|By PR Newswire||
|February 20, 2014 05:00 AM EST||
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."
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
Silver Spring Networks, Inc. (NYSE: SSNI) extended its Internet of Things technology platform with performance enhancements to Gen5 – its fifth generation critical infrastructure networking platform. Already delivering nearly 23 million devices on five continents as one of the leading networking providers in the market, Silver Spring announced it is doubling the maximum speed of its Gen5 network to up to 2.4 Mbps, increasing computational performance by 10x, supporting simultaneous mesh communic...
Feb. 11, 2016 05:00 AM EST
Predictive analytics tools monitor, report, and troubleshoot in order to make proactive decisions about the health, performance, and utilization of storage. Most enterprises combine cloud and on-premise storage, resulting in blended environments of physical, virtual, cloud, and other platforms, which justifies more sophisticated storage analytics. In his session at 18th Cloud Expo, Peter McCallum, Vice President of Datacenter Solutions at FalconStor, will discuss using predictive analytics to ...
Feb. 11, 2016 02:45 AM EST Reads: 395
Let’s face it, embracing new storage technologies, capabilities and upgrading to new hardware often adds complexity and increases costs. In his session at 18th Cloud Expo, Seth Oxenhorn, Vice President of Business Development & Alliances at FalconStor, will discuss how a truly heterogeneous software-defined storage approach can add value to legacy platforms and heterogeneous environments. The result reduces complexity, significantly lowers cost, and provides IT organizations with improved effi...
Feb. 11, 2016 02:30 AM EST Reads: 253
The cloud promises new levels of agility and cost-savings for Big Data, data warehousing and analytics. But it’s challenging to understand all the options – from IaaS and PaaS to newer services like HaaS (Hadoop as a Service) and BDaaS (Big Data as a Service). In her session at @BigDataExpo at @ThingsExpo, Hannah Smalltree, a director at Cazena, will provide an educational overview of emerging “as-a-service” options for Big Data in the cloud. This is critical background for IT and data profes...
Feb. 11, 2016 01:15 AM EST Reads: 209
SYS-CON Events announced today that Men & Mice, the leading global provider of DNS, DHCP and IP address management overlay solutions, will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. The Men & Mice Suite overlay solution is already known for its powerful application in heterogeneous operating environments, enabling enterprises to scale without fuss. Building on a solid range of diverse platform support,...
Feb. 11, 2016 01:00 AM EST Reads: 224
Father business cycles and digital consumers are forcing enterprises to respond faster to customer needs and competitive demands. Successful integration of DevOps and Agile development will be key for business success in today’s digital economy. In his session at DevOps Summit, Pradeep Prabhu, Co-Founder & CEO of Cloudmunch, covered the critical practices that enterprises should consider to seamlessly integrate Agile and DevOps processes, barriers to implementing this in the enterprise, and pr...
Feb. 11, 2016 01:00 AM EST Reads: 407
Sensors and effectors of IoT are solving problems in new ways, but small businesses have been slow to join the quantified world. They’ll need information from IoT using applications as varied as the businesses themselves. In his session at @ThingsExpo, Roger Meike, Distinguished Engineer, Director of Technology Innovation at Intuit, showed how IoT manufacturers can use open standards, public APIs and custom apps to enable the Quantified Small Business. He used a Raspberry Pi to connect sensors...
Feb. 11, 2016 12:45 AM EST Reads: 219
The principles behind DevOps are not new - for decades people have been automating system administration and decreasing the time to deploy apps and perform other management tasks. However, only recently did we see the tools and the will necessary to share the benefits and power of automation with a wider circle of people. In his session at DevOps Summit, Bernard Sanders, Chief Technology Officer at CloudBolt Software, explored the latest tools including Puppet, Chef, Docker, and CMPs needed to...
Feb. 11, 2016 12:30 AM EST Reads: 329
One of the bewildering things about DevOps is integrating the massive toolchain including the dozens of new tools that seem to crop up every year. Part of DevOps is Continuous Delivery and having a complex toolchain can add additional integration and setup to your developer environment. In his session at @DevOpsSummit at 18th Cloud Expo, Miko Matsumura, Chief Marketing Officer of Gradle Inc., will discuss which tools to use in a developer stack, how to provision the toolchain to minimize onboa...
Feb. 10, 2016 11:45 PM EST Reads: 113
Data-as-a-Service is the complete package for the transformation of raw data into meaningful data assets and the delivery of those data assets. In her session at 18th Cloud Expo, Lakshmi Randall, an industry expert, analyst and strategist, will address: What is DaaS (Data-as-a-Service)? Challenges addressed by DaaS Vendors that are enabling DaaS Architecture options for DaaS
Feb. 10, 2016 11:45 PM EST Reads: 352
DevOps is not just last year’s buzzword. Companies with DevOps practices are 2.5x more likely to exceed profitability, market share, and productivity goals. But how do you enable high performance? What can you do right now to start? Find out from DevOps experts including Gene Kim, co-author of "The Phoenix Project," and the Dynatrace Center of Excellence.
Feb. 10, 2016 09:15 PM EST
SYS-CON Events announced today that Avere Systems, a leading provider of enterprise storage for the hybrid cloud, will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. Avere delivers a more modern architectural approach to storage that doesn’t require the overprovisioning of storage capacity to achieve performance, overspending on expensive storage media for inactive data or the overbuilding of data centers ...
Feb. 10, 2016 09:00 PM EST
SYS-CON Events announced today that Catchpoint Systems, Inc., a provider of innovative web and infrastructure monitoring solutions, has been named “Silver Sponsor” of SYS-CON's DevOps Summit at 18th Cloud Expo New York, which will take place June 7-9, 2016, at the Javits Center in New York City, NY. Catchpoint is a leading Digital Performance Analytics company that provides unparalleled insight into customer-critical services to help consistently deliver an amazing customer experience. Designed...
Feb. 10, 2016 04:00 PM EST Reads: 379
With the proliferation of both SQL and NoSQL databases, organizations can now target specific fit-for-purpose database tools for their different application needs regarding scalability, ease of use, ACID support, etc. Platform as a Service offerings make this even easier now, enabling developers to roll out their own database infrastructure in minutes with minimal management overhead. However, this same amount of flexibility also comes with the challenges of picking the right tool, on the right ...
Feb. 10, 2016 04:00 PM EST Reads: 163
SYS-CON Events announced today that Alert Logic, Inc., the leading provider of Security-as-a-Service solutions for the cloud, will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. Alert Logic, Inc., provides Security-as-a-Service for on-premises, cloud, and hybrid infrastructures, delivering deep security insight and continuous protection for customers at a lower cost than traditional security solutions. Ful...
Feb. 10, 2016 02:30 PM EST Reads: 431