Vacation days on loan from employer
December 28, 2013 8:48 AM Subscribe
The company I work for is changing their policy on vacation days. Has anyone ever heard of vacation days being "loaned" to employees to be paid back if/when that employee left the company before the end of the year?
posted by Shadow Boxer to Work & Money (28 answers total) 1 user marked this as a favorite
The company I work for used to have what I thought was a pretty standard policy on vacation days: all full time employees get 2 weeks paid vacation after being with the company for a certain amount of time. Unused vacation days could be rolled over to the following year, or paid out.
They have changed the policy for 2014. Everyone will start the year off with 1 given vacation day and accumulate 1 vacation day per month for the rest of the year. We can take vacation at basically any time as before, but any days past what we have "earned" will basically be on loan to us, on the chance that we don't stay with the company for the whole year. In that case, if we took any loaned days, we would have to pay for them. If we stay at the company and didn't use all of our vacation days, they would be paid out to us at the end of the year.
I've personally never heard of such a set up and wanted to know if anyone has a similar arrangement at work, and how you made it work for you. For example, I already have a vacation scheduled this winter and am tempted not to take the paid time off now, and just wait until the end of the year but I'm worried about how that would look to my employer.