A Bank with a Brain
Permanent TSB has apparently offered employees up to €20,000 to take a two-year career break, or up to €35,000 for three years out (Irish Times Weekend, 15 November, p.3) . Now I don't know what the "up to" means, but the idea surely shows that labour market flexibility doesn't have to be all about short-term contracts and lack of employment security.
The bank, it says, is taking a longer term approach. Rather than have a rash of redundancies now and losing valuable staff for a short term gain, this scheme cuts jobs temporarily. If it was me, I'd read the small print carefully, but it looks like a real opportunity for staff to go and do something different.
It's not the kind of sum that would get you through the time off, but it would certainly go a long way to offset a mortgage for someone who wanted to try a new career or set up a business. For younger employees who didn't do the travel thing, it's a great opportunity. For two working parents, it might be the chance to mind the kids at home for two years.
At the end of the period, it will surely bring benefits for employers and staff. Some won't come back because they've found something they like better, and some will come back with new skills and experience. It won't work out for others, and more won't be in a position to avail of it, but it shows a bit of thought and imagination. It will be interesting to see how the scheme works out in two years time -- and whether the idea catches on.