Management and Consulting firm PricewaterhouseCoopers (PwC) is paying a Cash Bonus to its employees in order to encourage them to use their vacation days.
Base salary has been increased across the board and the bonus pool has been expanded. Both of these are funded above pre-pandemic levels and were announced on Friday. Also in order to recognize employees’ efforts during the tumultuous times of pandemic, a special “Thank You Bonus” has been given by the company to its employees. This bonus is equivalent to one week’s pay.
$250 Each Time an Employee Takes a Full Week’s Vacation
Emphasizing the importance of taking breaks, unplugging as well as experiencing new things, PwC’s U.S. Chairman Timothy F. Ryan announced that the company shall give its employees, $250 each time they take a full week’s vacation for the next year. He said that employees of the company are at the heart of the organization and hence it is paramount that their well being is taken care of.
Other Initiatives & Plans For The Well Being of Employees
He added that under the newly launched ‘Fridays Your Way’ initiative, the company shall dissuade calls and meetings on Friday afternoons in the summer so that so employees can dedicate time to focus on what they need.
He further said that taking a note of their employees’ request, the organization is also planning to 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 so that they can get the opportunities to come back together and recognize each other’s contributions and achievements in person.
He added in the statement that as they go onto safely open offices, they intend to double the funding for their “Real-Time Recognition” (spot bonuses) pool so that colleagues can say thank you with financial rewards to one another for caring for each other and living our values.
Also, the company has invested substantially so that employees can equip themselves with the digital skills training in order to keep pace with the rapidly changing business environment and also are continuing to evolve, deepen, and personalize our people’s learning experiences. Next step, according to the organization, would be to offer a Diversity and Inclusion badge to inspire employees to learn and foster a culture of belonging.
Since the employees have work really hard and from home since the pandemic outbreak, these efforts are a part employee retention program by the Big Four firm.
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