By today (9thJan,2013) many companies may already paid the annual year end bonuses to their staff for a good work or performance achieved in fiscal year 2012.Ramli heard that in Malaysia those in the Oil&Gas sectors are rewarded handsomely about 4 to 6 mths bonus of their monthly salaries and some even as high as 12 months bonuses!
In the Govt they are promised 1 month bonus or RM500 minimum.
Usually many of those companies with Collective Agreements (CA) in place will agree on a minimum of 2 months bonus irrespective of the company actual business performance!
For Entrepreneurs the commitment to reward their People for a good performance by paying bonuses is a norm and many Entrepreneurs do reward well their staff especially the Top Mgmt with bonuses in Millions of USD or GBP and even SGD.Stories of Top Mgmt being paid millions of USD is common in USA and some even argue that the perks given to Top Executives are just too much and not a good practise!
Prof.Peter Drucker once cautioned Top Mgmt that the salary of the lowest excutive and the No.1 Boss must not be more than 40 times.So if a lowel executive is paid USD 2000 a month then the No.Boss must received a maximum monthly wage of USD 80,000 but that is not the case anymore in USA.Now they have the so called “Celebrity CEOs” whose salaries and perks are at their likes and wishes!Why pay so much then?
Celebrity CEOs can help make lots of profits to a company BUT also can lose Billions of USD to their companies or worst still make the company bankrupt!
Now,the World economic condition is really bad and like in Europe many countries have gone bankrupt and going to become bankrupt!Why?
People and the country have lived in excesses and they reportedly spend more than what they actually earned!So when there is no frugality and wise financial control,any country small or big can go out of control and bust!
Financial Experts need to study all the conditions and what actually caused all these financial problems and what are the people bad habits or poor money management and control?
Being paid good and high bonuses is a blessing actually and thank Allah SWT for being in the profitable sectors or industries and you get paid high bonuses rather than those in the slow and poor performing sectors.Lets hope paying good bonuses can see better performance with the Best Quality,Higher Productivity,Eliminate wastages and reduction of costs,Safer working environments,Higher Morale at work and great Team working and many more tangible and intangible benefits realized.
The habits of saving must be promoted more and more and less credits cards issued and more savings accounts or products introduced to the people!The more we save will be better than the more we spend at least we are debt free all the time! Cash is KIng in business and those companies that have good cash hoards are better off making new investments and increasing their assets and produce a better Balanced Sheet with more blue inks than red inks!
Say thank you to your company (esp the Business Owners/Entrepreneurs) who make sure the company runs well,make profits and make happy employees by paying their salaries,safe guarding their employment and paying good bonuses every end of the year!
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