Time Is the Hot New Perk: Here Are 5 Ways Companies Are Handing It Out
By | Phyllis Furman | www.linkedin.com
Employers are doling out time off like there’s no tomorrow, as they seek to fight burnout and satisfy employees’ demands for more work-life balance.
From no-meeting days to company-wide shutdowns, time has become one of the hottest perks to emerge from the pandemic, and employers are showing few signs of rolling it back. A survey by outplacement firm Challenger, Gray & Christmas found that 23% of U.S. employers have expanded their paid time off offerings.
Having more hours to devote to family and other personal matters is the No. 1 priority for job seekers today, LinkedIn data shows. With a record number of workers quitting their jobs, companies see offering more time as a key to attracting and retaining talent.
Employers also have become increasingly concerned about rising employee burnout and the impact it’s having on productivity. By providing more downtime, they’re looking to lower stress levels and boost employee well-being.
But companies aren’t just tacking on more vacation days. Take a few minutes to read about the creative strategies employers are using to give employees the gift of time:
1. Meetings are getting the axe
More employers are recognizing that back-to-back meetings can be draining and often drag on longer than necessary.
Thomson Reuters changed the default time periods for scheduling meetings from increments of 30 or 60 minutes to 25 or 45 minutes, while PwC set a goal of reducing the length of meetings by 25%. Wiley, Peloton, Axiata, and others have gone ever further, designating full or partial meeting-free days.