For those who still have unutilized leave days from 2023, this is for you.
In today’s fast-paced and often stressful work environments, companies are increasingly recognizing the importance of employee well-being. One innovative approach gaining popularity is the implementation of a “Gift a Leave” policy. This unique initiative allows employees to share the gift of time off with their colleagues, fostering a culture of support, camaraderie, and work-life balance.
A Deloitte survey conducted in 2023 uncovered that organizations implement the “Gift a Leave” policy to foster a collaborative and team-oriented culture. This proves advantageous, particularly for new hires facing constraints with their leave balances. The survey, which forms part of the broader Deloitte India Benefits Study, surveyed over 200 companies in sectors ranging from pharmaceuticals and manufacturing to services, technology, financial services, and consumer goods.
The Director of Deloitte India informed ET that the ‘Gift-a-leave policy’ is becoming a distinctive practice among progressive companies. In August 2023, a local unit of BT Group, a UK-based telecommunications company, incorporated this innovative policy as part of its HR policy revamp for India. Additionally, the company introduced a ‘Flexi Bank Holiday’ option this year, permitting all employees in India to tailor their public holidays from a state-gazetted list, excluding mandatory holidays.
Marico is an Indian multinational company who has a ‘Leave Sharing’ initiative where employees assist one another in fulfilling personal and professional obligations.
In response to the challenges posed by the Covid-19 pandemic, Persistent Systems introduced a ‘Donate/Gift Your Leave’ program. Broadening the application of this policy, the company not only facilitates employees in contributing leave (in its monetary equivalent through leave encashment) but also directs the proceeds towards their corporate social responsibility fund, aiding underprivileged segments of society.
In conclusion, the “Gift a Leave” policy represents more than just a leave-sharing initiative; it’s a commitment to creating a workplace where employees feel supported, valued, and empowered to prioritize well-being—both their own and that of their colleagues. Encouraging companies to consider this innovative policy is a step toward cultivating a positive organizational culture and enhancing employee satisfaction.
For further information :-
https://business.outlookindia.com/corporate/companies-allow-employees-to-gift-leaves-to-colleagues
https://boardstewardship.com/gifting-a-leave-to-someone-in-need/
