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COMPANIES USING NON-PAID VACATION TIME TO AVOID LAY-OFFS GET UNEXPECTED DIVIDENDS

 COMPANIES USING NON-PAID VACATION TIME TO AVOID LAY-OFFS
 GET UNEXPECTED DIVIDENDS
 PHILADELPHIA, April 22 /PRNewswire/ -- Offering non-paid vacation time to minimize employee separations during downsizing often results in positive and unexpected outcomes for the company, according to a study released by Right Associates S?DAQ: RMCI).
 The study of 1,204 companies showed that 9 percent of the 909 companies which reported downsizing during the past five years used non- paid vacation time to reduce lay-offs.
 Those companies which offered employees non-paid leave built a healthier new company than those which did not. Eight-seven percent of executives from organizations using non-paid vacation time reported the ability to maintain a lean workforce after downsizing vs. 73 percent in the overall study population; 82 percent reported establishing a better competitive position vs. 65 percent for all respondents; 81 percent reported their company had a better financial position vs. 70 percent for the total study group; 59 percent reported the ability to continue research and development vs. 45 percent for all respondents; and, 51 percent reported the ability to introduce new products or services vs. 41 percent for the total study group.
 "Companies which use non-paid vacation time to reduce lay-offs also are sending their employees a message -- we care about you," said Stanley R. Tilton, president and chief executive officer of Right Associates. "Though the company has to cut back, many employees who otherwise would have lost their jobs still have them. Employees understand the message and maintain their commitment."
 This information and the complete analysis of the study will be presented at executive briefings being conducted at Right Associates offices across the United States. A published version of the study, "Lessons Learned: Dispelling the Myths of Downsizing," will be available to those who attend.
 Right Associates, headquartered in Philadelphia, has more than 85 offices across the United States, Canada and Western Europe. It is the world's leading publicly held consulting firm specializing in career management and human resource consulting. The firm is well known for its career transition consulting services designed to help employers with termination issues and to help separated employees develop skills and strategies to assist them in finding new employment.
 /delval/
 -0- 4/22/92
 /CONTACT: Virginia M. Lord of Right Associates, 215-988-1588/ CO: Right Associates ST: Pennsylvania IN: SU:


CC-LJ -- PHFNS3 -- 1008 04/22/92 07:32 EDT
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Publication:PR Newswire
Date:Apr 22, 1992
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