Is Veterans Day Holiday Pay?
Contents
Introduction
Veterans Day, celebrated on November 11th, is a federal holiday in the United States that honors the men and women who have served in the United States Armed Forces. As a holiday, it is often met with questions about whether it is considered a paid holiday, and whether employees will receive holiday pay. In this article, we will provide a direct answer to this question and explore the implications for employees and employers.
Is Veterans Day Holiday Pay?
The Short Answer: Yes, Veterans Day is a federal holiday and many employers consider it a paid holiday. However, this is not always the case, and it depends on the employer’s policies and collective bargaining agreements.
The Long Answer: To understand whether Veterans Day is considered a paid holiday, it is essential to know that federal holidays are a creation of federal law and are not mandatory for all employers. While the Uniformed Services Employment and Reemployment Rights Act (USERRA) requires that employers provide certain protections to employees who are members of the military, it does not necessarily require that employers provide paid holidays for federal holidays.
However, many employers, especially those in the private sector, may choose to observe Veterans Day as a paid holiday in recognition of the importance of the holiday and to attract and retain employees who value this benefit. A survey by the Society for Human Resource Management (SHRM) found that 64% of employers observed Veterans Day as a paid holiday in 2020.
Certain Industries and Employees More Likely to Receive Holiday Pay
• Government Employees: Government employees, including those working for federal, state, and local governments, typically receive paid holidays for federal holidays, including Veterans Day.
• Federal Contractors: Federal contractors who work on government contracts may be required to observe Veterans Day as a paid holiday as part of their contract agreement.
• Unionized Employees: Employees who are part of a union or have a collective bargaining agreement (CBA) that includes paid holidays for Veterans Day are more likely to receive holiday pay.
• Healthcare and Transportation Industries: Healthcare and transportation industries, such as hospitals, nursing homes, and transportation companies, are more likely to observe Veterans Day as a paid holiday due to the critical nature of their services.
Employer Policies and Variations
While many employers choose to observe Veterans Day as a paid holiday, there are variations in employer policies and practices. Some employers may:
• Choose not to observe Veterans Day as a paid holiday: Employers with limited budgets or those that do not have a tradition of observing Veterans Day may choose not to provide holiday pay for this day.
• Offer a substitute holiday: Employers may offer a substitute holiday on a different day or offer a floating holiday that employees can use at their discretion.
• Provide alternative compensation: Employers may offer alternative compensation, such as extra time off or comp time, instead of paying employees for Veterans Day.
• Have varying pay policies for different employees: Employers may have different pay policies for different types of employees, such as hourly versus salaried employees, or employees with different levels of seniority or job classifications.
Conclusion
In conclusion, Veterans Day is a federal holiday that is observed by many employers as a paid holiday. However, this is not always the case, and it depends on the employer’s policies and collective bargaining agreements. To determine whether Veterans Day is a paid holiday for an employee, it is essential to review the employer’s policies and procedures.
