Startups and Fortune 500 firms are rethinking the structure of paid time off, and extending company-wide vacations, as part of efforts to reduce burnout and stem the flow of resignations.
According to Axios, specifically, a growing number of companies are giving their entire staff the same day or week off—separate from the employees’ personal vacation time— and finding that it’s a lot easier for teams to fully unplug and get better restoration if their managers and peers are also not working. LinkedIn, Hootsuite, pharma giant Bristol-Myers Squibb and Bumble have all tried this strategy with positive results.
Surveys indicate that life satisfaction has fallen for workers during the pandemic, prompting companies to institute several policies to try to help such as mandatory time off or unlimited vacation days. Company-wide time off is the best solution, according to experts.
However, telling everyone to go home for the week is not possible for every type of workplace. One solution is to give entire teams or departments synchronized time off. Read the full story.