They are a part of life, like stinky farts... their own stench doesn't bother them.
HEY!!! When did this become about me?
"I controlled my laughter and simple said "No,I am very busy,so I can't write any code for you". The moment they heard this all the smiling face turned into a sad looking face and one of them farted. So I had to leave the place as soon as possible." - Mr.Prakash One Fine Saturday. 24/04/2004
It all depends on the people you hire and how dedicated they are. I tend to think it would sort of end up like free coffee in the cafe or other free perks. Some people use them, some don't.
There might be a positive side-effect. Think about the most useless, unproductive people you have ever worked with. Would they abuse this?
Maybe this would end up being a productivity booster for your good people, by getting the losers out of the office. The lazy people would be tempted to take more and more time off, eventually leading to their termination for pure lack of performance. Maybe this is actually a honey-trap for the lazy.
As others have pointed out, you'd have to hire people who want to work and fire the lazy people who don't.
After that, this policy will probably result in less vacation time being taken. I know how much vacation I'm allowed, I take a a few days here, a few days there, a week in the summer and then the in December I'm taking vacation just to use it up. Without a set number of vacation days, I probably wouldn't take more off the rest of the year, and I wouldn't feel the need to take vacation in December because of "use it or lose it" policies...
Hardly these are the just the center coords of the Outward part of the postcode.
A far easy method to retrieve a coord of a full postcode is to Geocode the postcode using Google API, Bing API or any other party service.