3 Reasons Why You Need to Offer More Vacation
When structuring a benefits package, many employers limit the amount of paid vacation they offer their employees. According to reports, the U.S. is one of the worst countries in the world for offering paid vacation. We don’t have any mandates for offering ANY paid holidays or vacation. So, why should you offer any or more than the standard two weeks?
1. Better Recruitment
If you’re trying to recruit the best employees around, but are a little limited on the salary numbers you can offer, offering extra paid vacation time can be enough to swing things in your favor. Since the “standard” for salaried employees is ten paid vacation days, consider offering fifteen or twenty. You’ll be surprised how much it will change candidates’ views on your company’s policies.
2. Cost-Controlled Benefit
Unlike healthcare and other benefits that are altered annually by other corporations, you can control the cost of vacation. If you offer all of your salaried employees twenty days of paid vacation time per year, you can calculate exactly how much it’s going to cost you, and budget for that expense. Additionally, as mentioned above, some employees may accept a slightly lower salary in exchange for the extra vacation time, helping you recoup some of the dollars you are giving toward the vacations.
3. Improved Employee Engagement
Studies have proven time and time again that a well-rested employee, is a happy employee. If employees know that you are giving them the gift of more paid vacation, they are going to be more engaged at work. Feeling that the company is invested in their happiness, and work-life balance, allows them to feel invested in helping the company succeed. Knowing that they are taking a long weekend, or vacation soon, will keep your employees productive at work. Don’t you always work harder knowing you’re checking out for a few days?
It has been time for a major discussion about paid vacation in this country for a while now. Offering your employees more vacation time can help benefit you and your company tremendously, but it’s more than that! Don’t you wish that when you just had your kids you had been able to take paid leave, or more paid time off to spend with your new family? Have you ever wanted to take that three week trip to Europe, but couldn’t afford to not be at work for a week? Has your family ever really wanted you to come home for an important celebration, and you couldn’t afford to take the time off? These situations hurt people’s drive, connection, passion, and happiness. Our businesses need people who aren’t depressed, or discouraged because they feel chained to their jobs. Don’t just offer your employees more paid time off because it benefits you and your company. Offer it because it benefits them.
Abby Yetter is the CEO and Chief Consultant of Bright Ideas Small Business Solutions, LLC. She is a driven, enthusiastic businesswoman, with a talent for organizing the chaotic, and branding the unfamed. Abby strives to use her creativity, and experience, to solve the many problems of small businesses. With a background based in customer service management, social media, technological organization, sales, marketing, and customer experience specialties, she enjoys taking everyday complications, and finding the newest, most productive ways to execute the tasks.All stories by: Abby Yetter