Americans are Famous hard workersThe idea of walking away from a thriving career seems outrageous to most hardworking companies. But the pandemic has radically changed the way people think about their work lives, and some high-achievers are realizing that making a decision vacation That might actually be a good idea.
Jeremy Liu is one of them. As a partner at Lightspeed Venture Partners, he postponed his extensive business travel schedule when he realized how much time the business was taking away from his family. Sarah Clemens writes in a new feature for luck. So he decided to temporarily step down from his job and set off on a year-long trip with his wife and children to different countries around the world. Despite fears that his team would struggle without him, Liu found that his absence allowed others to step up and take on more responsibilities.
“It created all of this upward momentum in their careers,” he said. luck.
While sabbaticals are common in academia, they are still uncommon in the private sector, and are often not financially supported by the company. Only 5% of companies offered workers extended paid leave in 2019, a number that rose to just 7% in 2023, according to a new report. a report From the Society for Human Resource Management (SHRM). But more large companies are embracing the idea of giving their employees extended paid leave.
For example, fast food giant McDonald’s offers Eight weeks paid leave For employees who have worked at the company for 10 years or more. Bank of America program Employees who have been with the company for 15 years or more are allowed to take sabbatical leave throughout their career for a period of between four and six weeks. Consulting firm Deloitte offers two Full-time programmes: One month of unpaid leave that can be taken for any reason; Three to six months of leave can be taken to pursue personal or professional growth opportunities. Employees who choose the latter option receive 40% of their base pay.
Some leaders worry about judgment, especially from other hard-working colleagues and peers who may view taking time off as lazy or unprofessional. That was the case for Anya Smith, who left her job leading host services at Airbnb in 2018 and moved with her husband and three children to Buenos Aires to relax, learn Spanish, and introduce her family to a new culture. More than one mentor told her at the time that taking an “adult gap year,” as Smith calls it, could hurt her career. She is now the CEO of the gig platform TaskRabbitand six years later, she credits her break as being just that Crucial to its success.
“My gap year played a pivotal role in my career,” says Smith. luck. “It gave me the space to think about what I really wanted and create a clear plan to achieve it, which ultimately led me to my current role.”
You can read more about why leaders take advantage of their time off here.
Brett Morse
brett.morse@fortune.com
Today’s edition has been curated by Emma Burley.
Around the table
A summary of the most important human resources titles.
German company Thyssenkrupp Steel has decided to lay off about 11,000 employees, which will reduce its workforce by about 40%, as it struggles to maintain its competitiveness in the face of cheaper exports from Asia. Wall Street Journal
Macy’s delayed its earnings report after it said an employee — who no longer works for the company — “intentionally” concealed $132 million to $154 million in delivery expenses. Bloomberg
Thousands of Amazon employees are expected to go on strike from Black Friday through Cyber Monday, to pressure the retailer to improve workers’ rights and climate initiatives. The Guardian
Water cooler
Everything you want to know from luck.
It was WFH. The number of remote job vacancies in the UK has fallen by 13% Between February 2023 and 2024, employers who are still offering flexible working will have a large number of talented applicants vying for the position. —Ryan Hogue
Vacation stop. Airport workers in North Carolina have gone on strike During Thanksgiving week to protest low wages and other injustices. —Eric Verduzco, AP
Capture technology. More than half of Generation Z believe this It is possible that artificial intelligence will take over their jobs within the next decadeBut only 6% of vice presidents and high-level executives think the same, according to one report. —Chloe Berger
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