Ben Kirshner is the CEO of Elite SEM, an award-winning digital marketing agency. Elite has also won numerous awards around best places to work. http://www.forbes.com/sites/theyec/2013/11/14/four-ingredients-for-a-winning-company-culture/

Empower your employees to manage their schedules

• I strive to make my employees happier than they would be at other companies or agencies in many ways. But the first thing any employee of Elite would probably tell you about is that our company allows unlimited vacation time, personal days and sick days.  Want to take a two-week trip to India or Tokyo? Or want to take a Friday off to head to Gainesville to see the Gators play on Saturday?
• No problem — as long as all of the work you are responsible for is completed or accounted for, and someone else on your team will be able to cover and is up-to-date on your clients and projects, take as much time off as you want!  This policy has been in place since day one, and remains one of the benefits hires get most excited about.
• Whatever specific policy your company goes with, the bottom line is that you need to empower your employees to own their results, actually increasing productivity and improving morale.