It’s been well over a month now since EY announced it was moving away from its accrual-based vacation policy and going unlimited PTO, to the dismay of nearly all of the firm’s “entitled” employees. And EYers are still making their displeasure with the move known via memes and posts on the usual chatter sites and in the comments section here.
So EY must have felt it needed to do something, anything, to try to placate the upset masses who don the black and yellow every day. And here’s what EY came up with, according to a source:
EY just doubled the annual fitness fund for each employee from $500 to $1,000 starting 2021. I would still much rather have vacation accrual, but they said they would “reinvest in us” so I guess this is them doing that. Not to say this is near equitable, but it’s better than nothing (barely).
So what the fitness fund cover?
Up to 75% of gym memberships, health equipment, even deep tissue massages. There’s a lot you can use it for. So it’s 75% of the cost up to $1,000 during the year. For example if my gym membership is $100 then I’ll get reimbursed $75 from my fitness fund.
From some of the comments I’ve seen online about the doubling of the fitness fund, EYers don’t seem to hate it. Like our source said, “it’s better than nothing” seems to be the overall consensus.
Related article:
EY Changes Its Vacation Policy, Oh and BTW They’re Not Paying Out Accrued PTO If You “Leave”
EY has been talking about changing the accrued vacation to PTO for at least 10 years.
They also gave EY’s an extra paid vacation day this Thanksgiving.
Whoppee. I’d rather work that day, and have my vacation accrual back.
Both of the above statements are correct.
Most companies have been trying for years to move away from the liability of vacation payouts.
EY not only gave an extra paid holiday for Thanksgiving, they also added 5 paid holidays next year.
Employees are lucky they have maintained a job through this pandemic and economic downturn, AND received full pay!
????
They didn’t “add 5 paid holidays”. They simply reclassified the days we had to use PTO for over the summer and winter breaks. Basically they just repackaged the days we ALREADY HAD OFF to take off their liability then tried to gaslight us into thinking we were getting more time off.