Business News of Tuesday, 3 May 2022
Source: www.ghanaweb.live
2022-05-03Normalize payment of ‘13th-month salary’ – Employers urged
13th month salary is an extra pay
Employees will give their best if they have incentives, Asmah
13th month salary is an extra paycheck that is typically equal to one month’s salary.
Companies will do better with a committed team
The success of any business depends on the work ethics of employees as well as employers. Therefore, the CEO of Automation Gh Group, Kwaku
Read full articleAsmah has encouraged employers to, as part of incentives, pay the 13th or 14th-month salary to boost the productivity of workers.
The 13th month salary is an extra paycheck that is typically equal to one month’s salary.
He noted that inasmuch as it is important to incentivize workers, it is however prudent to establish a penalty structure to keep them in check.
He made these comments whiles speaking at a workshop organised by the Stanford Seed Transformation Network, Ghana Chapter.
According to him, “the shared reward scheme enables employees to identify themselves and position the role they play in achieving the company’s success.
“If an employee knows they have a stake in a certain output, they will definitely give their all. If they know they play a role in their small corner but at the end of the day, the bigger picture is for the bosses to enjoy, they will definitely not give their all,” he added.
Mr. Asmah however noted that the success of a company is eminent if employees are committed.
“A company’s role is to offer a service. The customer has an expectation or certain requirements and how do you get it? You need people to be committed to the timeline, quality, and to the cost that has been agreed,” he said.