Saturday, March 13, 2010
Willingness to change
Many people think that the older workers are not prepared to implement change, and that younger workers are more daring.
From my observation, this trait of "fear to change" apply to both older and younger workers. In many cases, the younger workers are less willing to change, as they do not have the experience to manage change, and are more fearful of its negative impacts.
The fear to change is a large part of the cautious approach of Singaporeans, and reflects the unwillingness to take risk.
There is also a tendency to focus on the negative, i.e. "what can go wrong" rather than the positive, "what are the advantage to be gained by making the change?"
We have to go a long way to change the culture and the mindset of Singaporeans. But, it is a challenge that must be taken. For nearly three decades, we have spent time to "say the right things" but have not gone into the root of the problem.
This is the first change to make, i.e. to change our approach towards making a change.
Tan Kin Lian
From my observation, this trait of "fear to change" apply to both older and younger workers. In many cases, the younger workers are less willing to change, as they do not have the experience to manage change, and are more fearful of its negative impacts.
The fear to change is a large part of the cautious approach of Singaporeans, and reflects the unwillingness to take risk.
There is also a tendency to focus on the negative, i.e. "what can go wrong" rather than the positive, "what are the advantage to be gained by making the change?"
We have to go a long way to change the culture and the mindset of Singaporeans. But, it is a challenge that must be taken. For nearly three decades, we have spent time to "say the right things" but have not gone into the root of the problem.
This is the first change to make, i.e. to change our approach towards making a change.
Tan Kin Lian
Best places in the world to bring up kids
Australia ranked first. Singapore is second. Survey of expatriates. Read this article.
Terminate a Revosave policy
Hi Mr Tan,
I need you advice. I have a friend who bought Reovsave last November. She paid the premium in full for the year. I am thinking if it is better to terminate the plan and do investment for the rest of 25 years. What do you think?
REPLY
Ask her to send the benefit illustration for me to talk a look. But, it could be quite complicated to analyse. I will try and see what the "effect of deduction" is for this policy.
Maybe, one way of looking at this question is to see the distribution cost. If the premium paid is less than the distribution cost, it would be better to terminate the policy and save on the balance of the distribution cost.
I need you advice. I have a friend who bought Reovsave last November. She paid the premium in full for the year. I am thinking if it is better to terminate the plan and do investment for the rest of 25 years. What do you think?
REPLY
Ask her to send the benefit illustration for me to talk a look. But, it could be quite complicated to analyse. I will try and see what the "effect of deduction" is for this policy.
Maybe, one way of looking at this question is to see the distribution cost. If the premium paid is less than the distribution cost, it would be better to terminate the policy and save on the balance of the distribution cost.
Promotion at i-Shop
The Shape Quiz mini-pak (worth $2) will be given for each $10 of purchase from i-Shop. Applies to all items in i-Shop, including books and rechargeable torchlights.
Click here to view the available books and place your order.
Click here to view the available books and place your order.
Subscribe to:
Posts (Atom)