it also makes the company look good on paper to a potential buyer. No incurred payments, so they can re-establish pay, let people go in a turn over and not be hit with costs.
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It looks like along with unlimited vacation, we also lose any holidays previously given. They still haven't posted 2017 holiday calendar and when asked about a few weeks ago they said they are still working on it.
Oh no, you are already rated for your amount of unpaid overtime. so chances are, as you take vacation, your efficiency goes down...at the end of the year I can see the group tallying up the highest users and axing them. "If you are gone that long on our dime, then clearly we don't need you. We know you had a choice of employers, thanks for choosing Honeywell."
Easy problem to solve there buddy. Before you leave, take 4 weeks vacation. Then come back to work and announce that you are leaving effective immediately. Joke's on them.
When I leave you better bet I'll take all the vacation, and personal time off I can.
Do you believe the company would do this to benefit an employee? Think it might be a quick accounting trick to get a P&L lift?
There's another downside, too: Unlimited vacation policies usually mean an end to vacation payouts when you leave your job. Companies that provide set numbers of vacation days each year will often pay out any accrued, unused vacation time when an employee leaves (in some states, companies are required by law to do this). But guess what happens with an unlimited vacation policy where there's no set amount of vacation awarded? You don't accrue vacation time, and thus there's nothing to pay out when you leave. That's good for your company because it wipes away the financial liability they would otherwise be carrying, but you might not be too happy about it.
http://money.usnews.com/money/blogs/outside-voices-careers/articles/2016-06-06/unlimited-vacation-sounds-great-heres-the-problem-with-it
One thing you can take to the bank - they ("Leadership") will abuse it to the limit. It's nothing but another benefit takeaway.
Other companies call it permissive vacation. Does not sound like Honeywell to do anything good companies do (e.g. Goggle).
So they don't trust me as a manager to authorize ad hoc work from home but they will trust me to manage all of my employees unlimited vacation??
This does not sound like the typical Honeywell move. They generally like to centralize authority and decision making. Letting managers pretty much set their own vacation policy is unusual for the company
It's called "Umlimited" vacation none in the bank do when you leave no pay for unused. It's up to manager discretion when u take it and they Add PTO days to the three weeks
No more 6 weeks but they won't say that
It will be announced once they determine how to administer it.
What's the change???
I agree. They'll wait till after thanksRIFing to roll it out. Just when you thought morale couldnt get any worse.....
Yes it is. Not sure when HR will make the announcement of all the 2017 changes probably following the RIF if it happens this Q