Study : Vacation Benefits and Their Impact on the Workplace survey by Society for Human Resource Management (SHRM).
Conducted by Society for Human Resource Management (SHRM), the Vacation Benefits and Their Impact on the Workplace survey is commissioned by and completed in collaboration with the U.S. Travel Association.
Released on November 2013, the survey reveals that improved wellness, morale, performance and productivity are all benefits that a majority of HR professionals (90-94 percent) believe result when employees take paid vacation. In a survey of 481 members, SHRM found that HR professionals link use of vacation time with higher-performing employees, greater productivity and less lost work due to sickness.
According to the survey, more than two-thirds of HR professionals also either agree or strongly agree that employees who started taking more vacation would experience higher levels of job satisfaction (74 percent), be more productive (72 percent), perform better (69 percent) and experience greater engagement (67 percent). However, 61 percent of organizations report that employees have an average of three or more unused vacation days each year.
About three in five organizations (62 percent) allow employees to roll over vacation days (54 percent with limited rollover days and 8 percent unlimited rollover), while over one-third of organizations (38 percent) do not allow employees to roll over vacation time from year to year. Among those organizations with “use it or lose it” plans, 36 percent of employees had three or more unused vacation days, while 73 percent of employees from organizations with limited rollover plans had three or more unused days.
Additionally, three-quarters (77 percent) of organizations that do not offer rollover report that most employees (81-100 percent) use all of their vacation days each year, while 31 percent of organizations allow rollover indicate that most employees (81-100 percent) use all of their vacation days each year.