{"id":30478,"date":"2022-07-06T17:48:03","date_gmt":"2022-07-06T12:18:03","guid":{"rendered":"https:\/\/www.techjockey.com\/blog\/?p=30478"},"modified":"2023-08-22T16:52:51","modified_gmt":"2023-08-22T11:22:51","slug":"what-is-floating-holiday","status":"publish","type":"post","link":"https:\/\/www.techjockey.com\/blog\/what-is-floating-holiday","title":{"rendered":"What Is Floating Holiday? Floating Holiday Meaning & Examples"},"content":{"rendered":"\n

Companies provide holidays, vacations, PTOs, and paid leave as significant benefits to employees. While laws mandate most leaves and paid time off, companies voluntarily offer floating holidays to promote better work-life balance, foster cultural integration, and enhance morale.<\/p>\n\n\n\n

However, Floating holidays are a new concept for Indians that brings a lot of confusion around. This article aims to explain to you everything you need to know about Floating Holidays along with its meaning and examples.<\/p>\n\n\n\n

<\/span>What is a Floating Holiday?<\/span><\/h2>\n\n\n\n

A floating holiday is an additional paid day off that employees can use at their discretion. Unlike specific holidays tied to particular days or events, floating holidays are not connected to occasions like Independence Day or Christmas. Instead, employees are provided with a certain number of days at the beginning of the year, which they can use based on their personal needs throughout the year. For instance, an employee might be granted two floating holidays that they can use as they see fit over the course of the year.<\/p>\n\n\n\n

However, many companies do not give their employees a floating holiday at the beginning of the year. Instead, employees can exchange other official holidays, which they don\u2019t want in exchange for floating holidays. For example, an employee can avoid taking a holiday on Diwali and exchange it for any other day as per his\/her choice.<\/p>\n\n\n

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Additionally, floating holidays are also referred to as those official holidays whose dates cannot be determined but fall during a particular time of the year. For Example, the Eid holiday cannot be determined on the exact date.<\/p>\n\n\n\n

While the specifics of how floating holidays may vary from company to company, they typically come with some restrictions. For instance, many organizations require that employees give advance notice before taking a floating holiday so that staffing needs can be addressed. Some companies also restrict a certain time during the year when employees can take their floating holidays.<\/p>\n\n\n\n

Suggested Read: Must-Have Fringe Benefits to Retain Your Employees<\/a><\/strong><\/p>\n\n\n\n

<\/span>What is the Purpose of a Floating Holiday?<\/span><\/h2>\n\n\n\n

The main purpose of providing floating leaves to employees is to give them additional holidays for their needs and interests in addition to paid time off. They can take it to celebrate any cultural\/religious festival or event, focus on their mental health, or just relax at home, the reason could be numerous.<\/p>\n\n\n\n

<\/span>How Is a Floating Holiday Used?<\/span><\/h2>\n\n\n
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A floating holiday can be taken for multiple reasons. Some employees take it to take a day off apart from paid holidays. Moreover, the day off can also be taken by employees for cultural celebrations. Other reasons why employees take floating leave is due to special occasions like a birthday, weddings, family functions, and so on. In a nutshell, an employee can take floating leave for personal or professional reasons or just to relax at home.<\/p>\n\n\n\n

Many organizations allow employees to choose the floater to leave from the company listed cultural, religious, or government holidays. Also, some of them restrict employees from taking leave during the busy month.<\/p>\n\n\n\n

<\/span>Do Companies Have to Provide Floating Holidays?<\/span><\/h2>\n\n\n\n

Organizations in India have no rules or legal requirements mandating the provision of floating leaves to employees. The employer is solely responsible for determining the availability of floating leaves. They can choose whether to grant floating leaves, specify the number that employees can avail, and identify restricted days when these leaves cannot be taken.<\/p>\n\n\n\n

Moreover, the employees can also have the liberty to frame policies for what would happen in a situation when the employees do not take the leaves.<\/p>\n\n\n\n

<\/span>What Should a Company’s Floating Holiday Policy Include?<\/span><\/h2>\n\n\n
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The following information should be included in an organization\u2019s floating holiday policy:<\/p>\n\n\n\n