Unlimited vacation -- how would you like that as a job perk?

While it may seem too good to be true, that's what you get if you work for billionaire Richard Branson.

The unlimited vacation applies to about 160 employees at Virgin Group offices in New York, London, Geneva and Sydney.

Branson says he assumes staff will only take time off if they're up to date with their work.

In theory, the rule should increase productivity and attract talent.

Branson says he was inspired to change the vacation policy by Netflix, which gives its employees unlimited holidays.