After working for a continuous period of time, everyone craves for a vacation– the longer the better though. But, companies don’t allow that long leaves, does it? How about we tell you that there is an organisation that is generous to its employees? Yes. you read it right.
Goldman Sachs Group Inc. will allow its senior staff to take an unlimited number of vacation days. The latest initiative taken by this Wall Street bank is to retain talent in a heated job market.
According to the company’s memo seen by Bloomberg, partners and managing directors at the New York investment bank can take time off whenever needed “without a fixed vacation day entitlement.”
However, under the new company policy introduced at the start of the month, junior employees still have a limited number of vacation. But, they will be given at least two extra days off each year.
Reportedly, all the employees at Goldman will be required to take three weeks off each year starting in 2023. The memo also includes at least one week of consecutive time off.
As per the sources, a year ago a junior analysts at the bank complained of 100-hour work weeks and declining physical and mental health in “inhumane” conditions. The new policy is an initiative taken by the company towards its employees betterment. This move has reverberated across Wall Street, challenging other firms to do more to improve the work-life balance of their staffs.