Blog: How is Modi’s trump card on black money affecting employees?

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How is Modi’s trump card on black money affecting employees?

9th November is indeed a historical day both for the US and India. Although Modi's aim to curb corruption is highly applauded, but lets see how it has affected people coming to work.
How is Modi’s trump card on black money affecting employees?

Once again Narendra Modi has struck into the heart of black money trying to uproot corruption from the nation. Although it is a bold move, the sudden news has taken the entire country by surprise. The midnight announcement left people with black money to bear the brunt of using notes that they have been stashed away for years. But let us see how this surgical strike on black money has affected the daily working life of Sonal, an employee working in the corporate world. 

Early this morning when Sonal was all set to come to work, she realized that her wallet has six 1000 rupee notes. Given Modi’s announcement banning Rs 1000 notes the previous day, this throws her into a state of shock. She then decided to visit the bank in order to get her currencies exchanged. With the entire nation hitting banks to get their 500 and 100 rupee notes exchanged she could not help but return seeing the long queue at banks. The consequence of this mayhem was that she had to arrive late to work and face the wrath of her boss thus killing her productivity. 

Well, that was not the end. Working for a small-sized company without an elaborate cafeteria; she faced problems in paying the daily vendor supplying food and beverages. There were no options of cash on delivery left for her to order food from nearby restaurants. Altogether she was left in a state where she raised a question what good is this new move doing to me?

Although this has been a brilliant move by Modi in weeding out black money from the nation we also have to look at the above story, which leaves one perplexed. So what can be done in order to overcome such difficulties?

I believe companies have a huge role to play in this. Companies holding employee accounts with the banks can discuss and streamline the process of exchange of 500 and 1000 rupee notes. Small sized companies lacking cafeterias can help employees by providing foodstuff to employees like Sonal.

But there are companies who are taking the initiative to help their employees ease their daily problems being faced. Sarjeev Sethi, CEO, People Connect said, 

'I believe this is a great move and will go a long way in benefiting the entire nation. This move over the long term will reduce the cost of housing and inflation. Coming to the difficulties that employees are facing after the news was declared; companies can provide flexibility to employees to work from home whenever possible".

Although there might be some inconvenience to people in the short run, but companies can surely ameliorate such obstacles and make their employees feel proud of their PM who’s not afraid to act!

So what were some of the difficulties that you faced on the first day of the move? How do you, as HR professionals plan on solving the problem for your employees?

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