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

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

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How does Holiday Exchange work?

You are allowing your employees to either buy or sell a number of days of their holiday allocation. 

Holiday buyback example
If an employee’s 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 employee’s 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 an increase in their salary to the value of the number of days holiday they have sold. Please note that holiday exchange cannot be used to allow employees to reduce their holiday allowance below the statutory minimum.

  • 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)

Often reduces unauthorised absenteeism

  • Employees who choose to take additional holiday may be more productive
  • 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 and holiday cover

Speak to an advisor today

Speak to an advisor today

Cycle to Work Scheme

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First Floor, Dale House, Tiviot Dale, Stockport SK1 1TA

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