24 Hour Economy and ‘The Big 4’

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Pwc Hr Economy
Pwc Hr Economy

Two of Ghana’s biggest issues currently affecting progress are joblessness/unemployment and witchcraft (both foreign and local). Local witchcraft described as mothers, sisters, grandmothers, etc, tagged as witches by members of the larger society and forcibly packed into witchcamp prisons across the country with Gambaga Witch Camp the more infamous and most deplorable and inhumane of them all. Gambaga Witchcamp is in the North East Region, approximately 49km and 50mins drive away from Walewale, the hometown of our current vice-president H.E Alhaji Dr Mahamudu Bawumia. 

Here, I refocus lest I digress from the other big issue seriously affecting our dear country, i.e., Joblessness/Unemployment. 

‘The Big 4’ is the name collectively given to the world’s four largest accountancy firms namely PWC, EY, DTT(Deloitte) and KPMG where ‘Busy Seasons’ and a 24hr work cycle has been a staple for many decades in some jurisdictions; Corporations deemed highly elite and easily identifiable across the length and breadth of the globe.  

Anybody who has ever interned, worked or passed-through any of these accountancy firms would easily recognize the concept of a ’24 Hour Economy.’  In Ghana’s quest to solve the unemployment problem which is the single most depressing problem threatening to derail an entire generation of young adults and upending many families, the 24hr work cycle if successfully introduced and implemented would indeed be a game changer. 

In principle, this concept which already exists in some industries like healthcare would be spread to other industries including   Finance and Accountancy in the country just like their counterparts beyond the shores of Ghana have been running for decades. 

Busy seasons, which could run anywhere from 6months to 9months for some and an entire 12months for others, is a period in the yearly life of a Big 4 employee where work never stops. In short, different people work at different times (shifts) continuously in a 24hr timeframe throughout the lifetime of a project. This is a period of tremendous hiring for many firms since as much hands as possible are needed to complete assignments. The burn out rate is so high during this period for various interns, independent contractors and consultants that compensation is exceptionally high. Some interns and consultants who make it through this period would get full time positions while others who may not necessarily enjoy the year-round experience of such tremendous workload would much prefer to be yearly seasonal hires using the time in between hires to either cool off or pursue other interest.  

Because the accountants work nonstop for 24hrs, other support services like IT (information services) and janitorial services also do the same. Security and front desk personnel would equally work 24 hours. All these lead to new hires and employment for people who would have been wilting away otherwise, abusing alcohol and other hard drugs in their quest to forget their daily ‘wahala.’

 

The concept of a 24hr work cycle is rather straightforward; There shall be a 1st, 2nd and 3rd shift for most corporations with new hires and employees who are compensated for their output thus helping to cut down on the unemployment rate. 

Indeed, some firms may need extra motivation in the form of tax breaks and other incentives to participate which would be a tax break worthy for dishing out since these breaks would be in barter for jobs for the people. Rather, we currently have a system where tax breaks are given based on friendship, nepotism, greed, and sheer buffoonery without corresponding production or benefits to the larger society. 

The concept of a 24hr economy already exists in many jurisdictions and various industries including engineering, fast foods, etc. Admittedly not every company can participate in a 24hr work cycle nor would it make sense for government to suddenly be imposing or incentivizing the wrong players just to create artificial payroll. The concept works in other places and all Ghana must do is to learn and implement it efficiently and effectively. It is not the cure for all issues Ghana faces today but at least it is a starting point. 

Instead of always embracing the buffoonery from other countries, we may import something great and lasting for once with the concept of a ’24 Hour Economy.’ The Chinese and Koreans did it by learning the good things the West has to offer and adding their localized touch to it. 

Should it succeed, we Ghanaians would discover that not every country on this earth looking for solutions to their problems (ex. unemployment) took huge sums of money to promote the ills of other societies in their countries. 

Fellow Ghanaians, what we need most are Jobs, Jobs and Jobs not some garbage called human rights which no one seem to be able to define except our dear president H.E Nana Akufo-Addo and his band of profiteers.  

Happy Republic’s Day to All Ghanaians.

GYE-NYAME!

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