An employment letter spells out the terms and conditions of work to the employee. A staff handbook whether written or unwritten also spells out the expected behaviour of the employer and obligations of the employer and what should be obtainable from both parties.
Compromise – To accept that you will reduce your demands or change your opinion in order to reach an agreement with someone.
Con – to make someone believe something false usually so that that person will give you their money or possession.
Promise – a declaration that one will do or refrain from doing something specified.
Tinuke and Tunrayo were professionals/colleagues and best friends who needed advancement in their Stock Broking careers. Having applied to many places, they both got job offers that were ‘the dream’.
Tinuke got a job with AAI Investments, a reputable company while Tunrayo got a job with Titus and Magnus Investment Brokers, a startup. They were ecstatic as their offers provided training (both local and foreign) medical insurance, fully paid holiday trips including tickets and stipends, etc.
One year down the line, they became very concerned, as they realized that they were not getting their dues. They could read between the lines in the management financial reports and see exactly what was going on within the firm.
At Tinuke’s office, a staff meeting was called to address the situation. Her take away – the stock market was in crisis and the company could no longer keep to their promises as written in their contract of employment. The only feasible solution was either lay off staff or cut salaries; as the company did not want to lose its employees. The management was open and honest with them and they all considered their options.
Some were visibly angry and opted to leave but the majority decided that they would rather have a pay cut than be out of a job. There and then, they restructured roles and responsibilities and everyone was relatively ‘happy’.
It was the opposite situation in Tunrayo’s office. It came to light that the CEO and CFO were actually doing a lot of shady deals to the detriment of the company. Tunrayo found out that there was no plan to actually fulfil the terms of either the contract or staff handbook as the terms of the employment letter were made to lure in workers. She saw that neither the CEO or CFO were remorseful about the whole incident and in fact threatened to shut the company down.
She debated on whether or not to quit even before getting another job – at least the earlier she starts job hunting, the better. The angry and betrayed part of her was also looking at suing the company and the principals.
Have you ever found yourself in either Tinuke or Tunrayo’s shoes? What did you do? What would you advise?