Why are the salary earners the hardest hit of all earners in the current wave of inflation ravaging Nigeria?

Other business people can quickly adjust their charges and fee to meet whatever the prevailing economic realities are.

Not same for salary earners.

Salary increase may take long to come for those who get it. And in most cases, the increment won't do much.

mariovito:
Other business people can quickly adjust their charges and fee to meet whatever the prevailing economic realities are.

Not same for salary earners.

Salary increase may take long to come for those who get it. And in most cases, the increment won't do much.

In addition, salary earners are under employers of labour who are also experiencing reduced revenue most times and so less willing to effect salary increase to cancel out inflation. Even if revenue increases, employers are always looking for more of it.and may not grant employees and increase.

Salary earners are often the hardest hit by inflation because their incomes are typically fixed or increase at a slower rate compared to other segments of the population. While prices of goods and services rise due to inflation, salary earners' purchasing power diminishes over time. This can lead to a decline in their standard of living as they struggle to meet their increasing expenses with their stagnant incomes. Additionally, salary earners may not have the flexibility to switch jobs or negotiate higher wages easily, further exacerbating the impact of inflation on their financial well-being. Consequently, inflation disproportionately affects salary earners, making it crucial for policymakers and businesses to consider strategies to address this issue and ensure fair compensation for the challenges they face.

Hear from those who are currently struggling to meet their bills


https://www.youtube.com/watch?v=iL6V8U9yoeQ

H

Because they don't have the mind to meet HR for salary review

Maybe because their pay is subject to management decision.

Members of staff first begin with grudges over how their pay is being impacted. They also hold meetings amongst themselves or confidantes amongst the management on this matter. Note that no official moves have been made yet, but time is passing, nonetheless.

Then they decide to approach the management officially. They may be asked to put it in writing if the haven't done so. Some of the discussions do not go beyond this point. Some management staff will hold meetings to discuss the best approach. Time is still passing.

The implementation stage then comes in. If the prices of goods and services need to be increased, the most likely scenario is the staff will wait until when the price adjustment is in force. In the meantime, shege may be seen.

Only few organizations are proactive, they start paying hardship allowances and pay rise, expecting the rise in incoming revenue to account for it. No organization will want to run itself into financial troubles, hence the caution.

Una funny o...JOB for this present day Nigeria..how much dem wan pay you ? 😂

You lost your job not your LIFE. You don't need a job, you need a business and side hustles that fetch you daily income.

No JOB in Nigeria...but theres work you can turn into a fulltime JOB.

Your kids can't inherit your job..(JUST OVER BROKE)...start something and scale it.....put your life into it.....

We are over 200 million Nigerians , sell to 1% of that population and smile to the bank.

Times have changed..you need start thinking radically.


Where do you reside currently, you'd need to roll up your sleeves and hit the ground running immediately.

If you are in Lagos or any of the cosmopolitan cities, you need some tools.

- Phone , internet , Laptop (not necessary) , facebook, instagram page, twitter, jumia, konga, facebook marketplace, jiji , etc.

List your products on those platforms..You can start with 100k - 1M...

- go and learn how to run ads (facebook , instagram , google ads , SEO )

- know how to take good pictures.

- use a good logistics company for deliveries.

Enter street, look for big time importers, negotiate with them. Tell them you will bring customers and sell thier products very fast.

One of the hot products i started out with and grew it to a 6 figure business > >


https://www.nairaland.com/7403742/zealot-s67-wireless-speaker-60w


Look for a business that is offline, bring it online and get them sales, make a lot of money.
Not just money...

You will build your confidence.
Your influence will grow, and...
You’ll attract more opportunities to yourself.
You need to start operating smartly.

Look for a business that is offline, bring it online and get them SALES.
Thank me later when you hit your first M

Combine it with POS and bill payment , Fast Moving Consumer Goods business.

Stay safe.

RepoMan007:
Why are the salary earners the hardest hit of all earners in the current wave of inflation ravaging Nigeria?

Because business owners can adjust the prices of their goods and services. Salaries don't get reviewed like that.

Because their salaries are not changed.
Entrepreneurs can still increase prices, not salary earners.

Most salary earners are living far from their place of work.

For instance, I am staying very far from a work of 50k. Transport has eaten all.

My sisters and brother can't go and collect their term results from school because I haven't paid the 65k debt. I haven't defaulted on paying. Now, it's becoming overbearing for me.

I am looking for a miracle to pay up now.No help seems feasible. All hopes looked lost.

Yet I don't know who to blame but myself.

My nigha bout to drop his 30k Cadbury job… transport hike….

E touch everybody oo

Not just salary earners

Sad reality,they can still be owed this salary in this hard times

my head don lean
my neck don long
starvation wan murder me

M

Because salary is stagnant and expenses are increasing

ok

My friend works in a private organization where he’s paid 80k per month. It was actually increased from 69 to 80k after the first fuel hike. The company can’t do another increment after the second hike meanwhile, his transport fare had increased by another 25%.

He works from Monday to Saturday.

His transport fare to and from work is 1500 daily excluding feeding. Dude spends an average of 3k daily for TP and feeding.

Tell me, what is his gain?

If you voted BAThing and you are complaining, you need to be checked. You must be having underlying mental problems :



As you no gree hear word, you must suffer the consequences with ur innocent children

Because money(cash) is one of the worst assets to hold during inflation, it looses value so quick and in Nigeria, salary is hardly indexed. Some people have been on same salary for so long and even when it is increased, it does not catch up with the level of inflation. So, imagine a situation where prices have risen by 100% and salary remains the same, or only increased by 10%, na die situation.

[quote author=RepoMan007 post=124622533]Why are the salary earners the hardest hit of all earners in the current wave of inflation ravaging Nigeria?

Me as a case study
I’m left with 1200
And I can’t write my employee seeking for MOU
You know why
Cos I’m working with state government
How do I survive dis week
Without running costs
Mind you
Dis is applicable to all government workers

Cox business ppl can increase dy price of their goods to make profit

Transporters can hike their fees,even hook-up girls self don dy charge more.

But salary earners fee are largely stagnant,highest ur employee can add 10% to what u already earn which is not enough in relation to the price increament of goods nd services.Infact some goods are now 50% more of the old price which they were sold before the fuel price hike.

These are worst days to be a salary earner in Nigeria.

Because irrespective of the hike in fuel and other commodities, salary still remains constant. The 30k of today don't have the same purchasing power of 2 years back.

I'm just exhausted.