Concernered about cash flow - Anonymous employee ENSCO Employee Review

From ENSCO, Inc. To our employee concerned with ENSCO’s position on the sale of future leave accruals and cash flow, ENSCO is able to offer this benefit to our employees only because we have a very strong cash position. Unfortunately, many of our employees do not take their accrued leave annually and as a result, have amassed large leave balances. We recognize this is predominantly due to the dedication our people provide to ENSCO so, unlike many employers who apply a “use it or lose it approach”, where unused leave is not paid out, ENSCO continues to pay employees for unused leave balances above a set threshold each year. Two years ago, we also began offering employees the ability to sell future accrued leave (as referenced in the email from HR), in advance, as an added benefit to employees and a reduction of liability on the company balance sheet. Employees who are eligible to sell back future accrued leave already have significant leave balances accrued so they still have ample time to take leave in a given calendar year. For those who opt for this benefit, we hope the extra money they receive can be applied to useful needs, such as home improvements or to take a nice vacation.