Cameo Is Giving Its Corporate Headquarters Employees a $10,000 Raise — to Come Into the Office More Often

COMPANY OFFERING TO EMPLOYEES

Companies like Amazon, JPMorgan and Walmart are implementing return-to-office (RTO) mandates, with one company sweetening the deal by offering its employees a $10,000 per year bonus for coming to the office more often.

Cameo, a startup that lets users buy and receive personalized video messages from celebrities, rolled out a new RTO policy this week that requires 26 employees working at the company's Chicago headquarters to attend the office Monday through Thursday, according to CNBC Make It. The policy, which the company announced to employees last month, allows employees to receive a $10,000 per year bonus in addition to free parking, free daily meals and free access to an on-site gym.

"We really wanted to make coming to the headquarters a bonus rather than a punishment," Cameo CEO Steven Galanis told CNBC Make It. "We know we're asking you to give up flexibility, and we want to compensate you for that." Related: AT&T, Sweetgreen follow Amazon in tightening return-to-office requirements — though Amazon's plan hits snags

Cameo has two dozen other employees working in the U.S. and abroad, primarily in New York and Los Angeles. They were allowed to continue working remotely, but their pay was not increased.

Galanis, 37, decided to set the annual bonus at $10,000 because the amount would make a "significant" difference in employees' lives, and he hoped it would help junior employees find housing nearby rather than take long commutes.

The Chicago headquarters will open in the summer of 2024, but Cameo's management never set strict days for employees to come to the office. Galanis said previously Chicago-based employees came to the office only when necessary, and averaged two to three times a week.

When Cameo informed its Chicago-based employees of its four-day workweek policy in the office last month, it also gave them the option to relocate outside of Chicago and avoid commuting to the office.

Cameo found that none of its employees quit or moved after the announcement. Instead, the opposite happened. Some Cameo remote employees based in other locations have expressed interest in relocating to Chicago and taking advantage of the perks offered to in-office employees.

The HealthEquity study

They released earlier this month surveyed more than 600 full-time employees who transitioned from fully remote to hybrid or fully in-person work. Three out of four employees said their RTO experience was positive, and 74% said they experienced better collaboration.

The top motivators for office trips were not free meals or promotions, but professional development opportunities (50%) and team-building activities (47%). The biggest barrier to working in-person, the survey identified, was travel costs (54%).

The last few years have been tumultuous for Cameo. The pandemic has propelled the startup to unicorn status, with a valuation of $1 billion by 2021. Sales will plummet by March 2024, wiping out 90% of Cameo's value.

Galanis told TIME in December that he believes momentum has shifted in Cameo's favor.

"I'm so grateful to our investors and our team for believing in me and giving us a second chance to build a company that we believe has not yet reached its potential," he said.