THE IMPACT OF HIGHER INTEREST RATES ON SALARY INCREASES AND EMPLOYEE EXPECTATIONS
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GUEST: KIRK KRUGER, MEMBER OF THE SOUTH AFRICAN REWARD ASSOCIATION
We find ourselves in an environment of rising interest rates, high levels of unemployment, and escalating food and energy prices. All of this paints a bleak picture for the average person, even if they are fortunate enough to have formal employment. In desperate times employees may look to their employers to award salary increases well ahead of inflation to help them make up the monthly shortfall which occurs when debt repayments start to dominate monthly spending.
We find ourselves in an environment of rising interest rates, high levels of unemployment, and escalating food and energy prices. All of this paints a bleak picture for the average person, even if they are fortunate enough to have formal employment. In desperate times employees may look to their employers to award salary increases well ahead of inflation to help them make up the monthly shortfall which occurs when debt repayments start to dominate monthly spending.
