What the Heck Is a Floating Holiday?

No matter where you sit on the social or working rung of the corporate ladder, as an employee of a business, you probably work exceptionally hard. There may be days when you feel like you could crush your targets for the month on just that day, and there are other days when you feel like you couldn’t do one more report or piece of work for the company.

As time goes on, and you continue to work harder, the latter of these two scenarios is much more likely. For this exact reason, paid time off and holidays were written as a basic right for workers. If you are a worker, this is probably your favorite part of the job, and we can all see why.

However, there is something to consider with holidays, a particular term that makes the rounds at the office occasionally: a floating holiday. Not many people have heard of it, and even bosses sometimes puzzle and sit questioning exactly what it is. Well, fear not, for today, we will look at the term floating holiday and why you should pay attention to what it is.

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What Is a Floating Holiday?

A floating holiday is a type of vacation you can take from your job at any point in the year. It sounds simple, doesn’t it? But there’s a lot of confusion around floating holidays in the workplace. To make things clear, here’s a quick rundown of what a floating holiday is, what it’s not, and how to use it.

A floating holiday is when you take time off from your job whenever you want and in addition to the regular holidays that are offered. It is called a floating holiday, because it is not normally taken on the same day every year, instead it floats between different days. For example, an employee may want to take a day off in October one year, but want a day off in June the next.

Often, a floating holiday is offered in substitution to a public holiday that normally the employee would get off. In this exchange, the employer will offer any other day of the year as paid time off, except that one public holiday.

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Are Federal Holidays Floating Holidays?

No, not really. Federal holidays are days in which federal offices are closed, and federal workers get the day off. Many public and private businesses also do this, making the holiday seem public, but other businesses do not. Labor Day and Memorial Day are good examples of federal holidays.

A floating holiday is not a federal holiday for several reasons. The first is that federal holidays happen on the same days every year, whereas floating holidays do not. The second is that a federal holiday is mandatory for all federal employees, whereas a floating holiday is an agreement reached between an employee and the company they work for.

There are a few other reasons why a floating holiday is not a federal holiday, but these are the main and most prudent ones.

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What Is the Difference Between a Floating Holiday and Normal PTO?

A floating holiday is different from regular Paid Time Off for a couple of reasons. For starters, floating holidays are often offered as a bonus to PTO, rather than as part of a package deal with PTO. This means that while all other PTO is paid time off, a floating holiday does not have to be paid at all and can just be taken as unpaid leave.

PTO is also most commonly accrued throughout the year and continues to grow the more time you spend with the company, whereas floating holidays are most commonly a set amount that is decided when you join. This means that you only get a set amount of floating holidays throughout the year, whereas PTO increases incrementally.

Lastly, there are more restrictions to PTO. PTO is normally taken as vacation or sick leave, therefore you have to manage other employee's sick leave or vacation time to make sure that not too many people’s overlap for vacations and that employees are covered when they are sick.

Floating holidays are taken by employees, often in exchange for other days that they have been asked to work. Since these days are usually public holidays, the employee can dictate when they will have their floating holiday with no strings attached.

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What Holidays Are Employees Entitled To?

Every holiday is different, and it’s up to your employer what days you can take off. Many employers will list off the federal or public holidays when you sign your contract, but make sure that the federal ones are in your contract if it is mentioned.

Realistically, the only holidays that an employee is guaranteed is the one in a contract and the ones legally required by the government for companies to offer. Things like floating holidays or federal holidays are not legally required or are only legally required in certain companies.

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Are Employers Required to Offer Floating Holidays?

No. Companies are not required to offer floating holidays as standard, and Managers have the option to give employees a floating holiday or not. But, employees are also not required to offer their services in exchange for floating holidays.

Some companies choose to offer employees floating holidays, however, this is not required by law. Some employers choose to offer a floating holiday or two a year because they are great tools for managing workflow and managing people’s time off. This usually comes down to management discretion, though. Every company is different, and you will have to do some digging to find out if your company offers floating holidays. You can always try to ask your manager or HR if they know.

Conclusion

If you've ever thought about taking a floating holiday, you're not alone. Many people wonder what a floating holiday is and whether they are entitled to one, and while floating holidays might sound appealing, it's important to understand what they are and how to best use them. As such, look into your holiday entitlement and see whether you can claim a floating holiday, before confronting your boss about it.

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