In the last decade traditional leave programs have been replaced with Paid Time Off (PTO) programs. PTO is believed to reduce unexcused absences, since employees may use their time off for vacation, sick, or personal reasons. Employees have welcomed the added flexibility of using PTO as they want to or need to in their quest for work-life balance.
A new trend, though, is taking hold for a few companies. Some may explain it as an experimental leave program that employees would take advantage of, but those who have adopted it report increased productivity. It is called Unlimited Vacation time. Most recent to join the ranks of those not tracking vacation and time off is Virgin. Founder, Richard Branson, announced that his company would be offering unlimited vacation following suit with Netflix and a handful of others.
An unlimited vacation program is designed to give employees the ability to decide when they will be gone as they need to recharge and avoid burnout. However, they are held accountable for completing their work, meeting deadlines, not leaving their team in a bind, and coordinating with other employees to cover for them. The program encourages autonomy, which boosts morale and creativity, fostering satisfied employees. And, we all know that happy employees are productive employees!
Is unlimited vacation time for your company? We’d like to hear your comments.
Read more about this unique time off initiative here.