No it's not. Some countries have a 'high' exchange rate because , f'instance they ahve a lot of mineral or oil depositis. Some countriesw (like the USA until recently) have a high exchange rate because other countrioes are willing to build up credit balances in that country. The exhange rate has very little at all to do with labour productivity .
Arguably, such a scheme will REDUCE productivity.Because it will increase churn in the workforce , shortsighted employers will focus on turning over work force numbers within the ninty days (having gotten 90 days of cheap labour with the usual rorts about training periods and such like); the constantly changing workforce never becomes properly skilled , quality goes to hell (most employers don't give a shit about that).
And of course ,what's sauce for the goose is sauce for the gander. When Jack is hired on a "90 days and you're out , mate" basis, he's not going to stop looking for another job when he signs on with you. Mayhap he'll phone in on day 60: "Sorry mate, won't be in any more, I've been offered 50 cents an hour more at the opposition, start today . Yeah I know that leaves you in the shit with that contract you're committed to. Sucks , eh". That's the nature of a casualised industry . Nobody gives a shit about anybody but themselves.
Such a scheme in the IS industry would be disaster for employers: nothing better than a coder quitting half way through a project , with zero notice.
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