PHOENIX- Money is important to a lot of people but surprisingly, one third of Americans reported they would give up a portion of their paycheck for unlimited vacation.
Allianz Global Assistance’s 2019 Vacation Confidence Index survey looked at 1,005 workers and found these astonishing results.
When the participants were asked how much of their salary is worth unlimited vacation, majority (55 percent) said they wouldn’t give up any percentage of their salary. According to the survey, the remaining reported:
- Already had unlimited vacation – 12 percent
- Would give up 0-24 percent of their salary – 19 percent
- Would give up 25-49 percent of their salary – 7 percent
- Would give up 50+ percent – 7 percent
The study leads into an ongoing and rising debate as to whether a company should offer unlimited time or not.
According to the Society for Human Resource Management, SHRM, some companies have started to make the transition from paid-time off to unlimited time off. SHRM analyzed what the difference looked like and how exactly a company would transition into a new policy like that.
“An unlimited-vacation policy can be an appealing recruiting and retention tool, especially in fields where the line between work and leisure is often blurred,” June D. Bell, SHRM contributor, said in the article. “But the prospect of unlimited paid time off can raise concerns for managers and HR professionals. Preventing abuse is a major challenge. Making a smooth transition from a paid-time-off policy to an unlimited one is another challenge.”
That leaves the question, would you take a pay cut for unlimited vacation time or would you stick to it and get the money you’re working for?