People queue for unemployment assistance in eThekwini. Picture: EUGENE COETZEE
Economic and financial uncertainty have been with us since the global financial crisis. And, as many commentators have tried to emphasise, the “new normal” we’re living is all about uncertainty.Stats SA’s most recent report on inflation reveals that prices were up 7.4% in June compared with the same time last year. And, since the announcement of the lockdown in 2020, prices have risen nearly 16%.
We’ve seen this before in SA — many times, and especially in the mining sector. Consider the Marikana tragedy, for example: it began as a call for a rise in wages but also as a challenge between rival unions for representation and bargaining rights. So what should business be doing in this environment? It’s an important question, because business leaders in SA have often outsourced labour relations to unions. Instead of understanding workers as part of the factors of production they need to manage through their own strategic plans, business leaders often assume them to be exogenous.
Source: News Formal (newsformal.com)
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