As Jerome Mattern, chairman of the compensation and benefits committee at the Society for Human Resource Management, explains, “A vacation donation policy is a kind way for employees to engage in social camaraderie.” Such a program allows workers to donate vacation hours to a common “bank,” from which employees who are unable to work due to personal illness or crisis may draw. Employees in need of financial assistance may also be permitted to convert into cash the vacation days they receive. However, Mattern suggests capping the number of hours that employees can request, and, most importantly, consulting with an attorney before implementing such a system.
Source: “Manager’s Tool Kit”
Original Publication: The Conference Board Review
Subjects: Human Resources, Management, Organizational Behavior