Health consequences aside, pandemics can wreak havoc on businesses, upending supply chains and employment models around the world. To help curb the spread of disease, public health officials may recommend that employees work from home, be placed on furlough or work fewer hours. In addition, the U.S. Department of Labor may provide guidance on how U.S. employers should handle wages during the pandemic.
The National Partnership for Women and Families says that "at some point, nearly everyone will need to take time away from work to deal with a serious personal or family health condition, or to bond with a new child." Yet only 19% of U.S. employees receive paid family leave through their employers.
The COVID-19 pandemic is affecting all aspects of finances, including retirement savings. The CARES Act contains provisions affecting these plans that will remain in effect for 2020. They include the following:
The health care community is fighting the coronavirus — officially named COVID-19 — on the medical front. But there are business issues as well, especially relating to the way companies manage their offices and employees. Managers face practical, emotional and legal considerations.
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