At some Italian companies, agreements reached with trade unions include arrangements that ‘exchange’ time for money. For example, workers have been given the opportunity to convert part of their productivity bonus into additional days of annual leave. In other cases, the productivity bonus is increased when workers have used up all their days of leave, since backlogs of unused holiday can weigh on companies’ balance sheets. It is a trend that is on the rise.
Rules that allow results-based rewards to be converted into “company welfare” are both “very popular and appreciated”, according to Roberto Benaglia, who coordinates the OCSEL, the observatory of trade union central Cisl which focuses on the study of company agreements. He says: “The most innovative trend consists of doing more than simply offering services or reimbursing social benefits – the idea is emerging that welfare also means having time available and a balance between work and...
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