Empowering Malaysians (and Malaysia)
OUR success in the 21st century is increasingly dependent on continuous lifelong learning, effective thinking and persistent upskilling. I suspect anyone over 35 is able to cast his or her mind upon a mental map of memories that traces a riveting journey marked by growth, diversions, switchbacks, uphill trudges and downhill sprints.
As my 58th birthday draws nigh, I must say it’s been an exhilarating journey. And, God willing, I hope many more, even better, years stretch forth in front of me in a kaleidoscopic vista of fresh experiences.
When I think back upon my checkered, meandering career, I can say that an innate curiosity about what makes the world tick has driven me to keep learning fresh — and refreshing — lessons.
From the age of 20 up until today, those lessons have encompassed fields as patchy and diverse as library research, statistics, astronomy, nuclear physics, calculus, quantum mechanics, computer programming, retail stocktaking, carpethauling, joke-writing, accounting, auditing, technical writing, television journalism and newscasting, print reporting, theology, investment analysis, book authoring, economics, professional speaking, financial planning, retirement funding, and more.
While it’s true that a rolling stone gathers no moss, all I can say is it’s a good thing I’m no tumbling pebble. Frankly, over the past 37-plus years, each foray into a new area of deep academic study or shallow passing interest or diligent remunerated work has built within me, through glacial accretion, a store of knowledge and experience that helps me identify patterns, connections and principles I use each day to advise my financial planning consulting clients.
That stock of lessons has appreciated as our world has grown more chaotic; some of my clients have either chosen or been forced to change tracks mid-career because of job market dislocations.
As you read this, you’ll realise your own path into adulthood has also been uniquely textured.
LEARNING AND UPSKILLING
Back in mid-1994 when I’d just turned 30, I left my job as a business journalist for Malaysian
Business magazine for 200 per cent more money to work as an equities analyst at Standard Chartered Securities in Kuala Lumpur.
I had an excellent boss, P. Gunasegaram, our head of research who taught me a lot about economics, investment analysis and stock valuations. Guna assigned each of his half a dozen or so analysts to cover different sectors of the Malaysian economy.
He decided I’d cover, among other listed companies, the electrical power behemoth Tenaga National Berhad (TNB), which literally powers Malaysia. The best part of my job was learning how big businesses are run and their profits generated.
In recent years, given the devastation of job markets caused by the Covid-19 pandemic, the importance of continuous learning and persistent upskilling has never been greater.
That’s why I was pleased to learn about Tenaga Nasional’s initiative to help thousands of unemployed Malaysians qualify for, and secure, new jobs in viable sectors of our evolving economy.
TNB’s initiative hinges on a basic requirement of 21st century work life: Endless learning and reskilling are needed to keep us relevant. The company has allocated RM43 million for its TNB Reskilling Malaysia (TRM) programme, which is provided for free to companies tied to power generation, transmission and distribution and to job seekers.
The TRM programme began in the second half of 2020. Its goal is to reskill 17,500 Malaysians over three and a half years, which works out to 5,000 jobs being filled by the freshly qualified every 12 months.
At its core, this sterling TNB initiative focuses on education and re-education.
KNOWLEDGE AND SKILLS
American historian Henry Adams observed way back in 1907, “They know enough who know how to learn.” Each person craving to advance in these trying times MUST be eager to keep learning in fields of useful education that tangibly raises workers’ productivity and boosts national productivity — which is what TNB is delivering to Malaysians and Malaysia through TRM.
In senior hedge fund manager Ray Dalio’s book The Changing World Order, premised upon his team’s research covering 500 years of world history, the fundamental importance of education is undeniable.
Dalio writes: “Making Wealth = Being Productive. Over the long run, the wealth and buying power you have will be a function of how much you produce. The less productive a society, the less wealthy and hence, less powerful... spending money on investment and infrastructure rather than on consumption tends to lead to greater productivity, so investment is a good leading indicator of prosperity.”
At a personal level, when each of us thinks about improving the prospects and living conditions of our families, the primary determinant is the future RoI (return on investment) we generate from current education.
Serious note: Not all educational paths have high RoI. Some are an utter waste of time and money, so choose carefully.
Each of us should look forward five or 10 years when making intelligent guesses of where our profession and industry is likely to head. We should then embark upon a personal programme of formal or informal learning to deepen and expand our knowledge base, and to elevate our skills.
Those of us who do so will fare better economically in the 2030s and beyond than those who mistakenly assume they know it all.
Read his articles at www. FreeCoolArticles.com; he may be connected with on LinkedIn at www. linkedin.com/in/rajendevadason, or via rajen@RajenDevadason.com. You may also follow him on Twitter @Rajen Devadason and on YouTube (Rajen Devadason).