News Feed Item

Study: Unused Time Off Harms U.S. Productivity, Broader Economy

Ability or willingness to take time off hampered by complex dynamics between managers and employees

WASHINGTON, Feb. 20, 2014 /PRNewswire/ -- More than forty percent of American workers who receive the benefit of paid time off (PTO) finished the year by squandering a portion of their allotted time, according to a new study by Oxford Economics conducted for the U.S. Travel Association, "An Assessment of Paid Time Off in the U.S."

Despite an intrinsic understanding that using the leave they've earned delivers considerable personal and professional benefits, Americans left an average of 3.2 PTO days on the table in 2013, totaling 429 million unused days among U.S. workers.

According to the study, most managers recognize the benefits of taking leave, namely higher productivity, stronger workplace morale and greater employee retention, as well as significant health benefits. Yet, what managers believe and what employees perceive can be two different things.

Nearly 34 percent of employees indicated that their employer neither encourages nor discourages leave, and 17 percent of managers consider employees who take all of their leave to be less dedicated. Four in ten American workers said their employer supported time off, but their heavy workload kept them from using their earned days.

"Despite the myriad benefits of taking time off, American workers succumb to various pressures—some self-imposed and some from management—to not take the time off to which they are entitled," said Adam Sacks, President of the Tourism Economics division of Oxford Economics. "Leaving earned days on the table harms, not helps, employers by creating a less productive and less loyal employee.

"Further, it is a misconception that employers are ahead of the game when workers don't use the time they've earned. In fact, stockpiled time off creates considerable financial liability for companies and governments when employees 'cash out' upon departure."

The study was based on a survey of 971 employees, 700 of whom receive PTO as part of their benefits package, conducted between September and October 2013.

Other key findings:

  • Millions of Jobs: If workers used all of their available PTO, the economy would benefit from more than $160 billion in total business sales and $21 billion in tax revenues, spending that would support 1.2 million jobs in industries ranging from retail to manufacturing to transportation.
  • Even Small Changes Lead to Big Gains: If employees would take just one additional day of earned leave each year, the economy would benefit to the tune of $73 billion dollars in total impact.

"Underutilized time off is a monstrous missed opportunity, not only for American workers and their families, but also for employers and the broader economy," said Roger Dow, president and CEO of the U.S. Travel Association. "Americans take great pride in their work ethic, and our country's prosperity is a testament to that. We decided to explore why Americans understand the value of time off, continue to need it, yet squander so much of it. We seem to be wired to put the pedal to the metal, but there are also undeniable benefits to tapping the brakes.

"Leaving just one day less on the table—whether to tackle a project at home or simply enjoy a long weekend—would mean $73 billion in output for the U.S. economy and lead to significant positive impacts for employees and businesses."

Report Methodology
The primary research for "An Assessment of Paid Time Off in the US" was based on an online survey fielded from Sept. 17 to Oct. 5, 2013. The sample included 971 employees, 700 of whom receive paid time off as part of their benefits package. The impact of spending was determined through use of IMPLAN economic impact model for the U.S. to calculate jobs and tax impacts.

About Oxford Economics
Oxford Economics is one of the world's leading providers of economic analysis, forecasts and consulting advice. Founded in 1981 as a joint venture with Oxford University's business college, Oxford Economics has become one of the world's foremost independent global advisory firms, providing reports, forecasts and analytical tools on 200 countries, 100 industrial sectors and over 3,000 cities. Our best-of-class global economic and industry models and analytical tools give us an unparalleled ability to forecast external market trends and assess their economic, social and business impact.

Our global team of more than 80 professional economists, industry experts, and business editors is highly skilled in a full range of research techniques and thought leadership capabilities, from econometric modelling, scenario framing, and economic impact analysis to market surveys, case studies, expert panels, and web analytics. Our worldwide client base now comprises over 700 international organizations, including leading multinational companies, financial institutions, government bodies and trade associations.

About Travel Effect
Travel Effect is a research-driven initiative to prove the benefits of taking time off to the American economy, businesses and individuals. For more information and the full survey findings, visit www.traveleffect.com.

About U.S. Travel Association
The U.S. Travel Association is the national, non-profit organization representing all components of the travel industry that generates $2.0 trillion in economic output and supports 14.6 million jobs. U.S. Travel's mission is to increase travel to and within the United States. 

