Acco Brands Europe offers holiday purchase scheme

Acco Brands Europe has launched a holiday purchase scheme for its 500 UK employees to encourage a positive approach to taking holidays among its workforce and to make savings during the recession.

The office supply firm initially piloted the benefit for three months from October to December last year, during which time it was taken up by 10% of staff. This resulted in savings of £37,964 in payroll costs for the company in one quarter.

Employees can now buy between two and 10 extra days’ holiday per year, on top of the standard 25 days’ annual leave they are given. The benefit is offered via salary sacrifice, through which employees save on tax and national insurance contributions (NICs). Acco also makes savings of up to 12.8% on NICs, in addition to cutting payroll costs.

Claire Targonski, European HR compensation and benefits manager at Acco Brands Europe, said the scheme would promote the value of taking holidays at a time when a weak economy may discourage some from doing so. “The months of deduction can be chosen by the individual to spread the balance of the cost over the year, or to avoid any expensive months in their personal financial calendar,” she explained.