Show me the money: I deserve a COVID recognition payment, and so do you

November 11 2021
Share

Staff are currently in high demand. But they’re also mostly overworked, overtired, underplayed and underpaid.

Show me the money: I deserve a COVID recognition payment, and so do you

So instead of a pair of festive socks that will likely be regifted this Christmas or a bottle of wine and a boozy lunch that will just add to a burgeoning post-lockdown waistline, why not follow Sydney Uni’s lead and declare a “COVID recognition payment” for all?

Earlier this week, the University of Sydney declared a one-off payment to thank its staff for their “enormous” contribution during the last year.

“In recognition of the remarkable and sustained service our staff have delivered during this most testing of years, particularly the prolonged lockdown, we have chosen to invest in our people with a one-off ‘COVID recognition payment’ of $2,000 for all our permanent and fixed-term staff and also casual staff members who have worked three or more pay periods in semester 2,” said Professor Mark Scott, vice-chancellor and principal.

And this got me thinking.

A lot of companies are ending the year in a more positive financial position than expected, some even racking up hefty profits, and why?

Because their staff persevered in the face of what could arguably be referred to as an existential threat, many juggling children, elderly parents, partners and full-time work-from-home jobs, while trying to tame a mild case of coronaphobia. Many struggling with their mental health as they watched their lives shrink to fit the confines of their four white walls, all the while successfully executing their nine-to-five jobs as they increasingly spilled over into the evening.

Does this not warrant a $2,000 thank you?

Let’s be honest; the painful Zoom-meetings alone warrant a sizable pat on the back (COVID-safe, of course).

And don’t get me wrong, I am not praising Sydney Uni – I’m aware of ongoing claims of overwork and underpay – instead, I’m choosing to take the $2,000 at face value. And for many, $2,000 smells like a family reunion, a much-needed seaside gateway, a brand-new post-lockdown outfit (minus the elasticated waistband).

And it’s not all bad for the business either.

Employees are increasingly leaving their jobs to look for better ones, ones that afford them more value. So why not show your staff you care? Why not thank them for sticking by you, for executing their jobs without falter while a pandemic enveloped the world, potentially changing their lives forever?

Think of it as an investment in talent that will deliver more value for the business.

Think of the value you’re creating by keeping the right people with the right skills in the business.

And don’t forget, you’ll also be powering the economy. By gifting your employees $2,000, you’ll inevitably be supporting the local economy and helping propel Australia towards a better tomorrow (cheesy, cliched, but true).

About the author

Maja Garaca Djurdjevic

Maja Garaca Djurdjevic is the editor of nestegg and Smart Property Investment. Email Maja at [email protected]

About the author

Maja Garaca Djurdjevic

Maja Garaca Djurdjevic is the editor of nestegg and Smart Property Investment. Email Maja at [email protected]

sections

most read

sections

most read

sections

most read

sections

most read

sections

most read

sections

most read

sections

most read

Most read

Age Pension increase prompts Australians to review their finances

Latest Podcast

Superannuation guarantee rate rises to 12 per cent as parental leave changes ...

Resources

There is $17.5 billion in lost and unclaimed super across ...

Earn