Unlimited vacation policies allow organizations to provide an incentive or bonus to employees without increasing salaries. Employees take sick leave, vacation, or personal leave whenever they want, as much as they want, as long as they get their work done. It’s a simple concept and it’s gaining popularity.
Benefits of Unlimited Vacation
Unlimited Vacation has some great benefits that include:
- Boosting Employee Morale – employees who like their work and have the incentive to get it done like this unlimited option. It demonstrates that they are trusted employees and that employers recognize their competence.
- Providing a Job Perk – unlimited vacation does not cost more for employers. In general, employees are not taking more days than they did before unlimited vacations. Most employers are reporting that their employees are more productive.
- Improving Efficiency and Productivity – these policies are promoting increased efficiency and better use of time. Some organizations that have implemented the Unlimited Vacation policy say that their productivity went up as much as 30 percent.
- Facilitating a Productive Culture – unlimited vacation policies encourage employees to focus on getting the job done, meeting deadlines, and exceeding expectations. The policies also facilitate flexible work schedules and support employees who work from home.
So far so good. Unlimited vacation policies appear to be the source of healthier and happier employees.
Benefits of Unlimited Vacation for Employers
Employers benefit from these policies by reducing record-keeping necessary compared to conventional sick leave, vacation, and personal days uses by employees. Accounting and administrative costs associated with counting employees’ hours and figuring increments is eliminated.
Best of all, perhaps, is the creation of a happier, healthier workforce, which will boost productivity and could improve your bottom line.
These policies offer a win-win for both motivated employees and their employers. To be successful, however, they need to looked at carefully and implemented properly. Individual State Laws and policies may impact the implementation of this type of policy. Local regulations need to be considered before making any decisions.
Unlimited vacation policies are certainly worth thinking about, however, as a way to ease the administrative and financial burden of traditional policies, as well as increasing flexibility and, potentially, the productivity of your employees.
For more information on unlimited vacations, how they might work for your staff, and other innovative ideas for improving your business, get in touch with HR Agent at (800) 828-0240, by email at info@hragent.com, or use our simple online form