Investment firm Vanguard is offering $1,000 as an incentive for employees to get vaccinated

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Investment firm Vanguard is offering $1,000 as an incentive for employees to get vaccinated
People are seen by the Wall Street Station during COVID-19 pandemic in New York City, United States on March 25, 2021. Tayfun Coskun/Anadolu Agency via Getty Images
  • Vanguard employees in the US who are vaccinated by October will receive a $1,000 reward.
  • The cash reward will be offered to US-based employees, confirmed a Vanguard spokesperson.
  • This comes as companies are increasingly mandating that only vaccinated employees can go back to offices.

Investment firm Vanguard is offering its employees $1,000 to get vaccinated by October, according to a Bloomberg report on Tuesday.

Vanguard will give the cash reward to US-based employees who can provide proof of vaccination, confirmed a Vanguard spokesperson in an email to Insider. "The incentive recognizes crew who have taken the time to protect themselves, each other, and our communities by being vaccinated," she said.

The offer also applies to those who got vaccinated before the announcement.

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Vanguard said that due to various international labor laws, the incentive would only be offered to employees in the US, where the majority of the company's 17,000 employees are based.

Companies are using lotteries, vouchers, cash, and time off to encourage vaccinations

Vanguard's cash reward is one of the most generous in the US. In March, Marriott International announced they would reward vaccinated employees with an additional half a day's wages.

Meanwhile, other companies have also offered time off and cash in exchange for vaccinations, reported Insider, with supermarket chain Publix giving vaccinated associates $125 in vouchers and Walmart giving its employees $75.

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In a more novel twist, IT company Leidos is enticing employees with a million-dollar lottery to be shared among 10 random employees. Each selected worker will be given a year's worth of salary, and managers are not allowed to participate.

As the Delta variant drives up a fresh surge in COVID-19 cases and as companies gear up for a return to offices, some have mandated that only vaccinated employees will be able to work from the office.

Tech companies, including Facebook, Google, and Netflix, have announced that only vaccinated employees will be allowed in offices.

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Authorities are also doubling down on vaccinations through a mix of rewards and restrictions.

US President Joe Biden last week called for local governments to give a $100-cash-reward to those getting vaccinated. In the meantime, New York City Mayor announced Tuesday that the city would require restaurant patrons and those participating in indoor activities to provide proof of vaccination.

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