HBR: You’ve Been Furloughed. Now What?

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What follows is an excellent piece from HBR. What we can add is that for those looking for a position in our industry – or trying to fill one with a truly qualified person – the new AAPN job board is available to all members.

The AAPN job board allows you to post a resume, or for employers, a job. Through June 30, 2020, we're offering the ability to post jobs to our board at no charge using the code TOGETHER2020 to show support for our community. We hope you’ll take advantage of it, but for now, back to the article:

Many of us join companies thinking we will have a clear path of progression and growth for years to come. For the most part, since the last recession, this has been true. But what started as a health crisis has evolved into a redefinition of work, with an estimated 18 million Americans furloughed since mid-March.

The economy has taken a serious plunge, and now the millions waiting for their careers to resume are faced with a new question: Should I wait for my furlough to end or should I apply for other jobs?

Furloughs — a word that until recently was unfamiliar to most people, including business leaders — are the talk in boardrooms and at breakfast tables around the world. Furloughs are temporary, unpaid leaves of absence that several businesses have bestowed on employees due to financial hardships. The catch is that employees on furlough are able to maintain their health insurance and 401K benefits. At the same time, they are not provided a salary during the leave, and under such circumstances, can collect unemployment and benefit from the CARES Act.

A key consideration in furloughs is that the employees have the opportunity to be called back to their jobs once their organization recovers — though there is no guarantee that this will happen. In part, whether or not they return will be contingent on the demand for their former jobs to return. Many people in this position are struggling to gauge which decision is wiser: waiting for things to revert to normal (or at least the new not-normal), or thinking in shorter term and applying for a new job now.

In our view, there are five key points to consider if you are debating whether to seek work during furlough or not. Read More