Take Your Vacation Time
It appears there is a price on unused vacation time in the United States. A WSJ.com article reveals that “Americans are throwing away $52.4 billion every year because they won’t take time off from work.” That is not a number to sneer at.
The article goes on to highlight a recent study on vacation time conducted by Oxford Economics, an economic analysis firm. Let’s explore what they found out about our collective reluctance to go on vacation:
- Results in our own personal burnout and reduced productivity at work
- Affects a company’s financial results because it has to accumulate employee vacation time as a liability. The study shows that U.S. businesses have $224 billion in liabilities based on employee vacation time, not including sick or personal leave
- The resulting liability also means many companies must be prepared to “pay out vacations if employees retire or leave”
- While “most unused vacation days are carried over for future time off or payout when an employee leaves,” use it or lose it policies and expiration dates on accumulated vacation days have resulted in employees forfeiting approximately $52.4 billion in earned benefits each year
Next question: What are businesses doing to encourage employees to take time off? They are in fact paying their employees to take vacations.
- Research firm Rand Corporation “pays eligible employees 3% of their monthly base salary, in addition to their regular pay, for each vacation day taken; if employees take all 20 vacation days during the year, they receive an additional 5% of annual salary,” the firm says.
- Software company FullContact “offers an extra $7,500 stipend to take vacations. ‘You must be off the grid, no emails, no calling work, absolutely no work,’ the company says on its career and benefits site.”
- Software firm HubSpot, Inc. “offers an unlimited vacation policy, and encourages employees to take at least two weeks off, a spokeswoman says. A tiny percentage of firms offer unlimited vacation policies, in which unused vacation days aren’t counted as a liability,” according to the Society for Human Resource Management.
The moral of the story: take your vacation time – it’s good for you and good for your company.
Take Your Vacation in Pismo Beach
Are you convinced you should be taking your vacation time? Let’s explore where you should go. We suggest Pismo Beach on the beautiful Central Coast of California. First and foremost, the pleasant year round weather makes it the perfect place to visit, no matter when you decide to take your vacation.
Participate in outdoor activities. Enjoy hiking trails, sandy beaches, bike outings, and more.
Food and wine lovers rejoice in this area filled with delectable cuisines and bountiful wines for any palate.
Relax your mind, body, and soul with first class yoga studios and spas.
Finally, bring your four-legged friends. Pismo Beach is a very pet-friendly community with its ample parks, beaches, and accommodations that all welcome the canine member of your family.
Vacation at SeaCrest
If relaxation and luxury is what you seek on your vacation, look no further than the SeaCrest OceanFront Hotel in Pismo Beach. Ocean views and upscale services will make it easy for you to use up all of your vacation days, no questions asked. Who wouldn’t want to share the memories from a beautiful Pismo Beach vacation?