CEOs were asked: What is your company’s current vacation policy? More companies are increasingly turning to an open-ended trust system — is this something you have considered?
Our vacation policy is based on length of employment. After significant milestones at the company like 5 and 10 years, the number of vacation days allotted increases. And while it’s not written into our policy, we also usually give extra days off to employees throughout the year around holidays like Thanksgiving, Christmas, New Years and 4th of July, and after the busy tax season as a reward. In terms of an open-ended trust system, it is something management has discussed and considered, but we don’t think we are quite ready to roll out such a policy yet. Since we have a billable hours business model, a flex-vacation policy may make it more difficult for employees to reach their billability goals. However, we have not ruled it out and it could be something that we implement in the near future to appeal to the next generation of workers.
Tony Argiz, chairman, CEO, Morrison, Brown, Argiz & Farra, LLC (MBAF)
The employees in the production portion of the business receive a week vacation per year. They can take as many unpaid days as they want and we are flexible with family emergencies and give them paid accumulated personal time. We work on the open ended trust system with the office staff; they work extra hours to make up for or finish up projects all the time so it evens out in the long run.
Jennifer Cramer, CEO, co-founder, The Spice Lab
We have a set number of vacation days and holidays, but we pride ourselves on being flexible, which includes the ability to work remotely. We encourage our people to travel and take time for themselves. One of the great things about Stantec is that our employees also have the opportunity to travel for work on projects across the globe, allowing them to take in new cultures and experiences.
Adriana Jaegerman, senior principal, managing leader, Stantec
We have had an open vacation policy for senior team members for at least nine years because of the fact that we operate in multiple offices around the world and rely on technology heavily. While it is not an issue today, in the past I would estimate probably half of those entrusted with that freedom abused it in one way or another.
José E. Latour, founding partner, LatourLaw
We have a small team and our vacation policy is one week’s vacation after the first six months and two weeks of vacation after a year of service. After five years, team members have three weeks’ vacation. Because of our size and budget, we could not have an open-ended trust vacation policy as some high tech companies have. We offset the fact that we do not have a liberal vacation policy with the fact that we pay 100 percent of insurance costs for all full-time employees.
Beatrice Louissaint, president, CEO, Florida State Minority Supplier Development Council
My company’s vacation policy is a hybrid of both at the moment. We have not fully transitioned to an open-ended trust system just yet, but as long as the work is getting done, we are extremely flexible with vacation days. I think we will eventually completely move to an open-ended trust system.
Melissa Medina, president, eMerge
Our managers have an open sick leave policy that enables them to stay home with pay, which helps prevent others from getting sick and also seems to shorten the duration of time out. For all staff, we have a very flexible approach to vacation, providing paid time off based on tenure, and also allowing unpaid time off if more time is needed.
Kelly Ramsden, managing partner, Office Edge and Legal Edge
The current vacation policy gives full time employees with less than five years of continual employment the opportunity to earn two weeks’ vacation per year. Employees who hit the five- and 15-year marks of continual employment earn more. Similarly, our current sick leave policy is also set up on accrual basis. Although we have not considered an open-ended trust system, we have been considering implementing a system of paid time off, in which vacation, sick, and personal time are undifferentiated and may be used at the employee’s discretion
Chana Sheldon, executive director, MOCA
THE MIAMI HERALD CEO ROUNDTABLE IS A WEEKLY FEATURE THAT APPEARS IN BUSINESS MONDAY OF THE MIAMI HERALD. Meet the current members of the roundtable.
RECENT QUESTIONS TO THE ROUNDTABLE HAVE INCLUDED:
▪ Too cold? Too hot? Let’s talk workplace temperatures
▪ CEOS: Working remotely is often a great alternative
▪ If the economy falters, local companies are prepared
▪ CEOs consider whether Miami is the ideal spot for a soccer team and stadium
▪ CEOs are planning for climate change and sea-level rise
▪ Efforts to boost low wages may ease affordability crisis
▪ Local and state governments must do more to address affordable housing
▪ Find your passion and own your career path, CEOS tell job seekers
▪ Here’s how CEOs would advise a high school senior class on its last day
▪ South Florida CEOs offer suggestion to address America’s student loan debt
▪ Supervisors often were the greatest influence on CEOs’ careers
▪ CEOs address Miami’s racial wealth gap
▪ CEOs discuss transforming healthcare in America
▪ Is the job market as good as it gets?
