I’m sure you saw the number: 10 million. Over 10 million people filed a claim in the last 2 weeks for unemployment benefits, more than the highest claims filed, ever. It is likely to grow this week again. All over social media, news stories, and 6-foot-distant conversations over the fence, we are seeing the employment impact of the coronavirus pandemic. As businesses remain shuttered or can’t sustain a workforce, particularly before the CARES Act begins infusing the economy with money through loans or direct payments, many millions of households are out of work.
What to do? Who can apply for a benefit? Should you as an employer tell your employees to apply for it - or for paid leave? As an employee, what if your work environment is unsafe or you have medical considerations - what do you do?
From this post yesterday, we also know it’s further complicated by provisions and timelines in the CARES Act: “[He] now faces a choice. He could hire back all of his staff for eight weeks using the PPP money. But then he’d have to either lay them off again or continue to pay them after the loan money runs out, if stay-at-home orders are still in place. That might wind up costing the business more, and may also be worse for workers depending on the unemployment they’re getting.” (Vox)
These are hard choices that are facing many millions of Americans.
Paid Leave Benefits: What Advisors and Business Owners Need to Know( Leimberg Information Services)
This webinar recording offers an overview of how to approach the new guidelines on paid leave for employees. An accompanying article by co-presenter Alan Gassman on Forbes, walks through each aspect of the new law. You do need to register to see the webinar but it is a free, 30-second process. Leimberg Information Services also has a number of articles, podcasts and other resources for businesses on CARES Act information (subscription required).