Now, your business isn't Skadden (well, unless it is, in which case: thanks for reading!), and you probably can't pay any of your employees $80,000, or even whatever one-third of their base pay is, to take the year off. However, there is a broader lesson to be gleaned that could apply to your business just as much as it applies to Skadden. You may need to cut payroll expenses in order to make ends meet, but that does not mean you shouldn't do everything in your power to hold on to your best talent. Does that mean offering shortened workweeks? Does that mean something more along the lines of the Skadden model, in which more generous time off is offered (or even compelled) at a discounted compensation rate? That's for you to decide, according to what best fits your business and its balance sheet. But now is very much the time to be flexible, as even the biggest law firm is showing us.
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