Last week, I heard former Labor Secretary Nieves Confesor, now an AIM professor, declare before a group of senior executives, the arrival of a new workplace with its new realities. However, today, May 1, we are bound to see old economy labor leaders waving red banners and screaming the tired old ideological battlecries.
But not to worry, Ms. Confesor says, these labor unions are about to go the way of the dinosaurs. And just to calm my skepticism that she is right about the new workplace and its new ethos being relevant to us, she goes further and says that even in this labor surplus economy of ours, change has started to take root.
And she says, the new workplace is all for the better. It promises a more fulfilling work experience for the worker and imposes a greater sense of social responsibility upon the employer. The new workplace will also give us greater competitiveness in a globalized international market. Those who delay adapting to this new environment do so at their own risk.
Where do we start? If Ms. Confesor can have her way, she will totally overhaul the labor code. It has so many old economy restrictions that are anachronistic in the new, fast changing high technology environment. For instance, why should there be any restrictions on the number of hours in a workday?
Having a life is now as important as having a job. So if a working mother wants to work only four hours a day to be with her children, why shouldn't that be possible? The new workplace allows two or more people to share one job. Or if one wants to work at home by telecommuting, why should he or she be forced to go to an office? And what's wrong about contracting out non core jobs?
And there are other things too that need rethinking. Retirement packages are passé, she says, because the knowledge workers today move around a lot more than their fathers and don't look very much beyond three years or so. Loyalty has been redefined because to the new worker, job fulfillment is most important.
Job security also has a new meaning. Lifetime employment is not expected of companies. Rather, companies are expected to continually train their employees so that they are employable in other divisions or in other companies when downsizing time comes.
Adversarial labor-management relations are of the past. Labor and management are now increasingly finding out that working together to make the workplace pleasant pays dividends. It is not just a question of assuring the annual pay increase but assuring competitiveness of both the company and the employee.
Knowledge or competence is the new currency of the new economy, Ms. Confesor says. The new generation worker trades on his competence and is responsible for his own morale.
The new workplace sounds great, but maybe a bit too idealized for me. The new workplace can now be found in the United States and some leading industrial countries. Maybe a few local corporations have started to plant the seeds for the new workplace. But how long will it take for the local labor environment to so bloom?
I also worry that because our educational system has proven itself grossly inadequate to carry out the task of training our children for the new economy workplace, we will just be left further behind our neighbors in ASEAN.
It is good to reflect on the new workplace today, labor day. But just as Jose Ma. Sison is probably the only remaining communist leader in the world today, our labor unions will probably be the holdouts in the fast changing world labor environment. That should explain the tired rhetoric and the red banners you will see in the streets and on the television evening news tonight.
That is the reality of our lives in these islands.
The fall of Urban Bank was most unnerving because of its timing and the good reputation of its management. There had been a long drought for good news to drive our stock market up. Now, this. While it may not be a major bank, it is a pretty high profile bank that people thought was safe and professionally managed. It isn't an Orient Bank, for one thing. Or so we thought.
Urban Bank is a typical victim of the Asian crisis, belated. Its downfall was due to its large exposure to the property market. Between its stake in Fort Bonifacio and its impressive headquarters building, Urban Bank lost its bearings as a bank.
Ironically, it is closely identified with former President Eddie Ramos, whose claim to fame were his supposedly spectacular achievements in the economic sector. FVR is also the bank's chairman emeritus and holds office there.
Archit Bartolome and company just made some very bad decisions with large investments in real estate. Now, as he puts it, the party's over. I would not be surprised if Archit and company managed to get most of their liquid assets out of the bank before the holiday. Left holding the bag are Urban Bank's corps of loyal clients who deposited their funds out of trust and confidence with bank's principal owners and managers. Government financial institutions are also out on a limb.
Hate to be in Archit's shoes. Once upon a time, he was the banking industry's superman. He was FVR's choice to head PNB. And now, we have also been told that PNB under FVR's watch was badly managed. But the loss of Urban Bank weighs heavier on Archit since it was the bank he nurtured through the years.
Let us hope it gets a white knight soon. Come to think of it, edifice complex is a serious disease that bankers get. With all the bank mergers and downsizing lately, we have a surplus of very impressive bank headquarter buildings today. Moral of the story is, never forget that the core business of banking is banking and not real estate. I'm sure Archit and his boys will not be the last bankers to make that miscalculation.
Ayan kasi... sabi ng sabi na least affected tayo ng Asian crisis. Yun pala sobrang delay lang.
Here's a health tip from the ABCNews website on Men's Health.
If sex doesn't help you doze off, try socks. Warming your feet may help you fall asleep faster. Swiss researchers found that men fell asleep quickest when their hands and feet were warmest. Warm feet and hands cause blood vessels to enlarge, allowing more heat to escape your body, which in turn lowers your core temperature faster and causes you to nod off sooner, explains Anna Wirz-Justice, Ph.D.
That sure beats having to take a sleeping pill. I tried it and it works.
Dr. Ernie Espiritu e-mailed this one.
The doctor approached the husband who was in the waiting room while his wife was being examined.
The doctor said, "I have good news and bad news."
"What's the good news?"
"Your wife has syphilis."
The husband exclaimed, "What could possibly be bad news with a "good news" like that!?"
The doctor replied, "She didn't get it from you."
(Boo Chanco's e-mail address is boo@pinoycentral.com.)