Tag: Temporary Employer/Employee Relief Scheme (TERS)

The globe is on lockdown at the moment as we all face the COVID-19 pandemic, and this is a time which is creating a lot of fear, anxiety and uncertainty in the workplace. It is not just with people now having to work from home, but for those who have pursued new job opportunities and received job offers to start during or after lockdown, and now face a highly unnerving state of anxiety about if they will start or not or if their offers will be withdrawn or if they should even hand in their resignations.

With the payment of the first COVID-19 Temporary Employee / Employer Relief Scheme (TERS) benefits, various misunderstandings have come to the forefront.

The Covid-19 crisis has brought much of the world economy to a sudden stop. Millions upon millions of people are in lockdown across the world, preventing them from working, buying, producing and selling goods and services. Global and local supply chains are interrupted, and small and large companies see a collapse in income. Households are under similar pressure.

It is understandable that business owners feel panicky because of the toll Corona is taking on business income. However, many businesses realise that if they implement wholesale retrenchments they will not only lose valuable skills but will also reduce the buying power of the public. This would then further reduce the business’s ability to earn an income.