Closely related to my previous post on materialism is the alarming financial indebtedness of our young people. For one, I have never owned a credit card in my life – a debit card offers the same convenience as a credit card without the temptation of spending beyond your means.
So I just don’t understand the lure of credit cards among young adults nowadays. Credit cards let you spend money you don’t have. This sounds exactly like a scam you should run away from! Don’t even let yourself purchase things on credit, unless you know you can pay back on time – why start yourself on an endless cycle of debt?
Younger Singaporeans biggest debt defaulters
”Figures released by DP Credit Bureau showed that the percentage of default records of 21 to 29 year olds rose from five per cent (5.07%) in January 2009 to seven per cent (7.16%) in December 2009… The rate of bad debts of Singaporeans between 21 and 29 years old is more than double (130%) than the average rate for all consumers at 3 per cent (3.11%).”
And I thought our youths were smart. But they’re addicted to the lure of spending power, of being able to buy things now and worry about paying for them later. Why can’t youths think more clearly, and why do they keep going into debt?
Youth debt
The website above suggests societal pressure and easy accessibility of credit as reasons for this phenomenon. I don’t disagree – every day, our youths are exposed to ideals of a perfect lifestyle, and every day, you see those credit card salesmen camped outside office buildings trying to sign young people up for new accounts.
But for youths to blame their problems on these external things are all too typical and show a lack of responsibility. I suggest, again, that they look inward and admit to themselves that it’s mainly materialism and the Dream at work. Privileged youths of today dream of having lavish lifestyles of the rich and famous, and ignore the fact that these rich and famous people earned their money through quality work and not through signing up for credit cards! These youths want the rewards without the hard work, and that need for instant gratification has made so many of them buy their dreams with tomorrow’s money. When will they realize they’re being foolish?
There’s no question about it – they need to stop living in dreamland and start living within their means. Smart people go into debt for the right reasons – to start a business, to pay for an education, for family emergencies – but there’s absolutely NO justifiable case for taking on debt to sustain materialistic desires. These youths should be ashamed of themselves for their lack of self-control, and I feel sorry for those parents who have to eventually bail their children out when they really should be pampering themselves with their retirement nest eggs!
Sunday, August 22, 2010
Saturday, August 21, 2010
Having kids
Let us assume, for a while, that our young people wake up and get married in droves. There’s still another unfortunate delusion standing in the way of a better reality. They don’t want to have kids.
To be fair, the decision of whether to have kids is a complex one. I imagine that many liberal young couples today would relish a married life free of children – in other words, a life free of responsibilities. The personal freedom to do whatever you want and go wherever you please without having to consider those pesky kids! The financial freedom to pamper yourself lavishly and live like a king because you don’t have to devote hundreds of thousands of dollars to your kids’ food, clothing, and education. This is really the life of a 30 year-old, and I’m not surprised that so many affluent (and naïve) young 30 year-olds want to live like 30 year-olds forever. It doesn’t help that the media has romanticised this seemingly “ideal” dream lifestyle. It’s a tempting dream indeed.
But a tempting choice is not necessarily the right one, and eventually, all dreams come to an end. A blissful, carefree, love-filled married life is not a realistic long-term prospect – it will not last long. Most couples run out of things to talk about, lose the spark, and generally get bored of each other... and by the time they realise they really want kids, the wife is already nearing or beyond the end of her childbearing years.
If you’re still not convinced, please at least spare a thought for your country. If more young couples don’t start having kids, we as a nation may cease to exist within just a few generations! Singapore’s current total fertility rate (TFR) is a catastrophic 1.23, far below the TFR of 2.1 needed for us to replace ourselves. We desperately need more babies to ward off this existential threat. In a way, to put personal hedonistic pleasures above the dire needs of your nation strikes me as extremely selfish.
Singapore's declining birth rate one of people's top concerns
Singapore's Demographic Winter
Of course, we can all blame many factors... but ultimately, we always have a choice, albeit a tough one. It's up to Singaporeans to make the right choice.
