Many Americans try to obtain the American dream through hard work but sometimes that means long hours, limited time off and missed vacation. The pressure to try and make it to the top can leave some feeling overworked and overwhelmed. That’s when people need a break the most.
But according to a new study by Bankrate.com, that’s not happening. Fifty-two percent of Americans who get paid vacation time are leaving it on the table this year.
The average days of paid vacation time left over is 19, among survey respondents.
“This ‘workaholic’ approach is deeply embedded in our country’s culture, but working more hours and sacrificing vacation days does not make you a better employee or help you climb the ladder any faster,” explained Personal Finance Expert Sarah Berger.
The study also shows that 59 percent of younger millennials won’t use all of their time off and 29 percent say they’ll use none of their paid vacation days in 2016. Along with, 9 percent of older millennials, 6 percent of Generation X and 7 percent of Baby Boomers that are not using their paid time off.
“Without taking the time to recharge, employees can find themselves stressed, overworked and sick, all of which have a direct impact on their work performance,” said Berger.
Many companies offer employees the option of rolling over unused vacation time into the next year and 35 percent of survey respondents say this is the reason they don’t take time off.
The majority of working Americans would prefer a cash bonus equal to 1 week of pay (56%) instead of an additional week of paid vacation each year (42%) across the board, according to Bankrate.com.
To view more of the survey results, click here.