Pros and Cons of Work-Share Programs

In times of uncertainty, particularly when there’s a financial crisis, work-share programs can serve as a temporary solution. But, these systems are not perfect. However, that doesn’t necessarily mean you should outright dismiss the option. Read on to learn more about the pros and cons of work-share programs.

Biggest Downsides of Work-Shares

As the nearby quote explains, work-share programs are offered by local governments to help small businesses in times of need. They give businesses the ability to reduce employee hours without having to resort to letting them go. As you might imagine, work-shares have their pros and cons. And, the first downside is that your business (or employees) might not qualify. If it does, another downside is that it could be more lucrative for team members to find alternative employment.

Work-share programs let businesses temporarily reduce the hours of their employees, instead of laying them off during economic downturns. Technically referred to as short time compensation, the goal of work-sharing programs is to reduce unemployment. Work-sharing should not be confused with job sharing, which allows two part-time employees to share one full-time job. Instead, work-sharing allows a full-time worker’s hours to be reduced, in lieu of laying off the worker.
—National Conference of State Legislatures

Of course, if there’s an outright unemployment option that effectively supplies comparable or more compensation, that’s another downside. Then, there’s the matter of timing. Meaning, how long you’ll need the assistance and whether or not it’s sufficient to carry you and your employees through.

Top Advantages of Work-Shares

Now, there are obviously good things that come with work-share programs. These can be a real lifeline when you and your business needs it most. Here are some of the largest benefits of work-share programs:

  • You can avoid layoffs. Okay, the most obvious advantage is the fact that you don’t have to resort to firing team members from your company. Work-share programs help you to keep your employees on the payroll, even if it’s a smaller one.
  • It provides ongoing continuity. Another benefit is that your business can essentially carry on as usual (or as good as possible) for at least a short period of time. That can really help to save your business’ operations and keep productivity going.
  • The arrangement helps maintain morale. Yet another upside to a work-share program is it helps to keep morale up since you’re keeping people employed and in a familiar work environment — even if it’s temporarily in another setting.
  • You don’t have to start over again when it’s over. When the time comes to resume normal operations, the ability to retain employees helps you avoid having to hire all new staff and start over by training from scratch.

What other pros and cons would you add to the list? Please comment and share your thoughts and experiences!

Interested in learning more about business? Then just visit Waters Business Consulting Group.

Like this article?

Share on Facebook
Share on Twitter
Share on Linkdin
Share on Pinterest

Related Posts

Studies and Statistics Show Gen Zers Prefer Entrepreneurship – So How Do Small Businesses Attract Young Talent?

February 9, 2024 No Comments

Studies and Statistics Show Gen Zers Prefer Entrepreneurship – So How Do Small Businesses Attract Young Talent? (WBC) In recent years, the entrepreneurial spirit has been on the rise among the Gen Z population. With more and more young people opting to start their own companies, small businesses face a unique challenge in attracting young talent. That necessitates learning various strategies small businesses can employ to attract Gen Z talent and remain competitive in today’s job market. Understanding Gen Z’s Entrepreneurial Drive The demographic cohort born between the mid-1990s and the early 2010s – Gen Z – has grown up in a world of rapid technological advancements, social media, and global connectivity. This has fostered a strong sense of independence and an entrepreneurial mindset among many members of this generation. Gen Zers are known for their desire to make a positive impact on the world, their focus on social and environmental issues, and their preference for flexible work arrangements. By understanding these characteristics, small businesses can tailor their recruitment strategies to appeal to this demographic. Strategies for Attracting Gen Z Talent In a landscape where Gen Zers are increasingly drawn to the allure of entrepreneurship and startup ventures, attracting their talent to small businesses may seem like a challenge. However, there are strategic approaches that savvy small business owners can employ to entice the entrepreneurial-minded Gen Z workforce. Offer flexible work arrangements. Gen Z values work-life balance and flexibility. Small businesses can attract young talent by offering flexible work hours, remote work options, and a relaxed company culture that promotes a healthy work-life balance. Provide opportunities for growth and development. Gen Zers are eager to learn and grow professionally. Small businesses can attract young talent by offering training programs, mentorship opportunities, and clear career progression paths. Leverage technology. Gen Z is the first generation to grow up as digital natives. Small businesses should embrace technology and digital tools to streamline their operations and appeal to young talent. Offer competitive compensation and benefits. While Gen Zers value purpose and impact, they obviousl expect fair compensation and benefits. Small businesses should offer competitive salaries, health insurance, and retirement plans to attract young talent. Emphasize purpose and impact. Gen Zers are highly motivated by the desire to make a difference in the world. Small businesses should highlight the social and environmental impact of their work, as well as the company’s commitment to making a positive change. And, here’s a bonus tip – don’t be afraid to embrace their entrepreneurial spirit! Offer internship programs focused on innovation, consider employee ownership options, or even collaborate with them on side projects or ventures. Remember, Gen Z sees work as an extension of their lives, not just a means to an end. Find ways to integrate their entrepreneurial ambitions with your business goals, and you’ll create a win-win scenario for everyone. By adapting your approach and creating an environment that resonates with their values and aspirations, your small business can become a magnet for the dynamic and innovative talent of Gen Z, propelling your company to new heights in the years to come. So, open your doors to the entrepreneurial spirit, and watch your hive buzz with the energy of the future! Want to Accomplish More? Do you want your company to grow faster and earn more while you spend more time with your family doing all the things you started your business to do? We can make that dream a reality. Give us 30 minutes and we will show you how to get your life back. Skeptical? Good! Put us to the test. You can call us for your free appointment at 602-435-5474, or, if you prefer, send us an email. You can also visit us at Waters Business Consulting Group to learn more about us and the services we offer.

