When the world economy takes a downturn, as it inevitably will from time to time, businesses across all sectors are forced to make difficult decisions about their workforces. One option that is often considered in these situations is mass layoffs, which can help reduce costs and keep businesses afloat during tough times.
However, there is another option that should be given serious consideration: job sharing. Job sharing involves two or more employees splitting the hours and responsibilities of a single full-time position. This can be an effective way to retain millions of people while reducing overhead costs, and it can also be a socially responsible and sustainable solution in down times. When times improve, employees can gradually transition back to full-time work or be redeployed within the company.
Job sharing can be an attractive option for small and large buisnesses - it can help reduce the need for layoffs saving costs on lost knowledge and having to re-hire when the economy improves.
There are many benefits of job sharing, for both employees and employers. For employees, job sharing can provide greater work-life balance and flexibility, as well as the opportunity to learn new skills. For employers, job sharing can help reduce turnover rates and save on costs such as training and recruitment. Additionaly, job sharing provides other business benefits such as increased productivity, creativity and innovation. Why? When people share jobs they share best practices, help each other out and make better decisions. They hold each other accoutnable and generally feel happier at work.
When considering job sharing as a solution during tough economic times, it is important to keep in mind the following tips:
1. Communicate openly and honestly with employees about the situation and the potential for job sharing.
2. Be clear about what each employee’s role would be if a job share arrangement was put in place.
3. Make sure there is a clear plan in place for how job sharing would work in practice, including how hours would be divided and responsibilities would be shared.
4.Encourage employees to talk to each other about their expectations and needs from the arrangement, so that everyone is on the same page.
5. Be flexible and willing to adjust the arrangement as needed, based on feedback from employees.
"Roleshare is the perfect solution for businesses of all sizes during tough economic times. It helps retain talent, reduce costs, and promote a positive work environment – all while being socially responsible and sustainable" says Sophie Smallwood, co-Founder of Roleshare, a platform that helps companies retain, re-deploy, and hire diverse talent through job sharing.