With the summer weather extremely ropey this year it seems employees are dreaming of distant sandy beaches and blistering sunshine. An article in HR Magazine revealed that 40% of employees valued greater holiday allowance over pension contributions as a key driver to work harder. An increase in holiday allowance ranked no 2 behind thawing pay freezes and pay rises (which received 75% of the vote). The survey carried out by recruitment company Hyphen suggested that many companies are reaping the benefits of introducing extra holiday schemes in the workplace, in order to keep motivation levels at a high.
Hyphen also revealed that holiday allowance is of greater value to younger workers, aged between 16-24, making it a great way to attract and retain fresh talent. “Listening to changing employee demands and fears helps strategic companies increase their key drivers in order to shape employee benefit packages”.
Eye for Travel online also revealed that in 2012 travel giant Expedia achieved their highest volume of sales on record! It is clearly evident that the way to keep our minds off of the constant economic battle is to keep our minds focussed on the positives. This can be incorporated in many office environments and company cultures by increasing holiday allowance flexibility. Over 70% of employees felt that it gave them something to look forward too when booking a holiday and 41% felt that it was vital to spend more time with friends and family. Brit’s have one of the highest holiday allowances in the world, with an average of 25 days, and we are extremely determined to take the full amount available. Enabling your employee’s the opportunity to buy extra holiday and sell un-wanted holiday allowance increases staff loyalty, retention and ensures staff stay focussed and engaged.
Travel is still a priority for 83% of Brit’s and it seems that they will cut back in other areas in order to afford their much needed vacation. So why not keep your staff looking forward and review your employee holiday packages and benefits? This year it seems that most employees are ‘going on a summer holiday, no more working for a week or two!’