Study Says Vacation Time Boosts Employee Performance
According to new research, offering your employees paid time off can result in a high-performing team that can help your veterinary practice thrive.
It’s time to give your employees a break. According to a report from the human resources technology company Namely, high-performing employees take more vacation time than average performers. That means offering a generous vacation policy could have a positive impact on your veterinary practice.
Namely analyzed data from more than 125,000 employees and discovered that a high performer takes about 19 days of paid time off per year, which was five more days than what an average performer takes.
According to March 2016 research from the Bureau of Labor Statistics, employees with one year of experience average 11 days of paid vacation, employees with five years of experience average 15 days and those with 10 and 20 years of tenure average 17 and 20 days, respectively.
But some companies choose to offer their employees unlimited vacation policies, which Namely says employers might find surprisingly beneficial.
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When restricted with a select number of days, employees may be wary of using their paid time off. The report states that nearly 700 million vacation days went unused last year, but that 80 percent of the employees surveyed said they would feel more comfortable taking time off if their manager encouraged it.
Some employers may think that offering an unlimited vacation policy would lead to their employees taking advantage, but this is a myth. According to Namely’s report, for the 1 percent of companies that do offer unlimited vacation days, employees only take about 13 days off per year.
“Unlimited vacation time can be a strong benefit that increases employee engagement, productivity and retention — but only if the policy is actually utilized,” the report stated.
While employees are not legally entitled to paid time off from work, the benefits that could come with offering paid time off may ultimately help you create a more successful practice.