Tried to capture the argument in the subject. Feel like companies cut corners by offering this instead of things like continued education, creative comp packages, etc. Also, there have been plenty of studies done to show that employees end up spending less vacation time than employees with explicit budgets. I'm a subscriber of the idea of creating your own schedule / flexible time but the idea of this as a perk seems stupid.
People that are offered this, do you feel like your employer is overcompensating for other areas where your benefits lack? Do you value and utilize it?
I think employees should have dedicated 2 weeks off + “use your head and don’t abuse it” days off for random things (dropping the car off at the shop, being sick, running errands, dealing with kids, etc)
Also I think you shouldn’t have to prove being sick. I think it’s stupid as a standard operating procedure to require a doctors note or proof of a car accident (my previous company needed proof of my car accident because I was 30 mins late)
I think companies should have 4-6 dedicated weeks off. And Fridays.
Even better
At a minimum, at least 1-2 days a month for errands that can only be done during general working hours.
Your argument is that unlimited vacation is a bad thing because...companies could also offer other things?
You can keep clocking in and clocking out if you want, but I'm going to keep my unlimited vacation. If you have unlimited vacation and take fewer vacations, that's on you.
I'm not arguing that its bad... I'm arguing that its a bogus tactic used by larger companies (from what I've seen) offered in their campus recruiting materials or whatever. It should be discounted from the greater comp package.
Example: If one of the custodian banks offered back office people unlimited vacations, they wouldn't have the money to enjoy the time off, able go back to school, or protect their jobs from inevitable turnover. It offers them no "benefit".
In my case they offer all of the above and then some. I'd argue in our specific case, the biggest trade off that I don't have is stock compensation (privately held) but that's just a function of our company and they aren't offering unlimited vacation in place of that.
I value it pretty highly, and I utilize it as much as I can. I enjoy not worrying about whether I have accrued time, tracking my days, etc. That's pretty great. The flexibility I have to take off when needed is great.
It's just another consideration - like anything else in your compensation package.
delete, I'm paid different so not relevant
The bank my GF works for offers unlimited time off and seems to mean it. Most of her coworkers seem to take a few weeks off every year.
She custody side? Most of those require a 2 week hiatus on top of their traditional vaca.
Why is your girlfriend still working if you're a multi millionaire, bro?
FinTech Partners? They're kinda notorious for the unlimited time off
Do most companies actually track this stuff? I’ve always operated under the assumption unless you’re constantly calling out at the last second or taking excessive vacations no one actually cares to see doctors notes or count your vacation days to date.
Yeah I think so. People pay attention at my firm but at a place like MS in Baltimore you could prob drop dead and not be noticed for a few weeks.
Sorry for bashing custody banks in this thread. Just using them as an example for the bad benefits and ultimately bad culture. I'm sure this is going on in other industries too.
Yeah consultancies and law firms have billable hours.
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