Richard Branson is Right Time is the New Money

8/11/2019 Richard Branson is Right Time is the New Money

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Richard Branson Is Right: Time Is the New Money

In the Participation Age, a New Form of Payment Is Emerging: Time.

Richard Branson jst annonced he wo!d "e gi#ing $irgin emp!oyees n!imited

#acation. %e&s either nts or 'nows something others ha#e yet to disco#er: (o&!! ma'e

more money if yo gi#e peop!e their time "ac'.

Why We Trade Time for Money

The Indstria! Age taght s the on!y way to ma'e money was to trade time for it.

The dea! was c!ear, and a!ways the same: (o gi#e me eight to )* hors of yor day,

and I&!! gi#e yo some money. Bt in the Participation Age, something new is emerging.

+ompanies are rea!iing that when yo gi#e peop!e "ac' their time, they wi!!

ma'e yo more money. It seems conter-!ogica!, "t it&s rea!!y ite intiti#e. As sa!,

Branson is mo#ing on an idea that traditiona!ists wi!! on!y disco#er "y watching him and

the other ear!y adapters in action.

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Why Would Unlimited Vacation Work?

/hy gi#e p on a #acation system that&s "een in p!ace for )0*-p!s years1

Becase it was a "ad idea then, and with a wor' force that did not grow p in the

shadow of the Indstria! Age, it&s an e#en worse idea today. A!most no one nder 2* can

re!ate to a time-"ased system that ma'es no sense in a res!ts-"ased wor' wor!d.

Branson didn&t 3gre this ot4 he&s acta!!y a !ate adapter, which ma'es a !ot of

the wor' wor!d archaic and comp!ete!y ot of toch with how to ma'e money today.

Fewer than )5 of 6.7. companies gi#e n!imited #acation. In fact, America gi#es the

second-!owest amont in the wor!d, "ehind on!y 7oth 8orea.

The data is in: /hen yo gi#e peop!e contro! of their time, they ma'e yo more

money. /. 9. ore Inc., the pioneer in rejecting the Indstria! Age, is a ;< "i!!ion

company with )*,*** sta'eho!ders. Theye had n!imited #acation since the )=>*s and

contine to grow e?ponentia!!y.

7emco, another great e?amp!e of a Participation Age company, started ma'ing

pmps in )=@). It was ta'en o#er "y Ricardo 7em!er in )=) and transformed into a

great wor'p!ace, inc!ding n!imited #acation as jst one of many princip!es that

"roght hmanity "ac' to the wor'p!ace. In )=), it was a ;2 mi!!ion company. Today it&s

a ;) "i!!ion company and growing, and is in a myriad of indstries that 7em!er co!d

ha#e ne#er imagined. 7ta'eho!der trno#er is !ess than )5 per year.

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7ome techno!ogy companies ha#e "een operating this way for years as we!!, and

a growing nm"er of traditiona! as we!! as new indstries are adopting n!imited

#acation. E#ernote and NetF!i? are jst two e?amp!es. They are a!! !earning that

anything that gi#es peop!e "ac' contro! of their !i#es is pro#ing to "e "etter for the

company. st the opposite of what or Indstria! Age forefathers "e!ie#ed.

ay Raises That !ncourage More Vacation

7ta'eho!ders "ecome deep!y in#ested in yor company as yo "ring hmanity

"ac' to the wor'p!ace. The downside1 They can start acting !i'e o!d-sty!e "siness

owners and ha#e to "e hea#i!y encoraged to ta'e time oC. To com"at this and pt

teeth into or n!imited #acation position, or company, +ran'set rop, gi#es a!! of or

sta'eho!ders ;),@** a year in #acation money DE#ernote gi#es ;),*** in #acation

money and F!!+ontact gi#es ;0,@**. Bt yo on!y get it when yo trn in receipts that

pro#e yo&re sing it for #acation.

There are Indstria! Age detractors. Artic!es !i'es those recent!y in Time magaine

#iew this cynica!!y. Bt they are !i'e !istening to someone who drew the short straw in a

high schoo! de"ate and had to arge the positi#e eCects of indentred ser#itde. The

argments against n!imited #acation are tortred at "est.

The rea!ity is simp!e. i#e peop!e contro! o#er their time, and they wi!! "i!d a

great company, not for yo, "t with yo.

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In the Participation Age, time is the new money.

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Richard Branson is Right Time is the New Money