Archive for March 3rd, 2010
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More States Considering Work-Share Programs
Work-share programs can be an effective way for companies to fend off pressure to downsize and eliminate jobs. Instead of laying off employees, hours are reduced with the government stepping in to help offset or subsidize lost wages. As this article reports, “Work-sharing lets employers avoid the costs of severance and of training new hires when the economy rebounds. For workers, it eliminates the trauma of layoffs and helps preserve morale.”
According to the National Association of State Workforce Agencies, a record 166,000 jobs were saved in the 17 states that offer the option vs. 58,000 in 2008. An additional seven states currently have drafted work-share legislation: Colorado, Hawaii, Ohio, Oklahoma, New Hampshire, New Jersey and Pennsylvania.
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