Tag: salary

Some months ago, I exchanged views with Buddy Wells, one of South Africa’s more vocal supporters of Modern Monetary Theory (MMT). In our debate, he argued a familiar point. According to him, governments can print money to employ the jobless without causing inflation, as long as those being hired are not already doing anything useful.

In the past several years, Ayanda's workload has grown significantly. As a payroll administrator, she works more closely with the payments team in the finance office. They often have more questions due to remote and hybrid working and frequently look to her for answers.

With remote work firmly entrenched in our reality, employee self-service systems have become a game-changer, digitising and automating critical tasks to ease the administrative load on payroll and HR teams. These web or mobile-based platforms offer employees direct access to their personal HR information, enabling them to manage various aspects of their employment independently.

Employee benefits such as a retirement fund, healthcare insurance, medical scheme membership, group life and disability benefits are pre-negotiated and agreed upon as part of the employment process and contracting. Typically, these benefits remain in place until the employee-employer relationship concludes through resignation, dismissal, retrenchment, retirement or death.

The phenomenon of job-title inflation has gained traction in South Africa, driven both by young professional’s ambition for accelerated career progression and employers' efforts to engage staff while managing costs. This trend has led to an increase in roles with prestigious titles, such as 'Lead', 'Vice President', or 'Manager', being offered to individuals with limited experience, skills, or corresponding salaries.

South Africa’s tough economic conditions have left many consumers struggling to build emergency cash savings. According to our data, more than half (52%) of entry level private banking clients have less than one month of their salary saved in immediately accessible cash savings available, to use in the event of unforeseen circumstances such as retrenchments or urgent medical procedures.

In the context of a highly charged and challenging environment for doctors in South Africa, telemedicine is emerging as an attractive alternative route for young doctors seeking a sustainable career. Taking it a step further, offering telemedicine as a managed service to businesses not only improves employer and employee experience but also ensures a stable work environment for doctors.

In the contemporary business environment, characterised by rapid technological advancements, globalisation, and shifting workforce dynamics, organisations face unprecedented challenges in workforce planning and management. Traditional models, focused primarily on headcount, no longer suffice as companies navigate the complexities of digital transformation, remote work, and an increasingly diverse and dynamic workforce.

With South Africa getting closer to rolling out a digital nomad visa, it is a mix of good news for the economy but also a cause for concern about how it might affect our local coders. Remote work is gaining popularity, allowing individuals to combine travelling the globe with maintaining full-time employment.

If you’re saving for your retirement, both retirement annuities (RAs) and tax-free investments (TFIs) are good investment choices. But which one offers the best tax benefits? The answer depends on your investment goals and unique circumstances. While there are tax benefits associated with both RAs and TFIs, the benefits are structured differently, and the product rules and restrictions are quite distinct.