Rojak Thoughts On current situation

2020-7-11

THIS POST IS FOR WORKERS; NOT FOR RICH, BOSSES AND ELITES

It has been ages I posted anything to my blog.  Today I shall try to pen down ( or⌨⌨ punch down 😊) my rojak views in this uncertain time where good and bad happen at the same time. My main targets are young friends and /or associates past and present.  This post is not meant for those powerful, rich (anyone with net assets  > 3 million), gov servants. workers in GLC and any protected groups. 

I am a senior citizen according to the norm of this country. I am also a mediocre according to social norm. By gov income definition I am in the M40. But in reality, I am just struggling along like most in the bottom of the M40.  Like most ppl in this country I worry about education fees for my children, rising medical cost with lowering medical ethic, sufficiency of saving for old ages etc etc etc. I grown up  from poor rubber estate and thanks to no nonsense mum, I got educated & manage to squeeze to lower end of the M40 income group.

Why the above introduction? So that my readers know I am a worker just like them.

Are you prepared?

Other than Physics and few things in life, MOST if not all futures events are not predictable.  Run away from astrologers (I am a half pass six astrologer at one time), economists, businessmen, priest. Rabi, socialists and politicians that predict the futures with cocksure confidence.

Certain things in life we may guess the chances of occurrence but not the timing and the magnitude. Example: I am sure KLSE index will come down but don't know when and how much. 🤣

Though predicting future is futile, knowing the consequences is natural for most of us. Example: We can’t predict whether there will be an epidemic but we can know the consequences if gov let it be and tidak apa like Trump. 

Okay I go to Holland🙄 (off topic) already. Back to job losses. Those who attended lunch talks with me last year or previous year (memory not so good for Sr citizen) will remember I advocated at least keeping min saving in bank/cash equivalent to 6 months of your salary.  The rest of saving can put in other form of investment like 💠 or 🏘 .  If you have done that you are not in panic mood now and glad you did.  Did I know there will be covid-19?  NO. But I know economy goes up and down & the consequence of job loss, so opine to save for the rainy days.

I will talk about actions later. Now let us cheer up a bit – there are still jobs

Economy /Job Opportunities

I believe you have heard enough bad news about businesses closing down and retrenchments. These are real and if you unlucky & in the wrong industries such as traveling OR wrong companies with bosses that just want to exploit the situations, then you must prepare to be axed even you still have a job. Unless you know you are going to get above 10 months compensation then it is better to start job hunting before the big retrenchment wave about to hit the shore after the gov wage subsidy program end in Sept or Dec. 

Not all sectors are retrenching. The IT, medical supplies, palm oil, farming, food supplies and online businesses are still hiring. 

Prepare to drop pay in your new jobs.

FEELING BAD/ANGRY?

For those services being terminated, it is natural to feel terrible. Shout or punch some sand bags with your ex bosses face on it, if you want. However, you have to let it go and start to acknowledge this is life and life is never fair. Life has to go on. Bosses are not saints so get over it. It is just business. Better learn something from this episode of your life than get mad.

LESSONS

1   Job is a one customer business
Workers are in service business – you provide services and you get paid like any business. But the problem is that :- you have one and only one customer.  We all know it is very risky to have a business with one customer but many workers do not realize that they are a one customer business.

2 . Jobs are not secure
Workers are in weak negotiation position against employers thus workers rights were ( yes ! past tense) protected by Trade Unions and governments. However, over the last few decades, trade unions have gone down the drain & is almost nonexistent or exist in name sake. Workers right in this country have been reduced to almost nothing.

There are many more reasons your jobs are unsecured. Recall the lunch talk on AI/Automation/Globalisation on your jobs I had with you all?

  

3      The last of the Mohican

Not sure the title is suitable or not. Just like the sound of it.🔊

My generation may be the last ( okay may not be the last but should be near …. 😎)  of workers that can have a minimum decent lives as workers. Why why why old man? You may ask.

• The bosses of my generation share more from the profit but no more. Six months bonus are not common but not rare too in the old days. Now the entry level staff pay hardly meet the cost of living in cities but the bosses collect 20 time to 100 time more excluding those dividends and profit retained in the businesses. Just came out in the news, even ministers get 45 time of entry level pay. Imagine that…
• Cost of living gone up up up  🚀🚀salary gone up little🐌 
•  Country is stuck in this stagnant situation for decades thanks to the great gov we have

ACTIONS

1.       Multi-skill/Multi Jobs
Equip yourself with more skills. Unless you go real deep into a profession like Dr /Lawyers/ Engineer/ Tax consultant then it is better to have more skills. If you only know how to program in visual basic you are too comfortable. Or you only know Sage UBS and don’t know Autocount, SQL or Microsoft Dynamic you are too comfortable. If you only how to do accounts and know nothing about tax, you are too comfortable.

You can change jobs to learn new skills. Yes. Read it right. Don’t stuck in a company if you find yourself stop learning. Don’t change job for the sake of money. It is money+ opportunities to learn things..  Wait! What about loyalty to your boss? Screw ( sorry for the language)  the loyalty. Bosses may say sorry when they fire you or worse  they don’t even bother to say sorry but creating troubles forcing you to resign. I am not asking you to change job every 6 month but don’t get comfortable too long. Be Very loyal to work ethic and your profession but not to the company. Even your boss is an angel, leave if you find yourself dependent on the company and not dependent on your skills and knowledge for a living. Why? She may retire and a Satan 😈🙊🦊 took over.

You must ensure your income is skill/knowledge/capabilities and not company dependent.  

2.       Be your own boss
Do I need to elaborate this?  But prepare for failure as many start-up fail so prepare to fail and come back. Good luck..

3     Be a contractor
This is similar to 2 but slightly different.  It is safer and most likely you already have customers when you start.  You rely on your knowledge and skill and provide services to more than one customer. Remember: Worker is a one customer business so why one customer if you are good. A plumber income may go up and down but he has more customers & is in a more robust positions and free from bosses than an office or factory worker.

4          save save & save…..& learn to invest wisely

Whether you want to become your own boss or be freelance workers or remain as workers, you need to save.  Saving will provide capital when you want to be boss, saving provide for rainy days like now, saving provide $ for investment & old age.  So save save save.. Save 15-20% of your income  on top of the EPF saving. Don’t spend on unnecessary stuff. Let the rich crazy about the latest iphone & whatnot "atas" staff.

5.   Have multi-source income
I am not asking you to be Amway or MLM sales persons. I am not asking you to do things that conflict with your employment.  Alternative source can be your return from your investment like rental. Or it could be income from your hobby.   Internet/IT may take away your job but it also offers opportunities to sell things easily. Smart people called this long-tail market or something like that.  I have seen ladies without a shop but sell beautiful cakes over the internet /whatsapp group – all make possible with grab and other deliveries services.

I can go on and on but I should stop; just remember this

YOU CANNOT BE A WORKER LIKE THE OLD DAYS IF YOU WANT FINANCIAL FREEDOM