"Learn to say no".
Adam Ng is the founder of Trusted Malaysia and a digital marketing specialist with 8+ years of experience. When not in work mode, He enjoys cooking and often goes out in search of the culinary adventures that sometimes take him across country borders and beyond.
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We are thrilled to have you join us today, welcome to Valiant CEO Magazine’s exclusive interview! Let’s start with a little introduction. Tell our readers a bit about yourself and your company.
Adam Ng: My name is Adam Ng and I’m the founder of Trusted Malaysia and also a digital marketing specialist with 8+ years of experience. When I’m not working, I enjoy cooking and often I go out in search of the culinary adventures that sometimes take me across country borders and beyond.
Who has been the most influential person(s) in your life and how did they impact you? How did that lead to where you are today?
Adam Ng: There are a lot of people who have had tremendous influence in my life. My parents have been two of the biggest influences. They have taught me values to live by, they have supported me and they encourage me to pursue my dreams while challenging myself to be the best that I can be. I would not be the person I am today without their love and guidance.
2020 was a challenging year for all of us, particularly for businesses. How did the pandemic impact your business? Please list some of the problems that you faced, and how you handled them.
Adam Ng: The coronavirus has made me hyper aware of my staff — their needs, mental health and path forward. I believe COVID-19 had a positive impact on my business. It provided me with the opportunity to take a pause on client-facing activities and work on project processes and back-end systems. Overall, we’re trying everything we can to get through these uncertain times. We all know that we are in this together, that we will have a victory at the end of this fight and are hopeful for the future.
The pandemic led to a myriad of cultural side effects, including one that was quite unexpected that is informally known as “The Great Resignation”. Did this widespread trend affect you in any way?
Adam Ng: It doesn’t affect that much as a keep value with my employees and I don’t want them to lose theirs especially during this time. Take advantage of the work-from-home or work remotely to keep everybody safe from the virus. We strive to continue the business for everyone.
According to the U.S. Bureau of Labor Statistics, 4 million Americans quit their jobs in July 2021. How do you feel about this trend? Explain.
Adam Ng: It is heartbreaking knowing that many quit their jobs and business are closing but at the same time it is explainable that people are choosing safety overtaking risk. With the trauma brought by the Covid-19, you on one hand wouldn’t blame people to quit their job to save their lives and the lives of their families. and on the other hand with the help of vaccines I hope, I hope that everything will slowly be back to normal.
According to a study by Harvard Business Review, Employees between 30 and 45 years old have had the greatest increase in resignation rates, with an average increase of more than 20% between 2020 and 2021. That can be quite an alarming rate. What advice would you share to increase employee retention?
Adam Ng: Employee retention should always be a priority. A staggering 35% of employees may leave their jobs each year by 2023. And with the new normal of remote work, employees have a wider range of potential employers to evaluate than ever before. Get recognition and rewards right. Employees who feel appreciated work harder and stay at companies longer, Workers tend to stay longer at organizations where they are aligned with the values, vision, and mission, so identifying them during the recruitment process can pay long-term dividends in terms of retention. Making employees feel like a part of your organization starts with their onboarding and continues through their first year at the company. It can take a new employee up to two full years to reach the same level of productivity as an existing staff member, so making them feel comfortable and capable at the outset can do wonders for retention.
According to a Nature Human behavior study, In 2020, 80% of US workers reported feeling that they have too many things to do and not enough time to do them – a phenomenon known as “time poverty”. What is your take on the work-life balance? Explain.
Adam Ng: Managing your time. Give yourself enough time to get things done. Don’t overschedule yourself. Learn to say “no.” Evaluate your priorities at work and home and try to shorten your to-do list. Cut or delegate activities you don’t enjoy or can’t handle — or share your concerns and possible solutions with your employer or others. When you quit accepting tasks out of guilt or a false sense of obligation, you’ll have more time for activities that are meaningful to you. Detach from work. Working from home or frequently using technology to connect to work when you’re at home can cause you to feel like you’re always on the job. This can lead to chronic stress. Seek guidance from your manager about expectations for when you can disconnect. Relax. Regularly set aside time for activities that you enjoy, such as practicing yoga, gardening, or reading. Hobbies can help you relax, take your mind off of work, and recharge. Better yet, discover activities you can do with your partner, family, or friends — such as hiking.
A more recent survey by Joblist asked about 3,000 respondents if they’re actively thinking about leaving their job. That survey found that 73% of 2,099 respondents who answered this question on their employment plans are considering quitting. How are you preparing for the future to counter this potentially persistent problem?
Adam Ng: Even the best employer has employees resign. No matter your work environment or your positive employee relationships, employees resign for reasons that are beyond your control. Sometimes they resign for reasons that are out of their immediate control, too. You can manage employment resignation so you minimize the impact of the loss of the employee on your workflow and work environment. If you handle the process effectively, the exiting employee leaves knowing that he or she has contributed and added value during her time in your employment.
Thank you for all that, our readers are grateful for your insightful comments! Now, if the Great Resignation isn’t your greatest concern, what is the #1 most pressing challenge you’re trying to solve in your business right now?
Adam Ng: Balancing Quality and Growth, Even when a business is not founder-dependent, there comes a time when the issues from growth seem to match or even outweigh the benefits. Whether a service or a product, at some point, a business must sacrifice to scale up. This may mean not being able to personally manage every client relationship or not inspecting every widget. Unfortunately, it is usually that level of personal engagement and attention to detail that makes a business successful. Therefore, many business owners find themselves tied to these habits to the detriment of their development. There is a large middle ground between shoddy work and an unhealthy obsession with quality; it is up to the business owner to navigate its processes toward a compromise that allows growth without hurting the brand.
Before we finish things off, we do have one last question. If you had 10 Million Dollars to spend in one day, what would you spend it on?
Adam Ng: For the record, I believe having at least 10 million dollars is the ideal amount of money to retire early today. Given interest rates have come way down during the pandemic, the value of cash flow has gone way up. Inflation is also picking up. I’d first sit on the $10 million for three months to let the initial excitement wear off. Money is most easily blown when it first comes in. This is when we get in the most trouble, especially if we didn’t spend years earning our money. I’d do a net worth analysis to see where I’m light on assets. Given I bought another property last year, I’m a little too heavy in real estate than I would like (~40% of net worth vs. 30% desired).
Hence, I’d allocate money towards public equities, risk-free assets, and private equity investments. By keeping 40% of the $10 million windfalls, I know I’ll be safe no matter what I do with the other 60%. Spend/Invest: $4 million. What’s left: $6 million. Pay down some debt. I’ve got two remaining rental property mortgages I’d like to pay off: Create a perpetual giving machine. I’d set up a $3 million trust to perpetually donate to a particular charity based on the returns generated from the principal. With a 2% – 5% rate of return, I could donate $60,000 – $150,000 a year forever. Ideally, I’d like to create multi-generational financial security with part of this $10M windfall.
Mike Weiss, VIP Contributor to ValiantCEO and the host of this interview would like to thank Adam Ng for taking the time to do this interview and share his knowledge and experience with our readers.
If you would like to get in touch with Adam Ng or his company, you can do it through his – Facebook
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