Time-off and Benefits Enhancements
Challenge
Today’s world is rapidly changing. Creating flexible, agile workplace policies has become critical to ensuring long-term success.
Actions
In 2019, Waddell and Reed enhanced our workplace culture by enriching time-off programs and establishing a baseline of benefits to meet the needs of our diverse workforce:
Work Schedules: Expanded summer flexible work policy to allow employees to adjust their schedule and leave up to two hours early on Friday year-round.
Flexible Vacation: Eliminated vacation accruals and caps for exempt employees. Combined vacation and personal time into vacation time bank and provided additional vacation time for non-exempt employees with 11 to 20 years of service.
Paid Parental/Family Caregiver Leave: Four weeks of paid leave for both new parents as well as other family caregiver FMLA-qualifying events.
Short Term Disability: Enhanced to provide 100% pay for 50 days weeks for qualifying events. This included eliminating waiting period or differentiation based on years of service.
Paid Military Leave: Increased the pay augmentation period for those on Paid Military Leave to 60 business days to reflect our commitment to service members.
Outcomes
These new policies and program enhancements went into effect in January 2019 and have been well-received. They align with our core values and meet the evolving needs of our employees.
Contact
Jeff Rigler
Quote
At Waddell & Reed, we strongly believe in having a values-based culture and a purpose-driven Company. Having an organization of diverse thoughts, perspectives, backgrounds and experiences is absolutely essential for us moving forward. We know that embracing our differences and creating a culture where everyone feels their uniqueness is valued and respected will only make us stronger. I am proud to make this pledge and partner with other firms to continually make advancements in the future.