And The Ox Continues To Plough………
Posted by ErnieJean on December 3, 2008
Our Malaysian government projected our economy to be still growing at 4.9% next year, although relatively lower than previous years, but still a growth nevertheless, right?
I’m definitely no Economist, but it doesn’t take a genuis to know most of us are understandably worried about where our economy is heading, especially since our Finance Ministry has not seen any competent economic genuises in control for quite some time now, if you know what I mean *wink wink*
Not sure about you guys, but despite the current global economic turmoil, I do think Malaysians may not get it as bad as the other financial giants and developed nations as we still have our commodity sector, which is still relatively strong, to tide us over and should be able to keep us sufficiently “oiled” to survive this current economic predicament, with our palm oil, rubber, timber and to a certain extent, oil exports.
Which should be sort of good news to the local companies that deal with such commodities, especially palm oil, right? I do think, to a certain extent, the same goes for almost every other businesses, especially during the 1st half of this year, where business transactions were roaring and profits rolling in……..I mean, just see how crowded the retail outlets were during weekends and sale seasons and mushrooming of mega-malls all over the country, and you’ll know what I mean.
So, why is it that, at the first signs of threats of an oncoming recession looming over our heads, these same employers, who have made all the profits they can possibly make to certainly tide them over for at least the next year or so, be so quick to join the bandwagon of “cost-cutting measures” and start cutting bonuses, increments and retrenching staff, most of whom would have had a hand in helping these employers reap in their profits?
The company that I am currently an employee of, a family-owned business under the control of a patriarch and his 3 sons, happens to be one of those that made a really “indecent” amount of profit from the recent hike in palm oil prices, so much so that the sons have awarded themselves with purchases of brand new Porshes, Ferarris and a brand new luxurious Villa. But at the same time, they inform their employees of zero bonuses and increments in view of the economic downturn, all announced with straight faces, while decked in brand new Rolexs, gems and haute couture. And to top it off, that some employees will also face the axe.
I’m certainly not begrudging the bosses for their lavish lifestyle or for enjoying the fruits of their forefathers’ successful labour, but it’s sometimes pretty depressing to see the selfish and self-centered nature of Man.
What is that sacrifice of one less luxury sports car, when the bonuses and increments would have made the day of one’s employees, who would depend on that miserable year-end bonus to pay for the “Back-To-School” expenses and in-coming festivals such as the Chinese New Year, and that miserable 3% increment to survive the yearly inflation which would definitely be more than 3%?
Yes, I know…….it’s very naively idealistic of me to expect otherwise…… but I have seen enough examples of employers appreciating the contributions of their staff, enough to try and keep them in their payroll and give them the bonuses and increments, even during the not-so-good times, because these bosses understand the predicament of the ordinary working folks…..and for that, they are quite aptly rewarded with the utmost loyalty from their employees.
But I suppose, like most folks would tell me after listening to my rant, that,
“THIS IS THE FACTS OF LIFE“…….
“IT’S SURVIVAL OF THE FITTEST“…….
“THE POOR BECOMES POORER WHILE THE RICH BECOMES RICHER“………and
“THE OX PLOUGHS THE LAND WHILE THE HORSE ENJOYS THE HARVEST“