Chip Cutter

speaker

1,085 appearances 18 recordings 1 series first heard Aug 2019 last heard Sep 2024

Chip Cutter’s voice in public audio — every appearance, attributed to the second.

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WSJ Your Money Briefing · Employees Are Being Offered Cash Incentives to Take Time Off · 9 Apr 2021 podcast

They feel that they need bolder experiments to get people to disconnect now. voice-verified

So the accounting and consulting giant, PWC, voice-verified

is going farther than most, and it will begin paying employees to actually use their vacation time. voice-verified

And the way it will work is that employees will receive $250 for every full week of vacation that they take, up to $1,000 a year. voice-verified

And the thinking is that employees will feel they're leaving money on the table if they don't use their vacation time. voice-verified

The company's U.S. voice-verified

chairman, Tim Ryan, told me that economic incentives work and that the company feels like it at least wants to try this, feeling like they've done other things. voice-verified

They've encouraged employees to take vacation. voice-verified

Leaders have talked about their own vacation. voice-verified

They've tried many different approaches. voice-verified

And PwC's leaders feel that this might be the time to try something else. voice-verified

Well, companies really worry that if workers are basically rolling out of bed, sitting for hours in front of their laptops, and doing that day after day with little break, that they're fatigued, that they may be kind of physically present but not mentally there. voice-verified

And so that's why many bosses are encouraging workers to take a break. voice-verified

And we're seeing all different sorts of experiments really aimed at trying to get people to use their vacation time now. voice-verified

It's a big one. voice-verified

And data has shown that vacation balances have grown. voice-verified

So the human resources software company Zenefits last year analyzed vacation requests from roughly 3,000 companies. voice-verified

And what it found was that workers submitted about half the number of requests to take time off in April and May of 2020 compared to the same period in 2019. voice-verified

This backs up data at other companies, and it reflects the sentiment that many HR directors and executives have found over the past couple of months, that vacation balances have only kind of steadily grown in the pandemic. voice-verified

People have not taken time off, and that's why many companies feel like they want to get a handle on this and address this now. voice-verified

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