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Earlier this year, we reached out to employers who participated in the SharedWork program. We asked them how it went, and 92% said they had a positive or better experience. Given that SharedWork helps save both businesses and jobs, we’re proud to report that.
Survive economic downturns
Employers apply for SharedWork, but everyone benefits. The program can help employers and employees during economic downturns. It helps employers prevent layoffs by offering the flexibility to retain their employees at reduced hours. Participating employers can reduce employees’ usual weekly hours from 10 to 50% to save payroll costs. Their workers keep their jobs and get a prorated percentage of unemployment benefits.
This can have a big impact. 78% of employers were certain SharedWork helped their business survive an economic downturn. Only 1% of responses thought SharedWork did not help them.
Retain your work force
“It’s a really good thing we have SharedWork,” said Suzette K. of NorthWest Granite & Flooring. “Or I could be at risk of losing the employees with whom I’ve invested thousands of dollars in training.” Suzette was not alone in that feeling. 90% of survey responders said SharedWork was very helpful at keeping their skilled workforce intact.
SharedWork also saves employers in other ways, too. 69% of survey responders said they were able to reduce payroll costs by 11% or more. “[Our employees] work the hours we have for them, and they do the SharedWork claim for the difference,” said Brenda S. of Dayco Heating & Air Conditioning. “Now the whole company is on SharedWork, and we love it.”
Keep morale up
Employers also said their employees seem to love SharedWork, too. 75% of survey responders felt the program was very helpful at improving company morale and employee loyalty.
With SharedWork, employees can keep their jobs even when there is not enough work for them. They may work fewer hours, but the program helps make up for a portion of their lost wages. 93% of responders reported their employees felt the program was at least moderately helpful for them.
Learn more about the SharedWork program and how it helps both businesses and workers.