Your organization may offer you the option to buy additional vacation time or sell some of your vacation entitlement back as an employment benefit.
How the process of buying or selling vacation time is managed varies between organizations. For example, you may be able to submit a request in a benefits management system, or you may need to fill in a form.
When your request is processed, your HR team needs to adjust your vacation balance:
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If you sell vacation time, the sold amount is removed from your entitlement.
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If you buy vacation time, the bought amount is added to your balance. Bought vacation can either be added to your usual vacation balance on top of your entitlement, or as a separate pot. If the bought vacation is separated into its own balance, it may have its own carry over policy. Refer to your organization's policies for more information.
When the request is processed, information is shared with payroll to:
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Pay you back for the vacation you have sold. Refer to your organization's policies for more information on how the payments are made.
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Deduct the cost of your bought vacation from your pay. Refer to your organization's policies for more information on how the deductions are applied.