Not only are some not planning to travel this summer, most Americans aren’t taking advantage of their allotted paid vacation days.
According to recent poll of nearly 2,600 U.S. adults, just 38% of respondents who receive paid time off (PTO) plan to use it all. A staggering 6% of workers won’t use ANY of their paid time off and another 5 percent will use less than a quarter.
Employees left more than 705 million paid leave days on the table last year, resulting in over $60 billion in wages lost. Why has this become a norm? Why are we sacrificing our time and money for more stress?
“Paid time off is meant to reduce stress,” Rob Whalen, CEO and co-founder of PTO Exchange said. “It’s a benefit that's part of your overall compensation. You should be able to own it and self-direct it…period.”
PTO Exchange has found the solution and is fighting to change the standard.
PTO Exchange has developed a fully customizable platform which provides organizations the ability to offer employees the flexibility to swap their accrued PTO for whatever means the most to them, when they need it the most.
Ranging from student loan repayment, education support, healthcare or retirement savings, to travel and charity, employers are no longer stuck worrying about employee wellbeing if they can’t take vacation.
“In our pursuit of redeveloping the middle-class, offering this kind of flexibility is a must,” Whalen added. “At the end of the day, it’s your time and income. You worked for it, you should be able to use it how and when you need too.”
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