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?’
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