Poor productivity in South Africa has always been a concern. Apparently we were making progress, but now the debt crunch is making the problem worse.
Employee debt is having a profoundly negative impact on companies as productivity dips further, a consumer expert has said.
Absenteeism and fraud, which is already at unacceptably high levels, have risen as employees battle to cope with rising debt.
Furthermore, by the third week of the month employees can't get to work for lack of cash to pay for transport.
Consumer Assist CEO Andre Snyman says workers are sabotaging companies by refusing to answer phones because they fear creditors are on the line.
Productivity SA and the 2007 IMD World Competitiveness Yearbook announced earlier this year that after a decade of sustained growth, South Africa's productivity rating fell from 38th to 50th of 55 countries rated.
full story from IOL here