Unlimited Vacation Pros And Cons

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1. Introduction Unlimited vacation has become a very hot trend among companies seeking to recruit and retain quality employees. While maintaining a balance between personal and professional lives, employees not only can increase their work performance but also will stay with the company longer, due to this benefit. I believe that this will enhance what is currently being offered by our company in this competitive market. As the work and life balance are becoming increasingly blurred, giving employees more freedom over their time off can be an attractive option. A company placing its trust in their employees by offering and empowering their own employees does not go without warrant and can help to achieve a high level of employee satisfaction…show more content…
• Current employee interviews on unlimited vacation. • Employer savings by converting to this new unlimited vacation policy. “MGM Resorts International is a recent convert to unlimited vacation. The company implemented what it calls “flex time” in 2014 for its 3,000-plus managers. According to MGM’s Senior Vice President of Human Resources Michelle DiTondo, it has been “very well received” and there have been “very few issues of people abusing the policy. The majority of our managers, due to the nature of our industry, work long days and holidays. They need to take time off to maintain their productivity” (Project Time Off. page 12). 1.4 Sources and Methods The sources in which were used for background information were to help us understand all views involving the implementation of unlimited vacation. For the purposes of this study, multiple scholarly journals and trade journals were used to compile additional background information. Furthermore, first-hand interviews were conducted with a variety of employees in various roles in the company ranging from executive to those in the field. General questions were asked and answers noted. See Appendix A of the questions…show more content…
• Ensure that the time accrued by current employees and ensuring that the “legacy” employees are compensated as of the time the new policy took effect. • Require all locations to have a backup /cross training plan in place for employees/floaters. 4. Findings and discussion It was determined that one of the top benefits of attracting a new candidate and/or retaining a current employee is the benefits in which a company offers. On an average, the increase in turnover rates in the residential vs. the retail/commercial industry is higher than anticipated, mainly due to a tight housing market and reduced compensation. The National Multi Housing Council revealed that an employee is more likely to leave the apartment property management field of 36.1 percent, while the turnover rate of a maintenance technician was about 43.4 percent. In comparison, the retail/commercial industry averaged around 27 percent (Beach. 2018). The aforementioned statistic places a question mark on the overall company’s morale, communication, and

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