PEOPLE
And even the most hardened employers – those who were until recently demanding all workers return full-time to the office – are jumping on the flexible work-perk bandwagon .
Here ’ s looking at you Goldman Sachs , whose CEO David Solomon had until recently repeatedly insisted that employees return to the office full-time ; but has since told its most senior bankers they can take as much holiday as they want so they can ‘ rest and re-charge ’.
This sentiment to ‘ re-charge ’ after what has been a particularly long and difficult few years is popular among forward-thinking firms , as they look to reward and incentivise workers with more holidays and WFH allowances .
In fact , for employers , this work perk might just be the secret sauce needed to tackle the growing rate of employee burnout , and attract and retain employees amid tight labour market conditions and the Great Resignation .
Rise of unlimited time off
Originally a perk offered by startups and tech companies , unlimited vacation policy , otherwise known as DTO ( Discretionary Time Off ) or unlimited PTO ( Paid Time Off ), is gaining traction , especially in the US , where workers take less vacation time than many of their counterparts worldwide .
LinkedIn said in 2015 that it shifted to unlimited PTO in a bid to give employees more flexibility and a sense of empowerment , while Airbnb is betting on a wider talent pool and increase in diversity . Some businesses have adopted the policy to encourage workers to take more vacation time , as a way to limit burnout and increase productivity .
The results of unlimited PTO appear as varied as the reasons . Talent consulting firm
WilsonHCG , which unveiled its unlimited PTO program in 2020 , has seen the number of vacation days employees take rise by 57 %, while HR platform Namely found that employees with unlimited vacation plans take an average of only 13 days off per year , whereas traditional-plan employees average 15 days .
Regardless of results , the offer of unlimited PTO is considered a major perk by many , and is known to to help in recruiting and retaining talented employees , and in increasing morale and reducing burnout . When asked what non-traditional perks and benefits interest employees , 80 % said increased paid leave or paid time off , according to the 2021 US Employee Benefit Trends Study by MetLife .
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