Holiday trading schemes allow employees to purchase extra annual leave by sacrificing part of their salary in return.
This provides greater freedom and flexibility, and allows them to feel valued and trusted, whilst also saving the employee money on tax and insurance. Employers also benefit from this popular scheme by saving on National Insurance.
Holiday buy back
Employers can also offer annual leave buy back as part of their holiday purchase scheme, where employees are able to sell back unused annual leave entitlement at the end of their annual leave year - as long as it doesn't take them below their statutory holiday requirement.
Our experts will help you build a winning benefits offer.
Why should employers offer holiday exchange?
Employees are looking for benefits that will help protect their work/life balance. Especially in the post-COVID-19 world, the more flexibility you give an employee with their hours, leave and working arrangements, generally the more likely they are to join you, stay with you and engage with you.
