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Furloughs are becoming increasingly viewed as a viable option for controlling labor costs while retaining talent, a new survey by global management consultancy Hay Group has found. Among more than 100 U.S. organizations polled, more than one-third either has a furlough policy or is using furloughs as a way to control costs. Within that group, half anticipate using furloughs to cut costs for six to 12 months. And while furlough maximums vary from four days to one year, more than half of those using them or that have a furlough policy, don’t have an established maximum length, the Hay Group found. “It was really clear to us that this was becoming a bigger issue than we thought at the time, and it was more pervasive than we thought,” said Marie Dufresne, a senior consultant and national benefits practice leader for the Hay Group. Among those using furloughs or who have a furlough policy in place:

Peter Westerman

Credit Union Times

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