Winning vacation benefits and policies
Employers can pool vacation, sick and personal days, even holidays, in a single bank. Employees get off a certain amount of hours a year, and can use that time off anyway they like, without having to ration days for a specific purpose. They can take off the day or part of the day for whatever purpose, within the needs of the business.
For companies with strong financial reserves, purchasing one or more vacation properties for employee R&R can score big appreciation-points. Certes Financial Pros, a professional outsourcing firm based in Minnesota, makes three homes (one in northern Minnesota and two in Florida) available to employees and their loved ones for vacations.
At Netflix, there is no vacation policy and tracking. For employers concerned that such an open leave policy would lead to more days off than in the office, Neflix is quick to note on its website that the company also lacks a dress code, but that no one comes to work naked. Leaders set the example by taking big vacations to encourage employees to take time off and return recharged.
A member of the Employee Benefit Adviser LinkedIn group recently piqued broker interest in a vacation program that allows an employee to take a vacation and pay for it over a one-year period, interest-free, via payroll deduction.
Employers can offer employees credits toward extra vacation days as prizes for participating in a wellness program seminar or activity.
Taking time away from the office has been shown to reduce stress and improve employee productivity. Bolstered by such positive statistics, some employers have taken a renewed look at their vacation policies to better fit increasingly diverse and often dispersed employee populations. EBN has compiled 5 unique approaches to vacation benefits that encourage employees to unwind and return to work with renewed vigor. (Images: Thinkstock)