Wednesday, October 14, 2009
Vacays without pay--furloughs
Let’s see…don’t want to fire ‘em, but can’t afford ‘em along with MY profits, so…
how about some time off without pay, so I can still bring 'em back?
Some people think this is a plus. In some ways, maybe so.
Accoding to RetirementJobs.com, 15% of employers have pulled this—including newspapers, univs, state govts, and regular old businesses.
Two days furlough a month—the average—is equal to an 8-9% pay cut. Remember when people got 3-5% raises, not cuts?
Sometimes employees can “pick their poison” and decide when to be off—but often this runs afoul of laws governing employment. Salaried employees (who don’t get overtime) are likely to be required to take a full week rather than individual days. They are not supposed to do “any” work or check in.
Sometimes a couple of days off a month qualifies you for unemployment. This varies by state. The advice is to check into it and file if you are going to be furloughed more than five days.
Usually you keep your benefits, though—which is much better than being laid off.
Many experts say furloughs are better than laid-off, so don’t bitch too loudly. But suit yourself.