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The pandemic brought with it a slew of realisations for business owners, one such an epiphany is how most organisations need fewer employees to remain functional. But using COVID-19 as a reason for retrenching a surplus of employees constitutes as unfair dismissal.
Following the South African Reserve Bank’s (SARB) decision to cut its lending rate by 0.25%, we will be reducing our prime lending rate to 7% from 7.25% with effect from Friday 24 July. The recent FNB/BER Consumer Confidence Index revealed an alarming but understandable slump in confidence, which has not been seen since 1985.
Okay, I have decided to nail my colours to the mast on COVID-19. And before you ask… No, I am not an epidemiologist or economist. Nor am I a politician with votes to garner, or a journalist who revels in sensationalism. I am just an opinionated individual with no power other than to express my opinion. And I am angry and saddened and sound it.
South Africa’s current national state of disaster, and the uncertainty that has gripped the world, will especially impact the most vulnerable groups in our society. That includes those in casual or insecure employment who face two possibilities in the reality of social distancing: loss of income, or ongoing exposure to the virus through the front-line nature of their work.