Retrenchment, VSS or No-Pay-Leave, Part II

I used to see how some of the semiconductor companies spending millions of ringgit on VSS and get back their people a few months later. Kind of silly at hindsight. The scene is quite similar to investing, management normally capitulates when they cannot see recovery - sell at the bottom and buy at higher price later??. In the past boom, employees were laughing all the way to the bank as if they got generous bonus from their companies. I hope Penangites will be as lucky as always in the past. Thanks to IT revolution for the past 30-40 years, Penang has been prosperous. Penangites did not suffer as badly as in 1997/1998 Asian financial crisis as the global economy was doing very fine.

Most of us like to think we have done a good job, I meant - we like to think we are Jack Welch or Peter Drucker - constantly shaking up our organization, retooling, rethinking or reinvent ourselves, etc. The truth is downturn will reveal how much fats we have picked up along the way. I raised a question whether it is necessary for management to reduce work-force even it is profitable. My take, unfortunately, is painfully yes. Creative destruction is necessary to reconstruct and to make us fitter and survive longer. The tension, conflicts, shock and etc will tell us who we are -- flatly in front of our face, without prejudice. It will also tell us who can do work and who has been carrying ba***. It is not salary saving that matter but the process of re-examination of business process and business models that force an organization to emerge stronger in the future. You will be shocked to find out how one person can do three person work.

As an employee, I always maintain an attitude my organization will not need my service at a short notice. Will always try to deliver more value for every $ 1 my employer pays me. That way I can sleep soundly every night. Be prepared financially so that I will not get caught flat-footed. There is no need for the world to give us a sympathy vote.

If we take an attitude of the stock market don't owe us a living, so is our professional life - the company don't owe us a living. Invest in ourselves, better ourselves, make the company needs us.