Not Taking All Your Vacation Days Could Be Costing You In More Ways Than One

You probably need a holiday - for your sanity, and potentially for your salary.

A new report by Project: Time Off - an organization founded by the U.S. Travel Association - found that 55 percent of American workers didn’t take all their vacation days in 2015, accounting for about 658 million days of unused paid time off.

If that doesn’t sufficiently startle you, the report also found that people who take all their vacation days are more likely to report getting a bonus or a raise. Researchers also found that just 23 percent of people who forewent a vacation were promoted in the last year.

“Employees who forfeit their vacation days do not perform as well as those who use all their time,” the report stated.

“While they may believe sacrificing vacation time will get them ahead, these employees are less likely than non-forfeiters to have been promoted within the last year (23 to 27 percent) and to have received a raise or bonus in the last three years (78 to 84 percent). This is on top of the $66.4 billion in benefits they lost by forfeiting time last year.”

Taking a holiday can also help the global economy, say researchers, who write that vacation days cost the U.S. economy $236 billion in 2015 due to lost spending.

“If the 54 percent of workers who left time unused in 2016 took just one more day off, it would drive $33 billion in economic impact,” the report stated.

Katie Denis, senior program director of Project: Time Off, told Travel+Leisure that it’s a manager’s responsibility to encourage employees to take time off.

“To change this trend, it has to come from the top. We need bosses who know the value that time off can bring to an organization,” Denis said. “It costs nothing to tell workers it’s OK to take a vacation. It starts with simple encouragement and a reminder for employees to use their vacation days.”

h/t Travel+Leisure


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