Non-technology related
I was writing some blogs about information technology applications and information on eatery. However, witnessing the recent meltdown of the financial world, I would like to make some comments.
Indirectly, the current turmoil will have an impact on safety and health professions. In the short term, we may deal with funding cuts, hiring freeze. Many companies will try to conserve in order to weather through this tough time. Simply put, if the economy does not get any better, there will be job cuts in the future.
When deal with financial crisis, companies like to look at the bottom line, often with very short sighted vision. Some companies may consider maintaining very high safety standard to be costly. Since it is a cost, it is to be eliminated so that the bottom line can be met!
That option is not a wise one. With any efforts, company should consider salary reduction and sharing responsibilities rather than cutting positions when facing with financial crisis. Company management can negotiate with all employees to ask for their understanding of salary reduction instead of cutting positions. By doing so, the company can later just pick up at the low point and set a full sail again as soon as the tough weather is over. If positions are cut, the experienced personnel are gone. What will happen when the economy engine is back on again with full speed? The company will not be readily competitive since experienced employees who are familiar with the operation and culture of the company are not immediately available to lead. Then, company will need more time to catch up, especially in the technical areas, as they may be already fallen so far behind and no longer competitive.
Of course, salary reduction should be done in a fair manner. The management should set a good example to include them in the process. What sort of good work ethic will it be if upper management compensate themselves with “handsome stock-options” and salaries while the hardworking employees suffer salary reduction? In addition, there should be policies or “enforced regulation” to cap the top management’s compensation at some level. The incentive of an attractive compensation is to encourage hardworking and conducting business in an ethical manner. Such incentive should not be set to exorbitant level, because such offer tends to stimulate “greed”. As experts concluded, the present financial meltdown is indirectly caused by “greed”. If company’s profits could have shared more by hardworking employees, and not too much given to a few, our economy probably in a better shape today.
What policy, when applied by some organizations worldwide, can work to prevent “greed”? One thought is: the one who has decision power will not handle the finance, and the one who handle the finance will not have power to make decision.
Thanks for reading and giving me a chance to blow off some steam. Please stay tune for my future blogs. You will find them describing useful technology that helps you do your work efficiently.