June 2018 - Time is money and that goes double for the company benefit of extra holiday time. In other words, a company is willing to provide an employee with more time off that is included their salary. More time off during the calendar year is currently one of the most attractive modern company benefits. A Paylab.com survey found that its attractiveness, together with flexible working hours, is on the rise. Most companies offer employees 1 to 5 extra days off over and above the legally mandated holiday time. In some countries, however, going on holiday is a true luxury.
Employees appreciate this benefit more in countries where there are fewer days off or in countries where fewer national holidays fall on business days. Some companies offer extra time off on employees’ birthdays, as an example. Giving loyal employees who have remained with the company for an extended period of time more days off is a very attractive form of motivation.
Seeing an opportunity to “unplug” can be very appealing to employees in the face of a crush of work responsibilities. Some use the free time for themselves and their hobbies, while others focus on family and friends, continuing their education or home improvements.
The ability to better cover school holiday time is attractive to parents with young children, while those who travel have the opportunity to plan a longer holiday and to see and experience more on individual trips.
The prevalence of extra holiday time varies from country to country. Among the surveyed countries, it is most common in the Czech Republic, where up to 33 per cent of employees report this specific benefit.