Work Sharing is a Viable Layoff Alternative (full research brief here)
Many leaders and HR professionals are unfamiliar with worksharing programs, and how they provide a viable alternative to layoffs. The above-linked research brief is dedicated to broadening the business community's awareness, understanding, and utilization of worksharing programs
In summary, the expansion of unemployment benefits through the CARES Act allows employers to take meaningful cost reduction actions (such as pay/hour reductions and furloughs) that mitigate the financial impact to their workers. In the past, layoffs were the primary tool to address cost reductions. Now, layoffs are only a tool of last resort when anticipating long-term economic impacts.
The linked 9-page whitepaper is the product of 25+ hours of reviewing primary and secondary sources related to worksharing, unemployment, and the CARES Act. Language from primary sources is used whenever it is succinct enough to be intelligible, and extensive links are provided to help readers research issues in more detail.
You can find a lot more relevant information in our prior research brief, "Save Your Startup". Please also feel free to drop me a line directly if you would like to discuss the application / implementation of worksharing programs.