Poll: What you think of Richard Branson’s ‘unlimited holiday’ policy?

Take as much vacation time as you want, whenever you want. You don’t even have to have your vacation request approved. It sounds too good to be true, right?

Richard Branson, the English billionaire and founder of Virgin Group, is gaining worldwide attention for his latest company policy.

“Flexible working has revolutionized how, where and when we all do our jobs. So, if working nine to five no longer applies, then why should strict annual leave (vacation) policies?” Branson said in his company blog.

In the post, Branson says he learned about a similar “policy-that-isn’t” at the online TV firm Netflix. His daughter told him removing the stipulations around vacation at a company her friend worked at boosted morale, increased productivity and made the team more creative.

READ MORE: Work life balance, job insecurity key mental health factors in the workplace, study suggests

Branson decided to follow suit at Virgin – and if it goes well, he’ll encourage the move at his subsidiary companies.

“It is left to the employee alone to decide if and when he or she feels like taking a few hours a day, a week or a month off,” Branson wrote.

They don’t need to ask for approval, or keep track of days taken away from the office.

“The assumption being that they are only going to do it when they feel 100 per cent comfortable that they and their team are up to date on every project and that their absence will not in any way damage the business – or that matter – their careers,” he said.

Workplaces should focus on the work that’s being done, and the productivity at hand, instead of how many hours were logged, he suggests.

The blog post is called “Why we’re letting Virgin staff take as much holiday as they want.” Read the full post here.

Branson’s unconventional rules aren’t an anomaly these days. Earlier this year, Carlos Slim – a Mexican telecommunications mogul – said he introduced a three-day work week.

READ MORE: Is a condensed, 3-day work week a good idea for work-life balance?

Employees would work longer days, and they’d take a late retirement, but they’d have a better life, he suggested.

“With three work days a week, we would have more time to relax; for quality of life,” Slim said at a business conference in Paraguay, the Financial Times reported.

carmen.chai@globalnews.ca
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