SIMSBURY, Conn.--(BUSINESS WIRE)--More than half of U.S. workers plan to use all of their paid time-off
but are cutting back on vacation spending, according to research by The
Hartford Financial Services Group, Inc. (NYSE: HIG). The Hartford’s
Second Annual Time-off Survey also found that less than half of
Americans are financially prepared to deal with a loss of income due to
unplanned absences.
The national survey found that 56 percent of U.S. workers plan to use
all of their time off from work, an increase of 8 percent over last
year’s survey results. But, when asked what they were most likely to
postpone given the state of the economy, two-thirds (67 percent) of
survey participants said their vacation.
“Employees said they value the paid time-off that they receive from
their employers, but they continue to be worried about their income and
expenses. And as a result, they plan to cut back on vacation spending.
This could be the year of the so-called staycation,” said Marjorie
Savage, absence management director in The Hartford’s Group Benefits
Division. “We encourage workers to take steps to protect their physical
and financial health, such as taking time to relax, as well as
protecting their income. Income protection can provide peace of mind
that’s even more important during these stressful economic times.”
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Tags: economy, workplace, productivity, engagement
Categories: The Economy