pay cut can affect your future severance package and compensation for unused sick or vacation days as those numbers are usually calculated based on your current salary -- as are unemployment benefits. Also, the reduced compensation could affect salary negotiations with future employers as your last salary of record could be significantly less than what you are really worth.
Questions to ask your superiors include:
- Is this a mandatory or voluntary pay cut?
- How much will your pay be lowered by?
- Who else is affected by the pay cut?
- How long will the pay cut last?
- Could there be retroactive reimbursement?
- How will this affect raises, bonuses and benefits?
- Are you going to have to work longer hours or take on additional tasks?
- What are the company's plans to turn things around?
Questions to ask yourself include:
- How much do you need this job?
- Do you have faith that the company will recover from this setback?
- Can you trust what your superiors are telling you?
- Is it time to move on?
- After gathering information outwardly and inwardly, you may want to speak with an employment attorney to explore all of your legal options and your rights.
It Pays to Negotiate
- Once you know the facts and think you may wish to continue at your current job, see if you can negotiate to make the pay cut more palatable to you.
- Some areas to negotiate can include your weekly hours and where you work. Suggest a reduced schedule, such as a four-day workweek. Or try to arrange to telecommute to reduce your commuting costs.
- You can also negotiate around stock options, if you still believe the company is viable -- and valuable. If you don't have any stock options, ask for some. If you have some, try to get more.
- Finally, ask the company for a written agreement around the salary cut, when your old pay rate might be reinstated and if there will be any recompense for lost wages.
Exit Stage Left
- Because most people are employed "at will," you or your employer can end the arrangement at any time and your salary can be lowered, as long as it is done for a legitimate business reason. But, if your pay has been cut by an unreasonable percentage, you may be able to quit and still collect unemployment benefits.
- If you have an employment contract, you may be able to refuse the cut altogether or at least quit and collect unemployment, but only if the contract states terms of compensation and says that your employer cannot alter the terms without your consent. The pay cut could constitute a breach of contract
- Finally, you can temporarily agree to the pay cut, update your resume. Begin applying for new jobs immediately and look forward to the future with a different employer.
Monday, February 2, 2009
Wednesday, January 28, 2009
Bad Times Bring Out the Worst In People At Work
The situation that we are in right now, is that, bad times bring out the worst in people. I have came across co-workers who back stabbed me or will do anything to get in good books, be it with the boss or the company's clients to boost their career status first.
That is the ugly side of human when faced with threat for survival. Because of the current failing economy and job loss, people fear losing their jobs and there are also those who have already lost their jobs. People start back stabbing their co-workers, or they blame and point fingers towards one another in hopes of increasing their own value.
The tactic may work for some in the short term, however, it could also result in failure. This is because, the work environment becomes stale and it will results in failing efficiency and productivity. And the business could dies.
Whether you were the person stepping on your fellow colleague or the one who was being stepped on; if we remain selfish and try to save only our own interests at work, we will fail. Not only will we bring down co-workers, but employer and the economy right now could suffer.
The economy does bounce back. So remember, never do things that you will regret.
That is the ugly side of human when faced with threat for survival. Because of the current failing economy and job loss, people fear losing their jobs and there are also those who have already lost their jobs. People start back stabbing their co-workers, or they blame and point fingers towards one another in hopes of increasing their own value.
The tactic may work for some in the short term, however, it could also result in failure. This is because, the work environment becomes stale and it will results in failing efficiency and productivity. And the business could dies.
Whether you were the person stepping on your fellow colleague or the one who was being stepped on; if we remain selfish and try to save only our own interests at work, we will fail. Not only will we bring down co-workers, but employer and the economy right now could suffer.
The economy does bounce back. So remember, never do things that you will regret.
For me to keep
The CLEO team are nice to invite me for a photo shoot on the letter that I wrote. Its featured on January 2009. I've got to keep this.
Friday, January 23, 2009
Towards Corporate Objectives
Sometimes, we came across people working in a company and somehow seems lost about why he is here in the first place. That is actually bad for himself and the company in the long run. A lot of communication about the company's objectives are not convey properly and clearly from the day the employees started working and that result in "bad hiring".
