10/18/2007
one flew over the cuckoo's nest
Employer or employee's market?
Few months ago it was reported in the msm that employers are willing to pay many times more for good candidates. And employees can expect higher remuneration with more pay rises. Today it is reported that employees are asking for 10% more than employers are willing to pay and employers are unwiling to pay.
It also said that Singaporean employees are now aware of their value because they were bilingual and can seek employment in China and Hongkong. Wow, bi lingual Singaporeans can now flock to greener pastures. And the vacant positions that are paying lousy money can go to the monolingual FTs.
So Singaporeans can all fly away from their nests to earn big bucks in foreign soil and the their nests can be taken over by the cuckoos.
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4 comments:
If you are "worth more" in the marketplace for employment, you will always be in a position to command higher pay.
The global demand for "good people" is robust, as the global economy is in an excellent state despite "issues" like high oil price, deflated USD and over valued real estate and stock markets.
Everyone wants the "best" price for what they value, because everyone acts in their own self-interest; so:
Employers—offer the (best) lowest price possible
Employees—bid the (best) highest price possible
...and so people "negotiate" until they come to something they can agree on, or not. Bids and offers, thats how all markets work.
If you are an employee, it makes perfect sense to obtain the BEST DEAL for your labour services. Don't let sarcastic folks like redbean bully you into feeling "guilty" that you can get more money and more freedom than someone less capable.
You have one life—and in my opinion, you should live it as (rationally) selfishly as you possibly can. Always act in your own best interest, regardless of the "emotional blackmail" you will get (rest assured) from some folks out there—folks who want you to CHANGE to their "idea", so that they can somehow feel "validated".
applicable only in an efficient market.
redbean cannot bully anyone here. everyone here has a mind of his own and will be able to assess what i posted and what is best for themselves.
The only truly "efficient" markets are free markets. But it also depends what you mean by "efficient".
However, markets will function whether they are free or not, because they are drive by the "selfish desires" of consumers willing to part with cash to get something. i.e They are DEMAND DRIVEN.
I've previously demonstrated this phenomenon of DEMAND drive with examples of illegal drugs, and street prostitution.
Other markets which are "hampered" (by rule of law) but keep on working everyday: contraband cigarettes, hired killers, loan sharking, cheating spouses, etc.
Similarly for wages: if the govt drives up the market price by trying to "out bid" the private sector, there'll be a general rise in the cost of wages (professional).
you think politician's pay is operating under a free market system? or for that matter the pay of doctors and lawyers?
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