My DH gets good vacation time right now, something like 29 days a year (plus 10 holidays). He rarely uses all those days, so while he can carry over the time to the next year, eventually it starts to add up and they will buy the time back from him. So he has lots of time off to vacation but if he doesn’t use it all, eventually he gets paid for that earned time - like a little bonus.
i had co-workers who would 'self bonus' as well. a person (depending on their job classification) could be earning up to 6 weeks of vacation, 3 floating holidays, 50 hours of 'management time off' and 15 sick days. people could cash out up to 1 year's vacation accruals per year so people routinely waited until salaries increased and then did their 'self bonus'.
i have to wonder w/this unlimited concept-how would that work with short term disabilities and fmla. fmla is limited to 12 weeks per year so does this mean an employer offering the unlimited time off is not going to use that limitation b/c i suspect if they tried to w/this policy they could end up with an employment discrimination lawsuit. along the same line-do these employers not offer any kind of short or long term disability insurance for employees that kicks in after so many days b/c again, if they try to terminate someone who is taking 'unlimited paid time off' due to a disability it seems ripe for a discrimination lawsuit.