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Monday 18 August 2008

Looking for a new job

Oh, let's assume someone has found a new job. Now, what to do? The company makes an offer. You are the chosen one. But does it end there? Is it really what you want? Is it really better? There is no telling for sure, but here are some hints on what to do and what not to do.

  1. Make darn sure that the offer letter provided, an actual signed copy, black and white. You must have one copy. If you accept after much deliberations, sign it and return one copy. Fair enough.
  2. For fuck sake, never accept anything verbally only.
  3. Offer letter must have your salary and position hired. If possible, ask for a job description too.
  4. What is the probationary period? What happens if you are not confirmed after this period? What's the extension limit on the probationary period? Is the termination clause clear and fair?
  5. Check on the other benefits. Confirm that amount of annual leave. Are you allowed to carry forward the leave? Medical leave and benefits? Any monthly car park passes? Over-time policy clear? Working hours clearly stated? Don't demand for all of this, but please do make damn sure you have taken them into consideration.
  6. Check how profitable has the company been. Do ask them. What's their business plan or direction? In other words, try your best to do your due diligent that the place won't go bust. First, ask them if they have been profitable and how much is their turnover.
  7. Next, get the company registration number. Go to www.ssm.com.my. Search them up and get a report on the company from SSM. You can either visit a SSM branch or via website.It will cost RM 15 but it will be worth it.

    If you want to use the Internet to get the company's report, go to http://www.ssm-einfo.com.my/uni/findroc.php. Best if you have the registration number (such as 3121-X) or the name of the company. You will need a credit card too for online transaction. It's secure enough, IMHO.
  8. Now, study the report from SSM. Do look at their profit and loss, and the financial state of the place. If no information is found (ie, the company has not submitted it annually) - well, I suggest you forget working for such a chinaman place, unless they pay darn well. Darn well is defined as at least 35% more than market value of your salary.
  9. If it is a listed company (Berhad) - good news. You don't need steps 7. Just get your information from www.bursamalaysia.com. Annual reports are available. Statement from Bursa can be more accurate as they are somewhat properly audited. Better than some private limited companies.
  10. Caveat - some private limited companies are known to manipulate their accounts. They will always post a profit and pay some tax. They will never post a lost. They will never post a large profit either. But these reports will still give a picture of what's installed for you.
  11. If it is a listed company, what is the share value? Has it been falling? Any dividends lately? Do fund managers think it is a good industry?
  12. Check if they have had tonnes of staff leaving or not. If there is a mass exodus, well - do try to find out why. Surely something must be wrong.
  13. First indicator of a mass exodus. Did the company advertise for 30 vacant positions from Finance to Production? If they are, are they expanding? If not, the only reasonable conclusion has been a mass exodus. Be warned! The rats have jumped ship.
  14. Ask yourself what you really want. Is this what you want? But really, you should have asked yourself what you want before applying for the job!
  15. Never ever leave a place in spite. Make damn sure you are leaving for a better place.
  16. Try to sense if there is anything wrong. For example, if they offer you the job immediately after the first interview and request for you to start work the next day - your warning lights should start blinking. Why is it so urgent? Do they plan well? Is there a disaster looming? Most of the time, it shows really shit planning. You sure you want the place? I am not suggesting you don't take the opportunity, but please make an informed decision!

I sure hope this helps. I doubt if the list is comprehensive, but it should be the minimum checklist for due diligence for job seekers.

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