The Monday before May 24th is a holiday in Canada, named for Queen Victoria, and has been celebrated since 1845. This is not a holiday that requires family gatherings or the exchange of presents. Many people consider it to be the kick off for summer. Lots of people go camping and generally try to spend some time outside.
Victoria Day is a federal holiday, which means that federal employees will be paid that day without the burden of coming to work. Some provinces in Canada also recognize Victoria Day as a holiday. It is not what we call a statutory holiday so there are employers who do not pay their employees if the offices are closed and there are workplaces which are open for business.
Our office is closed on Monday and all of our staff members are on salary so they will be paid. As an employer I have never seen the point of closing the office on a holiday, or snow day and not paying the employees. I believe that the amount of money one would save in this manner is not worth the negative impact, that being such a cheapskate would have on the morale of your employees.
Employees have many ways to undermine an organization if they do not feel valued. Examples abound but here is the simplest — an employee can be at work but not actually accomplishing anything.
Employees who feel that management is disrespecting them will return the favour.