Richard Branson grants Virgin employees unlimited vacation time
A new "non-policy" policy
Richard Branson has announced this week that all of his employees will be given the option to take unlimited vacation. The very thought of this would make many CEOs and business owners across the world break out into a cold sweat, but it is very smart... And here is why: Give you employees the power, and they will give you everything. That is the beat of Branson's drum and let's face it, it is working.
In a new incentive, Branson was recently inspired by Netflix's company policy of not tracking its employees vacation time. "I have a friend whose company has done the same thing and they've apparently experienced a marked upward spike in everything – morale, creativity and productivity have all gone through the roof," he said.
The new "non-policy" policy given to Virgin employees arms them the power to make a decision of only taking vacation time when it will not impact the business in a negative manner, and not adding up the total amount taken. Perhaps the most surprising thing about the news is that it is surprising at all – some of us are incredibly lucky to live in a "free world", we are all adults, shouldn't this be the norm?
In other Branson business related news, the mogul recently claimed that he gave Steve Jobs the idea for iTunes. "On April Fool's Day 1986 I gave an interview to a big-name music publication and told them that Virgin had been secretly developing a 'Music Box', on which we had stored every music track we could lay our hands on, and from which music lovers would, for a small fee, be able to download any individual song or album they wanted," he told The Independent, "Many years later Steve Jobs told me he had been utterly taken in by the idea. While we will never know for sure, I have always wondered if the April Fool's prank triggered the birth of iTunes and the iPod - which ironically contributed to the death of our Virgin Megastores and changed the entire music industry."