Summer has officially started (cue rosé and margaritas) and for many of us, that means some well-deserved R&R. The benefits of getting out of the office to live, explore, relax and just detach can't be underestimated. Why? Here's some food for thought on the subject:
You're more likely to get promoted: "Project: Time Off found that only 23 percent of those who forfeited their (vacation) days were promoted in the last year, compared to 27 percent of “non-forfeiters.”
Your performance ratings increase: "Professional services firm, Ernst & Young conducted an internal study of its employees and found that for each additional 10 hours of vacation time employees took, their year-end performance ratings improved 8 percent. What's more, frequent vacationers were significantly less likely to leave the firm. " -Inc.com
Productivity increases: "Boston Consulting Group found that high-level professionals who were required to take time off were significantly more productive overall than those who spent more time working." -Inc.com
You're more likely to see a raise or bonus: "Project: Time Off also found that "using your paid time off may also help you get the raise you have been hoping for. The study found that 78 percent of forfeiters received a raise or a bonus in the past three years, compared to 84 percent of those who did use all of their paid time off."
If those stats aren't convincing enough, the study also found that companies that promote a culture wherein taking a vacation is encouraged, actually realized a competitive advantage. 72% of employees were happier working with a company that encouraged vacation and 68% of employees found happiness with their job.
It's clear that taking the time to step out of the office and recharge has real benefits, and aside from all of the above, the benefit to your health is real as well. Allina Health notes that "People who take vacations have lower stress, less risk of heart disease, a better outlook on life, and more motivation to achieve goals." So why do employees leave so much vacation time on the table each year? Here are the top 3 reasons:
68% - Fear of looking replaceable
56% - Believe their workload is too heavy
56% - Lack of coverage at work
With "burnout" now recognized as an official medical diagnosis, it's more critical than ever for organizations to take the time to truly evaluate how time off is viewed or perceived by its employees. Even if your company isn't where you want it to be, just taking small steps toward promoting time off can have a big impact.