City stockbroker offers unlimited holiday to employees to prevent burnout
Workers at a City stockbroker will be given unlimited holiday from next year in a bid to prevent staff from burning out.
Fincapp has unveiled plans to make its 155 employees to take at least four weeks leave each year, including a few days each quarter.
The firm has been “exceptionally busy” amid heightened demand from clients due to volatile markets, chief executive Sam Smith said.
She added: “Burnout is not resolved by a quick two-week holiday . . . It is resolved by properly changing the way you work.”
Ms Smith told the BBC that she had noticed the strain her employees were coming under in February this year, during the third national lockdown.
“People were fed up and had no resilience left because of having been in the pandemic for a long time,” she added.
With lockdown leaving her employees with little downtime and no opportunity to go into the office, she said the “lines between work and life became blurred”.
“There were no boundaries, no respite, it was just constant,” she added.
By the summer, employees were beginning to feel the strain and began booking time off to recover – prompting the firm to change its working practices.
Under the new rules, first reported by Bloomberg, staff will have to take minimum leave. This does not include time off to care for sick parents, children or pets.
Unlimited holiday is common at tech companies but less so in the finance industry, which is known for a culture of long hours.
Earlier this year, Nike and the dating app Bumble gave their employees a paid week off to help ease stress caused by lockdown and working from home.
Finncapp offers advice to clients about fundraisings, public and private mergers and acquisitions and raising debt. To alleviate pressure on staff, the company has also hired 30 new employees this year.
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