To be fair, the decision of whether to have kids is a complex one. I imagine that many liberal young couples today would relish a married life free of children – in other words, a life free of responsibilities. The personal freedom to do whatever you want and go wherever you please without having to consider those pesky kids! The financial freedom to pamper yourself lavishly and live like a king because you don’t have to devote hundreds of thousands of dollars to your kids’ food, clothing, and education. This is really the life of a 30 year-old, and I’m not surprised that so many affluent (and naïve) young 30 year-olds want to live like 30 year-olds forever. It doesn’t help that the media has romanticised this seemingly “ideal” dream lifestyle. It’s a tempting dream indeed.
But a tempting choice is not necessarily the right one, and eventually, all dreams come to an end. A blissful, carefree, love-filled married life is not a realistic long-term prospect – it will not last long. Most couples run out of things to talk about, lose the spark, and generally get bored of each other... and by the time they realise they really want kids, the wife is already nearing or beyond the end of her childbearing years.
If you’re still not convinced, please at least spare a thought for your country. If more young couples don’t start having kids, we as a nation may cease to exist within just a few generations! Singapore’s current total fertility rate (TFR) is a catastrophic 1.23, far below the TFR of 2.1 needed for us to replace ourselves. We desperately need more babies to ward off this existential threat. In a way, to put personal hedonistic pleasures above the dire needs of your nation strikes me as extremely selfish.
Singapore's declining birth rate one of people's top concerns
Singapore's Demographic Winter
Of course, we can all blame many factors... but ultimately, we always have a choice, albeit a tough one. It's up to Singaporeans to make the right choice.
Thursday, August 19, 2010
Marriage and family
As I mark the half-century mark of my life, I come over and over again to the same realization as I look back on my life. That undeniable realization is that my greatest achievement has been not my career, not my awards, but my family – more specifically, to have married my wife and raised our three kids to become outstanding citizens of the world. There’s not one moment spent with them that I would trade for an extra dollar in my salary, or a bigger car, or a more luxurious house.
But of course, the trade-offs of managing a family are real, and I have made many of them over the years. It’s not a complete joyride, when I consider the nights I was kept awake worrying about my kids, the hours I spent tutoring and counselling them, the times I had to take urgent leave from work when one of my kids fell sick… That’s the reality of having kids. Not to mention the sheer cost of raising kids, and the material comforts my wife and I have sacrificed to make it possible. And despite all this, whenever I look at my wife and my grown-up children, I realize that I’ve lived an infinitely more fulfilling life because of them.
Worryingly, our younger generation is getting married and raising families at much lower rates and at later ages. Academics have suggested a variety of reasons for this alarming trend, such as the rising affluence of our people, the spiralling costs of raising children, and improvements in gender equality. These reasons have some validity, but I believe that the main reason for this phenomenon is still the inability of our younger generation to make the tough choices in life.
I’ll first talk about the decision to get married, and I’ll start off with a history lesson. Let’s first come to an understanding that marriage has never been just for the sake of “love”. It has also been about financial stability, emotional support, companionship in old age, having kids, social status... and love is not necessarily a prerequisite for many of these considerations. When you consider a recent study which suggested that wives who are financially dependent on their husbands are less likely to cheat, and the existence (and rising use) of divorce laws... any reasonable person would conclude that there’s no such thing as “true love”.
Men who earn less than women more likely to cheat
But according to this article, many lonely singles are still foolishly holding out for it!
SDN gives a singles push
Once again, it’s another foolish delusion held by young Singaporeans today. It’s ludicrous to hold out for that perfect someone, because, like I said, that guy or girl doesn’t exist, and it’d be a criminal waste of time and a waste of your life to spend years and years searching for nothing. Even more befuddling are the ridiculous criteria some people use to look for mates – especially looks. People, everyone looks the same after 50 years. It does not matter.
Be realistic in finding a lifetime partner
Before you know it, you’ll be nearing middle age and pushed to the bottom of the dating market, staring down at the terrifying prospect of a solitary retirement... and dying alone. Meanwhile, you miss out on all the pragmatic benefits of marriage that I’ve listed out above. How do our supposedly educated youngsters not figure that out? All it takes are simple cost-benefit analysis and some grasp of reality.
