Floating holidays are a type of leave that employees can use at any stage. They are offered in addition to paid time off, sick, and vacation days. Floating holidays are usually a fixed number of days that do not accrue over time and do not get paid out upon leaving a position. However, this may change according to individual employment contracts.
Floating holidays are given in two scenarios; the first is when there is a public holiday that the employee must work on, so they are given a floating holiday to use on another day of their choice. They may also be granted for holidays that don’t fall on the same day each year, such as Thanksgiving.