When the name of your company is PerkSpot, it’s understood that you’re going to offer some pretty good perks to your employees. One of our company-wide favorites? Our open vacation policy! Check out why PerkSpot chooses to offer this and why it could be the right PTO policy for your employees!
But first… what is an open vacation policy?
An open-vacation policy is tough to define, but we’ll do our best. Essentially, a company that offers open vacation doesn’t create a specific amount of days that its employees can take off. The policy can vary from company to company. Some refer to it as unlimited vacation. Others suggest a general amount of days but don’t dock employees for choosing to take more or less, and some have their own customized vacation policy that includes other guidelines. Here are our top reasons for offering open vacation!
1. Encourages Work/Life Balance
In a recent poll by Gallup, over 60 percent of surveyed employees said they feel burnt out at work sometimes, very often, or always. One of the best ways to combat burnout? Unplug! At PerkSpot, we place a strong emphasis on creating a good work/life balance, and using a vacation day (or three!) gives employees a chance to do this. Whether PerkSpotters choose to use their time off relaxing on the beach, exploring a new city, or immersing themselves in some quality self-care, it’s okay by us!
2. Boosts Company Morale
Simply put, employees like vacation! That’s no surprise to anyone, but what might come as a surprise is how much offering a perk like open vacation can improve both company morale and employee loyalty. Employers who offer open vacation must instill a good amount of trust in their employees and the fact that they won’t take advantage of it. Similarly, employees who receive such a great perk will go to great lengths to ensure it’s something they use, but don’t abuse. It’s a win-win for both employer and employee!
3. Improves Work Skills
Believe it or not, an employee’s work can actually improve from taking time out of the office to relax. According to an internal Gallup done by Ernst & Young, year-end performance ratings improved by 8 percent for every 10 hours of vacation time an employee took. Plus, they found that vacation-goers were less likely to leave the firm than those who rarely used their vacation days. What’s more, traveling can help improve an employee’s flexibility and communication skills and provide them with a new perspective.
An open vacation policy is a great perk, but it’s not something that will work for every company. If you choose to implement it, be sure to include guidelines about proper communication and planning before any vacation is taken so that it’s a smooth and easy transition. Happy vacationing!