Most people, if they tried, could find an “imperfect” someone who’s good enough to bring reasonable happiness and companionship to their lives. That fully describes the situation of most married couples, even if they don’t want to admit it. There’s always someone out there who could make you happier, but given the short amount of search time available to us, the best option is to moderate our expectations and just be content with finding someone good enough to grow old with! Remember, ultimately we’re all chasing after happiness in some amount, not “true love”!
Is there really any value in holding out for “true love”? I very much doubt so.
And this time around, the search for “true love” is becoming fatal for Singapore as a nation. Yes, I’m talking about birth rates.
To be continued
But of course, the trade-offs of managing a family are real, and I have made many of them over the years. It’s not a complete joyride, when I consider the nights I was kept awake worrying about my kids, the hours I spent tutoring and counselling them, the times I had to take urgent leave from work when one of my kids fell sick… That’s the reality of having kids. Not to mention the sheer cost of raising kids, and the material comforts my wife and I have sacrificed to make it possible. And despite all this, whenever I look at my wife and my grown-up children, I realize that I’ve lived an infinitely more fulfilling life because of them.
Worryingly, our younger generation is getting married and raising families at much lower rates and at later ages. Academics have suggested a variety of reasons for this alarming trend, such as the rising affluence of our people, the spiralling costs of raising children, and improvements in gender equality. These reasons have some validity, but I believe that the main reason for this phenomenon is still the inability of our younger generation to make the tough choices in life.
I’ll first talk about the decision to get married, and I’ll start off with a history lesson. Let’s first come to an understanding that marriage has never been just for the sake of “love”. It has also been about financial stability, emotional support, companionship in old age, having kids, social status... and love is not necessarily a prerequisite for many of these considerations. When you consider a recent study which suggested that wives who are financially dependent on their husbands are less likely to cheat, and the existence (and rising use) of divorce laws... any reasonable person would conclude that there’s no such thing as “true love”.
Men who earn less than women more likely to cheat
But according to this article, many lonely singles are still foolishly holding out for it!
SDN gives a singles push
Once again, it’s another foolish delusion held by young Singaporeans today. It’s ludicrous to hold out for that perfect someone, because, like I said, that guy or girl doesn’t exist, and it’d be a criminal waste of time and a waste of your life to spend years and years searching for nothing. Even more befuddling are the ridiculous criteria some people use to look for mates – especially looks. People, everyone looks the same after 50 years. It does not matter.
Be realistic in finding a lifetime partner
Before you know it, you’ll be nearing middle age and pushed to the bottom of the dating market, staring down at the terrifying prospect of a solitary retirement... and dying alone. Meanwhile, you miss out on all the pragmatic benefits of marriage that I’ve listed out above. How do our supposedly educated youngsters not figure that out? All it takes are simple cost-benefit analysis and some grasp of reality.
Most people, if they tried, could find an “imperfect” someone who’s good enough to bring reasonable happiness and companionship to their lives. That fully describes the situation of most married couples, even if they don’t want to admit it. There’s always someone out there who could make you happier, but given the short amount of search time available to us, the best option is to moderate our expectations and just be content with finding someone good enough to grow old with! Remember, ultimately we’re all chasing after happiness in some amount, not “true love”!
Is there really any value in holding out for “true love”? I very much doubt so.
And this time around, the search for “true love” is becoming fatal for Singapore as a nation. Yes, I’m talking about birth rates.
To be continued
Tuesday, August 17, 2010
To be or not to be? That's not a good question.
Career choices and disciplines of study - don't be choosy.
My daughter, Aileen's appeal to study business didnt go through. For weeks she had been calling the admissions week once every few days, anxiously praying for the magical, long-awaited "yes". She had obviously been clinging on to false hope, which worried me tremendously. She had never been one to take disappointments well. She hasn't come out of her room ever since she found out today that she was, after all, going to have to study science. I'm going to check on her later.
