Serbian factory pays staff in gold

Something for the weekend…

Gold coins-pay-SFTW-2015

A factory in Serbia has paid its 315 members of staff 30 grams of 22-carat gold, the equivalent of around £800.

The Zlatara Majdanpek gold production plant is attempting to settle five-months’ worth of salary arrears to its employees by paying them off using the gold. The organisation put aside 8kg (17.6 pounds) for the purpose.

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The one-time flagship gold production plant hit financial trouble in 2000. It is currently undergoing restructuring and privatisation, which is due to begin on 14 October 2015. However, if this process fails, the Zlatara Majdanpek plant may face bankruptcy.

Should this occur, it is hoped that the gold paid to staff will help to tide them over until they find new jobs.

The Employee Benefits team is wondering what other unusual pay or reward schemes struggling organisations might have in place… This one is surely worth its weight in gold!