Holidays for cash

Spike560

Spike560

Spike560

Associate
Joined
12 Jun 2005
Posts
239
Hi all :)

I am wondering as to people's different experiences with this and this question is directed to people on a salary rather than annual pay.

Are you able to exchange your set annual holidays (say 25 days) for extra wages?

I just want to know how this differs accross a range of different companies!

Thanks
 
We sort of can, if at the end of the year we still have holiday left we can sell them back at a normal days wage. This is only allowed if we have had the statutory amount of days holiday already taken for the year or we would be braking the law.

We are smallish company, 30 people working in the manufacturing sector.
 
I work for an IT Company that sits in the middle of the sender and receiver of many different types of online communication and they allow you to swap 5 of your days for tax free cash based on your daily wage over the year.
 
Thanks for the replies people. Basically I've been told by HR that I cannot claim any cash compensation for holidays not used and I just wanted to see if this was the norm!
 
Spike560 said:
Thanks for the replies people. Basically I've been told by HR that I cannot claim any cash compensation for holidays not used and I just wanted to see if this was the norm!
Click to expand...

that's my experience i'm afraid, use them or lose them! unless you leave and have holiday owing in which case they can pay you for it or you can take it.
 
Well I can't get money for them, or carry them over. Our (Australian) company year runs July to June which can get confusing at times!

PK!
 
Spike560 said:
Thanks for the replies people. Basically I've been told by HR that I cannot claim any cash compensation for holidays not used and I just wanted to see if this was the norm!
Click to expand...

From what i recall you can claim compensation if the company will not allow you to take the remainder of your holidays for whatever reason. For example working to a tight project deadline where you are required to be in every day for the final month of your work year then it is unfair to force you to lose your holidays if HR give you the ultimatum of 'use them or lose them' and your Boss says 'if you use them you lose your job'.
 
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We can buy or sell up to 5 days a year. We can also carry over 5. I doubt that's the norm though.

I always use all mine up through. No point wasting them. :)
 
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