Salary Payment: Weekly, Bi-Weekly or Monthly ?

When change can be meaningful, their is always a negative cry.

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In todays world where the dynamics of business has changed totally, many are left to scrabble and tie their belly till another pay cheque comes. Many persons in our Caribbean Region live from pay cheque to pay cheque and the more we are convinced “E A Wuk” the harsh reality is the more things remain the same.

Yes budget, yes seek financial assistance, those would be the cries but The Cost Of Living has been raised in leaps and bounds. Don’t mind the political rhetoric that salaries have increased or even minimum wage has gone up because prices escalate daily, additional government charges are added on and services incur additional fees. With that said, the crux of the article focuses on the possibility of Government deviating from the norm and paying salaries on a Bi-Weekly Basis.

Thus, payments would be spilt in half which would create a natural balance. Employees would be able to be more mobile and flexible in terms of capital as they would not be as restricted. Most often than not when salaries are due so are bills, so it is consumed instantly.

What would be the preferred choice is a matter for the populace at large. However, this medium is of the firm belief that anything is possible but its takes careful financial strategizing which will cause increase workloads, and stricter collection mechanisms which should eliminate delinquent payments.

Would governments ever make such a bold move? Can private entities follow suit? Only time would tell, certainly it would change the dynamics on how governments spend.

Posted by SKN PULSE.

By sknpulse Posted in Issues

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