This staff benefit could boost recruitment but won’t cost a penny
Recruiting the best new people can be a tough challenge when competition is fierce and staff budgets are tight. And understandably every potential new employee wants to secure the most attractive total package they can. So now is the perfect time to look at one benefit that costs nothing to offer but gives employees something they really like: flexibility.
Many employers have already looked at flexible working and remote working. For some this will have proved feasible but for other businesses or job roles, it may not be practical or possible to introduce. But another often overlooked option is holiday rollover. This gives employees greater flexibility with their holiday entitlement by allowing them to carry over unused holidays into the next year, on top of the new allowance. There are some legal limits on how much can be taken over which need to be adhered to but apart from that, it’s up to the business to decide how many days and any cut off point that applies.
Let’s assume your company policy is to offer the UK statutory minimum of 28 days holiday for employees that work full time. Legally the maximum number of days that could be rolled over is 8 although you can also choose to limit the number of rollover days to less than that. Some companies cap it at 5 days for example. You also need to decide whether to set a time limit on when the rolled over days must be used by although you don’t have to do this. Some companies specify 3 months for example; others simply add the rolled over days to the following year’s entitlement.
Why holiday rollover is good for job candidates, recruiters and your existing workforce
The great thing about holiday rollover (apart from the fact that it costs the company nothing!) is that it is seen by employees as a real perk. Everyone likes a bit of extra flexibility – and even if some staff might not actually exercise the option, the fact that it’s there just in case is a real positive. The alternative is to simply lose those untaken days because they’ve been too busy to take them and no one can find a positive slant on that.
Holiday rollover will give your company a small competitive edge over others’ packages where it’s not offered (or it is but has been overlooked and not mentioned in the recruitment process). Every positive counts – so although this one benefit obviously wouldn’t be the only reason to join your company, it might well be the one thing that tips the balance and results in your offer being chosen over another.
Consider too that holiday rollover is seen as a given by plenty of the younger generation who are familiar with the flexible working practices offered by companies like Google. They may not be applying for a job at that company but they are certainly likely to be aware of the kind of benefits that modern, forward-thinking businesses offer.
And finally, don’t forget that holiday rollover is an excellent option for existing employees too. As well as demonstrating that the company cares and wants staff to use their holiday entitlement, it might also help with staff retention as well as recruitment.
It’s a win:win.
