Tuesday, March 25, 2008

One Heck of a Holiday

Would you take a 20% discount on your salary if you knew it would lead to a one-year paid vacation after five years on the job? That’s the deal St. George Bank in Australia offered its 9,000 workers, according to a story from News.com.au.

Only a half-dozen employees took that offer. Another more popular program provides 10 weeks of vacation in exchange for a pay discount. About 500 employees have signed up for that.

Maybe the employees don’t expect they’ll still be there in five years. Maybe the employees don’t expect the bank to will still be there in five years -- can’t you just see an acquisition leading to an HR professional saying, “You think we owe you how much leave?” Or maybe, none of the employees know what they’d do with a whole year off.

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