Employees at Xerox can buy extra vacation time through a payroll deduction. Instead of paying for the extra vacation time all at once, employees can make weekly or monthly fixed-rate installments through payroll deductions.
Xerox started the vacation benefit in January after a series of employee surveys revealed workers wanted more time off—and were willing to pay for it. In its first year, 10% to 15% of Xerox’s 58,100 worldwide employees participated.
“The message people are sending us back is that they value the time more than the money,” Xerox Director of Benefits Larry Becker says.
Becker says the benefit has been a morale-booster. “It’s about the employee satisfaction,” he says. “When you add it all up at the end of the day … it’s a net positive on the virtual balance sheet.”
Contact: Larry Becker, benefits director, at email@example.com.