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Keystrokes is killing itself - bw

Posted: May 1st, 2019 - 6:45 pm In Reply to: Keystrokes hits an historic new low. - DisgustedMT

When a company pays its employs late, it really starts a vicious circle.

First of all, individual employee productivity goes down. This happens for several reasons: First is the frustration of being paid late and the sense of impending company failure. Second is because most employees faced with such a situation begin to contingency plan. Many, if not most employees will take second jobs for financial security, so some hours that used to be spent working for the late-paying company are now spent working at the second job... and if that job is accommodating enough, eventually ALL hours that used to be spent working for the late-paying company are now spent working at the NEW job.

Second of all, with the internet, comes the bad reputation. A transcription company isn't like a retail store that can screw over one set of employees, have them all leave, and then hire a new bunch of suckers who have no idea what happened a week later. There is a "permanent record" of a bad company's behavior on the internet for this industry, and you are looking at it. And you know what? It's located right next to this industry's help-wanted ads. And nowadays, other than perhaps having to use VDI, nothing will stop the flow of resumes faster to a company than being labeled as "late paying."

So, if you are a transcription company and you want to kill your business as quickly as possible: Pay your transcriptionists late. (1) Production will go down and you'll lose your most valuable production assets, and (2) you will find nobody wants to work for you when you try to replace them.

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