Investec Unlimited Leave

Photo: Paolo Ferla / Flickr

Why Investec are offering “unlimited leave days” to their staff

The temptation of unlimited leave is something we’ve all dreamed about. But this fantasy will become a reality for Investec workers from September.

Investec Unlimited Leave

Photo: Paolo Ferla / Flickr

If an offer seems too good to be true, then it usually is. However, staff working for investment company Investec have been given the leave calendar that dreams are made of – employees are being encouraged to take “as much leave as they want”, thanks to a bold new HR strategy.

Lesley-Anne Gatter is Head of Human Resources at Investec SA, and she told Radio 702 about the company’s plans to ensure their representatives can strike a better work-life balance. The new rules also allow workers to wear whatever they want (within reason) if they don’t have to meet certain clients on a given day.

Why do Investec workers get “unlimited” leave days?

Well, trust is the main factor here. Investec are hoping that their leap of faith willl be rewarded in turn with responisbility and gratitude. Gatter said that it is often the hardest workers and best performers that take the least amount of time off, and fatigue is something her department are keen to combat.

“We want to actualise the trust we talk about, to uphold our values. When we make our environment better, we’ll get even more out of our high performers. Look, some people do like rules and they can stay with the same system – but we understand most people will migrate to the new structure.”

Lesley-Anne Gatter

Investec: How does unlimited leave work?

Investec says they “prioritising well-being”, and they’ve promised to monitor employee-performance after the new rules are introduced in September. In fact, these new perks will only be available to those who are meeting their targets – so it’s not exactly a free-for-all, but more a case of acknowledging those who are achieving their goals on a regular basis.

  • The number of leave days taken by an employee won’t affect their salary.
  • In this new “leave cycle”, employees must choose 10 days at a time.
  • People will be paid “according to output”, rather than the hours they clock-up.
  • Investec has also promised bonuses to those who show a degree of innovative thinking.

Ironing out the kinks

They are also trusting their employees to communicate openly with each other when it comes to planning their leave. The company are still keen to avoid “work-free Fridays” becoming a thing, and there will be some degree of assessment when it comes to approving each leave application.

The new policy has the feel of a Silicone Valley start-up, where tech-driven boffins enter the work doors on skateboards and every wall is made of glass. But Investec are as traditional an institution one could wish to work for.

Business, however, is always evolving – and the insurance giants look set to take a massive leap into the future, here. When they are done with this, may we also suggest a four-day working week? For all of us?