In January, KPMG, looking for a way to save payroll costs without losing valuable employees, introduced an initiative called Flexible Futures (http://www.kpmgcareers.co.uk). This new program offered the 11,000 professionals in KPMG’s British operations the following options: Women and men could go to a four-day workweek and take a 20% pay cut; they could opt for a mini-sabbatical at 30% of base pay; they could opt for both of the above; or they could remain with their current arrangement.
The program was hugely successful, over 80% of the professional employees volunteered to take of the flexible options. This allowed the company to achieving its goal of retaining crucial (and younger) talent while cutting costs.
The global consulting company Booz & Company ( http://www.booz.com) recently started a “partial pay” sabbatical. As of April, Booz employees can take a one-month to a yearlong sabbatical at 20 percent of base plus medical benefits and return to a guaranteed job.
Because these firms positioned shorter workweeks and mini-sabbaticals as a strategic response to the downturn rather than a benefit, it has gone some distance to legitimizing flex time.
My sense is that a rich (and creative) menu of variable work arrangements is central to the progress of emerging talent and most importantly career women.
Pierre Robitaille