The Secret to a Successful Company – Unlimited Vacation Time
Always a popular topic in the current media news cycle, several companies have started giving workers unlimited paid vacation time. While this idea certainly strikes people as unusual, it is actually common among some of the newer start-up companies. Ever since billionaire Richard Branson instituted this policy with his company, Virgin Group, the idea has spread like wildfire.
The crux of this policy is that workers can take as much paid vacation time off as they want, provided that their work is completed. While the results of such a policy are still debatable, there are some reasons why this policy can actually help a policy succeed despite workers overall working fewer hours.
This encourages workers to be more productive while they are at the office.
The idea of unlimited vacation time is enticing to all employees. These individuals know that once their work is done they are essentially free to go. This benefits both the employer and the employee. From the company side, this means that resources at the office are actually used for work while the employee is there. On the employee side, this definitely means more time at home and fewer hours at the office, provided the company isn’t overwhelmed with work. It’s undeniable this can be of benefit to both sides.
Next, the employee will arrive more refreshed at work.
With fewer hours at the office and more hours with friends and loved ones, the employee will arrive fresh at work every day. It’s no secret that everyone wishes they had more hours in the day to spend with the people they love most. With an unlimited vacation time policy, this will lead to employees having those extra crucial hours to spend with people they otherwise wouldn’t get to see very often. This leads to happier employees and a happier office culture. This can only be of benefit to the company.
Fewer hours at the office keep company utility bills and overhead low.
This cuts down on electricity being used to power computers that are being used for employee personal time or internet browsing. With employees free to go when the work is done, employees are less likely to browse the internet since this slows their productivity and only serves to increase the amount of time it will ultimately complete their work.
Also, printer ink is expensive. Employees are less likely to use the printer for personal reason since, again, this means a greater overall amount of time to complete their work. Fewer employees in the office also means fewer bathroom breaks and a lower plumbing bill. Lower overhead costs are always of benefit to the company.
Unlimited vacation time leads to less stress over vacation days for major issues.
It’s been a hot topic in the media recently that this country is one of the few on earth that doesn’t mandate some degree of required maternity leave for new mothers. Employees are often forced into using their vacation days to care for their newborn. This can be of major issue when employees run out of vacation days while their infant still needs to be fed every three hours.
Obviously trying to care for a newborn baby at work simply isn’t feasible and distracts other employees in the office. With unlimited vacation time, this simply doesn’t matter. New mothers can take off as much time as they want to provided their work is done. Even more, with enough notice, the boss can find other people to pick up the slack. This makes both the employer and the employee look good.
Unlimited vacation time will attract the best and the brightest minds to the company.
In a survey conducted in 2012 of thousands of employees, close to 70% believed that unlimited vacation time was a positive selling point of a company and would take this into strong consideration when deciding where to work. If people are attracted to the idea of unlimited vacation time, this will make the applicant pool more competitive.
The company will have stronger and stronger candidates ultimately increasing the quality and quantity of the product the company can produce. With such strong results, this puts the company on the map and serves only to grow a business even faster.
Controversial, but the Results are Clear.
While the idea of unlimited vacation time is still a young and controversial, it is undeniable that this idea has some positive selling points and the potential to make certain companies very successful if employed in the right way. With so many start ups and established businesses already using this idea, people should pay attention with an open mind as these companies balance the vacation time with the needs of the company. So long as your employees fill out their vacation request forms on time, this policy may produce huge benefits.
Article provided by NECHES FCU, with locations in Port Neches, Nederland, Beaumont, Lumberton and Bridge City.
Neches FCU is a Texas credit union and has an awesome team of professionals ready to deliver service all members. When their doors open at any of the several locations, our goal of “Ultimate Member Satisfaction” becomes the driving force for every staff member. They are well-known for a personal, dynamic and fast-paced work atmosphere, providing a memorable service experience, and where clients are known by name. Neches has approx. $438 Million in assets with over 45,000 members. Neches Federal Credit Union is acknowledged by members and the business community as one of the best credit unions in texas and an actively involved partner, helping our Family, Friends and Community!