Vanguard, one of the world’s largest asset managers, is offering employees $1,000 to get vaccinated.
All of Vanguard’s approximately 16,500 US employees are eligible and must show proof of vaccination by October 1.
“Vanguard recognizes vaccines are the best way to stop the spread of this virus and strongly encourages crew to be vaccinated,” Vanguard spokesperson Charles Kurtz said in a statement.
“As such, we are offering a vaccine incentive for the crew who provide Covid-19 vaccination proof.”
Vanguard confirmed the $1,000 figure, first reported by Bloomberg News, and said the incentive is designed to recognize employees who took the time to “protect themselves, each other and our communities by getting vaccinated.”
The move comes as several major companies have stepped up their efforts to boost vaccination rates.
Vanguard, which manages more than $7 trillion globally, also joins a slew of other companies that have offered incentives to get a jab — albeit more modest ones.
For instance, Kroger (KR) employees will get a one-time payment of $100 if they show proof of vaccination. McDonald’s (MCD) corporate employees are eligible to get up to four hours of paid time off. Vaccinated workers at Bolthouse Farms can receive a $500 bonus.