Study: U.S. workers squander unused paid time off
By Patrick Clarke, Travel Pulse
A recent study on vacation time conducted by economic analysis firm Oxford Economics and commissioned by the U.S. Travel Association reveals that many Americans are hurting themselves and their companies by refusing to capitalize on paid time off.
According to Rachel Emma Silverman of the Wall Street Journal, Oxford Economics’ research found that Americans are wasting $52.4 billion in earned benefits each year as a result of unused paid vacation days, while U.S. businesses are left with $224 billion in liabilities for accumulated vacation time.
The study found that, on average, workers vacate roughly five vacations days every year.
Many companies have adopted the “use it or lose it” policy. Take your vacation in the year you earn it or it’s gone the following January.
NO LIABILITY for companies and the employees won’t be wasting their vacation.
For sick time the policy is becoming, if you’re sick stay home. You aren’t entitled to X number of days per year which you can be paid for if you don’t take them. If you’re sick to the point you become eligible for State Disability, which the company is paying for, then you are switched off the payroll onto the Disability payment. Seems like a logical system for both the company and the employee.