Holiday Exchange

Holiday Exchange


Allow your employees to either buy or sell a number of days of their holiday allocation.


Benefits to your business and employees;


  • Reduces unauthorised absenteeism
  • A good work-life balance is important to your employees wellbeing
  • Employees can control a number of holiday days


EB-EmployersCTA-AbsenceUPEB-EmployersCTA-AbsenceDWN

How will this benefit my business?


  • Reduces unauthorised absenteeism
  • Employees who choose to take additional holiday may be more productive as less they are less tired
  • Helps employees who continually do not take their holiday allocation receive additional wages.
  • Encourages employees to plan in advance which in turn can make it easier for your business to manage resources / cover

How will this benefit my employees?


  • Many employees take the opportunity to buy holiday if they have special events coming up, such as a wedding, a holiday of a lifetime or to work on something like a new property.
  • A good work-life balance is important to your employees wellbeing so it’s important they take their holidays, however, if you have employees who find they always have days left at the end of the holiday year it allows them to convert unused holiday to cash (taxed the same as standard pay)

How does Holiday Exchange work?


You are allowing your employees to either buy or sell a number of days of their holiday allocation. It is advisable to only allow employees to buy or sell holiday before the start of their next holiday year. This allows your business time to pre-plan in advance and (if applicable) ensure you have enough resources in place at peak trading times. For example, if your holiday year runs from the 1st January to the 31st December employees would have to submit their choices of the number of days they wished to buy or sell prior to the 1st January. You can choose to allow your employees to buy and sell from 1 – 5 days of holiday in each holiday year. If the employee leaves your business mid-holiday year they would be reimbursed for any holiday they have bought but not yet taken.

Buying holidays example:
If an employees current holiday entitlement is 25 days per year and they choose to buy 3 days of additional holiday their new entitlement will be 28 days If an employee chooses to buy holiday there will be a reduction in their salary to the value of the number of days holiday they have bought.
Selling holidays example:
If an employees current holiday entitlement is 25 days per year and they choose to sell 3 days of additional holiday their new entitlement will be 22 days If an employee chooses to sell holiday there will be a increase in their salary to the value of the number of days holiday they have sold.
EB-EmployersCTA-RegisterUPEB-EmployersCTA-RegisterDWN