Magazine article HRMagazine

Mixed Signals Curb Use of Vacation Time

Magazine article HRMagazine

Mixed Signals Curb Use of Vacation Time

Article excerpt

At least $272 billion in unused vacation time is sitting on the balance sheets of U.S. businesses. Much of that liability is due to the uncertain vacation culture created by America's managers. Two-thirds of senior leaders and executives said they left vacation unused last year, according to a report from Project: Time Off, an initiative supported by organizations in tourism, hospitality and related industries.

The overall cost to organizations is even greater than the billions in unused vacation time. "Beyond the red mark on balance sheets, not taking time off hurts employee engagement and productivity, affects talent retention, and expedites burnout-all of which hurt a company's bottom line," said Katie Denis, the project's senior director and author of the report.

Among the benefits of encouraging the use of vacation time:

Increased energy and less burnout. Managers said this was the most compelling reason for taking time off. …

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