As we gear up for Q4 companies and employees might realize that they have PTO that they never took off. There are many reasons why its good for both to make sure that paid off days are put to use. Many employers are reporting low PTO usage from employees this year. For those employees working from home, the lines between work and home are blurred. Many are working longer hours than before the pandemic. Extra work and no play can lead to employee burnout.
Its good for employers
According to the U.S. Travel Association, hundreds of millions of vacation days will go unused this year. But when employees opt not to take a break from work, they and their organization may suffer for it in the long run. During the COVID-19 pandemic, many employees are focusing on maintaining their service and product quality and taking paid time off (PTO) may not be the first thing on their mind.
First, employers who provide paid time off see reduced levels of unscheduled "call ins". A study found that employers who offered paid-time-off programs saw around a 6 to 8 percent decrease in employees who missed work without giving notice.
While this study is admittedly dated and exact data may be slightly different today, the trend still holds true. When employees are allowed to take time away from work, they’re more likely to notify their employer of future absences. Of course, last-minute illnesses and family emergencies will always come up. Giving employees permission to leave work for a vacation or other reason will reduce those planned but not shared absences, though.
This reduction alone should give employers pause to consider offering paid time off if they don’t already. Lost wages due to absenteeism cost employers $1,685 per employee, per year according to the Center for Disease Control.
Productivity decreases when people work long hours. Days of work with no break and weeks without any vacation lead to workers who have trouble focusing, are less motivated and can’t produce as much. For those in creative roles, their ability to think outside the box also suffers, according to Harvard business review .
Prolonged periods with no rest increases the potential for burnout. When burnout becomes a problem, employers see higher turnover rates and ultimately end up spending more on training new hires to replace those that leave. With the average cost of hiring a new employee approximately $4,000, paying for some time off to retain current employees is much more financially advisable.
Its good for employees
people who use all their vacation time are more likely to receive promotions and bonuses than their vacation-forgoing colleagues. People who took more than 10 of their vacation days had a 65.4% chance of receiving a raise or bonus.
Work-life balance is important. A State of the American Workplace report from Gallup found that 53 percent of employees prioritize working somewhere that lets them maintain a healthy balance, and another survey found that number increased dramatically among parents. The study saw 81 percent of parents rank work-life balance over salary when asked to prioritize what they want in a job.
Taking time off is GOOD for your health. Not working every day helps employees lead healthier lives. The health benefits of taking time off are many, and they improve both mental and physical health. For example, one study found that long work hours increases the risk of coronary heart disease and stroke. The American Psychological Association lists mental health benefits as one of several reasons to take vacations. These are just a couple of the studies and organizations that have found health-related evidence in favor of vacations.
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