Unlimited Vacation Policy: Should Your Company Adopt It?
By Jezabel Southard
Posted on April 29, 2016
This trend is becoming more and more popular.
Does offering unlimited vacation time make sense for your business?
Here are some key points to consider:
- What are your “aspirational companies” doing? We tell employees to “dress for the job you want,” but when it comes to setting policies and creating compensation packages, we overlook that companies should “dress for the employees they want,” as well. Look at the companies that are getting the type of talent you want. What are their policies? Are they using unlimited or flexible vacation options to attract talent – and if so, how are they making it work?
- How will a policy change affect your day-to-day business operations? If you offer unlimited vacation, how will you ensure that the most popular vacation weeks of the year don’t leave your office without the core staff it needs to function? Talk to your staffing firm for help managing the workload or finding qualified temp talent who can cover.
- How would an unlimited or flexible vacation policy improve retention? Employee retention is essential to maximizing productivity, keeping motivation high, and reducing the costs and stress that inevitably accompany employee turnover. Talk to your current staff to see how an unlimited or more flexible vacation policy would fit into their current culture, approach and work-life goals. Would the policy help your best people reach new heights – or will it be quickly forgotten?
Who can help?
In addition to exploring how these policies are implemented in similar companies, don’t hesitate to reach out to your recruiter. Your staffing firm can give you an overview of the trend and specific advice for implementing it for your team, your culture and your business.
At TERRA Staffing, our recruiters work closely with each client. They can help ensure you have the top talent you need when you need it.
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