Her attitude towards science also gets me quite worried about Singapore’s future. Drawn by the ridiculous pay in sectors like banking, finance and consulting, hordes of young undergraduates flock to the same few faculties like business and economics. Of course, the traditionally prestigious and well-paying careers of law and medicine also regularly draw floods of applications to their respective faculties in the local universities. Then there are so many critical professions that are instead being shunned by youths nowadays, and the low numbers show it. Who's going to be our nurses, engineers, civil servants, teachers and journalists? Who's going to build our roads, care for the greying population, and run the country? Just because a job doesn’t pay well doesn’t mean it’s not needed.
It's just a job.
None of this would have happened if people would only swallow their pride, adjust their salary expectations, and just gratefully take whatever vacancy or offer that they can find. Honestly, it's just a job. Take what you have and be happy. Not everyone can be a millionaire, but everyone needs to make a living. Also, these vacancies need to be filled, whether you like it or not. It’s the only way our educational and labour system can function properly to serve our nation's manpower needs.
But so many youngsters want glamorous, high-paying jobs. Just take a look at this article:
WHAT'S with university-bound young Singaporeans and their penchant for business degree courses?
You have science students who want to go into finance. Engineers who want to go into finance. What a waste of taxpayers’ money. Now we have labour shortages in engineering and other critical sectors!
Engineer Shortage Worries Asian Execs
"Glamour" and "prestige"
Okay, maybe the desire for good pay isn’t too bad when you compare it with the infinitely more ridiculous desire among young people to go into “glamorous” jobs. In other words, people want jobs to boost their egos. There is absolutely no rational explanation for this.
Just a few Saturdays ago, the Straits Times had to do devote an entire section to promote engineering as a glamorous, cool, noble, and even sexy profession! As an engineer myself, I can safely say it's none of those! When do I even get to be sexy or wear nice clothes to work? Our projects keep us engineers busy enough as it is. That's the reality for any profession. Yet young people cling on to this notion that their lives would be magically enhanced if everyone else goes "wah" when they mention their jobs!
So because of these twin temptations of money and glamour, Singapore is at a manpower crossroads. We need foreign skilled labour more than ever, but this is not sustainable. We need our own people to put aside their dreams of wealth and consumption, and just take on whatever careers that need to be filled, and do the job to the best of your ability.. Take it from someone who’s seen everything. At the end of the day, it really is just a job, and your job isn’t your life.
JobsFactory Employers of Choice for Entry Level Graduates
My daughter, Aileen's appeal to study business didnt go through. For weeks she had been calling the admissions week once every few days, anxiously praying for the magical, long-awaited "yes". She had obviously been clinging on to false hope, which worried me tremendously. She had never been one to take disappointments well. She hasn't come out of her room ever since she found out today that she was, after all, going to have to study science. I'm going to check on her later.
Her attitude towards science also gets me quite worried about Singapore’s future. Drawn by the ridiculous pay in sectors like banking, finance and consulting, hordes of young undergraduates flock to the same few faculties like business and economics. Of course, the traditionally prestigious and well-paying careers of law and medicine also regularly draw floods of applications to their respective faculties in the local universities. Then there are so many critical professions that are instead being shunned by youths nowadays, and the low numbers show it. Who's going to be our nurses, engineers, civil servants, teachers and journalists? Who's going to build our roads, care for the greying population, and run the country? Just because a job doesn’t pay well doesn’t mean it’s not needed.
It's just a job.
None of this would have happened if people would only swallow their pride, adjust their salary expectations, and just gratefully take whatever vacancy or offer that they can find. Honestly, it's just a job. Take what you have and be happy. Not everyone can be a millionaire, but everyone needs to make a living. Also, these vacancies need to be filled, whether you like it or not. It’s the only way our educational and labour system can function properly to serve our nation's manpower needs.
But so many youngsters want glamorous, high-paying jobs. Just take a look at this article:
WHAT'S with university-bound young Singaporeans and their penchant for business degree courses?
You have science students who want to go into finance. Engineers who want to go into finance. What a waste of taxpayers’ money. Now we have labour shortages in engineering and other critical sectors!
Engineer Shortage Worries Asian Execs
"Glamour" and "prestige"
Okay, maybe the desire for good pay isn’t too bad when you compare it with the infinitely more ridiculous desire among young people to go into “glamorous” jobs. In other words, people want jobs to boost their egos. There is absolutely no rational explanation for this.
