Bitpanda
Viennese company offers its employees as much vacation time as they want
Flexible working hours are often an important reason for applicants to choose a company
© alvarez / Getty Images
Unlimited vacation, extended parental leave, working from all over the world – this is how a Viennese start-up wants to attract good employees to the company.
Working conditions and working hours are an important factor for many employees when it comes to deciding on an offer. The Viennese startup Bitpanda – an online investment platform – has come up with a special way of attracting talented employees: Employees can take as much vacation time as they want. And with full payment.
As of this month, the offer applies to the company’s 1,000 employees who work in more than ten locations across Europe. “With our new approach, we ensure that everyone gets the opportunity to take some time off after busy periods,” Bitpanda founder Eric Demuth is quoted as saying in a press release.
Maternity leave is extended
However, the unlimited holiday entitlement is not the only argument with which the company, founded in 2014, wants to convince employees. There are also two “recharge breaks” of four to five days a year, during which almost the entire company goes on a kind of vacation. Only a few employees hold the fort during this time and make up for the days off later. Bitpanda announced that the concept had already been successfully tested last year.
Parental leave is also being extended: mothers and fathers can take 20 weeks off with full pay. “This also includes birth, surrogate and adoptive parents of any gender or age, regardless of their sexual orientation or family type,” Bitpanda points out. In addition, employees are free to choose their place of work up to 60 days a year. The only condition: the working hours must overlap with your team by at least 80 percent.
Netflix has long offered unlimited vacations
Investing in your own employees is an important contribution to growth, the fintech said. Bitpanda’s approach is still unusual in German-speaking countries, but follows a trend that has been spreading for some time, especially in Silicon Valley. There companies position themselves in the battle for the best applicants with flexible working hours and (at least superficially) comfortable working conditions.
Streaming provider Netflix has not only offered its employees unlimited vacation time for many years, but also insists that enough is taken. According to CEO Reed Hastings, he takes at least six weeks of vacation a year himself. He also encourages other managers to share their holiday experiences with employees.
Source: Bitpanda press release