by Tim O’Hare
Employment rates are slowly rising across the country, but the jobless rate remains near eight percent. The U.S. Bureau of Labor Statistics reports an increase of 157,000 jobs in January, and a jobless rate of 7.9 percent. With costs for employers rising, many businesses are choosing to lay off employees for financial reasons.
An estimated 20 percent or more of employees would fall into the “underemployed” category, meaning they have jobs, but are underpaid, lacking benefits or working only part-time when full-time work is needed.
The economy has no doubt made things difficult for employers when it comes to hiring and maintaining employees. Even worse, last month everyone’s Social Security taxes went up based on a deal between Congress and the President. Companies continue to lay people off left and right, and it’s all about the bottom line — money. But this isn’t the only way.
If your business relies on other individuals to keep it afloat, managing your day-to-day-operations, it’s important to recognize the value of your employees, no matter the state of the economy.
Over the years, we have maintained these standards of value for each and every one of the individuals we employ at The Law Offices of Tim O’Hare:
- We have never laid off anyone for financial reasons. In fact, I would take a significant pay cut before I laid somebody off for financial reasons. If someone who works for us is working hard and conscientious about his or her work, they are invaluable to our business, and we will do what it takes to keep them.
- We will not hire anyone without providing health insurance (unless they have it through a spouse.) There are many people who would take a job with no benefits simply because it’s a job, but oftentimes these individuals are unable to afford health insurance on their own. We provide health insurance for each employee, at no cost to them.
- We take time to show our employees appreciation throughout the year. This comes in many forms, including company lunches, holiday lunches, three days off work at Christmas, Good Friday off, casual Fridays and more. It’s important to value our employees in the little ways as well.
No business has been untouched by the woes of the economy the last several years. If your business doors remain open and you have employees who work hard for you, find ways you can ensure your employees know their value to you and to your company.
If you are looking are looking for a personal injury attorney with integrity, who will do everything to protect you and your case, contact the experienced legal team at The Law Offices of Tim O’Hare. We will help you receive all due compensation for your injury or loss.
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