A floating holiday is a key benefit offered by employers to the employees. It allows them to take one or two days off per year as it fits their need. Unlike other days of leave allocated, like sick leave or vacation time, floating holidays do not usually carry over to the next year. They are granted to employees when they join the company. You cannot cash out these leaves at the end of the year or when you leave the company.
A floating holiday is a personal day leave, which employees can use for whatever reason they see fit. They need to report the reason for absence as a ‘floating holiday’ when they request time off. As you can see, a floating holiday is a pretty simple concept as it allows workers to take off days without needing to use up time that is allotted for specific purposes. Some of them include Sick Leave, Vacation Leave, Bereavement leave, etc.
Also, See: Leave Policy
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