<TABLE cellSpacing=0 cellPadding=0 width="100%" border=0><TBODY><TR>Restore pay cuts when good times return
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<!-- START OF : div id="storytext"--><!-- more than 4 paragraphs -->MY COMPANY has undergone two rounds of pay cuts in three months, amounting to 15 per cent to 20 per cent of our pay.
This is not the first time in my company's history. It happened during the Sars period in 2003 as well. Senior staff took a 20 per cent pay cut then.
After that difficult period, there was no reinstatement of pay to the previous level. It took most staff four to five years to climb back to the previous level. Some chose to leave the company to look for better job prospects rather than stay behind.
The current economic downturn has affected us in a similar way. The Government encourages companies to cut pay in order to cope. However, it did not mention if these companies should reinstate pay levels when good times return.
Most companies, especially local small and medium-sized enterprises, will behave in the same way as my company. And most employees will understand this and endure the initial pay cut in order to protect their rice bowls.
However, when good times return and pay cuts are not restored, these staff will surely leave the company in search of better job prospects.
I am writing this letter to highlight the plight of this group of people, including myself.
I can even conclude that the Government will not ask employers to restore pay when good times return. It will say that this is entirely up to employers.
Alex Yip <!-- end of for each --><!-- Current Ratings : start --><!-- Current Ratings : end --><!-- vbbintegration : start -->
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<!-- START OF : div id="storytext"--><!-- more than 4 paragraphs -->MY COMPANY has undergone two rounds of pay cuts in three months, amounting to 15 per cent to 20 per cent of our pay.
This is not the first time in my company's history. It happened during the Sars period in 2003 as well. Senior staff took a 20 per cent pay cut then.
After that difficult period, there was no reinstatement of pay to the previous level. It took most staff four to five years to climb back to the previous level. Some chose to leave the company to look for better job prospects rather than stay behind.
The current economic downturn has affected us in a similar way. The Government encourages companies to cut pay in order to cope. However, it did not mention if these companies should reinstate pay levels when good times return.
Most companies, especially local small and medium-sized enterprises, will behave in the same way as my company. And most employees will understand this and endure the initial pay cut in order to protect their rice bowls.
However, when good times return and pay cuts are not restored, these staff will surely leave the company in search of better job prospects.
I am writing this letter to highlight the plight of this group of people, including myself.
I can even conclude that the Government will not ask employers to restore pay when good times return. It will say that this is entirely up to employers.
Alex Yip <!-- end of for each --><!-- Current Ratings : start --><!-- Current Ratings : end --><!-- vbbintegration : start -->
