DENVER–(BUSINESS WIRE)–Half of all workers who receive paid vacation time in the nation’s top
10 largest cities would be willing to sacrifice a workplace benefit in
exchange for more paid time off. However, despite their desire for more
free time, most employees don’t even use the vacation time they already
receive.
This is the key finding from “Inspirato
Insights: American Attitudes on Paid Time Off,” a new survey
commissioned by destination vacation club Inspirato
among 2,534 adults in Atlanta, Boston, Chicago, Dallas-Fort Worth,
Houston, Los Angeles, New York City, Philadelphia, San Francisco and
Washington, D.C.
Additional findings uncovered by the survey include:
Despite the down economy, more than one tenth of all employees who
receive vacation time from their employer would prefer more time off
over a higher salary or a promotion – and one sixth would forgo a
compensation bonus in exchange for more paid time off.
Ten percent of all workers given any vacation time would give up their
company’s 401(k) match in return for more vacation time.
The coveted private office from days gone by no longer seems to be the
desirable benefit it once was: a quarter of respondents indicated
they’d give up a chance at a private office for more vacation time.
However, only a fraction (five percent) of workers who receive any
vacation time are willing to take a pay cut for more time away
from work.
Ironically, a majority of employees who receive paid time off (57
percent) do not use all the vacation time they receive, according to the
survey. Employees in Los Angeles and San Francisco leave the most
vacation time behind (about a third of their allotted time overall) yet
47 percent of L.A. workers with paid vacation and 43 percent of San
Francisco workers with paid vacation said they were willing to give up a
different workplace benefit for more paid time off.
“As a dedicated entrepreneur currently in the midst of growing my own
business, I can relate to how easy it can be to put off taking time for
yourself and your family,” said Brent
Handler, founder and CEO of Inspirato. “The opinions reflected in
this survey reinforce the importance that vacations play in our lives.
It’s encouraging to see that people recognize how vital it is to
consider time away from work as essential – and even more critical than
many of the valuable benefits that employees enjoy.”
Overall, 85 percent of survey respondents indicated their employer
provides a paid vacation benefit, with an average of just over 19 days
per year. Chicago employees reported receiving the highest number of
vacation days, with 30 percent indicating they received 21 days or more
of paid vacation time per year. Boston and San Francisco had the highest
percentage of workers who lack paid vacation time, with 19 percent of
respondents in each city reporting they received zero paid vacation days
per year.
A willingness to sacrifice something in favor of vacation isn’t just
limited to the workplace. Most survey respondents (80 percent) reported
that they would be willing to skip an important event – including a
baptism, graduation, wedding, funeral or dinner party hosted by a boss –
in order to go on vacation.
The survey uncovered some notable regional differences in attitudes
toward paid time off. For example, Washington, D.C., employees who
receive paid time off are reportedly the most vacation hungry, with 58
percent indicating they would give up a workplace benefit in exchange
for more time off. On the contrary, workers in Boston with paid vacation
are least likely (38 percent) to give up anything for more vacation time.
In addition, attitudes toward landing that great promotion or new job
opportunity vary widely. Nearly a quarter of Philadelphians (23 percent)
said they would be willing to take a pass on a promotion in favor of
more vacation time. In power-focused D.C., only a small fraction of
employees surveyed (3 percent) said they’d give up a new job opportunity
or a promotion in exchange for more time off.
Conducted by Harris Interactive, the survey gauged attitudes on
everything from the vacation benefits they receive at work to what
workplace benefits they’re willing to forgo in exchange for time off
from work.
“What’s interesting about this data is to see such different attitudes
toward vacations – particularly among the four mega cities on the East
Coast – Boston, New York, Philadelphia, and Washington, D.C.,” said
Regina A. Corso, Senior Vice President, Harris Poll and Public
Relations, Harris Interactive. “Boston and Philadelphia are less likely
to leave any vacation days on the table at the end of a year, while over
half of New Yorkers and two-thirds of those in Washington, D.C. do leave
some vacation time unused.”
This week, Inspirato will launch Inspirato
for Business, a new membership offering designed for companies that
recognize the importance of vacation and want to provide their employees
or customers the exclusive travel privileges and benefits of an
Inspirato membership. Through Inspirato for Business, companies can
purchase individual memberships on behalf of their most valued employees
or one-time guest passes to reward strong performance. More information
on Inspirato for Business is available at http://ift.tt/1ozTGhb.
Methodology
This study was conducted online within the
United States by Harris Interactive on behalf of Inspirato between June
14-21, 2012, among 2,534 respondents 18 years or older in Atlanta,
Boston, Chicago, Dallas-Fort Worth, Houston, Los Angeles, New York City,
Philadelphia, San Francisco and Washington, D.C. No estimates of
theoretical sampling error can be calculated; a full methodology is
available. A complete listing of survey results can be found at http://ift.tt/1ozTGhd.
About Inspirato
Designed specifically for a new generation
of luxury consumers, Inspirato (In – spuh – rah – toh) offers the best
of destination club consistency and service, together with unmatched
value, flexibility and low-cost membership. Our members have access to
an ever-growing portfolio of luxury vacation homes in the world’s top
destinations, including California, the Caribbean, Colorado, France,
Hawaii, Italy, London, Mexico, New York City and more. By leasing
vacation properties (rather than owning), Inspirato is able to keep
membership fees low, offer up to 50 percent off market rates, and easily
add homes and destinations as demand increases. Our innovative business
model has led to rapid growth since our January 2011 launch, placing
Inspirato at the forefront of the “luxury for less” movement. For more
information, please visit www.inspirato.com.
About Harris Interactive
Harris Interactive is one of the
world’s leading market research firms, leveraging research, technology,
and business acumen to transform relevant insight into actionable
foresight. Known widely for the Harris Poll® and for pioneering
innovative research methodologies, Harris offers proprietary solutions
in the areas of market and customer insight, corporate brand and
reputation strategy, and marketing, advertising, public relations and
communications research. Harris possesses expertise in a wide range of
industries including health care, technology, public affairs, energy,
telecommunications, financial services, insurance, media, retail,
restaurant, and consumer package goods. Additionally, Harris has a
portfolio of multi-client offerings that complement our custom solutions
while maximizing our client’s research investment. Serving clients in
more than 215 countries and territories through our North American and
European offices, Harris specializes in delivering research solutions
that help us – and our clients – stay ahead of what’s next. For more
information, please visit http://ift.tt/j7byFH.
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