Just a few Saturdays ago, the Straits Times had to do devote an entire section to promote engineering as a glamorous, cool, noble, and even sexy profession! As an engineer myself, I can safely say it's none of those! When do I even get to be sexy or wear nice clothes to work? Our projects keep us engineers busy enough as it is. That's the reality for any profession. Yet young people cling on to this notion that their lives would be magically enhanced if everyone else goes "wah" when they mention their jobs!
So because of these twin temptations of money and glamour, Singapore is at a manpower crossroads. We need foreign skilled labour more than ever, but this is not sustainable. We need our own people to put aside their dreams of wealth and consumption, and just take on whatever careers that need to be filled, and do the job to the best of your ability.. Take it from someone who’s seen everything. At the end of the day, it really is just a job, and your job isn’t your life.
JobsFactory Employers of Choice for Entry Level Graduates
Sunday, August 15, 2010
Brain Drain
The highlight of my day today was meeting up with an old friend, Sam, whom I had been intimately acquainted with in my varsity days. As overseas graduates, we belonged to the two thirds of the Singaporean population at our university who chose to resume our lives back at home.
Having a hearty conversation about our friends who were now overseas brought to my mind the problem of severe brain drain that Singapore has been facing in the recent years. Reports have stated that the number of skilled Singapore youth’s leaving for a better life abroad has topped a whopping 1000 each year. The exodus of 4-5% of 30% of the top 30% of our population has worried our Minister Mentor Lee Kuan Yew deeply, who prides himself on the effort he had devoted to bringing Singapore from Third World to First. He also expressed that Singapore’s emigration rate, one of the highest in the world on a per capita basis, is one of the greatest blows to the local government.
http://www.littlespeck.com/content/people/CTrendsPeople-080224.htm
The great escape
The reasons that account for this predicament are amongst many others, the higher salary levels, lower-stress work environments, opportunities for greater exposure and distinct lack of entrepreneurship in Singapore. A desire for higher payrolls and ideal job environments seemingly resonate with the high salary and job expectations that many of our young graduates harbour in this day and age. Besides, others have cited reasons falling outside the ambit of career concerns, such as the high cost of living and rigid educational system which imposes an abnormally huge burden on their children, for seeking greener pastures abroad.
It is most perturbing to know how demanding Singaporean youths can be. We bemoan the lack of entrepreneurship without comprehending the difficulties of our country in achieving high standards of entrepreneurship due to our dearth of manpower and talent. We criticise the government for setting the bar too high for our educational standards, yet do we also not realise that these government policies the ones that created the ideal educational environment that brought us to our current economic position- a skilled workforce with one of the highest literacy levels in Asia? Surely it’s not hard for supposedly educated people to recognise the irony!
We are often so idealistic, and selfish with respect to our own preferences; such has resulted in a situation where some or most of us have adopted the ‘escape’ attitude instead of courageously facing up to challenges and hardships that confront our nation today. Our problem of brain drain is only another disappointing evidence of such a phenomenon.
Other good reads:
http://www.channelnewsasia.com/stories/singaporelocalnews/view/328684/1/.html
http://www.lyen.net/gpage78.html
http://www.asiaone.com/News/Education/Story/A1Story20090428-138051.html
Having a hearty conversation about our friends who were now overseas brought to my mind the problem of severe brain drain that Singapore has been facing in the recent years. Reports have stated that the number of skilled Singapore youth’s leaving for a better life abroad has topped a whopping 1000 each year. The exodus of 4-5% of 30% of the top 30% of our population has worried our Minister Mentor Lee Kuan Yew deeply, who prides himself on the effort he had devoted to bringing Singapore from Third World to First. He also expressed that Singapore’s emigration rate, one of the highest in the world on a per capita basis, is one of the greatest blows to the local government.
http://www.littlespeck.com/content/people/CTrendsPeople-080224.htm
The great escape
The reasons that account for this predicament are amongst many others, the higher salary levels, lower-stress work environments, opportunities for greater exposure and distinct lack of entrepreneurship in Singapore. A desire for higher payrolls and ideal job environments seemingly resonate with the high salary and job expectations that many of our young graduates harbour in this day and age. Besides, others have cited reasons falling outside the ambit of career concerns, such as the high cost of living and rigid educational system which imposes an abnormally huge burden on their children, for seeking greener pastures abroad.
