I REFER to the news report, "Bosses should take wage cut" (my paper, Nov 20). I support the guidelines proposed by the Ministry of Manpower, the Singapore National Employers Federation and the National Trades Union Congress.
I remember that when Singapore's economy was reeling after the post-9/11 period and during the Sars epidemic in 2003, ministers and senior civil servants took a pay cut.
Thus, I see the need for the senior management of companies to follow suit in order to soften the impact of the slowdown on their rank-and-file workers. Other than wage cuts, I would like to suggest that annual bonuses and other perks, such as corporate trips overseas and allowances for senior management, be significantly reduced.
I hope they will avoid flying business class, staying in five-star hotels and renting limousines during business trips, which would help companies save costs.
Other cost-cutting measures include reducing the budget for annual dinner-and-dance events and staff retreats.
Corporate gifts can be cheaper but more meaningful, and green practices should be encouraged at the workplace.
Air-conditioner thermostats should be set higher, and computers and other electronic devices, such as photocopiers and fax machines, should be switched off after all staff have left. Paper should also be recycled.
When senior management and workers share the pain of going through hard times, employees will view it as a form of support.
In turn, staff morale gets a boost.
Both employers and employees should have the same mindset and work towards a common goal.
However, I hope that when the economy turns around, employers can adjust staff salary levels to what they were in the pre-crisis period and, if possible, give a small reward to acknowledge their loyalty and commitment.
At the same time, I also hope that employees will understand that the current economic situation is bad, and not make unrealistic demands of their employers.
Instead, they should be thankful that they still have jobs and a stable income.
