If everyone took their paid vacation days, the U.S. economy could see a huge boost. (Photo: Thinkstock)
How many times do we have to tell you to take a vacation?!
According to a report put out by the U.S. Travel Association’s Travel Effect Initiative, the U.S. workforce forfeited $52.4 Billion in benefits as a result of 169 billion paid time off (PTO) days that went unused in 2013.
The Oxford Economics report called “All Work and No Pay: The Impact of Forfeited Time Off,” reveals that the average American earns 21 days of PTO each year, but only uses 77 percent of them. This means that 4.9 days of paid vacation are given up every year, totaling $504 in surrendered benefits per person.
And you would think that working harder would mean more promotions, but that’s not the case. Employees who leave 11-15 PTO days unused are actually 6.5% less likely to receive a raise or bonus than those who used all of their time off. Go Figure.
Pick a date and go on vacation. You’ve earned it! (Photo: Thinkstock)
Banking those days off for a rainy day? That might not make sense either. The report shows that nearly 23.4% of workers lose their vacation days at the end of the year. And for those who do have rollover days, about 30% of people can only roll over five days or less.
You deserve a break. You’ve earned it.