October 10, 2008
How Does the Financial Meltdown Affect the Family Leave Act
By admin
The Family and Medical Leave Act grants eligible employees working for covered employers up to a total of 12 workweeks of unpaid leave during any 12 month period for several different reasons. As we watch Financial Armageddon, how will this affect paternity and maternity rights and benefits?
As we look at the massive loss of wealth in the financial markets throughout the world, there will have to be large budget cuts to pay for the loss of the tax base due to the inevitable loss in economic production. Is the world about to lose economic production? Yes and at the same time, we must increase efficiencies of productivity as much as possible. Let’s review what happens when an employee leaves a job as allowed under the Family and Medical Leave Act.
The employer must either hire a temporary employee or a current employee of the company must take over your job duties. If it’s a temp position, hiring temps is expensive. Then you must take into account training time and the expenses of hiring an employee. The net effect is loss of production and increased expenses. If someone takes over your job position, then the employer may not incur more expenses but certainly loss of productivity is a real possibility.
I am deeply concerned that the turmoil in the financial markets may affect the right of dads and moms throughout the world; benefits that we have fought so hard to acquire.
Anybody have any thoughts on this?
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