Economic collapse: Workers express dismay

workers-p12.jpg

MOST workers do not think the economy will recover in the second-half of the year and neither do they think they would get a similar job in the next six months should they leave their current employer given the prevailing economic conditions in the country, a survey has revealed.

Kudzai Kuwaza

The economic crisis in the country continues to deepen, characterised by a crippling liquidity crunch, a severe cash shortage, company closures and job losses.

More than 800 workers have been laid off through retrenchment in the first quarter of this year.

According to the Employee Confidence Survey Report by Industrial Psychology Consultants, 55,5% of the participants do not expect things to be better in the next six months.

The report also pointed out that most of the participants (51,5%) believe that if they lose their jobs right now, they will not be able to get another similar or better job in the next six months.

“A large proportion (57%) of the non-managerial employees are not confident that if they were to lose their jobs right now, they will get a similar or better job in the next six months,” the report states.

“The data revealed that, regardless of job category, both managerial and non-managerial employees are not expecting the economy to improve in the next six months.”

The report reveals that in the next six months, 77,9 % of the participants do not expect the economy to improve and 22,1% are expecting the economy to improve.

Participants also revealed what they thought was the most negative development in their workplace with 38% pointing to reduced benefits, 33% indicating that it was delays in the payment of salaries, 20% revealed that it was retrenchments,17% of the participants felt it was salary cuts while 16% pointed to forced leave.

Less than 10% mentioned other negatives such as short time, unpaid leave and judicial management.

The survey report established that 84,6% of the participants are not confident that they will get a cost of living adjustment this year, looking at their organisation’s current circumstances and the outlook for the next months.

“In the last six months, benefits were reduced, salaries were delayed, employees were retrenched, salaries were cut, and some employees were forced to take unpaid leave.

However, some organisations hired new employees, some offered employees personal loans, housing loans, share options and salary increase,” the report states.

The participants of the survey were drawn from various sectors of the economy, including manufacturing, banking, insurance, mining, agriculture and telecommunications. Despite a bloated government workforce, Labour minister Prisca Mupfumira (pictured below) has vowed that no civil servant will be retrenched.

Top