Best ways to handle unexpected salary cut

[Augusta]

Sometimes things that we can't control happens and it is always only good that we find a way to cope with it. One of such is having a salary of pay cut that you can't help it than to adopt the best ways to cope with it .

So what are the best ways to handle unexpected a pay cut.


Be sure it's has no malicious intent


You have to first ensure the pay cut is in line Ensure with government guidelines. Employers might have the power to reduce pay at any time, but it should be in accordance with strict guidelines of the National Wages Council to protect employees.

Create a workable budget

pay cut means that you would be having less money with you. So to cope with the new pay rate you should either adjust your budget or create new one that will meet with your new pay rate but most importantly stick to the budget


Adopt other means of money making


This is the right thing to do with a pay cut. You can fill in the space by taking up other sources of income
you would have to find out other jobs you can do and get into them for more money.

 

[Leah Kelvin]

It may be hard to deal with a sudden salary slash-off, but there are strategies to handle it. Review your financial situation, talk openly with the boss, give priority to necessary bills, think about taking up part-time job or freelancing and apply for financial aid in case of need. Look through your financial plan once again, communicate honestly, reduce unnecessary expenses, find out how you can add more money and use support services that are within reach. Following these measures will enable you survive this salary cut without shaking your economic base. The most important thing is to be proactive as well as resourceful while managing funds during such trying moments.

 

[Etini]

I don't know where the original poster heard that employers have the right to cut the salary of their staff. That is false. Employers have no such rights. They can only negotiate and try to balance things out with the affected staff. If an employer cuts the salary of a staff without due consultation with the staff, there is a right bestowed on the staff to sue the employer. Be that as it may, there are certain positions that a company is in and a pay cut is necessary but the staff must be carried along.