Video - http://youtu.be/w-67AA1oa_0

SOURCE U.S. Travel Association

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
Regulatory requirements exist to promote the controlled sharing of information, while protecting the privacy and/or security of the information. Regulations for each type of information have their own set of rules, policies, and guidelines. Cloud Service Providers (CSP) are faced with increasing demand for services at decreasing prices. Demonstrating and maintaining compliance with regulations is a nontrivial task and doing so against numerous sets of regulatory requirements can be daunting task...
@DevOpsSummit has been named the ‘Top DevOps Influencer' by iTrend. iTrend processes millions of conversations, tweets, interactions, news articles, press releases, blog posts - and extract meaning form them and analyzes mobile and desktop software platforms used to communicate, various metadata (such as geo location), and automation tools. In overall placement, @DevOpsSummit ranked as the number one ‘DevOps Influencer' followed by @CloudExpo at third, and @MicroservicesE at 24th.
Enterprises have been using both Big Data and virtualization for years. Until recently, however, most enterprises have not combined the two. Big Data's demands for higher levels of performance, the ability to control quality-of-service (QoS), and the ability to adhere to SLAs have kept it on bare metal, apart from the modern data center cloud. With recent technology innovations, we've seen the advantages of bare metal erode to such a degree that the enhanced flexibility and reduced costs that cl...
“Media Sponsor” of SYS-CON's 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. CloudBerry Backup is a leading cross-platform cloud backup and disaster recovery solution integrated with major public cloud services, such as Amazon Web Services, Microsoft Azure and Google Cloud Platform.
In the next forty months – just over three years – businesses will undergo extraordinary changes. The exponential growth of digitization and machine learning will see a step function change in how businesses create value, satisfy customers, and outperform their competition. In the next forty months companies will take the actions that will see them get to the next level of the game called Capitalism. Or they won’t – game over. The winners of today and tomorrow think differently, follow different...
According to Forrester Research, every business will become either a digital predator or digital prey by 2020. To avoid demise, organizations must rapidly create new sources of value in their end-to-end customer experiences. True digital predators also must break down information and process silos and extend digital transformation initiatives to empower employees with the digital resources needed to win, serve, and retain customers.
SYS-CON Events announced today that SoftNet Solutions will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. SoftNet Solutions specializes in Enterprise Solutions for Hadoop and Big Data. It offers customers the most open, robust, and value-conscious portfolio of solutions, services, and tools for the shortest route to success with Big Data. The unique differentiator is the ability to architect and ...
You think you know what’s in your data. But do you? Most organizations are now aware of the business intelligence represented by their data. Data science stands to take this to a level you never thought of – literally. The techniques of data science, when used with the capabilities of Big Data technologies, can make connections you had not yet imagined, helping you discover new insights and ask new questions of your data. In his session at @ThingsExpo, Sarbjit Sarkaria, data science team lead ...
A completely new computing platform is on the horizon. They’re called Microservers by some, ARM Servers by others, and sometimes even ARM-based Servers. No matter what you call them, Microservers will have a huge impact on the data center and on server computing in general. Although few people are familiar with Microservers today, their impact will be felt very soon. This is a new category of computing platform that is available today and is predicted to have triple-digit growth rates for some ...
As the world moves toward more DevOps and Microservices, application deployment to the cloud ought to become a lot simpler. The Microservices architecture, which is the basis of many new age distributed systems such as OpenStack, NetFlix and so on, is at the heart of Cloud Foundry - a complete developer-oriented Platform as a Service (PaaS) that is IaaS agnostic and supports vCloud, OpenStack and AWS. Serverless computing is revolutionizing computing. In his session at 19th Cloud Expo, Raghav...
In past @ThingsExpo presentations, Joseph di Paolantonio has explored how various Internet of Things (IoT) and data management and analytics (DMA) solution spaces will come together as sensor analytics ecosystems. This year, in his session at @ThingsExpo, Joseph di Paolantonio from DataArchon, will be adding the numerous Transportation areas, from autonomous vehicles to “Uber for containers.” While IoT data in any one area of Transportation will have a huge impact in that area, combining sensor...
So you think you are a DevOps warrior, huh? Put your money (not really, it’s free) where your metrics are and prove it by taking The Ultimate DevOps Geek Quiz Challenge, sponsored by DevOps Summit. Battle through the set of tough questions created by industry thought leaders to earn your bragging rights and win some cool prizes.
SYS-CON Events announced today that Transparent Cloud Computing (T-Cloud) Consortium will exhibit at the 19th International Cloud Expo®, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. The Transparent Cloud Computing Consortium (T-Cloud Consortium) will conduct research activities into changes in the computing model as a result of collaboration between "device" and "cloud" and the creation of new value and markets through organic data proces...
Between the mockups and specs produced by analysts, and resulting applications built by developers, there exists a gulf where projects fail, costs spiral, and applications disappoint. Methodologies like Agile attempt to address this with intensified communication, with partial success but many limitations. In his session at @DevOpsSummit at 19th Cloud Expo, Charles Kendrick, CTO at Isomorphic Software, will present a revolutionary model enabled by new technologies. Learn how business and deve...
In his session at Cloud Expo, Robert Cohen, an economist and senior fellow at the Economic Strategy Institute, will provide economic scenarios that describe how the rapid adoption of software-defined everything including cloud services, SDDC and open networking will change GDP, industry growth, productivity and jobs. This session will also include a drill down for several industries such as finance, social media, cloud service providers and pharmaceuticals.