▪ CEOs split on encouraging marijuana sales in Florida
▪ Unlocking state funds for affordable housing is the right move, CEOS said
▪ CEOs try to lasso healthcare costs, but more needs to be done
▪ CEOs agree that tax breaks are needed to lure businesses to Florida
▪ Technology led to significant changes in 2018 for most CEOs
▪ What are CEOs doing to attract and retain workers?
▪ Most CEOs say salaries will increase in 2019
▪ Most CEOs are in ‘growth mode’ with plans to hire more
▪ CEOs’ 2019 economic forecast offers differing views
▪ How CEOs are trying to attract ‘Generation Z’
▪ Most CEOs say PortMiami should expand more, without hurting the fragile eco-system
▪ Should financial institutions reach more ‘unbanked’ people?
▪ Tech scene throughout South Florida is building momentum
▪ CEOs discuss their top workforce challenges for 2019
▪ The best gift? Even for the most successful people, life is about more than business
▪ Recession ahead? CEOs divided on whether they see signs of one
▪ CEOs: Amazon’s strong look at Miami for HQ2 made the region look hard at itself
▪ Biggest influence on CEOs’ careers? Most say it was a parent
▪ Jobs available? CEOs look at their companies
▪ CEOs keep an eye on Miami’s cost of living
▪ The key to retaining employees? Start with good pay and benefits
▪ Live-work-play? More employees opt to live closer to workplaces
▪ Some CEOs say they’ve raised wages this year
▪ Here are some issues CEOs hope lawmakers keep top-of-mind this election year
▪ CEOs offer varying opinions on higher education
▪ Local firms are doing their part to be more eco-friendly
▪ CEOs are all smiles thanks to local economic boom
▪ Is work-life balance a myth? CEOs share their thoughts
▪ CEOs help employees stsruggling with long commutes
▪ Despite airline woes, CEOs are not changing traveling habits
▪ CEOs have diverse opinions on Trump’s tariffs and other actions
▪ CEOs feel pressure to keep wages competitive
▪ South Florida CEOs say that Miami can sustain David Beckham’s soccer team
▪ CEOs hope common-sense control on assault rifles happens soon
▪ Will Amazon open HQ2 in Miami? Maybe, maybe not, but city’s profile rises, CEOs say
▪ We have much to learn about public transit from other cities, CEOs say
▪ CEOs: Cuban coffee, flexibility and beach picnics help employees balance job demands
▪ CEOs discuss how to deal with extreme views in the workplace
▪ Extra guards, added security measures protect staff and clients
▪ As automation advances, CEOs say humans are still needed
▪ Holiday parties celebrate employees and the year’s successes
▪ These CEOs have zero tolerance for sexual harassment
▪ Will automation change your job? Yes — and no, CEOs say
▪ How CEOs address hostility in the workplace
▪ Good storm planning can stave off disruptions, CEOs find
▪ Storms highlighted serious local issues, CEOs say
▪ Planning, preparation are keys to disaster recovery, CEOs say
▪ CEOs say students who improve certain skills are better prepared for future jobs
▪ Uncertainty about the Affordable Care Act on the minds of CEOs
▪ In a year of challenges, CEOs took risks, learned and grew
▪ CEOs believe community should be involved in making public schools better
▪ Best bosses we ever had inspired, challenged and cared, say South Florida CEOs
▪ South Florida CEOs try to evaluate the nation’s top CEO: President Trump
▪ CEOs’ advice to college students: Network! Internships! Research!
▪ Affordable housing a cause of concern for CEOs
▪ Communication, cool heads key to avoiding public relations nightmares
▪ Meet the new Miami Herald CEO Roundtable
▪ Ahh, the first job. CEOs learned valuable lessons on the bottom rung
▪ It’s getting harder for employees and CEOs to disconnect while on vacation
▪ Florida’s legislators must act on economy and education, CEOs say
▪ Most CEOs provide paid internships, and everyone benefits
▪ Local firms rich in generational immigrants, CEO say, but deportation efforts worry some
▪ Long hours at the office? CEOs say how they avoid burnout
▪ CEOs prefer balance when dealing with a defiant employee
▪ The most important issue facing South Florida this year? CEOs say it’s traffic
▪ Have you been to Cuba? CEOs discuss business and travel opportunities on the island
▪ CEOs discuss their resolutions for the New Year
▪ CEOs: Trump, ugly politics among the biggest surprises of 2016
▪ CEOs’ top request for Trump’s first 100 days: ‘Unity’
▪ CEOs won’t tolerate ugly comments in the workplace
▪ CEOs assess South Florida’s economy for 2017
▪ Did Obamacare hurt your business? South Florida CEOs respond