He is losing his job, she is going crazy & admit it that you're feeling secure during this MCO period. Why? Because you still have your job that contributes to your monthly income. But, did you know that it's just a matter of time before you lose your job & source of income too? 3 factors contribute to you losing your job: companies are closing down, the government might be having a hard time to generate money & tough choices need to be made when the budget is tight.
1. Companies are closing down.
When a company closes down, it's affected everyone - Malaysians are losing buying powers that cause sellers to lose selling powers & suppliers cannot produce products because there are more supplies than demands. This will make more & more companies close down regardless of the company business nature is services or products.
2. Government might be having a hard time to generate money.
When companies close down, fewer people have a job, more people depend on government support & at the same time government funds are running out fast to support Malaysians. Eventually, when time is tough & there are no other options: the government might need to cut down on their nonessential costs, government servants' salaries & life pension. This needs to be done to sustain Malaysia from being more heavily in debt than today.
3. Tough choice when the budget is tight.
When both companies & governments start to tighten their budgets at the same time, only key employees will still have their jobs but there is a high possibility there are salary reductions. These employees have no choice but to accept it because their alternative is losing their job too.
What can you do?
It looks petty but these are the first & most important steps: social distance, wearing a mask, washing your hands with soap & sanitising your hands regularly will prevent the spread of Covid19. Then, support to improve the local economy by continuously buying products & services: buyer-seller-supplier. Finally, you need to have savings of at least 6 months worth of salary. This will be your backup plan if you ever lose your job in the future. In the meantime, we do our best, hope for the best & together we make our country better.
