There are several ways you can improve your company’s bottom line, from reducing unnecessary expenditures to reassessing your marketing strategy. However, you also shouldn’t underestimate the value of encouraging your employees to use their vacation time. In return, you’ll have a happier and healthier workforce, resulting in cost savings in ways you may have overlooked.
Many workers in today’s competitive business environment often forgo taking time off. There is a fear of being replaced. There is worry their workload is too heavy and time off will only get them further behind. Plenty of evidence now shows that employees who do take time off from work are far more productive than those who don’t. While the trend of unused vacation time was up just a few years ago, a recent study conducted by the U.S. Travel Association shows that trend is reversing and, in doing so, is having a significant impact on the nation’s economy. In fact, the study cites that, “If Americans were to use all their unused time off, it would deliver a $255 billion jolt to the U.S. economy and create 1.9 million new American jobs.”
Employee retention and other benefits
Job burnout is often cited as one of the main reasons why a worker will leave a company. If this does happen, you will be forced to take on the time, energy and money it takes to find a replacement, and your other employees may wonder if they are in the right job as well. Yet, by encouraging your valued employees to take time off, you’re creating a more comfortable work environment and culture. Chances are, you will also increase your employee retention rate.
One of the most important benefits of encouraging your employees to take time off is improving their health and wellness. While some workers may not be able to remove themselves completely from their job responsibilities, just getting away for a few days will allow them to disconnect from the daily stresses of their routine. By allowing and even encouraging your employees to use their vacation time, you’re helping to improve their quality of life and you may even see a reduction in health care costs.
Encouraging time off
Career Builder notes that, “The workplace benefits of employees taking vacation time include higher productivity, stronger workplace morale, greater employee retention and significant health benefits.” Yet, according to their study, a third of all workers did not plan or take a vacation in 2017. So how do you encourage your employees to actually use their vacation days? First, you can lead by example. If your employees see you taking time off to de-stress and relax, they’re more likely to do so as well. It’s also important to let your employees know that you and the team will have their backs while they’re out, meaning you’ll all be there to pick up the slack and ensure they won’t be returning to mounds of unanswered emails and piles of work. Once your team members feel comfortable leaving the office for a few days, they’ll be more likely to use those vacation hours and come back re-charged and ready to work.
This article was written by Randy Yagi for Small Business Pulse