It is most perturbing to know how demanding Singaporean youths can be. We bemoan the lack of entrepreneurship without comprehending the difficulties of our country in achieving high standards of entrepreneurship due to our dearth of manpower and talent. We criticise the government for setting the bar too high for our educational standards, yet do we also not realise that these government policies the ones that created the ideal educational environment that brought us to our current economic position- a skilled workforce with one of the highest literacy levels in Asia? Surely it’s not hard for supposedly educated people to recognise the irony!
We are often so idealistic, and selfish with respect to our own preferences; such has resulted in a situation where some or most of us have adopted the ‘escape’ attitude instead of courageously facing up to challenges and hardships that confront our nation today. Our problem of brain drain is only another disappointing evidence of such a phenomenon.
Other good reads:
http://www.channelnewsasia.com/stories/singaporelocalnews/view/328684/1/.html
http://www.lyen.net/gpage78.html
http://www.asiaone.com/News/Education/Story/A1Story20090428-138051.html
Thursday, August 12, 2010
Job expectations
I arrived at work early this morning to find an email alert from my boss- the young manager
working just two doors down from my workspace had submitted his letter of resignation and
will be leaving our company by the end of this month. The news was rather surprising to
me at the first instant for he had only been working here for a measly 6 months. I was then
reminded of an article I had perused on The Business Times just 2 months ago.
http://www.asiaone.com/Business/News/Office/Story/A1Story20100614-221971.html
The article reported that a recent Hewitt Associates survey reported that Singapore had the
highest proportion of firms bracing themselves for a rise in voluntary attrition out of several
Southeast Asian countries they had interviewed. My company had not been exempted from
this phenomenon either. In an effort to retain talent and attract the best out of the talent
pool in the external market, enhancements were made to our salary packages in the way of
leisure and entertainment benefits, and even opportunities for international postings, but to
no avail.
Our workforce has indeed grown to become highly mobile in the past years, with ‘fence-
sitters’ – those willing to switch jobs once new offers arise – making up a significant 51 per
cent of those surveyed, compared to just 33 per cent of our global peers. Such statistics
bring to my mind a few questions; are our young graduates demanding too much of their
work environment and prospects? Also, at the same time, it almost seems as if we nitpick
at every flaw and seize every opportunity to change our jobs whenever work circumstances
become harsher.
Aspirations vs expectations
People today need to distinguish between aspirations and expectations. For some people,
aspirations and meaning in work may be a positive motivation. (I personally disagree –
more on that later.) A civil servant may be motivated by a sense of public service; a doctor
may be driven to save lives; a researcher could dream of curing cancer. As long as they’re
realistic about their jobs. We may crusade towards lofty aims in our work, however that is not
tantamount to having high expectations, in the sense that we settle for nothing less than an
ideal work environment and demand to be richly rewarded as a matter of right. How is such
a generation, with much verve but minimal commitment and hunger for success, to survive
and achieve economic progress in the long run?
‘Expectations gap’
Such foolish attitudes have brought misery upon so many. During the recession last year,
many retrenched workers remained unemployed despite the opportunities available to them
in the job market due to this ‘expectations gap’.
http://www.channelnewsasia.com/stories/singaporelocalnews/view/406377/1/.html
Yes, people would rather have their families go hungry than suffer the injustice of receiving
salary for work they may not enjoy. Harsh realities demand that we should manage our
expectations in line with the economic situation and opportunities available to us. It is time
we learnt to settle for less.
Backbone, or the lack thereof
Maybe the problem isn’t just high expectations. I think it’s also because youths just aren’t
as tough as they once were. They’ve been brought up to believe in the importance of job
satisfaction – which, as anyone in who’s worked long enough would attest, is usually a myth
in reality. They can’t handle the disappointment they feel upon learning this reality, so they
keep chasing after this illusion. Boss too tough and demanding? Call in the job lobangs
from their friends! Bored to tears by the monotonous work? Follow their “passion” and find
another field! What must their poor parents be thinking, after working their butts off for half
their lives putting these privileged youths through school? These youths need to wake up
and learn some of their parents’ good work ethics. Be thankful you’ve found a job, and stick
it out till the end, even if it’s not to your liking.
