Gone are the days when total loyalty to a company is rewarded. Gone are the days when you worked for a company and retired with a great pension. You, my humble employee, are only a small part of the dynamic engine of profit and when that engine is no longer churning out profits, you will be discarded, to be replaced with a cheaper “foreign brand”, a more efficient “newer model” or more humiliating, a “virtual model” from an online source.
Last week, I sat with one of my entrepreneur friends who had to sever a large portion of his over 200 staff members because of a massive fall in revenue due to the drop in oil prices. The cold harsh calculation to determine who to slash was conducted like a surgeon slicing unblemished skin to remove a cancer. The goal, reduced payroll by almost 50%, in order to keep the company breathing . Each employee’s roles were examined to determine if it was essential. Could their job be outsourced? could it be automated? or could be merged? It was a difficult but necessary undertaking for the survival of the entire company.
But where does this leave the hard working employee who gave 100%? He or She stays late without overtime pay, works through lunch, takes on extra task, and have been with the company for over 10 years? They have kids, loans, rent, school fees and as expats, some have financial obligations back home. The company’s severance package was crap to say the least and the possibilities of getting a new job in a declining market is very slim for the young 20 year olds and even worst for the unprepared, middle age person at the top of his/her pay package for their role.
You my dear employee, should have asked yourself? Why should I give 100% to this company knowing full well that the possibility of them discarding me, not if but when, something changes? These changes could include one or more of the following…
- Company being Sold
- Profits drop
- Company merges with another
- Technology can perform my task
- A younger, cheaper graduate can do my job with tech
- or it is cheaper to outsource my task to some guy in a village in India.
You my friend, are screwed if you failed invest a little time either in some type of portfolio or even better, investing some of your time into a small part-time hobby based or online business, that requires some flexible time.
In reality, we will all have to become entrepreneurs in-order to survive in the modern workplace. We are in a era of massive digital transition due to the internet and the ever increasing pace of technology. Fact…more business is done online now than face to face. You have to find the opportunities in this new shift or face a slow financial death.
World economic crisis are occurring at a much faster rate as global integration become greater. You, the employee are more disposable as technology become more developed.
You must take some take sometime from your employer for your financial survival. Yes, give a lot to your company, I recommend 90% then take 10% to invest in yourself.
If you are not putting the pennies you earn online every day you will be one poor, old depressed SOB looking for a handout in your old days.
My advise to fellow EMPLOYERS, “Give your staff space to grow within or outside your company”.
Encourage and provide time to study or learn other skills within or outside your company. This creates loyalty and harmony from your workers. Gone are the “my workers” or “slave mentality” that is still very prominent in the Middle East. Better yet, sell them stock options in your company. Nothing is better than having a worker who is Invested in his company. The idea that cheap labor is readily available and every worker can easily be replaced by an obedient desperate worker from India or the Philippines is a much more expensive and disruptive proposition than having a happy loyal worker that is flexible because he or she is trained to think for your company and not just follow commands.
Hey, but this is “just my opinion”.