BusinessCompany NewsFDs unimpressed by Pru’s ‘stunt’

FDs unimpressed by Pru's 'stunt'

Would you give your employees an extra day off each year to put their personal finances in order?

The man from the Pru may have just given his employees an extra day off to put their personal finances in order, but the idea seems unlikely to take off among many companies as financial directors see little point in the exercise.

The results of this week’s Accountancy Age/Reed Accountancy Personnel Big Question show that over three-quarters of FDs responding to the survey are unlikely to follow Prudential’s lead, with nearly half dead-set against such a scheme.

While the insurance giant may think such an idea will lead to a more stable and contented workforce, most others see it mainly as a stunt by the firm that is no more than a waste of time and money. Even among the 13% of those in favour of such a scheme there was still concern that employees wouldn’t use the day for the purpose it was intended.

One of the 79% against the idea said: ‘There is no guarantee they would use the time as it is intended. In essence it is an additional day’s holiday.’ Another pointed out that most personal finance matters were ongoing and couldn’t be sorted out in just one day.

Bob Randall, FD at Wicks & Wilson, expressed the feelings of many – that this issue should have nothing to do with the employer. ‘I would expect this time to come out of their annual leave,’ he said. ‘Why differentiate between personal finances and any other need for a day off?’

Related Articles

BDO replaces Deloitte as Mitie auditor

Audit BDO replaces Deloitte as Mitie auditor

3m Emma Smith, Managing Editor
CVR Global appoints partner in London office

Company News CVR Global appoints partner in London office

7m Alia Shoaib, Reporter
FTSE100 failing to provide adequate ethics information

Company News FTSE100 failing to provide adequate ethics information

7m Alia Shoaib, Reporter
Moore Stephens recruits new private client partner

Accounting Firms Moore Stephens recruits new private client partner

10m Emma Smith, Managing Editor
Magma Group announces merger, partner promotions

Accounting Firms Magma Group announces merger, partner promotions

10m Emma Smith, Managing Editor
BDO on ‘recruitment spree’ with multiple partner appointments

Accounting Firms BDO on ‘recruitment spree’ with multiple partner appointments

10m Emma Smith, Managing Editor
Brand strength leads to fee income growth for RSM

Accounting Firms Brand strength leads to fee income growth for RSM

10m Emma Smith, Managing Editor
Mazars strengthens audit team with partner appointment

Accounting Firms Mazars strengthens audit team with partner appointment

10m Emma Smith, Managing Editor