Many non-essential businesses have been affected in recent months due to COVID-19. The final blow came when the Circuit Breaker was launched and many businesses had to stop their operations. The company that I am currently working in is affected too, as we are in the audio equipment distribution industry, and most of our sales come from the electronics retail stores.
With this season of fear and uncertainty, many companies start cutting down on their costs, and the easiest way to do so would be to cut down on the variable costs – cost on part timers. Yet, my bosses are looking beyond the numbers on the lowered sales forecasts and cashflow. Instead, they are looking out for every single employee. Thus the initiative, #TCcares, was launched.
With #TCcares, majority of the promoters will still be paid 50% - 100% of their monthly pay, even though they are unable to work this season! This initiative covers the ex-promoters too, who have stopped working due to practical reasons. One of the reason behind this initiative is that most of our promoters are below 21 years old. Thus, they would not be able to qualify for the $600 solidarity payment that the government is giving out. Also, my bosses challenged the full time staffs to pledge and contribute part of our solidarity payment, and the company will match dollar-for-dollar to the staffs’ contribution.
I believe that this initiative is really unseen and unheard of. I used to work for a big audit company and I have audited many clients. Coming from an audit background, every company that I have seen and worked with aims to display an appealing audited financial so that it reflects well to others. On the other hand, the current company that I am working in, Tat Chuan Acoustics (TC), is just a SME. We are no multi-million dollar business.
As a management accountant in TC, I get to see first-hand how the financials are affected due to Covid-19 and Circuit Breaker. However, instead going into self-preservation mode, my bosses are looking out for their employees like their family members! I really see the TC’s value of “people over profits” displayed right in front of my eyes. There’s so much significance working in TC and accounting is no longer just about excel sheets and profitability anymore - it’s about being a blessing to others.