What’s it worth to you?
January 10, 2010During this time of economic hardship, many businesses-both public and private- are looking at their options going forward. If one reads the papers or watches the news, they would witness a constant stream of job losses, work hour reductions, furloughs, and what appears to be a never-ending cycle of people who cannot find jobs. Those whose professions seemed relatively insulated from this topsy-turvy experience are finding out that they are not as well insulated as once believed.
In Virginia, as in most states around our country, the government is now feeling the pain that many private companies have been feeling for the past two years. Its woes are creating a trickledown effect of the worst kind. Many localities, school divisions, colleges and public safety entities are struggling to fill huge voids left behind from a budget deficit that demands cuts.
By law, Virginia has to balance its budget. It cannot play the same game that the federal government does and run deficits. Because of this economic calamity many state, city and county employees are having their lives shape in a way that was previously nonexistent.
In order to deal with the fiscal mess created, state and local governments may be forced to raise taxes in order to help stave off some of the economic consequences. As a fiscal conservative, I abhor the mentioning of increasing taxes. To me, our government’s problem is that it wastes much of what it receives from the citizenry- and the profligate spending occurs on both sides of the isle.
As much as I bemoan an increase in my taxes, I am also cognizant that such an increase may guarantee that I remain employed. So my question to my readers is “Are you willing to give up a little to keep a lot?” Tip O’Neill once said “All politics is local.” In this instance it gets no more local than your economic survival.
Interesting… normally I abhor fiscal conservatives, but I won’t hold that against you because you are a quality person whose friendship I value! In regard to your question, I am not willing to give some to get more for several reasons.
First, I did not receive a raise of any kind last year. Granted, the organization that employs me didn’t give anyone a raise, but the year before certain classifications of employees received a 10% raise while I only received a 4% raise. I could be wrong, but I’m fairly certain that inflation last year was over 3%. So, if I go without a raise for the second consecutive year, I’ve not increased my real wages in more than 3 years. My question is how much more can I give?
Second, I am excellent at what I do. Despite that fact, because I have been a good employee and have a relatively long tenure with the organization, my job is safe. The underlying assumption of economics is based on the rational actor model and fulfilling what’s in your own best interests. Theoretically, I should be rooting for mass layoffs so I can get a raise and provide for my family. If I am one of the people who actually fullfils the core mission of the organization, why should I give up anything?
Third, in banner financial years, I have never gotten a large raise. The largest I may have ever gotten is 5% several years ago. Again, management received a 10% raise the year before last while I received 4 %. Let the highest earners give back.
In answer to your question, no I am not willing to give up a cent of my income. If asked, find someone else to do my job, and good luck to you.
My question is, are you valuable enough to your company to save your job? If not, start looking now!