Branson, founder of Virgin Group announced that his staff comprising of 170 employees could "take off whenever they want for as long as they want."
The employees do not need to ask for approval or even say when they plan to return, all provided that their work in the company is not compromised.
Branson stated that he was inspired by a vacation policy of online video streaming company Netflix.
Netflix reportedly experienced an increase in employee morale, creativity and productivity following the implementation of its innovative vacation policy.
According to the vacation policy, employees can take an unlimited day off without their managers counting the days when they are out of the office.
The employees can take a leave for a few hours, days, weeks, or even a month as long as they are not undermining their work and their careers in the company.
The "Reference Guide on Freedom and Responsibility Culture" in the "Netflix Initiative" emphasizes on "what people get done, not on how many hours or days worked. Just as we don't have a nine-to-five policy, we don't need a vacation policy."
Virgin United States and Virgin United Kingdom will soon be employing the "unlimited vacation policy" followed by Netflix, according to Branson.
The company is reportedly veering away from the outdated work policies and gearing towards a more flexible vacation policy to encourage innovation and creativity in the company.
If all goes well, Virgin will employ the new vacation policies to other subsidiaries around the world.
Virgin Group has over 50,000 employees across the globe and operates in more than 50 countries.
Virgin started as a record shop founded by Richard Branson and Nik Powell. The brand name originates from Branson and Powell considering themselves as virgins in the business.
Now, Virgin Group Ltd. grew to a business conglomerate involving 400 companies around the world.
Virgin is British multinational company with businesses in the travel, entertainment, health care, food, drink, media and telecommunications.
