New law will push more skilled people to leave South Africa

[BusinessTech]

New law will push more skilled people to leave South Africa

Business group Sakeliga has opposed the proposed Companies Amendment Bill which it warns will harm the business landscape and ultimately push more skilled people to leave South Africa.

 

[Thor]

Sounds more to me like Sakeliga doesn't want their employees to know how much they fck them each month.

 

[P924]

Sounds more to me like Sakeliga doesn't want their employees to know how much they fck them each month.

No, a law like this is unlikely to have the desired effect. It will probably drive salaries towards the mean. But that also leads to extraordinary people not getting paid what they are worth - so they look elsewhere.

 

[Crayons]

For those that stay you might just get a lucky promotion

 

[sand_man]

Meh, skilled people? Who needs them? Cubans on fast dial. We good to go....

 

[D tj]

Very few laws have any beneficial effect.
The concept behind government is regulation...to regulate resources in a way to maintain /restore balance with the aim of the welfare of all in mind. An example : in a drought to ensure that water is fairly available to all to meet their reasonable needs.....statute to stop hoarding or price gouging damming diverting rivers.
These are meant to be temporary measures. And never used as a way of enriching a few.
Just as a blade can be used as a scalpel to heal or to kill.

 

[Pineapple Smurf]

viva ANC

 

[grok]

Skilled people don't brainwash as easy..

 

[Jet-Fighter7700]

bring in the Cubans, maybe they can also bring some Cigars with them,

 

[Fulcrum29]

How many countries actually make this publicly available?

In my view, it must be tied to your SARS record, and only be made available by valid request.

I still haven’t read the bill, but must only the average remuneration and said applicable ratios be made public, or must everyone’s salary be published in public?

Disclosing the average remuneration isn't a bad idea... however, the ratios my unsettle the equilibrium, and yes, it may push people abroad.

I also still believe that this must only be applicable to publicly trading entities.

Anyhow, Sakelige is adding to the concerns made by BLSA, and I am curious to see the submitted comments as I am sure that there will be many businesses who disagree with the bill.

Since I don't know how accessible this data will be, it will not be cool to see people parade your salary in public, and with the ratios they can make those guestimates. Soon people will insist on the top 5% highest-paid employees to donate to their bread, milk and butter or otherwise to solve world hunger.

All-in-all, should this bill succeed, then great care must be taken.