Over one in four Americans have decided to forgo a summer vacation this year, and 22% remain undecided, according to a new survey by Bankrate.
The top reason for forgoing a summer vacation: can't afford it / not in the budget.
60% of respondents cited that they aren’t planning a vacation because they can’t afford it. 44% cited day-to-day bills as the most inhibiting factor and 22% indicating they are paying down debt.
In line with those findings, Bankrate notes that only 40% of Americans are able to cover a $1,000 emergency expense and 29% of American households have more credit card debt than they do savings.
Paid time off (PTO) is a form of compensation. It helps reduce stress and improve employee well-being, so when large chunks of the workforce aren’t able to capitalize on their PTO, it can compromise the organization as a whole.
But don’t sweat it!
Relieving stress is not just about taking days off and PTO Exchange has the remedy.
PTO Exchange has developed a fully customizable PTO benefits platform which enables companies to offer employees the ability to swap unused vacation time for other liquid assets, when they need it the most.
Employees can transform unused vacation days (PTO) into student loan payments, tuition reimbursement, healthcare or retirement savings, travel awards and charitable giving. Employers are no longer stuck worrying about employee well-being if they can’t take vacation..
For many people, taking time away from your job can be MORE stressful. Help those who are overwhelmed with debt and bills find comfort – even in the office.
Learn more today on how PTO Exchange can help your employees access their unused vacation safely and responsibly.
Published on Apr 30, 2019 by Tom Gemmell
