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Richard Branson Says Unlimited Vacation Time Is a Must for Bosses and Employees

Sir Richard Branson speaks at a conference
Sir Richard Branson speaks at a conference
  • Among private industry workers, Americans average 15 paid vacation days per year after five years on the job.

  • About a quarter of U.S. private industry workers did not have access to paid time off in March 2017.

  • In some European countries, 25 days or more of paid time off is required.

Americans look forward to an annual vacation just like everyone else. But workers in the U.S. have a low number of paid vacation days compared with other countries with advanced economies. As of March 2017, private industry workers earned 15 paid vacation days on average after five years on the job, according to the Bureau of Labor Statistics. Meanwhile, nearly a quarter of private industry workers got no paid vacation days at all.

By contrast, workers in the United Kingdom are guaranteed 28 vacation days per year, plus nine annual paid holidays. In France and Spain, 36 days off are guaranteed.

Related: This Is How Many Vacation Days Americans Are Giving Up

Why Employees Should Have Unlimited Paid Vacation Time

Richard Branson, billionaire founder of Virgin Group, said this is “something of a disgrace,” and thinks that employees should have as much vacation time as they want. Branson encourages the companies in his conglomerate to provide “indefinite holiday time, paid.” Branson made his remarks at the Qualtrics X4 Experience Management Summit in Salt Lake City, Utah, on March 6.

American executives might be concerned that employees would abuse an unlimited vacation policy, but the entrepreneur believes that loyal employees would respect it. Employees who are treated this way, Branson said, will “give 100 percent back” because they respect their employers. “How awful to work for a company that doesn’t have massive loyalty from the people who work there,” Branson said.

Don’t Miss: Walmart Now Pays You to Go to College, and 30 More Top Company Perks

American Companies With Unlimited Vacation

With unemployment low and top talent at a premium, unlimited vacation time could be the perk that helps companies secure the employees they need. The number of unemployed persons per job opening was 0.9 in December 2018, according to the Bureau of Labor Statistics. And benefits can be a key way to attract new hires. In fact, almost 80 percent of workers said they would rather get more benefits than a pay increase, according to a Glassdoor survey.

Some companies in the U.S. are jumping on the unlimited vacation bandwagon. The following companies are among those that offer unlimited paid time off, according to Glassdoor:

  • Dropbox

  • GitHub

  • HubSpot

  • KeepTruckin

  • Workday

Glassdoor itself also offers unlimited PTO.

Keep reading to see companies that offer amazing employee benefits — and don’t require a degree.

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This article originally appeared on GOBankingRates.com: Richard Branson Says Unlimited Vacation Time Is a Must for Bosses and Employees