Who doesn’t want to work less and travel more? And what about a vacation before you start a new job? The WTM Global Trends Report 2015, in association with Euromonitor International, finds out that the travel industry is keenly watching the development of a new trend in the US. Some companies such as Netflix, Evernote, Virgin Group and Gravity Payments offer unlimited holidays for their loyal and motivated staff.
Some companies have taken the idea a step further by providing holiday spending money, or ensuring employees have a vacation before their work starts, known as a ‘pre-cation’.
For example, Fullcontact, a cloud-based contact management company, offers its 18 staff members US$7,500 to take a holiday. The rules are strict: No working; no checking or making work-related emails, texts or calls and staff must go on vacation to qualify.
The trend has already reached the UK, with EST Accountants and Tax Advisors in Wales and Virgin Group offering unlimited holidays.
US workers traditionally have limited holiday entitlement compared to other countries, with no specified legal minimum. A survey by the US Travel Association in 2014 showed 40% of Americans don’t use all their holiday time, with 13% taking no paid holidays at all.
Euromonitor International’s Head of Travel, Caroline Bremner said: “The original American Dream – the opportunity for everyone to prosper and climb the social ladder – translates as long working hours and few holidays. Yet research by Expedia in 2014 showed 54% of Americans feel ‘vacation deprived’.
South Korea and Japan also have very limited holidays and are possible countries for future holiday allowance changes, according to the WTM Global Trends Report 2015, in association with Euromonitor International.
World Travel Market, Senior Director, Simon Press said: “We could soon be witnessing the end of strict vacation policies, with unlimited holiday entitlement creating a happier workforce, happier bosses and of course, a very happy travel industry, which has much to gain if this trend takes off.”