What is the definition of a "floating holiday"?

Floating holidays are flexible paid days off which are sometimes granted by employers. Although employees in salaried positions are often granted days off in observance of common religious and civic holidays, there may be employees who do not celebrate the same holidays as the majority of their colleagues.

It is not a legal requirement for employers to allow floating holidays, but it is in the best interest of a growing number of diverse workplaces. A Jewish employee can use a floating holiday to observe Hanukkah if it falls on a different date than Christmas. Otherwise, employees are allowed to use floating holidays for any reason they see fit.