Nova Scotia has had two major blizzards so far in the winter of 2013/2014. My question is – what is the economic impact?
Some employees who are not able to get to work will not be paid, some employees will be paid even though they did not work.
Stores that are not open do not make any sales. If they pay their employees then the store owner is losing money. If they don’t pay their employees they lose less, but the employees also lose. Can a business earn money when it is not open?
When a University closes the students do not expect a partial refund of tuition – so there is no loss of revenue for the school. Their employees can be paid without the University losing money.
Depending on whether you are able to find customers who will pay even if they do not receive the services – such as the university example – or you are the store owner – you have a decision to make. Do employees get paid when the business is not open?
There is a governance issue, an HR issue and a profitability issue to be considered. Snow days are also hard on triathletes who prefer to train outside.