A lot of organisations overlook the importance of not paying staff on time, with the ‘So far they get paid’ mentality; however they are unaware of some of the damages delayed salaries may cause to their business.
Below are some business decays as a result of salary delay:
1. Negative attitude to work: Employees are not encouraged to put in any work, and start feeling a certain resentment towards their daily tasks.
2. Decline in productivity: It is common place to see tasks take a longer time than they normally should when employees are disgruntled about pay. Overall, this affects work output and performance.
3. Poor Interpersonal relationship at work: The frustration of delayed plans, and unmet payments, and other personal financial issues may affect relationship between colleagues at work
4. Disloyalty to company: Loyalty to the company’s warefare is put at risk as employees may focus their attention on what would provide immediate financial relief to them.
5. Breeds unprofessionalism: More often than not, the longterm adverse effect of delayed salaries show fruition when employees make unethical decisions, such as collecting bribe or soliciting funds from customers just to stay afloat.
It is advisable for organisations to make a conscious effort into paying salaries on time, in cases of unforseen delays, adequate communication should be made to the staff to ensure they understand reasons behind delay.
/ 2 weeks ago
Normally, you would wear your suits with formal shoes while having to wear sneakers with suits...