Be it high job expectations or a lack of backbone, we should always remember that, first
and foremost, the main purpose of a job is to feed you and your family. The income stability
that a job provides should be the most important consideration. It’d be quite selfish to think
otherwise. Apply for jobs, find the one with the best pay and best prospects, and stick with
it – don’t overthink, don’t blink, just grit your teeth and do it. If your job isn’t your “passion”,
join the club! It’s not the end of the world, you could still pursue your “passion” in your spare
time.
working just two doors down from my workspace had submitted his letter of resignation and
will be leaving our company by the end of this month. The news was rather surprising to
me at the first instant for he had only been working here for a measly 6 months. I was then
reminded of an article I had perused on The Business Times just 2 months ago.
http://www.asiaone.com/Business/News/Office/Story/A1Story20100614-221971.html
The article reported that a recent Hewitt Associates survey reported that Singapore had the
highest proportion of firms bracing themselves for a rise in voluntary attrition out of several
Southeast Asian countries they had interviewed. My company had not been exempted from
this phenomenon either. In an effort to retain talent and attract the best out of the talent
pool in the external market, enhancements were made to our salary packages in the way of
leisure and entertainment benefits, and even opportunities for international postings, but to
no avail.
Our workforce has indeed grown to become highly mobile in the past years, with ‘fence-
sitters’ – those willing to switch jobs once new offers arise – making up a significant 51 per
cent of those surveyed, compared to just 33 per cent of our global peers. Such statistics
bring to my mind a few questions; are our young graduates demanding too much of their
work environment and prospects? Also, at the same time, it almost seems as if we nitpick
at every flaw and seize every opportunity to change our jobs whenever work circumstances
become harsher.
Aspirations vs expectations
People today need to distinguish between aspirations and expectations. For some people,
aspirations and meaning in work may be a positive motivation. (I personally disagree –
more on that later.) A civil servant may be motivated by a sense of public service; a doctor
may be driven to save lives; a researcher could dream of curing cancer. As long as they’re
realistic about their jobs. We may crusade towards lofty aims in our work, however that is not
tantamount to having high expectations, in the sense that we settle for nothing less than an
ideal work environment and demand to be richly rewarded as a matter of right. How is such
a generation, with much verve but minimal commitment and hunger for success, to survive
and achieve economic progress in the long run?
‘Expectations gap’
Such foolish attitudes have brought misery upon so many. During the recession last year,
many retrenched workers remained unemployed despite the opportunities available to them
in the job market due to this ‘expectations gap’.
http://www.channelnewsasia.com/stories/singaporelocalnews/view/406377/1/.html
Yes, people would rather have their families go hungry than suffer the injustice of receiving
salary for work they may not enjoy. Harsh realities demand that we should manage our
expectations in line with the economic situation and opportunities available to us. It is time
we learnt to settle for less.
Backbone, or the lack thereof
Maybe the problem isn’t just high expectations. I think it’s also because youths just aren’t
as tough as they once were. They’ve been brought up to believe in the importance of job
satisfaction – which, as anyone in who’s worked long enough would attest, is usually a myth
in reality. They can’t handle the disappointment they feel upon learning this reality, so they
keep chasing after this illusion. Boss too tough and demanding? Call in the job lobangs
from their friends! Bored to tears by the monotonous work? Follow their “passion” and find
another field! What must their poor parents be thinking, after working their butts off for half
their lives putting these privileged youths through school? These youths need to wake up
and learn some of their parents’ good work ethics. Be thankful you’ve found a job, and stick
it out till the end, even if it’s not to your liking.
Be it high job expectations or a lack of backbone, we should always remember that, first
and foremost, the main purpose of a job is to feed you and your family. The income stability
that a job provides should be the most important consideration. It’d be quite selfish to think
otherwise. Apply for jobs, find the one with the best pay and best prospects, and stick with
it – don’t overthink, don’t blink, just grit your teeth and do it. If your job isn’t your “passion”,
join the club! It’s not the end of the world, you could still pursue your “passion” in your spare
time.
