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Posted: 1st February 2022
Hi All – I wonder if anyone can share with me their current process or policy in regards to having a holiday buying scheme?
I am looking to introduce holiday buying for up to 5 additional days to a small population in the business and need to present to the Board details on the scheme and how we can set it up.
Thanks in advance!
We let people buy up to 5 days. They can do it at any time of the year, there’s a form where they sign up to say how long they want to take to pay back as long as it’s all cleared through by the end of the year. We keep it very, very simple – we don’t require it to be taken by a particular time, or have it impact anything else. We used to say you couldn’t buy until you’d been with the company for 5 years, but why put in an extra layer of admin – we’ve taken out that restriction. As a benefit it’s very much appreciated, but probably only taken up by about 10% of our population of mainly office based staff.
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