Yes! You read the headline right – there’s a real company offering all its employees with $2,000 a year just to take a vacation! The only catch is that they have to spend the money to have fun on their vacation or else they’ll forfeit the bonus.
SteelHouse is a marketing company whose CEO, Mark Douglas, had the brilliant idea of giving their employees the hefty bonus so they can refresh themselves and have fun on vacation, returning with fresh ideas and renewed energy for work.
But while the employees first wanted to keep the money for other things, Douglas insisted that they only use it for leisure time because the point of giving out the bonus was for them to have fun!
“It’s one thing to say to your employees ‘You have three weeks of vacation time’, as they do in most companies. And it’s another when you announce that ‘You have been given some money, and if you don’t use it for your vacation, then it will simply be wasted’. That’s a more effective way to convince your employees how important it is to take a break,” Douglas revealed.
Employees get to choose whether they will spend the money in one go or spread out the cash in small vacations – and they get to choose wherever they want to go and do whatever they want, provided that it is not illegal.
So far, the incentive has worked well for the company and its employees. Productivity is at its highest and no one wants to leave the company – in past 3 years, only 3 of SteelHouse’s 250 employees have left, and all for reasons that are not related to work!
Douglas hopes that other companies will follow suit. Wouldn’t it be wonderful if all companies would not just give their employees vacation days but money to enjoy their trips as well?