Modernisation impacts on people’s employment

SHAH ALAM - The pivot in technology development is one of the factors people prefer to work for themselves instead of getting employed by companies.

Fatanah Ventures Chief Executive Officer Dr Wong Jeh Shyan said previously, people were told to study well and get a good job but right now the table has turned as people took advantage of the modernised technnology to build their own businesses.

"We were told to study hard and get a good job but when you reach your 40s, you might get retrenched.

"We do realise there is a big shift in this whole thing and today people don’t want to come to work anymore,” he said during an exclusive interview with Sinar Daily at Modern Tycoon Masterclass last week.

By looking at the current situation where people preferred to work for themselves, Wong did not argue, but in fact he supported the decision made by the individuals.

He said, it was better to go back to entrepreneurship and learn something marketable.

Wong, who had experienced working in United States, Singapore and South Africa also said that Malaysians preferred to work abroad because of the currency which was more lucrative compared to here.

It was also the same case for the employers who preferred to hire foreign workers instead of locals because of the difference in cost.

"Most entrepreneurs will maximise something and get someone who are cheaper, which is why they tried to bring foreign workers.

"Now I think the world has changed a bit and we need to learn to accept this is a new business,” he said.

Wong advised business owners in the current economy should make a different value proposition for their companies.

It was due to the high competition between SMEs and big competition in market size.