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Holiday Exchange Scheme

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Holiday Exchange Scheme from Gemelli Employee Benefits

Encourage employees to enjoy a great British Summer and let your business enjoy the rewards.

Successful businesses recognise that attracting and retaining good employees is not just about the salary offered, it’s about tailoring a package to suit individual needs – and, ideally, in a way that also benefits the company. Now that summer holidays have officially arrived, it’s the time of year when many businesses experience a bit of a slow-down during this seasonally quiet period. So what better time for employees to explore being able to extend their leave or take a few extra days out to really unwind and relax, or even treat themselves – especially when there’s a great British summer of cultural and sporting events just around the corner!

The British Grand Prix, Wimbledon, The Open, The Tour de France (well, it’s not far from Britain) and The Ashes all take place between now and the end of August.  And then there’s the Rugby World Cup to look forward to. Or maybe you’ve always wanted to attend one of the many music / literary / food festivals around the country, experience The Proms, open-air opera and theatre, or merely while away a day walking and picnicking in the beautiful British countryside.

The Gemelli Holiday Exchange Scheme allows you to do this. It gives employees the opportunity to pay for additional annual leave on top of their existing entitlement. Operating on a salary exchange basis the scheme allows extra days to be paid for by the employee over a maximum 12 month period, by having a set amount deducted monthly from their gross salary. This also means that a reduced amount of Tax and National Insurance Contributions is paid, which definitely makes sense.

There are many other benefits for both employer and employee, such as:

Benefits to Employer

  • Attracting and recruiting employees
  • Motivating employees and positively impacting their performance – reducing potential for absenteeism, and engendering better engagement, loyalty and retention
  • Enabling smaller companies to be on a par with larger companies
  • Differentiating you from your competitors
  • Expenditure savings – reducing your payroll spend which also saves Employer’s National Insurance by up to 13.8%

Benefits to Employee

  • Increased wellbeing and achieving a better work-life balance
  • Greater freedom and flexibility – being able to take extra time off when you need it or just to take extra holiday
  • No need to justify why additional leave is required
  • Savings of between 32% and 47% in tax and N.I
  • Spreading the cost of extra days over a 12 month period

It’s not just big companies who are able to offer a Holiday Exchange Employee Benefit Scheme. Gemelli make the whole process extremely straight forward and easy to understand, so that even small businesses with just a few employees can tailor schemes to suit their culture and business objectives. Of course, additional time off doesn’t just have to be spent enjoying favourite pastimes. Holiday Exchange means that there’s the flexibility to increase holiday allowance to cope with the unexpected, or to extend time spent at pre-planned events such as a wedding, a dream holiday, and visiting family abroad.

Summer comes but once a year... so contact us today!

To find out more and discuss how the Holiday Exchange Scheme  could work in the right way for you, contact us here at Gemelli Employee Benefits. Get in touch today on 01280 851113 or email us.  You’ll be amazed at how it can do wonders for both staff and businesses.

Salary Exchange Explained

Want to know what salary exchange is and how it works? Read our Salary Exchange Guide...

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