It’s probably something we all wish we could have, but does offering employees, unlimited holiday actually work? Surprisingly, many businesses have already started offering this way of working but it has generated a mixed bag of reviews. With many a small office space for rent, Shoreditch is an area full of those who partake in flexible working. So, is unlimited holiday an impractical novelty, or could it potentially be the way businesses work in the future? Let’s take a look at the pros and cons that businesses have found from trailing it.
When presented with unlimited vacation, employees are happier, and that’s no surprise as those who do flexible work feel the same. Giving staff the opportunity to take time off when needed, without feeling restricted, builds respect between employer and employee. It shows employees that the business cares for their work and lifestyle balance. Staff members will also realise that the business is putting a lot more trust in them, so they’re likely to work harder because of it.
There’s more flexibility and an opportunity for staff to recharge their batteries, especially if they work longer hours or within a very stressful environment. If staff are overworked, then productivity levels will drop and that can have a negative impact on the business itself.
By offering a staff member an unlimited amount of holiday, the likelihood is, they’ll never want to quit their job. This means that staff turnover will be reduced and you’ll retain the talent within your organisation. You might also attract other talent if word spreads about this enticing holiday policy.
Of course, there are downsides to this offer. To start, you need to be able to trust your staff not to take advantage of what they’ve been given. If you offer it to anyone and everyone, you may end up with no staff in the office and no work being done as a result. This makes it hard to implement fairly, and there may well be tensions between colleagues if one has it and the other doesn’t.
This policy doesn’t work with all jobs,and is likely to be more effective with smaller companies rather than big organisations such as construction trade or medical staff working in a hospital.
When offered unlimited vacation, staff might take less vacation time off as a result – as they may be worried or concerned about their workload and how much time would be right to take. Vacation time may also start to feel like less of a reward, especially for those who are at a senior level and have worked in the company for a long time. They probably wouldn’t enjoy newer staff members getting the same benefit as them.
An unlimited holiday policy may work well in some organisations but it might fail miserably in others. It’s worth testing out, perhaps having a hybrid policy that offers this holiday scheme but with limitations so it’s not taken advantage of. When it comes to a serviced office space, Shoreditch is a hub for new businesses and start-ups. Take a look at Proper Office to see if their managed offices are right for your company.