What are the benefits of a floating holiday?
If a company decides to offer floating holidays to their employees it can be advantageous for both them and their workforce. To help you understand why we’ve compiled some of our top benefits to floating holidays.
- It enables your business to run year-round
Some businesses automatically give all employees time off during certain holidays, however, arranging for a company blackout like this might not be the most beneficial of decisions for you or for your business model. It might mean that you are unable to operate, bring in revenue during a very busy time of year.
However, offering floating holidays enables some employees to take time off while also allowing space for other employees to remain working, thereby keeping your business operational.
- It improves company work-life balance
Everyone loves having paid days off, however, not everyone’s life fits or special occasions look the same. A system of floating holidays acknowledges this. Instead of forcing employees to take the same days off across the company, it gives them the freedom to manage their holidays in a flexible manner, thereby enabling them to take paid holidays on days that suit their personal commitments and enhancing their work-life balance.
- It builds an inclusive work culture
Creating and allowing for a diverse company culture should be among the most important priorities for all organizations, no matter their size or industry. It’s important that all workplaces reflect the diverse world in which we live and that isn’t just in reference to hiring procedure, but it also means allowing for and celebrating the cultural differences and preferences among all employees.
Adding a floating holiday to your company’s benefits package is a wonderful and proactive way to support your company’s initiative to become more diverse. It also reflects the fact that most cultural and religious holidays are not recognized by standard company procedure and gives individuals the space to observe the ones that mean something to them.
- It enhances employee satisfaction
Employees who feel fulfilled and recognized by their company and work policy are better employees. It’s a simple fact.
A floating holiday is an inexpensive yet mindful benefit that could make a huge difference to your employee's overall satisfaction and motivation levels. Additionally, it can be hugely beneficial to the trajectory of your company because it will likely be perceived as attractive to top talent and enhance your retention rates. It’s a win-win!