Apple is reportedly improving its employee benefits in an attempt to both attract and retain workers in a market that continues to get more competitive.
A new Bloomberg report notes that the Cupertino company is now offering 12 paid sick days — a doubling of the previous 6 days that were previously available to full- and part-time retail employees. Apple is also allowing those days to be used for mental health leave as well as caring for sick family members.
Alongside sick days, Apple is now giving part-time workers paid vacation time, offering up to six days per year. Vacation time will also now be available to employees after three years on the job — an improvement over the previous five-year requirement.
Now on @theterminal: Apple is significantly upping benefits for part time and full time U.S. retail employees amid a tightening labor market and Covid. That includes more paid sick time, vacation time and parental leave for part timers, and more beginning April 4th.
— Mark Gurman (@markgurman) February 8, 2022
Companies in nearly every industry are having to reassess their benefits packages to remain competitive in this tight labor market. They’re offering higher compensation levels, flexible work schedules, increased 401(k) matches and perks of all kinds, such as mental health support, pet insurance, and tuition reimbursement, among other benefits.
These enhanced benefits are a result of the Great Resignation, as Canada, the United States, and other countries around the world experience historic turnover in the workforce. More than 47 million American workers quit last year, according to the US Bureau of Labor Statistics. In November alone, a record 4.5 million Americans left their jobs, up from 4.2 million in October. Workers have been leaving their positions for greener pastures, demanding more money, better working conditions and increased mobility.
Last month, fellow tech giant Google announced an increase of its employee benefits for full-time employees throughout the world in 2022. The Mountain View-based company expanded parental leave from 12 weeks to 18 weeks for all parents, and from 18 weeks to 24 weeks for parents who give birth.