Achieving Recession Readiness with SharedWork Program

SharedWork is a voluntary business program that helps retain employees at reduced hours during economic downturns. This program offers flexibility to businesses, ensuring stability, retaining skilled workers, and minimizing layoffs. By meeting specific business and employee requirements, companies can benefit from reduced payroll costs and even leverage training programs to upskill their workforce. SharedWork is currently operational in 26 states, with a focus on process improvements, marketing initiatives, and partnership expansions for ongoing success in preparing for economic challenges.

• SharedWork Program
• Recession Readiness
• Employee Retention
• Business Stability
• Economic Downturn

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Uploaded on Sep 01, 2024 | 0 Views

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Presentation Transcript

1. RECESSION READINESS WITH SHAREDWORK RAFAEL COL N, SHAREDWORK MARKETING COMMUNICATIONS MANAGER

2. AGENDA What is SharedWork? Definition Video overview Business & Employee Requirements Why SharedWork? What is SharedWork doing for recession-readiness? How can ESAC assist?

3. WHAT IS SHAREDWORK? SHAREDWORK is a voluntary business program that provides flexibility to retain employees at reduced hours when facing an economic downturn. Statutory Authority: Chapter 50.60 RCW. Chapter 192-250 WAC. State Website: sharedworkwa.com

4. 26 STATES WITH SHORT-TIME COMPENSATION (STC) PROGRAMS Arizona Arkansas California Colorado Connecticut Florida Iowa Kansas Maine Maryland Massachusetts Michigan Minnesota Missouri Nebraska New Hampshire New Jersey New York Ohio Oregon Pennsylvania Rhode Island Texas Vermont Wisconsin Washington

5. PROGRAM OVERVIEW VIDEO

6. BUSINESS REQUIREMENTS Be legally registered at least six months. Be current on unemployment taxes or a payment contract. Have a tax rate less than 5.4 percent. Enroll a minimum of two permanent employees. Comply with IRS, state, county and municipal laws, rules and ordinances.

7. EMPLOYEE REQUIREMENTS Be hired permanently and paid hourly. Be eligible for regular unemployment benefits - at least 680 hours. Apply for benefits and submit weekly claims. Be able to work all hours and be available for all work hours.

8. WHY SHAREDWORK? Support business stability Retain skilled workers Avoid or minimize full layoffs Reduce payroll costs NEW - leverage training programs to upskill workforce

9. WHAT IS SHAREDWORK DOING FOR RECESSION-READINESS? Process Improvements & Marketing Leveraged U.S. DOL Grants (implement and improve & promote and enroll) Piloted regional business sessions Building sustainability by being proactive in our preparation Ongoing partnership expansion public and private Cross training Tracking trends of impacted industries Identifying and vetting eligible businesses Targeted email blasts

10. SharedWork is a shared win BUSINESSES WIN. EMPLOYEES WIN. COMMUNITIES WIN.

11. SharedWorkWA.COM 800-752-2500 option 1

12. WORKFORCE BREAKDOWN BY INDUSTRIES Trade, Transportation and Utilities (19%) Government (17%) Education & Health Services (14%) Retail Trade (12%) Professional and Business Services (12%) Manufacturing (9%) Construction (6%) Source: ESD, 2017 Annual Washington Historical Employment Data

13. PARTICIPATION In 2017 ESD approved 596 plans 8,824 workers As of September 30, 2018 ESD has approved 521 plans 8,381 workers, currently

14. 2017 Employer Survey Results 99% would recommend SharedWork to other employers 89% would have had to layoff between 1-5 employees 83% reduced payroll costs by at least 20% 97% helped business stay afloat 97% improved employee morale 95% of employees thought the program was extremely helpful

15. We are grateful and truly believe our 80-year-old business would have had to close its doors had we not participated in the SharedWork program. We have been able to keep quality, well-trained, long-time employees on staff. Falco s

16. Our business has had its ups and downs, and without SharedWork, we would be forced to lay people off. Our employees are thankful we used it and happy they do not have to draw full unemployment. There are so many advantages to SharedWork. Spokane Galvanizing

17. HOW CAN ESAC ASSIST? We invite ESAC to consider the following: Help distribute SharedWork information to your members what are the best ways to do this? Help SharedWork sign up your interested eligible member businesses. Invite SharedWork to present at your board meeting, retreat, annual conference, etc.

18. THANK YOU!