Netflix is known for its binge-watching capabilities and unique streaming offerings, but what some people may not know about the streaming giant is that it also provides its employees with a unique perk.
The company offers its employees unlimited paid time off, which is a surprising trend among high-profile firms and startups such as Kronos, Songkick, Glassdoor and the Virgin Group.
This type of policy is seen as beneficial for both employees and employers. Workers get to create a healthier work-life balance, while employers can help reduce workers’ stress, boost their productivity and help them attract and retain talent.
Still, there are many problems associated with unlimited time off. For example, software firm CharlieHR once offered unlimited, fully-paid holidays for all employees, but the policy was scrapped last year by CEO Ben Gateley.
“If you are given 25 days holiday that are yours to take, then you are subconsciously motivated to take them,” said Gateley. “It’s some kind of psychological quirk of ownership — when something belongs to you, then you immediately value it far more highly.”
Additionally, many employees felt guilty about taking too much time off, increasing their overall work-related anxiety. This ends up with workers taking less time off than they would if they had a set 28 days of annual leave.
While some companies have found a way to properly implement this sort of policy, it is not a simple process and may end up being more stressful than necessary.