For the past two years, summer vacation seemed like a memory of the past. This year, as pandemic worries start to fade, we are more determined than ever not to spend these sunny months behind a computer screen. Even though 63% of employees would turn a job offer down if no PTO was offered, billions of dollars in wages are lost due to unused PTO. Being in the American workforce, we value a company that provides paid time off opportunities, but 55% of us are not utilizing any part of our PTO benefits.
Although inflation makes us even more cautious regarding our spending habits, your unused PTO can make our dream vacation a reality. Here’s how to ensure your earned paid time off does not go to waste this summer by turning it into flights, hotels, cruises, and car rentals.
Why use PTO?
If there is one thing for sure, travel is not cheap–the priciest aspects being flights and accommodations. Although we can’t control economic woes such as inflation, we have a secret weapon that our hard work has rewarded us with: our PTO.
For every hour or period of time worked, employees accrue hours of PTO. And often, your accrued PTO is on a “use it or lose it” basis each year. While it seems like a no-brainer to take your PTO, employees leave millions of unused PTO days on the table yearly.
But you have another option: use your PTO to pay for your vacation. If you already have days you’re not planning on taking off, why not turn the value of those days into a trip? It’s a win-win: you get a well-deserved break, your expiring PTO doesn’t go to waste, and you save money on travel expenses.
How you can use your PTO to book your summer vacation
This summer, we’re all on the hunt for a good travel bargain, and we’re willing to try anything to save a few bucks on a plane ticket or hotel stay. Here are a few ways you can use your PTO to pay for your vacation:
- Airfare: Use accrued PTO to buy airfare (and maybe even upgrade your seat).
- Hotels: From boutique motels to five-star resorts, self-direct accrued vacation hours towards a hotel stay.
- Cruises: If you’ve always wanted to head to the Caribbean or Alaska, trade unused vacation hours for a cruise.
- Car Rentals: Skip the Uber and use your unused PTO towards renting a car (hello, convertible!).
Travel with PTO Exchange
This summer, don’t let anything stop you from taking the vacation you deserve. At PTO Exchange, we work directly with travel partners such as Priceline to make your dream getaway a reality. We offer flights on all major airlines and accommodations from thousands of hotels and other providers.
No matter how big or small, vacations give us the time to ourselves that we don’t realize we neglect all year round. To be our best selves in the office or home, we need time to rest and recharge. But, you don’t need to let price tags get in the way of your holiday–use your unused PTO instead.
PTO Exchange can help you self-direct your PTO to make it more valuable today. Talk to your HR department and contact us today to learn more.