As I enter the 2016 Holidays into the system I realized that setting a default only works if you have one company. In our case, we have offices in the US and India. The indian holidays are different than the US ones for obvious reasons. What I propose would be to have defaults linked to company. So when creating a holiday list, select which company it belongs to, that way the correct users will be auto assigned to the correct list of holidays for accurate calculation in time off.
I can submit as a PR in git if needed, thanks!