The answers and stories are vast and include success stories resulting in break-throughs but also include stories from companies that experience a complete break-down. Why the range of answers? Because all of them are right and wrong at the same time.
The truth is, an unlimited vacation policy is not a one size fits all proposition. Just like any company policy or initiative, it all depends on the goal of the company and how their leadership interacts with employees. Most leaders pursue an unlimited vacation policy for one reason, they hope it will make their team more productive and more creative. But, do we even have enough information about how creativity works to control it? No.
Focusing on creativity enhancing policies tends to take a priority over people, and this approach is always foolish. In an effort to get more ideas out of his staff, a boss may implement an unlimited vacation policy, but if his employees don't connect with him, it won't do a thing except hurt the company.
Instead, leaders should first focus on the unique team they have in place. Who are they and what makes them tick. The great leaders customize their work environment and policies around the team they hired and the objectives they are focused on. They put people over company policies. If you listen to your team the answers you come up with together may shock you and likely have the key you were looking for to truly inspire their creativity and motivation.
As you can imagine the keys to motivation and creativity are likely diverse. Each company probably has a very different approach, ranging from unlimited vacation policies, new furniture, flexible open work space, work-from-home, or other fun perks. This is exactly why there are thousands of different gimmicky tips on how to inspire creativity. The most important thing is that you listen, care about and work with the very team you trust to bring success to your company.
Unlimited Vacation Policy: http://smallbiztrends.com/2013/11/unlimited-vacation-policy.html
Flexible Open Work Space: http://www.ladowntownnews.com/opinion/don-t-get-too-comfortable-in-your-cozy-corner-office/article_08630b82-48d4-11e3-90ec-0019bb2963f4.html