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A floating holiday is a paid day off of work that substitutes the date of another public holiday or vacation day. Many employers choose to adopt floating holidays, and there are a couple of ways to do this. Some companies adopt a floating holiday that is designated by the company, while others provide a floating holiday for the employees to use whenever they choose.
Floating holidays apply to employees whose employers recognize holiday pay on a flexible schedule.
Summary of requirements
Company designation. An employer might adopt a floating holiday that is designated on particular days chosen by the company. Essentially, this is no different from any other holiday. For instance, many employers observe New Year’s Day, but it may occur on a Thursday.
Therefore, the company might designate January 2nd (Friday) as a floating holiday. In this case, the holiday policy can simply list the “regular” holidays and indicate that the company had adopted a floating holiday to be designated by the company.
For example, the company might list its holidays (New Year’s Day, Memorial Day, Independence Day, Labor Day, and so on) and simply add “Floating Holiday as needed, to be designated at the company’s sole discretion.”
In some cases, a floating holiday may be provided to employees after they are scheduled to work on a particular holiday (if the business is open on holidays). In situations where a floating holiday is provided to “replace” a working holiday, the provisions for use should once again be described in the holiday policy. For instance, the company might allow the employee to schedule the floating holiday on a particular day (just like a vacation day) and might even allow the floating holiday to be taken on days which might otherwise be denied a vacation day.
For example, if vacation days are scheduled by seniority, and there are already other employees approved for vacation on a particular day, the company might still allow the floating holiday to “trump” the seniority schedule. The employer would need to determine if the company can work with fewer staff members, or if someone with more seniority would be “bumped” to honor the floating holiday.
Alternatively, the company might reserve the right to designate a specific day off for the employee. In this case, it would be handled similarly to a company-designated floating holiday, as described above.
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