Can anyone share please what take up rates they've experienced for holiday buy and holiday sell along with the demographic data. Where offered, do you do this via a benefits platform or manually, is it restricted to particular locations or job grade? Any information that would help us in our considerations would be fantastic!
Thanks all.
Helen
We have about a 20% take up for selling and about 10% for buying. Our leave year starts on the anniversary of joining, so we set the participation window at 10-6 weeks before the start of the next leave year. Colleagues can sell up to their statutory minimum (so dependent on service/contract between 1-2 weeks). Colleagues can buy up to one week extra holiday via salary sacrifice. We don't have a portal - it is captured in our HRIS/Payroll system (iTrent).
Holiday buy is one of our most popular benefits with around a 50% take-up. We allow the purchase of up to 1 additional week, based on contractual working hours, each year with an annual selection period held in Nov/Dec and selections made being effective from January. Deductions are taken from pay between January and December. Our holiday year is Jan-Dec and selections are made in a 3rd party online portal.
We haven't yet introduced holiday sell but will be doing so this year. Once this is launched we will allow the sale of up to 1 week of leave each year, based on contractual working hours, as long as the statutory minimum is not breached. There will be one selection opportunity each October with the pay-out being made in November in order to keep costs relating to leave within the current year.
Yes, I would say similar to below. Our population is fairly young with average age of 35 and it is by far our most popular benefit, with c10-20% take up each year. We only permit selection once per year for holiday buy and we do not allow holiday sell. We manage this through our benefits portal (third party) to be selected each March, with our holiday year starting in the January.
Hi Helen. I don't have any demographic data but can tell you that in the current year the take up of holiday buy has been 28% and holiday see 4%. This is based on an employee population of just under 10,000. We offer this via our benefits platform as part of our annual window in March and also in a special mid year window in September. It's not restricted to any particular locations or grades but our platform will no allow and purchase if it takes the employee below national minimum wage. Hope that helps Ian