Curiosity, Thoughts and Whatever...
I'm not a regular blogger just occasionally wanna share some thoughts and ideas to the rest of the world. Hope you like what you see and written.....:))
Wow, all the government servant which include teachers and doctor's and etc are getting a pay rise of between 7.5% to 35%. That's way better than my company which is giving us only 2-3%. In addition my company which is an MNC is consider world largest. This is crap and life is getting difficult. Inflation rate is rising, my salary is stagnant and shouldering more liability and have kids to feed...............I should had become a teacher or join government servant. It really pays to join government now. Its lucrative and its glamorous. In fact I feel the G are going to increase the retirement age of male to at least to 60 while woman to 55. Its practical and its only logic. However it would had been better if private sector could follow along cause at present the retirement is at 55 which is way to young. There is still many things an employee at 50 or 55 can contribute. Just look at those top management at those listed company and at our present government structure. Our very own PM is still going strong and can lead the country after his retirement at 55. If anybody have any doubt then all our leaders should step down and make way for younger leaders.
Nevertheless, I feel it is unlikely that the private sector will ever follow to G footstep cause it involve huge cost. Take for example if you are 56 then your salary should be very high cause at 55 you might have reach saturation point. Then the company would have to fork out his insurance and medical benefit plus other miscellaneous and etc. Why would a sane company hired old timer if they can get young guys to work for them at peanuts salary. Of course unless we have created a condition whereby there is a shortage of manpower for all the industry and thus companies have no choice but to keep experience and wise staff way pass their retirement age. I don't foresee that there will be any solution on this in the near term or ever at all. FDI is already at saturation point and in fact the growth rate has been minimal.
Therefore at best the G will only extend the retirement age limit if it does not cause a deep hole in the pocket. I think its quite significant amount considering an extra 5 yrs and also other benefits plus EPF contribution and etc.
The crust of my discontent ion is on the justification for any pay rise. Beside inflation and economic sense wise, those civil servant need to raise the bar for customer relationship and efficiency. Else in the long run the whole system will crumble cause it can no longer be sustainable. Imagine the G have to fork out million and millions of dollar and yet efficiency are still on par with 3rd world country. There will be no FDI coming in and the whole country will be embroiled in bribery scandal and culture. Chaos....total chaos.........chain effect.
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