PwC is giving $250 to employees each time they take a full week’s vacation for the next year
Management and Consulting firm PricewaterhouseCoopers (PwC) encourages its employees to use their vacation days by paying them a Cash Bonus to do it.
The company has announced on Friday, base salary increases across the board as well as an expanded bonus pool, both of which are funded above pre-pandemic levels.
PwC has also given a special “Thank You Bonus” this month to employees equivalent to one week’s pay to recognize employees’ efforts to keep working during the pandemic.
Timothy F. Ryan, PwC’s U.S. Chairman said, “we are encouraging and rewarding our people for living life their way. Our people are the heartbeat of our organization, and their well-being is the most important thing for us to look out for. Because it is so important to take breaks, unplug, and experience new things, we will be giving $250 to employees each time they take a full week’s vacation for the next year, “
The firm is also launching an initiative to discourage calls and meetings on Friday afternoons in the summer, Ryan said, “we are also launching ‘Fridays Your Way,’ which will discourage calls and meetings on Friday afternoons this summer so employees can dedicate time to focus on what they need.”
Ryan further said, “We’ve heard from our people that they are craving opportunities to come back together and recognize each other’s contributions and achievements in person, so we will open one office in each market for opt-in use next month and will transition to a new, hybrid model of work beginning in September.”
“This will allow us to continue to serve our clients while balancing remote work and preserving the elements of our peoples’ experience that they prefer. And as we safely open offices, we are doubling the funding for our “Real-Time Recognition” (spot bonuses) pool so colleagues can say thank you with financial rewards to one another for caring for each other and living our values.” he added in the statement.
The company is also helping the people to continuously learn and grow, Ryan said, “Over the last several years, we have made tremendous investments in our people’s digital skills training and acumen so that they can keep pace with today’s rapidly changing business environment, and we are continuing to evolve, deepen, and personalize our people’s learning experiences. We started with digital skills training and encouraged the majority adoption of a badging system, and our next step will be to offer a Diversity and Inclusion badge so we can continue to inspire our people to learn and foster a culture of belonging.”
The efforts are part of the Big Four firm’s efforts to retain employees, who have largely worked from home since the outbreak of the pandemic last year. Like many people around the world who have worried about travel since last year, many PwC employees didn’t take their vacation days, letting them build up in the hopes of taking them this year.