Grant Thornton gives employees extra time off this summer
Grant Thornton US has this summer granted its employees three extra paid days off, as well as Friday half-days.
The accounting and consulting firm’s new summer time-off policy will make the three summer holidays of Memorial Day, Independence Day, and Labor Day into four-day weekends. Additionally, Fridays in June, July, and August will have a closing time of 1 pm.
The firm says the added time off its part of its overall employee wellbeing strategy.
“This summer, we want to give our colleagues more time for what matters most to them and the people they care for,” said Mike Monahan, Grant Thornton’s national managing principal of people & community. “For some of our people, that might mean more time with family or loved ones. For others, it might mean time to travel, pursue a passion outside of work, or simply relax. In the end, our peoples’ health — both physical and mental — is integral to serving our clients with the quality and excellence they’ve come to expect from the Grant Thornton community of professionals.”
Grant Thornton during the pandemic – like many other consultancies – expanded and strengthened its healthcare and lifestyle benefits. The roster of benefits includes flexible time off and work arrangements; expanded family-care benefits, including enhanced parental leave and childcare access; lifestyle accounts with reimbursements for wellbeing expenses such as fitness equipment; and subsidized meal delivery services.
Other consulting firms, such as KPMG and PwC, have also announced additional paid time off for employees this summer. Both also pointed to employee wellbeing as a driving factor.
The obvious calculation, however, is a pressing need to retain and attract talent in a tight skilled labor market. Once one major accounting and consulting firm makes the first move on extra days off, neighbors have to “keep up with the Joneses.” Even if accountancies could collude to clamp down on extra perks, their consulting divisions would have to keep abreast of salary and benefits in pure-play strategy consulting or technology firms to prevent high rates of attrition.