Thursday, August 5, 2010
Salaries fit for a king
Today, my good friend David sent me some articles that almost made me fall off my chair. JobsDB recently did a survey on Singaporean kids aged 7-14, asking them about their dream jobs and salary expectations.
http://www.jobsdb.com.sg/singapore/campus/campusnews-dream-jobs-of-singapores-youth.htm
No, the shocking thing isn’t just that 7 year-old kids are already dreaming about salaries. The most alarming thing in the article is that monthly salary expectations range from $2,000 to – wait for it – $60,000.
Yes, $60,000.
Now, I sincerely hope that this figure came from a 7 year-old and not from a 14 year-old, because we’re in big trouble if our kids don’t become get a better sense of reality as they grow older.
Oh wait – apparently, some don’t, even after they’ve started working.
http://marketing-interactive.com/news/19913
“A quarterly survey of nearly 3,000 Singapore-based employees by international search firm Berkley Recruitment Group has revealed that 37% expect a pay rise of 5% or more as the economy recovers.
While 15% of respondents do not expect any pay raise this year, slightly over a quarter polled are optimistic enough to expect a pay raise of 10% or more. The positive sentiment shared among respondents in Singapore is significantly higher compared to their global counterparts with only 16% expecting a pay raise.”
Let’s face it – we’re asking for too much pay. Of course, you may ask, who doesn’t want more of that moolah? I agree that’s normal. But why are we so grossly greedy compared to other countries? Our expectations are just obscene, and they will hurt us if we don’t do something about them.
One consequence of this is already happening. There’s an increasing propensity on the part of employers to hire expats from countries such as China and India. Some people, such as Adam Khoo, has even gone so far out as to predict that they will ‘rule’ Singapore in a decade or so. It’s easy to see why. Their salary expectations aren’t Singapore-style exorbitant. Their humility and willingness to learn are values which are largely deficient in the current generation of youth, and many demand instant gratification for meagre work they have done without being able to truly understand the virtue of patience and the need to sow the seeds but reap the harvest later. Can Singapore truly remain competitive if our people don’t start learning some humility from these foreigners? I don’t think so.
http://www.jobsdb.com.sg/singapore/campus/campusnews-dream-jobs-of-singapores-youth.htm
No, the shocking thing isn’t just that 7 year-old kids are already dreaming about salaries. The most alarming thing in the article is that monthly salary expectations range from $2,000 to – wait for it – $60,000.
Yes, $60,000.
Now, I sincerely hope that this figure came from a 7 year-old and not from a 14 year-old, because we’re in big trouble if our kids don’t become get a better sense of reality as they grow older.
Oh wait – apparently, some don’t, even after they’ve started working.
http://marketing-interactive.com/news/19913
“A quarterly survey of nearly 3,000 Singapore-based employees by international search firm Berkley Recruitment Group has revealed that 37% expect a pay rise of 5% or more as the economy recovers.
While 15% of respondents do not expect any pay raise this year, slightly over a quarter polled are optimistic enough to expect a pay raise of 10% or more. The positive sentiment shared among respondents in Singapore is significantly higher compared to their global counterparts with only 16% expecting a pay raise.”
Let’s face it – we’re asking for too much pay. Of course, you may ask, who doesn’t want more of that moolah? I agree that’s normal. But why are we so grossly greedy compared to other countries? Our expectations are just obscene, and they will hurt us if we don’t do something about them.
One consequence of this is already happening. There’s an increasing propensity on the part of employers to hire expats from countries such as China and India. Some people, such as Adam Khoo, has even gone so far out as to predict that they will ‘rule’ Singapore in a decade or so. It’s easy to see why. Their salary expectations aren’t Singapore-style exorbitant. Their humility and willingness to learn are values which are largely deficient in the current generation of youth, and many demand instant gratification for meagre work they have done without being able to truly understand the virtue of patience and the need to sow the seeds but reap the harvest later. Can Singapore truly remain competitive if our people don’t start learning some humility from these foreigners? I don’t think so.
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