Floating holidays are the shit in my workplace, because like other holidays (and unlike vacation), they count as time worked for overtime calculations.

I work in municipal government, so frequently have to go to after-hours meetings for things like City Council, Planning and Zoning, Board of Adjustment, Open Houses, etc. The way things work normally is that if I take time off, it keeps me from being able to accrue OT that week.

For instance, if I take Monday off, work the rest of the week, and work 4 hours for a Council meeting on Tuesday and 4 hours for an open house on Wednesday, it would be calculated as 40 hours worked and I just wouldn’t use any of my vacation time.

But for holidays and floating holidays it counts as time worked for purposes of OT, so with the same working scenario I’d have get the 1.5x OT bump for the night meetings instead of a 1x vacation time credit. That’s 4 more hours of pay I earn for the same amount of time worked.