News Letter - Executive Search International - Recruitment for Hospitality and Theme Park / Leisure Industries - Australia, Japan, and South East Asia
 

 









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I have been asked over the last year regarding which currency would be best to negotiate in a contract due to regular currencies fluctuations. Here are my thoughts :

Don’t Change Queues at a Supermarket

OR

Currency fluctuations and your salary.

How many times over the years and around the world, no matter what country;

We change Queues at a Supermarket only to find out very quickly, that as soon as we join the other Queue the quickness you once saw or perceived stops, halts, stalls.

The person at the front of the Queue either brings out a Cheque Book (To Cashier: “Do you take Cheques?” Reply: “ Not since 1983 Sir” )

OR

As suddenly as you appear on the new quicker Queue there is: “Price Check on Checkout Four, Price Check on Checkout four”.

The more you become agitated the slower the Checkout lane moves.

Frustrated?

You just have to bide your time , it will move again and you will get to where you wish to go, The Checkout knows you have changed and deliberately goes slow. Murphy’s Law in action.

Like me with shares, they go up when I have no investment in the company and the day I buy the shares, down they go..

So what has this go to do with Currency Fluctuation and your salary?

Over the last 18 months and more, currencies have fluctuated wildly at times.

The Australian Dollar has moved against the US dollar from $1.12 approx to 90c and back up again over the $1.00 mark. The Euro the same has fluctuated, Pound the same, RMB and the Yen the same and so on.

I have been asked many times over the last 18 months, my opinion on whether a client/candidate should change from one currency to another, usually the US dollar to Aussie Dollar or from US to Euro.

My advice is, until the world adopts another international currency to take over from the US dollar, stick with the US or the currency you are with. If the rest of the world uses the US dollar as the bench mark then why not you?

Of course the Euro or Yen don’t look too shabby either if you are on them. The Aussie? It does tend to fluctuate a fair bit

If you insist with your employer for a change, fine and it’s your right to do so BUT do not do it out of panic as has happened, as it will end up biting you.

Have a good think before hand, because, as with the supermarket Queue, your new currency salary may well stall.

You may find yourself with a Price Check on Checkout Four. And I don’t feel your employer will take too kindly to you asking to again return to the currency you once had with them .They may start questioning your decision making capabilities.

When you agree, and sign a contact that’s exactly what you do, agree with what is written and the currency you agreed upon unless it’s the Zimbabwean Dollar not a good move right now

Of course if the currency bottoms and comments from professionals state to move, then move but this happens rarely if at all , as no one really knows, not even the “ experts” What Happened to Wall Streer? To Lehman Bros.

I have been asked what I think the US Dollar or Euro will do and if the person should change to a certain currency.

I am flattered BUT if I knew the answer I would be sailing my yacht on Sydney Harbour or Skiing in the Swiss Alps (badly but, skiing)

These are uncertain times economically ( but getting better ) and Asia, India, Middle East in fact most parts of this world are doing quite well .Lets hope Europe bounces back

So, as I have been asked several times:

In my humble opinion hang in there, stay in the Queue, as changing you just may encounter 2 people in front of you with Cheque Books. Heaven forbid

and remember :
 

Murphy's Law

An expert is one who knows more and more about less and less until he knows absolutely everything about nothing.
 

Very Best Regards,



Stuart Mullinsillion Australians Live Permanently Overseas?
 


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