We often blame others for lack of motivation, that they are a bad hire or some are "in their own world". It never cross our mind that the root to the problems started from day one of his work.
We should develop staffs around a common goal. Helping them feel a part of something genuine, special, and important, and to inspire real passion and loyalty.
We all know that nothing will ever happens by magic. To be able to work towards corporate objectives, staffs and managers should constantly communicate objectives to their employees and be seen living them. A lot of time, people don't know where the organization is going and what it is trying to achieve in the future.
Victory comes from everyone sharing the same goals.
We must always think and look at the bigger picture. Successful companies are those that focus their efforts strategically. They are able to meet and exceed customer satisfaction and the business team needs to follow an overall organizational strategy.
Everyone in the organization must ensure they sees a benefit in order to make a company work.
We often blame others for lack of motivation, that they are a bad hire or some are "in their own world". It never cross our mind that the root to the problems started from day one of his work.
We should develop staffs around a common goal. Helping them feel a part of something genuine, special, and important, and to inspire real passion and loyalty.
We all know that nothing will ever happens by magic. To be able to work towards corporate objectives, staffs and managers should constantly communicate objectives to their employees and be seen living them. A lot of time, people don't know where the organization is going and what it is trying to achieve in the future.
Victory comes from everyone sharing the same goals.
We must always think and look at the bigger picture. Successful companies are those that focus their efforts strategically. They are able to meet and exceed customer satisfaction and the business team needs to follow an overall organizational strategy.
Everyone in the organization must ensure they sees a benefit in order to make a company work.
Thursday, January 22, 2009
The sacrifices of a Married Man
I read something very interesting today. Its about Men and Women.
" Research shows that its the single man who's often out of order. Though there are numerous exceptions. ..... He's often hot-tempered and impulsive, and he typically earns less money - its true - than a single woman, and is more likely to move aimlessly from job to job. But when he marries and commits himself to a wife and children, most of the social liabilities disappear. He has a reason to live responsibly, to work hard, and to save for the future. Instead of pandering to his own sensual desires, he postpones gratification and he sacrifices for those who depend on him."
Well said. I did see some of my guy friends who have become a sensible and more responsible person after they have a family of their own. I guess one would feel a sense of belonging and having assured that one's partner's love for one is true.
" Research shows that its the single man who's often out of order. Though there are numerous exceptions. ..... He's often hot-tempered and impulsive, and he typically earns less money - its true - than a single woman, and is more likely to move aimlessly from job to job. But when he marries and commits himself to a wife and children, most of the social liabilities disappear. He has a reason to live responsibly, to work hard, and to save for the future. Instead of pandering to his own sensual desires, he postpones gratification and he sacrifices for those who depend on him."
Well said. I did see some of my guy friends who have become a sensible and more responsible person after they have a family of their own. I guess one would feel a sense of belonging and having assured that one's partner's love for one is true.
Wednesday, January 21, 2009
Understanding Differences: A Foreigners Perspective
I am new to blogging and for the first time have decided to contribute. Let me begin by providing a little introduction which may assist in understanding my later discussion. I am Asian by birth and partially educated in Singapore. I left Singapore when I was young and spent most of my adult life in North America (over 15 years) with limited contact with Asia. As most of my adult life was spent in North America, I adopted a more American outlook as well as accent. However, I still understood my roots and had served the Asian community while I was living in the US and Canada. Later I adopted Canada as my country and became a Canadian. Three years ago, I decided to return to Singapore and this is where my experience and culture shock began as I adapted to life in Singapore.
To begin with, my experience began with the fact that many did not know how to categorize me; I looked Chinese but was not local, I spoke English but had an accent, I did not understand local culture but there was an assumption that I should as I am Chinese etc. These contributed to several rather interesting situations. For example, mobile phones and sms are popular tools here in Asia; however, such devices caught on slowly in North America. Even when I left Canada, sms was hardly used but was already a daily communication tool here. When I asked people how to sms or what it was, I received looks of surprise and laughter as if I were an alien. Another incident involved my speech. As I speak with a US mid-western accent (as I spent most of my life in the mid-western part of the US), I drew stares from people as well as comments that I was trying to show off with my accent and was a wannabe "ang moh" (the truth about my accent is that it's real and part of my speech).
