SharedWork Program Can Help Your Business Retain Talent During Economic Downturn

Economic variations can affect business dramatically. Fortunately, business-friendly programs like SharedWork can help you retain talent during an economic downturn, in the face of increased competition, or higher supply costs.
Not to be confused with job sharing when two (or more) workers share the duties of a full-time employee, SharedWork allows businesses to reduce a full-time, permanent worker’s hours by 10 to 50 percent in lieu of a layoff. Employees then collect unemployment insurance benefits equal to the percentage by which their hours have been reduced. While SharedWork does not replace all of an employee’s lost wages, unemployment supplements their income until they return to full-time status.
Over 3,488 businesses in Yakima County are eligible for SharedWork. There is no cost to determine eligibility, to apply, or to be approved. SharedWork is available for up to one year, and businesses may reapply at the end of that year. Better still, there is minimal impact to unemployment insurance (UI) tax rates.
Your trusted business partners at Yakima County Economic Development Association and the South Central Workforce Council encourage you to see how SharedWork can help. In less than 60 seconds, we can determine eligibility. Call and speak to a live SharedWork specialist during regular business hours at 800-752-2500.

Leave a Reply

Your email address will not be published. Required fields are marked *