Company pays employees $2,000 to go on vacation
CULVER CITY, CA (KTRK) -- The CEO of a California-based advertising agency is offering his employees $2,000 a year to take vacations. Employees can use the money to go anywhere in the world and do anything they want. They also have the option to spread it out across multiple trips or use it all at once.
Mark Douglas, the CEO of SteelHouse, told Business Insider he wants to eliminate the guilt associated with taking time off.
"It's one thing to say 'You have three weeks vacation,' like most companies do," said Douglas. "It's another thing to say '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."
Douglas said the process is really simple for employees.
Employees who buy their plane tickets on a Monday will get reimbursed by Tuesday. If the employee can't front the cash, SteelHouse will let them use the company credit card to book the flight. Once people return from their trips, they can submit their expenses for reimbursement up to the $2,000 cap.
Some employees have said they don't need the time off and have asked for a $2,000 bonus, but Douglas said that's a no-go.
"I actually want you to go somewhere and enjoy yourself," said Douglas.
Douglas calls the policy a success. He said in the last three years, only five people out of 250 have left the company.
"We have virtually zero turnover," said Douglas.
If this policy sounds like something you might enjoy, here's the careers page at SteelHouse for you to check out.
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