However, the biggest shock that I received was how the "ang moh" was treated or the service that I would receive once people found out that I was Canadian. I had made the observation that if a person had blonde hair and blue eyes, service would be rendered to this person immediately; suddenly the rude sales person would tone down, smile, and speak to this person as if he/she were God. This experience was prevalent all through various places, be it at hotels, restaurants, banks etc. Also, the "ang moh" can say anything and people would be enthralled. I actually did run a test on the phone and realized that I got better service when I spoke with an accent as opposed to using local slang; this was shocking to me as I pondered whether an accent made me a different person suddenly (funny though!).
The point of my writing this is to point out certain issues:
- With the influx of foreigners into Singapore, we need to be more tolerant and respectful of people. We all have to learn that the "ang moh" is not the only foreigner in Singapore; this group may be the most obvious in a crowd but potentially, there are still over a million of us here who are truly foreigners but look Asian. Looking Asian does not mean we are local and understand everything here; some of us REALLY have no clue about the local practices here.
- Just because we look Asian and speak with an accent does not mean that we are wannabe "ang mohs"; some of us REALLY have this accent and it is part of our speech.
- We should treat everyone with equal respect and not because the person is "ang moh". We are all human beings and the same treatment, whether in a hotel, restaurant, etc., should be given to all regardless. Please also do not try to categorize people by their appearances.
To summarize, I want to point out that there are differences between all of us and we have to learn to understand and respect one another for who they are. We should not make judgments and assumptions based solely on appearances beacause most of the time, you may be surprised that the judgment may be flawed.
Rubbing Salt into the Wound
The other day I was taking the train back home, I saw a number of nicely, formally dressed men and women. Some of them are holding in their hands like document files or A4 size envelopes. I mean they are wearing office jackets and it is a hot day outside. Then it occur to me, this people could be on their way to a job interview - they are job-seekers. That's nothing wrong, we hear about people getting retrenched and jobless in this time of crisis and the numbers are still rising.
A week back, somebody told me she can easily find a job without putting in a lot of efforts as she "knew" a lot of people. Indeed, a company called her and said they wanted to offer her a job. She wanted a substantial increment from her last salary before she will "think" of taking up the offer. The company negotiated and they came to a fairly close sum of salary that she wanted. (Well, some people are just so lucky)
Before she took up the offer, she actually asked people for opinion about how much she should negotiate for. The amount she wanted, could make anyone gasp. Of course a lot of people told her that during this crisis, it may be difficult to be still working in a company without thinking you are the next 'target', and advise her otherwise.
I have heard friends who told me they wanted to change job because they are not happy getting pay cut, or not getting their bonuses. Some, even went for stringent of interviews in a particular company and got an offer. But rejected it, because he couldn't make up his mind. ( A lot of time, effort and money was wasted and other potential job-seekers could have miss out on this opportunity)
What I'm saying here is, if we will to look around us, we see some people having a hard time but we also do see people not being affected at all. Whichever, groups you belong to, be sensitive to people around you. Don't rub salt into people's wound, because one day, you may need the help of that person who you may have offended.
A week back, somebody told me she can easily find a job without putting in a lot of efforts as she "knew" a lot of people. Indeed, a company called her and said they wanted to offer her a job. She wanted a substantial increment from her last salary before she will "think" of taking up the offer. The company negotiated and they came to a fairly close sum of salary that she wanted. (Well, some people are just so lucky)
Before she took up the offer, she actually asked people for opinion about how much she should negotiate for. The amount she wanted, could make anyone gasp. Of course a lot of people told her that during this crisis, it may be difficult to be still working in a company without thinking you are the next 'target', and advise her otherwise.
I have heard friends who told me they wanted to change job because they are not happy getting pay cut, or not getting their bonuses. Some, even went for stringent of interviews in a particular company and got an offer. But rejected it, because he couldn't make up his mind. ( A lot of time, effort and money was wasted and other potential job-seekers could have miss out on this opportunity)
What I'm saying here is, if we will to look around us, we see some people having a hard time but we also do see people not being affected at all. Whichever, groups you belong to, be sensitive to people around you. Don't rub salt into people's wound, because one day, you may need the help of that person who you may have offended.
Subscribe to:
Posts (Atom)