Be quick if you're sick at Merrill

25 May 2007

2 minute read

You wouldn't want to work at Merrill Lynch during an outbreak of H5N1.

The US bank reportedly plans to penalise employees who dare to take more than three sick days a year. Strikes us this doesn't make great business sense.

Firstly, there's the risk that employees with the lurgy will feel compelled to return to work sooner than they might otherwise have done, engendering an office cold epidemic - or worse.

And secondly, in these days of scarce talent and brutal combat over anyone with an ACA or deal execution experience, Merrill's decision doesn't look very... well, caring.

"It all sounds a bit draconian," says a banker at a rival US firm in the City, which allows its employees to take six consecutive days out before they're obliged to explain themselves and produce a doctor's note. He adds: "The average in the City is probably between five and eight days. This doesn't send a great message to Merrill's employees - it leaves the bank looking a bit harsh."

From Merrill's perspective, the move appears to be wholly rational, however. Selena Morris, a spokeswoman for the bank, reportedly told the New York Times that it brings the company in line with the competition and will discourage skiving employees from taking Fridays off in July.

AUTHORAnonymous

Insider Comment

Ri
Rika
14 June 2007
This is hilarious - how can anybody dictate how many days you can fall sick IN A YEAR?! Instead of meddling with the sick days leave, ML may be better off focusing on how to strengthen team work and ensure things get done in spite of sick team members.
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An
Anonymous
7 June 2007
You are all sick for supporting this restriction on more than 3 days illness. Grant, I don't know how old you are but you must be a kid in his early 20's who thinks he will always have his health. Wait until you have children and they make you sick more than 3 days or you are in your 40's and 50's and start getting sick more than 3 days. You will eat your words.
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gr
grant
2 June 2007
Lets face it, how often is anyone really so ill that they need more than 3 days off? Obvious situations - like an operation - need no more explaining, but a general feeling of unwellness rarely lasts more than 3 days. This is an excellent way of routing out schiving dead wood...
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Ma
Mathew
29 May 2007
Right step at the wrong time. Its a bold step for a leading Bank. But with other Banks not changing their policies... employees at Merrill should see a catch to stick around..!
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sa
sait
29 May 2007
It just shows the lack of respect for the ones who might be sick in the future, If Im sick ill go in to work and affect everyone? mm rational decisions cause destructions.. 5 days should be norm may be even that would be rational, if they are willing to do that maybe they should have a nurse/doctor in the buildings that would help everyone not just the ones who are feeling sick or are sick.
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