The new report, The High Price of Silence: Analyzing the Business Implications of an Under-Vacationed Workforce, reveals the cost implications for businesses that ignore the power of vacation.
There is a significant disconnect between managers' beliefs and behavior. Despite overwhelming support of employee vacations, managers are much more likely to leave vacation time unused, and feel a great deal of stress and anxiety taking time off, which works its way through the rest of the company.
The report uncovers the $272 billion in vacation liability—up 21 percent since 2015—sitting on the balance sheets of the American private sector. That's the time employees can roll over or bank. But the cost of unused time goes far beyond that number. Skipping vacations means less creativity and innovation, and lower energy and productivity.
There are some enlightened companies that appreciate the power of vacation and are harnessing it for the good of their business. This report highlights several case examples of companies that are making vacation work for them. From inspiring the vision of what Starbucks has become to lowering health care costs at FullContact to teaching Deloitte Consulting's CEO that disconnecting is a great test of his talent strategy, vacation has made the difference.