Bank of America Corp. is offering rewards of $ 200 to Merrill Lynch Wealth Management branch employees who return to the workplace and confirm they are fully vaccinated against Covid-19.
The company will present the award to client associates, administrative support and operations staff “in recognition of the important work they are doing while the company is back in the office,” a spokesperson for Merrill said in a statement. communicated to Bloomberg News.
Although the new policy is not a mandate like those put in place by United Airlines Holdings Inc. and Microsoft Corp., Bank of America is following other US companies in offering a financial incentive to get the snapshots. Delta Air Lines Inc. imposes a monthly fee of $ 200 surcharge on employees who are not vaccinated.
At Bank of America, eligible employees can voluntarily report their status through Merrill’s “Confidential Immunization Status Tool,” Merrill Lynch Wealth Management President Andy Sieg wrote in a memo to staff seen by Bloomberg. . The financial incentive was initially reported by AdvisorHub.
Many Wall Street companies have reworked their return-to-work plans over concerns about the delta variant, either pushing back the dates they expect staff to return or requiring workers to get vaccinated.
Merrill employees would need to be in the office at least eight times between early October and mid-November to be eligible for the payment, according to people familiar with the plans. More than 80% of Merrill’s roughly 25,000 employees have voluntarily declared their immunization status and have or are returning to the office, the spokesperson said.
Bank of America had encouraged vaccinated employees across all its lines of business to return to the office after Labor Day last month. For now, the company is only bringing back workers who have confirmed they have received the vaccines.
“Although there is no mandate for vaccination throughout the company, we strongly recommend that employees get vaccinated and inform us of their status,” the spokesperson said. “We continue to educate our employees on the health and safety guidelines of medical experts and health officials, and to encourage them to get vaccinated for their safety and the safety of others, including our customers.”
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