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Correct. Since employees don't accrue vacation hours, companies are not required to carry the equivalent pay on their balance sheet as a liability. It varies st
by scurvy 11y ago
Correct. Since employees don't accrue vacation hours, companies are not required to carry the equivalent pay on their balance sheet as a liability. It varies state by state, but California (where most startups are currently located) does convert this liability to an employee cash out upon leaving the company.
Unlimited vacation means no accrual so no balance sheet hit. It's a sketchy way to save money while effectively hinting that you're not supposed to take vacation. At first, people took unlimited vacation at face value. Now, the industry largely knows that it is industry speak for "2-3 weeks vacation but up to manager discretion."
- drstewart 11y ago>Now, the industry largely knows that it is industry speak for "2-3 weeks vacation but up to manager discretion." Funny, because neither company I've worked for has that unspoken policy. You should come in and dictate the actual culture to us since you know it so well. I don't need to tell you the companies of course, since you're already well acquainted with them obviously.
- parasubvert 11y ago"Unlimited vacation means no accrual so no balance sheet hit." This is true. "Now, the industry largely knows that it is industry speak for "2-3 weeks vacation but up to manager discretion." This is generally false for a certain size of company (> 1000 employees). In my case, 4 weeks is common, it varies.