IPD has launched a holiday trading scheme to allow its 200 employees to buy or sell up to three days’ annual leave each year.
The real estate performance analysis firm provides staff with a core 25-day holiday allowance, from which employees can trade days down in return for a cash allowance or buy more. Employees had a two-week window of opportunity in January to take up the benefit.
Those who opted for extra holiday paid for the benefit through a salary sacrifice arrangement, saving on employee tax and national insurance contributions (NICs). IPD saves on employer NICs.
The organisation made the move following a review of its benefits strategy, carried out by Thomsons Online Benefits, during which its total reward statements were moved online in December last year and a new communications strategy was rolled out in a bid to boost employee engagement.
Kelly Smith, finance director at IPD, said: “We needed a solution that would attract the best talent and truly engage our employees.”