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Webinar | March 2021
Utilizing Workshare Programs During Economic Downturns
Workshare programs, also known as short-time compensation, allow businesses to temporarily reduce employees' hours, rather than resorting to layoffs, during economic downturns. Approved workshare programs allow employees to qualify for a percentage of unemployment benefits, determined by the amount of time their hours have been cut. Designed to reduce overall unemployment, worksharing has the potential to benefit businesses and workers, while also supporting state unemployment coffers by reducing the total amount paid toward unemployment claims. Currently, more than two dozen states have approved workshare programs. This virtual program provides an overview of worksharing, how it has been used during the current economic downturn, and what actions states can take to utilize such programs in the future.