BlackRock Inc., taking a page from Silicon Valley where ping-pong tables and on-site gyms are common perks, is offering unlimited time off.
The world’s largest asset manager began rolling out the perk earlier this month, confirmed Brian Beades, a BlackRock spokesman. The New York-based firm previously allotted vacation days based on seniority and job title.
BlackRock, with Wall Street roots, is providing a benefit that’s considered appealing to younger workers used to more casual and flexible environments. It also comes as Chief Executive Officer Larry Fink seeks to transform the company into more of a technology-focused firm. One of its most important products is Aladdin, a risk-management system offered to investment professionals.
“We are obviously a technology company as well as an asset management company,” Jeff Smith, BlackRock’s head of human resources, said in an interview Wednesday. “When we are competing in places like Silicon Valley, that is very important. It sends a signal.”
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