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 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