Read More »

No, Your Customers Don’t Really Care (or Want to Hear) about Your Problems – So Stop Complaining

September 1, 2022 No Comments

The economy is in a recession. Interest rates are going up. Inflation is rising. There’s a labor shortage. (And, materials are still not readily available.) The list can go on and on and on. What’s even worse, is there are business owners actually do go on and on. They complain about this, that, and the other thing. Some even take it to the next level and complain about things that haven’t even happened yet. Then, although somewhat rare, there are entrepreneurs out there who go so far as to put their gripes and grievances on social media. This doesn’t paint a very positive picture and of course, it does absolutely nothing to correct what is perceived to be or is wrong. In reality, it does far more harm than it does through catharsis. So, if you’re guilty of this extremely unattractive behavior it’s time to stop, and here’s why. The Internet is Forever All right, very few business owners actually do complain over the internet but where it’s mostly found is social media. Regardless of the digital property, the internet is forever, meaning that once it is out there, it’s usually not possible to take it back. Even if you’re able to delete it, you’ve already left a negative impression. We sometimes deny that we’re complaining. Instead, we say that we’re just “being honest,” “venting” or “blowing off steam.” But don’t kid yourself: Whenever you insert negative feelings into a conversation without some sort of resolution, you’re complaining. It’s tempting because there is a lot about entrepreneurship to complain about —Entrepreneur.com Then, there’s something else to keep in mind. Business owners don’t need to be the ones writing complaints about this or that on the web. Dissatisfied customers will do that instead (and probably with good reason). In other words, if you complain to your customers or in front of them, there’s a good chance they’ll share that experience and that isn’t good for your business’s public reputation. Instead of Complaining, Do the Following Everyone is guilty and capable of letting their complaints be known. But for business owners, this is a very bad choice with no real upside. Whether you’re complaining about a problematic customer, an inhospitable vendor, or your bank charging petty nickel and dime fees, you’re still doing it with negative emotion. Sure, people will understand your frustration, but customers really don’t want to hear about it or even care. So, what should you do when something bothers you and you’re dealing with a customer at that time? Well, the first suggestion is to ignore or resist your instinct to interject complaints and bite your tongue. If you’re able to put it off for a little while, you’ll be able to vent to the right people in an appropriate setting. Should your personality be one that says it’s best to be honest with everyone and use that excuse as a justification, think twice before you start blurting out complaints. Ask yourself what would you think if you were the customer hearing this? Merely putting yourself in your customers’ shoes ought to be enough to dissuade you from griping. At the very least, it will give you pause to adjust your attitude. It’s also helpful to remember that complaining doesn’t solve anything. Yes, it does allow you to get something that’s bothering you off your chest, but that’s not usually worth the ultimate cost. Remember that it is not an attractive or trustworthy trait and you’ll do yourself a huge favor. What other advice would you give business owners who have a bad habit of complaining to customers? Please share your own thoughts and experiences so others can benefit from your input! Interested in learning more about business? Then just visit Waters Business Consulting Group.

Read More »