Loyalty to company with no pension (collect, bankrupt, careers, insurance)
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I was unfortunately born a millennial. Born into an awful hand, that continues to get worse with each card I'm dealt. That being said, neither the employee or the employer is loyal at this day in time. That ship sailed with the early baby boomers. When hard work and being dependable was rewarded monetarily. Now it's about who ya know or who you're willing to blow to get ahead.
In regards to pensions, I never been offered one or expected one coming into employment. It's not that I'm not willing to be loyal. It's more the case. Are you offering me a livable wage to where there's actually an incentive for me to work harder, or is it just a job where the pay is so low I basically do just enough to keep my job or really dont care if I lose it at some point.
I was unfortunately born a millennial. Born into an awful hand, that continues to get worse with each card I'm dealt. That being said, neither the employee or the employer is loyal at this day in time. That ship sailed with the early baby boomers. When hard work and being dependable was rewarded monetarily. Now it's about who ya know or who you're willing to blow to get ahead.
In regards to pensions, I never been offered one or expected one coming into employment. It's not that I'm not willing to be loyal. It's more the case. Are you offering me a livable wage to where there's actually an incentive for me to work harder, or is it just a job where the pay is so low I basically do just enough to keep my job or really dont care if I lose it at some point.
One thing's for certain. If all you do in whine and feel sorry for yourself you've never get anywhere in life. That goes for every generation. Personally I wish I was born a millennial. To me this is the best time to be alive in history and things will only get better, albeit with many bumps in the road. People like you pick and choose certain aspects to bemoan on but never look at the big picture where things are vastly better than they were in the past, for the most part.
You misunderstand my post. I am not saying women shouldn't work. It's just an economic fact that when you have an additional 50% of the people added to the labor market that the cost of labor goes down. I hope that people on here have the brains to understand Economics 101.
You still don't get it. Before the pandemic shut down, with all those additional employees, we had the lowest unemployment rate in 50 years. If the women had not entered the workplace, there would have been a huge labor shortage in this country.
Under the circumstances, those additional workers just filled the need for employees, and did not affect wages. In fact without those women working, a lot of companies could not have been able to even open.
With a lot less jobs available there would not have been pressure for wages to be as high as they were.
That is basic Economics 101.
Your posts just show your hatred for women in the workplace.
If the US Dollar were not the foreign reserve currency of choice, it's value relatively speaking would have fallen eons ago and debt costs would be much higher than they are today. We would be less leveraged, but we would have also had less growth.
If you look at the 60's, when pensions were popular, it's important to understand the almost impossible grip the United States had on total world production. It manufactured everything. It was the best quality and mass production for world consumption was all the rage. To the poorly noted point above, the golden age of the American worker really allowed for the inclusion of all groups to occur, because all hands were needed on deck. With improvements in transportation, the economies of scale expanded as well, and main street was pitted against the advent of superstores, but these superstores needed to drag workers away from smaller local companies. They still needed the talent. Family run businesses suddenly were competing with international behemoths offering a wide array of benefits and yes, pensions.
I did a ground up start-up in Shanghai a few years ago in the printing industry. To train the team we brought over a skilled bunch and the new team was amazed. They were plainly honest in the cultural setting. Once someone knew a role as well as they did, they would runaway from the company and start their own business. While it was a shocking measurement of expected loyalty, it also made sense. Workers here give their loyalty to an employer by never thinking of being a competitor. Just as obtaining the skills to start their own trade is hardwired into the average Chinese worker now, and it was once the mainstay for most of America, it has now been reversed. People want jobs, not to learn a trade. For those that would learn the trade, they are further discouraged by becoming super-specialized and seeing only a small portion of the business.
There is this fallacy in thinking that companies will lose money for their employees. They won't. Some are rudely obvious about while others hem and haw and wring their hands more publicly, but workers standing up for themselves via organizing competition are going to get far ahead of those who organize to strike.
The game is harder now. US labor must compete around the world. Office outsourcing is the new trend. It doesn't matter that it's not as good. That's what both employees and employers face. How can I offer my employees pensions and full health benefits if I have to compete with someone utilizing cheap labor overseas. Even if I offer it, what I sell is now too expensive and my company goes bankrupt. The jobs that pay well are those closest to innovation because there's no widespread competition for it yet. Google doesn't care if they overpay their facilities manager $25K a year. They care quite a bit if conditions slip and their expensive workforce can't be utilized for a few hours though.
We've been moving from mass consumption in all areas, to extreme specific customization. Any mass consumption job will be done overseas. Find your niche in trade and get awesome at it.
You misunderstand my post. I am not saying women shouldn't work. It's just an economic fact that when you have an additional 50% of the people added to the labor market that the cost of labor goes down. I hope that people on here have the brains to understand Economics 101.
You are wrong. Prior to the pandemic problem, with all those women working, the unemployment rate was at it's lowest in 50 years. Without those women working, there would have had been a huge number of fewer businesses able to exist, and without those salaries earned by women, the economy would have been in serious trouble. With less family income, the families would have been spending a lot less money, which would have lowered the income for businesses, and would produce less income they could pay in wages.
That is basic Economics 101, the opposite of what you are preaching.
I have a friend who works for a large corporation. It offered a pension AND a separate retirement plan and good insurance and other benefits. She accepted a lower salary and lower raises because of all that beefy retirement pension (the other retirement plan was okay, but not a 401k). Then after she had been there about 8 or 9 years, the company ended the pension for anyone who didn't qualify for it by a certain date (which she wouldn't). So she'd gotten paid less over the years in return for the promise of a good pension that evaporated at the whim of the company.
With a 401k, the worker has his own 401k account that he can look at. You know the vesting rules beforehand, and the money is deposited into your account monthly. Even if the employer stops offering a 401k, the worker still owns whatever is in his account (to the extent he's vested in it).
I've known a few people, including my own brother, who stuck it out longer than they might have at a company because the more years you worked, the bigger your pension. Typically the percentage of your salary that you get as a pension increased over the years, so that working 10 years at 3 different companies would get you far less in total pension than working at the same company for 30 years. In my brother's case, they honored the pension promises but the retiree health insurance went from 100% to zero. They just got a letter saying no more retiree health insurance as of 1/1/2018 and that was that.
I have mixed feelings about 401(k)s. Yes, they're portable and for that I'm grateful. I also had one employer, a class act, that had terminated its pension plan to new entrants before acquiring my company, but those of us not eligible got 6% of salary deposited in the 401(k), regardless of whether we put in a dime of our own, and in addition to a 100% match on the first 6% we contributed. But- other plans are stingier and in the end, it dumps the investment and longevity risk back on the employee, most of whom are ill-equipped to understand them.
Low wages and no benefits- the king of temp and off shoring -wants you as a slave
Hopefully with the crackdown on off shoring and unlimited immigration this will change
Young Americans don’t need a PhD they need a trade and a union
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