Sabbaticals are often seen as a benefit reserved for the world of academia, but businesses are slowly catching on to this trend.
Employee wellbeing has emerged as a vital component to successful businesses — and those who neglect it are poised for major losses. That’s why companies like Charles Schwab have incentivized employee retention by offering 28-day sabbaticals starting at the five-year point.
According to a study from The Sabbatical Project, 75% of workers who were offered a sabbatical returned to the company afterwards.
“The health and well-being of our teams and their families come first,” said Pete Greenley, director of corporate external relations at Charles Schwab. “In order to help employees navigate life’s everyday challenges, Schwab focuses on providing benefits that matter most to them.”
Not only have these long-term breaks been proven to improve employee loyalty, but they are also tied to better productivity, creativity and skill-building.
This is because a sabbatical gives what a typical week-long vacation can’t: time to truly recharge and reset.
For instance, a worker on sabbatical might decide to use this time to travel and explore, revitalizing and allowing them to apply their new experiences towards creative decisions.
On the other hand, an employee may choose to use these weeks away from the office to focus on their home life, giving them the opportunity to nurture their personal responsibilities so as to not take away from their work once they return.