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WhatHalf (49%) of Americans say they would accept a job with no vacation time if they were paid 48% more, according to Allianz Global Assistance’s 11th annual Vacation Confidence Index. One in five Americans report they are willing to give up vacation days for an increase of 24% or less. However, one in three Americans say they would forfeit a portion of their paycheck for unlimited vacation.
Why It MattersIf clients don’t see their vacation time as key to their well-being and good for their relationships, it’s time to fix that. Tell your clients how you can maximize their vacation days. Make their time off so essential to their year that they would never leave any days on the table — no matter the price.
Fast Facts- According to the survey, millennials are the most likely to both give up vacation time for salary, and give up salary for vacation time.
- One in 10 Americans already have unlimited vacation.
- Of those who would give up a portion of their salary for unlimited time off, the average would be willing to give up 26%, with millennials willing to forgo 32%.
What They Are Saying“We asked Americans to literally put a price tag on their vacation days, and one-third of U.S. workers said they would be willing to take a pay cut in exchange for unlimited paid time off,” said Daniel Durazo, director of marketing and communications at Allianz Global Assistance USA. “Meanwhile half of Americans say they wouldn’t accept a job with zero paid time off regardless of the salary. For those who value their vacation days, travel insurance offers peace of mind by protecting their trip investment from any covered travel disruptions.”
The DetailsAllianz Global Assistancewww.allianztravelinsurance.com