Unlimited Vacation Policies Increasing Among Companies
An unlimited vacation policy may sound like a dream to most employees, but it is already a reality at many companies. More businesses are joining this idea and realizing the benefits of giving their workers this freedom. A recent article in the Financial Times highlighted the popularity of this trend and the amount of time saved by not having to manage every employee’s vacation. HiringThing.com is the latest company to reveal its practices to the public and praise the benefits of giving employees unlimited vacation policies.
Unlimited vacation policies have been in the spotlight since an interview with Phil Libin of Evernote in the New York Times and a recent mention of the company’s rules in the Financial Times. Libin highlighted the policy at his company that gives employees unlimited vacations and avoids making them feel like being in the office is a punishment. The company even rewards them with a $1,000 bonus of spending money for their vacations.
HiringThing.com, a startup that recently received $1 million from angel investors, has revealed its unlimited vacation policy. The company focuses on helping businesses find employees with a unique system that combines advertising and reports, so its progressive vacation policy is not surprising. The founder, Joshua Siler, believes that employees need time to recharge their creativity and should have flexible schedules. HiringThing.com requests that employees be considerate and let others know in advance before starting a vacation, but other restrictions are minimal. Siler even offers the policy as a free example for other businesses to follow.
Many large companies have used the unlimited vacation time policies for years, and Netflix is one popular example. Does this freedom actually create happier employees and a better work environment? According to HiringThing.com and Evernote, the policies make a difference. Employees are still motivated to get their work done while enjoying more freedom in selecting their vacation days. Flexible schedules also give them more time to recharge.
Marcelo Calbucci mentions in his article on EveryMove that many modern business practices are outdated and need to change. However, startups have the opportunity to be more flexible and give their employees unlimited vacations. The key concept is “treating employees as adults who are personally responsible to manage their work and its results.” Inc.com encourages the practice by noting that unlimited vacation time leads to better productivity. Joshua Siler points out that it actually improves the relationship between an employer and employees by showing you trust their judgment. The unlimited vacation policy is a trend that is quickly growing among businesses.