Bank Holiday cost to businesses
Discussion
Our contracts say 8 paid bank holidays, but of course we paid the 9th and now faced with a 10th.
Do all you who run businesses just accept it as a cost of keeping everyone happy?
As a small company we'd recently agreed this year's bonus payments - and we're employee owned so these are tax free (most choose to take closer to Christmas). We run a tight ship as still paying the founders for the company. Genuinely I'm looking at pinching £££ from their tax-free bonuses to cover a paid day-off (with tax/NI/pensions etc).
Do all you who run businesses just accept it as a cost of keeping everyone happy?
As a small company we'd recently agreed this year's bonus payments - and we're employee owned so these are tax free (most choose to take closer to Christmas). We run a tight ship as still paying the founders for the company. Genuinely I'm looking at pinching £££ from their tax-free bonuses to cover a paid day-off (with tax/NI/pensions etc).
Pistom said:
We wouldn't consider not paying it. Imagine the bad press if you didn't pay this one.
I'd imagine if the staff didn't get the day, or it was paid out of their bonus you'd lose way more than a day in productivity out of them. Regardless of the reason for the additional bank holiday, its a bit of a scrooge thing to do, not giving it paid. Its one dayIs it the sort of business where the lost time could be made up by a week or twos additional productivity? If so going down the lines of it will be a paid day off but you would appreciate their help to get orders/work etc caught up on over the next couple of weeks could be a happy balance?
If it’s not the sort of business that can catch up then ignore it all!
If it’s not the sort of business that can catch up then ignore it all!
I think there are too many bank holidays, but of course you can't reduce them without starting a riot. Pity because we need all the productivity we can get. Paying people not to work has never made sense to me. But then, I've been self-employed most of my life, where if you do no work you earn nothing.
As for the Queen's funeral, I expect most people wouldn't be doing much anyway so yes, they may as well have that day off and watch it on the TV.
As for the Queen's funeral, I expect most people wouldn't be doing much anyway so yes, they may as well have that day off and watch it on the TV.
Re: "additional costs to business" it depends on what people do.
For example if Asda closes for the day then people will either come the day before or the day after to do their shopping (a very small percentage might go to the petrol station but that's it). OTOH if McDonald's closes then that's a day's worth of profits lost. However most of their staff are employed on variable hours so they would simply not rota anybody in on that day.
I work in Finance - having the day off simply means I've got to get my work done in less time. in practice I'll just carry on working from home.
For example if Asda closes for the day then people will either come the day before or the day after to do their shopping (a very small percentage might go to the petrol station but that's it). OTOH if McDonald's closes then that's a day's worth of profits lost. However most of their staff are employed on variable hours so they would simply not rota anybody in on that day.
I work in Finance - having the day off simply means I've got to get my work done in less time. in practice I'll just carry on working from home.
It will make no difference to me as I’ll be part way through a motorcycle trip in the Alps with my business partner, so neither of us are at work anyway.
Having to swallow an extra days paid leave for staff is a significant cost. Mine is a consultancy business so the tasks not done that day will be done either before or after, so we’ll give them the day off. That’s not the case for every business though and some will suffer.
Having to swallow an extra days paid leave for staff is a significant cost. Mine is a consultancy business so the tasks not done that day will be done either before or after, so we’ll give them the day off. That’s not the case for every business though and some will suffer.
Simpo Two said:
I think there are too many bank holidays, but of course you can't reduce them without starting a riot. Pity because we need all the productivity we can get. Paying people not to work has never made sense to me. But then, I've been self-employed most of my life, where if you do no work you earn nothing.
As for the Queen's funeral, I expect most people wouldn't be doing much anyway so yes, they may as well have that day off and watch it on the TV.
forgetting the additional bank holiday for a minute. Do you think employed people shouldn't get paid holiday? Its pretty well known that holidays and days off improve productivity. I work self employed and self employed and always make sure I get plenty of leave, including my self employed work, its good for you. As for the Queen's funeral, I expect most people wouldn't be doing much anyway so yes, they may as well have that day off and watch it on the TV.
Our contracts don’t mention bank holiday at all. If employees want the day off they have to book it off like any other day. They of course get the holiday pay but it counts as one of the 28.
If they don’t book it off, it’s usually dead and as everyone works at home it’s close to a holiday. But they are expected to be available in theory. So in practice bank holidays may as well not exist.
If they don’t book it off, it’s usually dead and as everyone works at home it’s close to a holiday. But they are expected to be available in theory. So in practice bank holidays may as well not exist.
Edited by lizardbrain on Saturday 10th September 20:19
22 said:
You're all absolutely right of course. I've chilled out a bit now 
We'll pay it and it will come with a "let's knuckle down" chat.
I know from other threads in these parts that some businesses are really struggling and it is an extra, unexpected cost.
If your business pays tax, and that tax bill is several times the wage cost for this day, it costs you nothing and I dare say you treat company money like your own. We'll pay it and it will come with a "let's knuckle down" chat.I know from other threads in these parts that some businesses are really struggling and it is an extra, unexpected cost.
If you are not in this position, I'd be concerned as an employee of yours and take this as a time to find better security
lizardbrain said:
Our contracts don’t mention bank holiday at all. If employees want the day off they have to book it off like any other day. They of course get the holiday pay but it counts as one of the 28.
Will they get an extra day with the new bank holiday? We've mooted this before and it's down to be properly discussed. Possibly a hybrid of the idea as the Christmas/New Year holidays fall in a period of 'shutdown'. The others would add 5 days to workers' annual leave and, as others have mentioned, the rush of bank holidays in the spring is a nuisance.
Silvanus said:
forgetting the additional bank holiday for a minute. Do you think employed people shouldn't get paid holiday? Its pretty well known that holidays and days off improve productivity. I work self employed and self employed and always make sure I get plenty of leave, including my self employed work, its good for you.
It just depends how you slice the pie. You can imagine you're paid for 365 days a year and have 'paid holidays', or that you're paid a bit more per day for 320 but not the other 45. Adds up to the same.If holidays improve productivity, at what point do the wheels come off the wagon?
We've become accustomed to holidays, perhaps too much so. What is it now? 2/7ths of the year plus 4-6 weeks plus bank holidays?
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