Approximately 37% of families reported that vacations made them happier. Fortunately, companies are beginning to recognize just how important vacation time is for their employees, and they’re taking steps to make it known.
The CEO of a California-based advertising agency has realized just how important vacation time is — so much so that he is offering employees $2,000 per year to take vacation time.
Employees have the liberty to use that money in any way they see fit, and to go anywhere in the world. In addition, they can use the money for multiple trips or a single trip. The options are virtually endless.
Mark Douglas, the CEO of SteelHouse, recently stated in an interview that he wants to help eliminate all of the guilt and stress that is normally associated with taking time off from work.
He said that telling employees they have vacation time to use is one thing, but having a set amount of money dedicated to that purpose creates an incentive to use it.
Simply put, if employees don’t use that $2,000 for their vacation time, the money is going to waste.
Some employees have claimed that they don’t need the vacation time and have simply asked for the $2,000 as a bonus, but Douglas said the money is for vacation purposes only.
However, Steelhouse isn’t the only company offering its employees money dedicated solely to vacation.
A company called Buffer has recently started offering its employees unlimited vacation time.
Some companies may go for the approach that for every month, employees must take a certain amount of vacation time. But Buffer believes that an employee should have as much vacation time as they need in order to provide their best quality service to the company.
Buffer is a global company that brings people together from many different countries and cultures. When it comes to taking time off, they needed a policy that could accommodate everyone.
Surprisingly, unlimited vacation time worked out quite well.
While Buffer might offer unlimited vacation time, Steelhouse is still packing a generous punch with their incentive.
Fortunately for employees, the process is simple.
If an employee books a plane ticket on Monday, they will be reimbursed by Tuesday. If they cannot front the fee, they can simply use a company credit card.
Douglas said that the company has thrived since the policy was instated three years ago. “We have virtually zero turnover,”he said.