Allowing employees to buy and sell holiday allowance is an increasingly popular benefit. Selling holiday allowance can help employees struggling with cash, while buying them (the more common preference) can aid the elusive work/life balance. If you’re considering it, weigh up the pros and cons:
Pros:
- Highly valued by employees and can boost engagement.
- As employees are more likely to buy than sell, makes financial sense for organisations.
- An attractive benefit for attracting talent.
Cons:
- Possible staff shortages at certain times of year, for example during the school holidays.
- If staff choose to sell days, overwork may lead to stress.
- If selling holiday proves more popular than anticipated, it can have a negative financial impact.
