Professional services firm EY found that employee productivity levels increased by eight per cent if businesses offered ten extra hours of holiday time. This concept has mostly been capitalised on by companies in the technology sector.Netflix has been an early adopter of the vacation non-policy, along with firms such as Zynga, Groupon, Evernote, VMware, Eventbrite, and HubSpot. However, several studies have suggested that “unlimited” perks would be of no benefit to the company. For example, a 2014 report from Oxford Economics found that companies were saddled with $224bn (£144.40bn) in liabilities for vacation days that employees were given but did not use. Read more about how to keep your staff happy:
- How Alton Towers keeps its staff happy
- The most unusual ways to keep employees happy
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Management consultant Marc Dorio claimed that the reason for this may be something called “work martyr syndrome”. Competitive workplaces simply keep employees from using the time off they have earned.
In part, it’s because “busyness” is something we wear as a badge of honour. But it’s also because we’re emerging from a tough economy and many feel less secure in their jobs.
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