This blog is authored by an old multi-bagger blue chips stock picker uncle from HDB heartland!
"The market is not your mother. It consists of tough men and women who look for ways to take money away from you instead of pouring milk into your mouth." - Dr. Alexander Elder
"For the things we have to learn before we can do them, we learn by doing them." - Aristotle
It is here where I share with you how I did it!
FREE Education in stock market wisdom.
Think Investing as Tug of War - Read more? Click and scroll down
Can low income group tahan long enough to avoid getting the reset pay when tio retrenched?
ReplyDeleteYou is F&B boss
ReplyDeletePWM is Singapore's version of Minimum Wage ... of course govt don't want to admit.
ReplyDeleteCurrently for cleaning, security & landscaping industries.
Basically MOM stipulates mandatory minimum salaries for certain industries based on designation & type of workers. Designation or "skills" of workers to be certified by passing certain certificate courses by stat boards & agencies.
Every 1 or 2 years, MOM will review the PWM salaries and increase them --- hence the workers in these industries depend on govt for their salary increments!
For many many years since SARS, cleaners & security guards salaries also kena reset (or reduced) everytime change of main contractor or supplier every 1 or 2 years.
The main con need to keep bidding lower prices to win the contract, and then they "pass on" the reduced bid to workers' salaries.
I used to work in a GLC in the mid-2000s where the outsourced cleaners salary dropped from $800 to $600 over 4 years.
Now govt make it compulsory to follow the PWM salaries for cleaners, security guards & gardeners, grass cutters.