Lifestyle benefits allowing for more flexibility in the workforce increase effectiveness and productivity of advisory firm employees. They help employees create balance in their lives that lead to more happy employees.
Not surprisingly, during the pandemic we're seeing many firms that didn't have lifestyle benefits available to employee's pre-pandemic rushing to implement them now. These "perks" can include flexible time, paid time off for volunteering and lunches delivered to employee's homes.
Here's a list of the top three policies we're seeing in our consulting work that are being implemented in firms that didn't have them before the pandemic.
1. Sabbatical Time Off
This means is a substantial amount of paid time off that's given to staff every few years. Typically, firms will offer employees around five weeks sabbatical after five years of employment.
This perk is important for those who work in professional services organizations, where days are often spent serving other people and in which employee burnout is a constant risk.
Encouraging employees to take the time — and to truly get away from their jobs from time to time — improves relationships, increases judgment and productivity and restores a sense of perspective to their lives.
These benefits also apply to firm owners who also need to set an example by taking periodic sabbaticals to recharge, or to just take an extended break to gain perspective.
2. Paid Time Off for Volunteer Work
The pandemic has lifted people's desire to give back to their communities, and many firms are offering paid time off — no questions asked — for charitable work. It certainly sends the right message in the current world's current state.
Employees who want to give back to their communities (however they define giving back) tell you something about them.
