Unlimited vacation is still a rare employee benefit, but data from job platform Indeed indicates the policy is trending up, at least among the companies that openly advertise it.
Since 2015, the number of job postings touting unlimited vacation nearly tripled, from 450 per million postings to almost 1,300, Fast Company reports.
Tech jobs are six to eight times more likely to offer unlimited vacation when compared against other job postings and is more prevalent at startups.
Some leaders claim to have seen positive results. Nathan Christensen, CEO of MammothHR, decided to test the policy for a year. “Over the course of the year, the policy became one of our employees’ most valued benefits,” he wrote.
On the surface, the offer seems generous and implies a healthy work-life balance. In practice, however, “unlimited vacation” is a misnomer. Employees often take fewer vacation days if their company has an unlimited policy, since there’s no framework for how many days they can—or should—take off.
On top of that, managers can decline to approve time off, especially if there’s an implicit assumption about how much time is appropriate to take. And when they leave the company, employees can’t cash out on the paid time off that they have accrued (which is required by law in a number of states). For workers in their twenties who are more likely to job hop and let vacation time go unused, that can mean foregoing a sizable chunk of cash.
Yet greater numbers of companies are turning to this policy. Read the full story.