Jobs Credit and PRs
The old media is reporting that employers are elated that the Jobs Credit scheme isn’t yanked out from under them but rather its slowly being phased out over the first two quarters in 2010.
Let me relate a story I’ve heard on the ground…
When the bad markets came like a typhoon at the end of 2008, this local Singaporean-run company with 60% of their staff strength being foreigners and PRs, quicky implemented their MVC salary cut for an undetermined period.
When announcing it, the HR person prepared a long set of slides and tried to explain their actions to the group of now-unhappy employees. It mostly meant “we need to cut as much cost as we can”, which mostly resonated aming the workers as “you’re getting a pay cut”.
Then the HR person added something of a gem that was deliberately left out on the slides:
For those of you who are not citizen or PR, please go and apply for PR. Help the company save some money.
This is how seemingly well-intentioned policies affect Singapore.
