Everything Sir Richard Branson touches turns to gold. It all started with his more than the successful launch of Virgin Records (pioneered by the signing of the Sex Pistols in the 1970s). He expanded his market to the aviation industry, introducing Virgin Airways, in the 1980s. His latest venture has been expanding the airline’s market to the US with Virgin America (a project that other American carriers had fought for four years). What’s Branson’s latest investment?
He’s investing in his employees with an experimental “non-policy” for vacation time in all of the company’s head offices. That’s a right, unlimited vacation. If it goes well, Branson plans to expand the non-policy to all the company’s offices. According to Branson, he observed a friend’s company experienced a tremendous increase in productivity and morale due to the unlimited vacation policy.
Branson hopes that the employees will take time off when they need to and at times when it won’t disturb the company’s plan, therefore incentivizing said productivity. “Treat people like human beings and give people that flexibility,” Branson said in an interview with CNN, “the amount of holidays in the states is terrible.”
Source: CNN; ABC News