Would You Buy Extra Vacation Time?

http://www.dailymail.co.uk/news/article-2338406/Need-break-The-companies-allow-workers-BUY-extra-vacation-time.html

In five per cent of companies in the U.S., employees who need extra time off don't need to negotiate with their managers - they can simply buy the days they need.

These companies allow their workers to buy and sell vacation time, a perk that gives workers more flexibility in managing their time off.

The novel approach might help employees buy some extra days off to take the trip of a lifetime or spend more time with a newborn. Co-workers could sell off unused days to get some extra money.

'When times are a little tight, this benefit really doesn't cost a lot of extra money to employers to provide,' said Julie Stich, research director for the International Foundation of Employee Benefit Plans.

'It's offered by more forward-thinking or flexible-type employers.'

A soon-to-be released survey by the Society for Human Resource Management found that nine per cent of employers allow workers to cash out unused vacation time. Five per cent let employees purchase additional vacation days through a payroll deduction. An additional seven per cent allowed employees to donate vacation time to a general pool that can be used by other workers.

Yes thats awesome.

Buying it? If you go without the days pay that's cost enough. Selling on the other hand is a good idea IMO. They have to force some of the old wops at my work to take their vacation. It's pathetic.

I wouldn't buy it.  My company is pretty good about allowing you to take unpaid time off, which is essentially the same thing.

I have like 6 weeks of vacation saved up right now, I think I cap out around 9.  If I ever got up that high, selling it back would be a nice option.

 

Shit, I need to take more vacation.

I'm able to buy an extra week at the beginning of the year and its pretty nice. Phone Post 3.0

KnuckleDeep - I'm able to buy an extra week at the beginning of the year and its pretty nice. Phone Post 3.0

Me too.
It's basically unpaid time, but they take it out of my pay every check--totally worth it imo.

My company allows you to cash in unused vacation time at the end of the year.

You don't work and you don't get paid, what a concept. This concept simply turns salaried workers into clock punchers.

One company I worked at offered this, if you made $1000/week it would cost $1500 for an extra week of vacation time, what a deal.

I can buy a max of 3 days a year of vacation. When properly scheduled I have 4 weeks of vacation each year, and because the cost is divided by 26 cheques, the cost is neglible.

i had the option but never took it because i had plenty of vaca/personal/sick/floating holiday time.

it was like the NYSE in there around ky derby time with people trying to buy/sell days off, though.

A place I used to work at allowed this, at the start of the year you could 'buy' a weeks vacation. Basically you wouldn't get paid for that week.

Then, rather than take the week in one lump sum they would spread the payments out over the year.

You could also do the reverse and get paid a little extra each month. Phone Post 3.0

I use or lose my vacation, sick days roll over and holidays are either used at my discretion or they pay me.

I wouldn't buy extra time, I would use FMLA or get a Dr note if I needed extra weeks and use up accrued sick time. Phone Post 3.0

I buy an extra week every year (I get 3 weeks vacation and unlimited sick time). Time off is more important to me than the pay.

I work in the UK, I get 28 days off a year as well as up to 13 days off in flexitime.


Oh, and public holidays too.

So yeah, I'm feeling tired it would be great to do this! Phone Post 3.0

cruedi - You don't work and you don't get paid, what a concept. This concept simply turns salaried workers into clock punchers.

One company I worked at offered this, if you made $1000/week it would cost $1500 for an extra week of vacation time, what a deal.


At my office it's actually well-received.

You're allowed to "buy" up to a week of extra vacation time and it's paid for a little out of each check so most people don't miss it.

If you don't use it it get's paid back to you, so many of the people that do it use it as Christmas fund and just get it all back in one lump at the end of the year.

I already get 5 weeks vacation, so I don't need to buy any.