Oil & Gas Crisis – Time to Take On More Work Even with No Pay Raise!
As mentioned before, the company I worked for was acquired early this year. Incidentally, one expat colleague resigned and I was asked the possibility of taking over his job. Apparently I was given a choice to continue what I had been doing or to take on the additional job scope.
There is neither promotion nor pay raise for doing the work of two employees!
I “stupidly” agreed to take on more work!
No Time, No Time, & Still No Time
Since taking up the “lousy” new offer, I had so little time. For the past month, I was traveling for three weeks and the week when I am in Singapore, my schedules were packed with overseas colleagues visiting, taking up my personal time at night for the whole week too.
During this period, I became sick twice. Time for family and children shrunk, so are time for investments and blogging.
So Why Take Up The Offer? Worth it?
When Times Are Bad, Do More!
Without any explanation, we are all aware that Oil & Gas Industry is facing one of the toughest times. Unfortunately for me, I have been an “Oily Man” since graduation. Retrenchments and restructuring are already widespread lately within our industry.
While our company is doing extremely well in the last few years earning lots of profits, the strong headwinds resulted in order intake dropping drastically and backlog orders drying up. From a business point of view, layoff is only a matter of time.
It is anticipated that restructuring will take place mainly in Europe where the primary workforce is. The top management has identifies Asia as the region of growth in our five-year plan ahead, so I doubts that Singapore office will be affected by the restructuring process.
Still, it is evident that in times like this, it is better to do more with fewer complaints.
Thus it is only natural for me to take on more work scope. It seems like the wisest choice for me now!
When Times Are Bad, Learn More!
After the acquisition, our company size grow more than ten folds so are product portfolio and colleagues. In depressed time like this, it is often so difficult to sell more. The best option now is to “Learn More”!
Having an engineering background and previously worked as an engineer, I am always interested in new technologies. Our company is in the forefront of technology innovation with more than 350 years history.
Hence this presents the best opportunity for me to learn as much as possible on the expanded product portfolio.
The Best Time to Establish Client Relationships
I had learnt during the GFC, that one of the most important post-crisis things to do is to establish good relationships with clients. Yes… establish good relationships with clients even if they have no potential orders for you now.
Many people or companies are downright pragmatic that they do not want to waste time with clients without near term potential orders. But, please remember that Market occurs in cycles.
The bad times do not last forever. If you visit your clients frequently and help them now during difficult times, I am sure they will remember you more and reward you with more orders when market turnaround for the better later.
Taking on a wider job scope allows me to make foray to new client base and presents the best opportunity for me to establish new strong relationships with them.
Good Time to Establish Internal Relationships
Many employees are always focused on “External Clients”, that they neglect the importance of internal colleagues, whom I classify as “Internal Clients”. The latter is even more important if you are working in a corporate MNC environment with hundreds and thousands of colleagues.
It is common that you will often receive emails from people you hardly know internally and asking you for favours. It will take up lots of your time and sometimes very frustrating when you are busy with external clients. If you choose to ignore them or not take them seriously, one day the internal colleagues you ignore may well end up to be someone critical in deciding the fate of your promotion or dismissal.
So, take good care of both your External & Internal Clients! The crisis now is the best time to do so.
So in a nutshell, Do More, Learn More & Establish More Relationships! The Crisis may well be Opportunity just like the Stock Market.