Staying at one company for decades was once a badge of honor. But as layoffs have become more common and workers have turned to job hopping for higher pay and career growth, employee loyalty has become harder to find. Billionaire investor Bill Ackman, however, still believes earning employee loyalty is worth every penny.
That’s why his hedge fund Pershing Square, which manages roughly $35 billion in assets, offers its four dozen employees generous workplace benefits, including broad ownership and an even rare degree of flexibility for Wall Street.
“There’s not a person at Pershing Square that doesn’t own multiple millions of dollars of stock in the company—whether you’re the cleaning the space or at the front desk or another role in the company,” Ackman told Fortune’s Editor-in-Chief Alyson Shontell on a recent episode of Fortune’s Titans and Disruptors of Industry podcast. “We believe in taking care of our people.”
Ackman’s approach to retention goes beyond financial incentives. While Perishing employees are required to work from the office five days a week—that policy only applies for 10 months of the year. During July and August, employees can spread out as they like, with the company’s investment team moving to the Hamptons together, either in homes they rent or own, to work.
