FEW of us work because we are crazy about that cute little dimple on our boss’s chin, because we cannot live without the outstanding view from the office window, or because innate social inadequacy renders us incapable of finding anything else we would rather be doing with our time, thank you very much.
That’s why the catchphrase ‘we’re only in it for the money’ remains current more than 40 years after it was first coined as a Frank Zappa album title, and why the words ‘pay cut’ evoke fear and loathing in the hearts of wage slaves everywhere.
Some in the shipping industry - seafarers and desk jockeys alike - have already seen salaries fall on account of the current economic downturn. Hapag-Lloyd has become the first big name to institute across the board reductions, while shipowners are still seeking to push a 10% cut through the International Bargaining Forum. That in itself will represent a challenge to the mechanism.
Sure, the market is horrible right now, and with pay the number one outlay for most operators, at first sight it seems the obvious place to save a few bucks. Those already working in shipping will probably have to like it or lump it.
But employers should not forget an underlying skill shortage that hasn’t gone away, even in deep recession. If we are serious about attracting high calibre youngsters to a career in the maritime industries, slicing salaries is hardly the best way to go about it.
