May 14, 2009

Another rant on the economic fall-out

Trying your best to survive in the midst of the global economic fall-out can be a daunting task indeed.

In fact, it is little known that the best place to be right now is here - Mi Patria Adorada!

The US economy, still buckling from financial distress, posted a 12% unemployment rate (YTD). This was never before seen on US soil even during the market crash of the '80s, some say that the continuing effects might be even bigger than the great depression of the 1930's.

The European union is sadly on the same boat. With the exception of the United Kingdom, the average unemployment rate in Europe is tapering up at 8% (YTD); UK posting 7% unemployment.

Compare all this with what the Philippine unemployment rate is at present (13.2%) and you very quickly realize that life in this 3rd World country isn't that bad after all.

Of course, no one knows what the figures would look like once the global economy swings in the up and up - but at this point, we should not be in any position to complain.

The reality is, the Philippine market, although battered, bruised, and has been in the intensive care unit since the last Asian financial fall-out of the '90s - is proving to be resilient primarily due to one factor --- our labor force.

The Philippines is known for it's westernized culture. With the country's 98% literacy rate, and the english language being a secondary language. We got what it takes to secure our place in the BPO race.

The one thing that troubles me though, is the fact that the country is showcasing Filipino labor as cheap labor - which should never be the case.

Filipinos in general, tired of the hard life, will accept anything that comes their way, as long as its enough to simply bring food on the table.

As a technologist, it's really a bitter pill to swallow, knowing that specialized expertise in the IT industry in other parts of the world is fetching much more than what they are offering us.

Indian's didn't do much to help clear this out by the way...

I remember that I once came across a statistic that for every Filipino Engineer, you get at least 2-3 Indian Engineers....

Although I am in no position to comment on their economic processes, I feel that they are doing an injustice to Asian technologist world-wide. I don't want to go on a lecturing rampage, because as you may know, I am partly biased

So, I decided to take it into myself, to pull no stops in developing my skills and expertise, as long as I can, and as prudent as I can so that when push comes to shove, I will bargain for something that I truly feel I'm worth for...

The employment market in the country is a sham... this I know, but, like what the great Warren Buffet once said - "Opportunity comes when you let it in..."

I understand if you feel that I idea like this is egotistic... but let's face it... who wouldn't want to get the dues that's right for them?

People under estimate their worth sometimes that for the sake of securing a job, they would let negotiations drag them to the ground.... and still they'd put their John Hancock on the dotted line... Pity really...

On piece of advise that my mentor told me (which was actually my boss on my very first job) does me good... and it goes like this....

"Assess yourself, find out what your strengths are and re-enforce them,
then find out what your weaknesses are and set goals to turn them around...
but most importantly, find out what your most passionate on... then pull no
stops and work your ass off to pursue them until the soreness and pain,
hurts no more....

Then, when the moment is right, bring all that you have on the
negotiation table and watch them fight amongst themselves for you..."


Bosses are like an inspirational book... They're full of insight and wisdom... you just have to develop your reading habits....

Keep learning the lessons in life... you've got an entire lifetime to do it anyway!!! =)

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