Goldman Sachs has announced new "flexible vacation" plans to promote rest and recharge which will offer senior staff unlimited paid leave. However, under the new plans, junior staff will only be entitled to a fixed amount of leave. Treating junior staff differently doesn’t seem to sit well with the bank’s approach of being “committed to providing our people with differentiated benefits and offerings to support wellbeing and resilience”, especially as the bank was accused last year of overworking junior staff when an internal survey shoed they averaged 95 hours of work each week and slept only five hours every night.
Three weeks of annual leave will be required of all workers, with consecutive days off for at least one of those weeks.
Although few employers currently offer unlimited leave, LinkedIn, Bumble and Netflix now offer the perk, so it is becoming more popular. Obviously it will need careful management to ensure it is not abused.
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