As it is still a hot topic of discussion, we thought it was time we weighed in on Virgin’s interesting new holiday policy or should we say lack of a holiday policy. This new strategy has been rolled out to a small team of Richard Branson’s employees and it allows them to decide when they take holiday, and how much of it they take.
By placing this responsibility with the employees, Virgin is demonstrating that it trusts them to make this decision for themselves. Having a good work-life balance can help to empower and motivate employees so perhaps the policy will increase the efficiency and quality of their work overall.
But is it fool-proof? There has been some scepticism over how well this policy will work, what if people take too much holiday and it affects the quality of their work? Could this have a detrimental effect on the company overall? Well the chances are, employees that take advantage and in turn damage the results of their work are doing themselves a great disservice. They risk damaging their reputation in the company and subsequently, their careers. So perhaps the right people can be trusted to control their own holiday allowances effectively, if they are motivated towards achieving good results and take pride in their work.
This is certainly an exciting new development and like most new ideas, the proof will be in the pudding. We will be interested to see if the results of this venture are positive enough for Mr Branson to encourage the policy to be rolled out to further subsidiaries. Could this be the start of the age of empowerment of employees? Will the future see more responsibility being given to the workforce and could this in turn mean happier employees and better results?
In the fight for the best talent, this could be an interesting way to boost your reputation as an employer. For more tips have a look at our article: How to get the best candidates to work for you.
What do you think of Virgin’s new holiday policy, would you and your company benefit from it?
For more information on Virgin's holiday policy read here.