Temperatures are rising, days are longer and blockbuster movies are being released faster and more furiously. It must be summer – a season when most employees take time off to relax and unwind. In fact, approximately 46 percent of all travel occurs in July, the heart of summertime. If you’re worried productivity might take a nosedive (into the swimming pool) over the next few months, don’t sweat it. You might be surprised to learn these statistics and benefits of enjoying time outside of the office.
Everyone deserves a break every now and then, right? And the good news is, most employers agree. According to recent research, 91 percent of full-time employees are given vacation time in their employment package. Yet, surprisingly, only 23 percent use their full paid time off (PTO), even though four out of five would choose benefits as vacation time over a pay raise. Why? According to a recent Forbes article, a fear of getting behind and the concern that others can’t do their work are leading factors to remaining on the clock and off the beach.
One of the best ways you can increase productivity is by fostering a culture with a healthy work-life integration. That means taking time out of the office to enjoy the big (and little) things in life, from the Caribbean cruise of your dreams to watching your daughter’s dance rehearsal. According to research, employees who use their allotted PTO are 31 percent more productive over the course of a year than those who don’t. In fact, for every 10 hours of vacation time, there’s an 8 percent boost in performance review scores. And the higher the score, the better the quality of work.
Improved Retention Rate
Imagine your organization is like a ship, and your employees are the propeller, launching your company forward. In other words, employees either can make or break your company’s success; therefore, attracting and retaining world-class talent should be at the top of your priorities. And if vacation time is one of the biggest benefits employees seek in an employer, it’s a no-brainer that this employee motivation can affect the retention rate.
In recent reports, 23 percent of employees indicated they would be motivated to change jobs for more vacation days. That’s almost a quarter of the workforce! This is a problem because not only does turnover send the office morale plummeting, but increased turnover also creates added expenses in training new personnel, not to mention the time and money needed to get new hires up to speed. In light of this alarming statistic, ensure you are providing and allowing enough PTO to your employees. Otherwise, they could abandon ship altogether.
Heightened Employee Engagement
According to Forbes, employee engagement is defined as “the emotional commitment the employee has to the organization and its goals.” Chances are, if your employees are actively engaged with your company – meaning, they are invested in its successes and challenges – they are more likely to tackle more demanding projects, without being asked.
So how does a little extra PTO affect employee engagement? According to research from Quantum Workplace, employees who’ve taken time off in the last 30 days are approximately 16 percent more likely to be engaged than those who haven’t taken a vacation in the past 12 months. In that same study, 72 percent of employees who took off five or more consecutive days within the last month were more engaged, compared to 57 percent of employees who took a break over a year ago. With results like these, it’s easy to see why it’s essential to reset and recharge. Do yourself – and your employees, a favor this summer: encourage your workforce to take a well-deserved break.
To learn more about the benefits of paid time off and how it positively impacts your company, download our new “Sun, Sand and PTO Statistics: Vacationing by the Numbers” infographic.