Holidays are a time for relaxation and celebration. A holiday is a period set aside by law or custom, where normal daily activities, particularly work or school including church, are either suspended or completely reduced. In general, holidays are meant to let people celebrate or honor an occasion or belief of particular cultural or historical importance. People also use holidays to get away from the demands of the daily grind. In most of the cases, however, it is only the close family members or friends that take part in such celebrations.
There are three basic types of holidays: paid holidays, honor days, and unpaid holidays, other than federal holidays, which are basically holidays for festival celebrations. A few worldwide know festivals for which employees get holidays are Thanksgiving, Christmas, and New Year, along with national celebrations like Independence Day, Labor Day, etc. During these holidays, if an employer is warmhearted, they may offer employees goodies, discount coupons, and another office gifts like individually wrapped biscuits, sweets, and chocolates.
Paid holidays, as the name suggests, are holidays that are paid for. In other words, an employee is entitled to this certain amount every year, regardless of his performance. This amount is normally equal to about 40% of the employee’s normal salary, subject to inflation.
Honor days and unpaid time offs are not paid holidays. These are scheduled to leave options that are normally granted to employees on behalf of their employers. If the employer has a legitimate reason for extending these particular options, then these will normally be granted free of charge. Normally, these employer-paid holidays do not have any negative impact on the employee’s wages, provided that he takes them with complete satisfaction.
Unpaid time offs are also called vacation leave options. Vacation or paid holidays are typically extended periods of time during which an employee can take off from work. He is entitled to this leave, even if he is not planning to return to work after the holidays. Many companies, however, may opt for holidays, which last for a number of days rather than a single paid time off. This kind of holiday is normally very expensive.
Holiday bonuses are also sometimes given to employees on account of their good performance while working. Scheduling different types of holidays; fixing off dates; approving holidays; and giving out holiday bonuses; all of this can be made easier with the use of an Absence management software like Timetastic, which many companies may make use of. Sometimes, the company may also choose to give an employee a bonus for voluntarily choosing a particular holiday instead of working during a holiday. It is, however, important that the employee realizes that he will be receiving this money even if he is not intending to use it for taking a break. All bonuses are ultimately based on the profit of the company and not on the satisfaction of the employees.
Most countries make special provisions for their workers on their holidays. All these employers give holiday premium insurance to their employees. This insurance is meant to cover the cost of travelling during holidays. In most cases, the period covered is one week in all. The premium amount of these policies covers the expenses such as: hotel accommodation, meals, travel insurance, car rental, and other necessary expenses incurred during holidays.