Vanguard Group Inc. is offering $1,000 to employees who get vaccinated by October, according to a person familiar with the matter.
The asset manager is extending the payments to all workers who can prove they’ve gotten a Covid-19 vaccine, even if they were inoculated before the company extended the offer. A Vanguard spokeswoman confirmed the company is offering an incentive.
“We are offering a vaccine incentive for crew who provide Covid-19 vaccination proof,” she said in an emailed statement, adding that the company rewards employees “who have taken the time to protect themselves, each other, and our communities by being vaccinated.”
The program follows Vanguard’s decision to move to a hybrid model earlier this year, allowing most staff to work remotely on Mondays and Fridays. As employers nationwide lay out plans to return to offices in some capacity, they’re confronting the question of whether to require vaccinations, especially with the delta variant spreading through unvaccinated segments of the U.S.
Vanguard rival BlackRock Inc. recently adjusted its plans, prohibiting unvaccinated employees from entering U.S. offices starting in July. Workers at the New York-based firm were required to report their vaccination statuses by the end of June.
In Vanguard’s home state of Pennsylvania, about 53% of people are fully vaccinated, according to the Bloomberg Vaccine Tracker.
“Today’s actions send a clear message that even the biggest financial institutions are not above the law,” said Treasury Secretary Scott Bessent.
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