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Financial impact to your business or organization

Because there are costs associated with a Shared Work agreement, you should carefully assess your situation to determine whether you will benefit.

  • If you are a taxpaying employer, your unemployment rate will increase for the next four years because the benefits paid to your employees will be charged to your employer account.
  • If you are a reimbursing employer, you will be billed for the benefits paid to your employees.
  • Will your cost savings from reduced operations offset the costs of a Shared Work Agreement?
  • Do you have a recovery plan for your business or organization that includes retaining all of the employees that would be included in the Shared Work Agreement? Keep in mind that if you lay off any employee who is participating in a Shared Work agreement, the agreement will be terminated.
  • Have you carefully considered what percentage reduction in hours will work best for your company or organization?
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