A new Estonian start-up company, Jobbatical.com, a job site for work sabbaticals and career breaks, has received 260,000 euros worth of investments from the state investment company SmartCap, and has locked in funding from six private investors.
Jobbatical.com helps to connect people, who have taken a sanctioned leave from their work to take on new challenges and a combined work and travel experience, with employers who are seeking to hire highly skilled professionals for short-term projects.
The site has now secured 130,000 euros from SmartCap, which is the investment arm of the Estonian Development Fund, and another 130,000 from Angel Investors, Delfi reported.
Karoli Hindriks, the Founder and CEO of the start-up company, told ETV that she came up with the idea when she decided to take a break from her job and discovered that sabbaticals have actually become rather popular in the developed world.
"You agree with your employer to take a break for three to 12 months, so you can travel or do something else you enjoy, but it won't cost you your job, as you are officially allowed this time off," she said, the reason being that if valued employees are allowed leave for an extended period of time, they will still return and keep working for the company, but if they are not, they might leave for good.
"Holding on to the talent has become a key concern for the employers, this accounts for the popularity of sabbaticals," Hindriks said.
According to Hindriks, around 40 percent of UK businesses and 29 percent of US employers now allow sabbaticals.