Most employers offer vacation time only because they have to, and many employees are made to somehow feel guilty for taking the time off. They say, ‘you have three weeks of vacation time,’ and to Mark Douglas, the CEO of SteelHouse, that doesn’t seem real. He likes the idea of giving his employees money that they have to use on a vacation.
You have cash, and if you don’t go on vacation and spend this money, the money literally goes to waste.’ It’s another level of saying this is real.”
He has made the process very simple. He doesn’t want employees to take the money and not go on vacation, so he reimburses up to $2,000 of expenses after they return from their trip! They can buy plane tickets and get reimbursed, and if an employee doesn’t have that much cash on hand, they can borrow the company’s credit card to book the flight.
Some employees still insist that they don’t need time off, but Douglas knows better. They can use the vacation time and funds all at once or they can spread it out over several days off, but they have to take it.
“I actually want you to go somewhere and enjoy yourself,” said Douglas.
In the past three years, only five employees have left the company of 250 employees, and those are numbers that cannot be argued with. With so many businesses trying to cut costs and squeeze as much time and energy out of employees as possible, the tactics and results of SteelHouse are a breath of fresh air. When a company values its employees, the employees value the company.
Should more businesses be doing this for its employees, or do you think it is a waste of money?
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