Can unlimited paid leave work in Slovakia?

Large companies succumbed to a looser system

Unlimited paid time off starts to work in the work environment a minor revolution. The principle is simple – instead of a fixed number of days of paid vacation, employees have an unlimited number of days throughout the year. Of course, this is preceded by an agreement according to the company's internal guidelines. The purpose of this policy is give workers more freedom to manage both their workload and personal livesThis way of taking time off can lead to increased well-being, which benefits both the worker and society.

Large companies want to give their employees enough freedom. According to them, this contributes to more effective work performance. source: unsplash.com

The idea originated among startups across the pond and has since spread to large companies like LinkedIn, Netflix and BumbleThis trend is now becoming increasingly well-known on Wall Street. Investment banking firm Goldman Sachs recently granted unlimited paid vacation to its senior employees.

According to the report, partners and executive directors can "take time off when needed, without entitlement to a fixed day of vacation." Younger employees were given two additional days off per year, and the company said all workers must take a minimum of 15 days of vacation each year.

Benefits for personal life

At first glance it looks like positive initiative from a company located in an environment with grueling work hours. Unlimited paid time off would provide overworked employees more time to restImproving mental health and achieving work-life balance is a global issue. Companies are therefore trying to do everything they can to so that employees do not leave for competitors for better conditions.

Commuting to the same environment every day and following a consistent routine has a major impact on our psychological well-being. source: unsplash.com

President and CEO of the Society for Human Resource Management, Johnny C. Taylor Jr. prefers the term "open holiday". So, a vacation doesn't necessarily mean a spontaneous trip to the seaside. We often need to take care of medical check-ups, family matters, or just want to distance ourselves from the world around us for a while. The problem is that a weekend simply doesn't suit us and isn't enough for this.

An unusual experience for employees

Although such a benefit sounds tempting, unlimited paid time off is currently used by four percent of American companiesThere are plenty of companies that have experimented with this approach, only to abandon it after a few months. A 2018 survey found lower vacation usage with this work policy. According to another survey One-third of American employees with unlimited vacation work during it.

Paradoxically, people take less time off in this case than with a fixed policy. source: unsplash.com

Several companies have ended seemingly ideal work systems precisely because of this fact. Workers may react to the new policy differently than managers anticipated. An example is the recruitment company Unknown. Its CEO stated that People in his company felt guilty if they weren't at work. "without reason." Instead, they switched to 32 paid days off, across all ranks of employees.

Providing unlimited paid vacation can therefore bring not only benefits but also problems. Safeguards protecting workers' interests are being removed, if they can't take time off. They don't have days that they have to take by law by the end of the year or carry over to the next. For a company, this means that if this happens to several employees at once, they can save quite a bit.

How to give Slovak companies courage?

A generous vacation policy could appeal to a broader workforce, experts say. Netflix CEO,  Reed Hastings In his 2020 book, he detailed why it took years to achieve a more liberal regime. He eventually found that "Freedom signals to employees that we trust them to do the right thing, which in turn encourages them to behave responsibly."

The division of work and free time, as implemented by the largest streaming company, also inspired Slovak startup. CloudTalk It is composed of people who follow current trends, and it is no different in the work area. The initiative to change the fixed vacation came directly from the employees.

However, the new concept does not appeal to unlimited choice. Although it is a looser system, precise conditions have been set, for example, who should employees report to in case of need. It is a bold step, but today's companies should not be afraid of the challenge, but experience it firsthand.

• Sources: www.bbc.com, www.startitup.sk
• Cover photo source: pexels.com