How a Work Share Can Benefit Both Employees and Employers
Layoffs are hard for the employee, the supervisors and the company as a whole. The decision to cut back on staff is never an easy one, but there is an alternative.
A work share is an alternative to layoffs and gives employers the chance to cut back on hours and salaries, instead of cutting back on staff. In return, employees can tap into their unemployment benefits. The idea has been accepted by several states and here's why:
Employers Retain Skilled Employees
Times might be hard now, but skilled employees will be needed in the future when the economy picks up and companies are no longer cutting staff. Work shares give them a chance to cut back on funds, but still retain their key employees.
Employees Avoid Unemployment
Having hours cut or salaries reduced are still a better option than hitting the unemployment line, so many employees like the idea of keeping their jobs with Work Share.
Employers Keep Costs Down
Work Share allows employers to cut down on costs and stick to strict budgets without putting in place major changes such as letting go of entire departments.
Employees Avoid Gaps in Career
Not only will employees be spared any emotional or financial hardships, but employees won't have a gap on their résumé that could stall their career. Instead of starting from scratch, employees can continue climbing the corporate ladder, which is hugely beneficial to them once business picks back up.
Employers Avoid Training Costs
If an employer has to lay off part of their staff, it only means at some point they will have to hire inexperienced employees to fill in the gaps at a later time. Training new employees is expensive and time consuming, an expense that can be avoided with Work Share.
Local Economies Benefit
The economy benefits from Work Share since employees are still receiving an income. Plus, unemployment funds will last longer with part-time layoffs in place through a Work Share program.
Do you think your company can benefit from a Work Share program? Currently there are 18 states that are finding Work Share programs to be successful for both employers and employees, including California, New York, Texas and Florida.