Blogs

Holiday allowance, how much are you getting and what’s on offer?

16 May 2018

Paid holidays – what’s on offer for employees right now?

Our survey found that 8% of corporate and financial communications agencies give their employees a rather lean 20-22 days’ paid holiday per year; 67% give 23-25 days’ paid holiday while 23% offer 26-30 days; only 2% give a more generous 30+ days.

In-house corporate and financial communications teams fare slightly better.  4% offer 20-22 days’ paid holiday per year; 54% give their employees 23-25 days, while 40% offer 26-30 days off.  7% offer more than 30 days.

Everybody needs time off.  It’s impossible to be productive 24-7, 365 days a year. When employees matter, and the company wants long-term performance, then people know they are valued and they are comfortable taking days off.  If they're not taking all their holiday allowance, it may well be a sign of problems within the workplace culture.  If you lead a company where employees don't take allotted time off, perhaps you should re-assess your leadership and procedures, before your employees use their time off to find a new place to work. 

 

Make sure your team takes time off to recharge

In a fast-paced industry, it’s easy to fall into a cycle of pushing through too many hours or days of work – to the point where ideas that once flowed easily dry up, and tasks that should be straightforward become excruciatingly difficult.

When employees take time off to unwind and recharge, they come back glowing and ready to tackle their roles with renewed vigour.  Actively encourage them to take time off – it’s a critical element in the wellbeing of your team and your organisation.

 

It’s always OK to take time off – no ifs or buts

Many employees may find it difficult to use their full paid holiday allowance; after all, it’s counterintuitive to take a break in a culture programmed to believe that it takes near-nonstop work to clinch that deal, beat a competitor or do whatever is needed to succeed.  Rest is often considered the province of lesser mortals, and ends up being put off for a future that never arrives. If these beliefs prevail in your organisation, it’s likely that you will experience elevated employee turnover.

We all add value to the workplace, but the company isn’t going to collapse if a few members of the team aren’t there for a week or two, and they should all be aware of that.  We are not so important that we need to sacrifice our paid holiday for the chance to spend quality, uninterrupted time with our friends and family.

 

Is it time for employers to rethink their paid holiday policies?

In today’s highly competitive market for top talent, fast-growing and innovative companies are offering employees what seem to be generous incentives to stay away from the workplace.  With agencies in a ‘fight for talent’, losing some of their best players to in-house corporate communications teams, it could well be time for a rethink when it comes to policies around paid time off. 

With employees placing such high value on paid holidays – and understandably so – more flexible, generous holiday allowances may lure in the top talent that the agencies so desperately need.

It’s worth remembering that increased productivity and performance start with free time; this precious time off is the fuel for the energy, creativity and focus that lead to success.

 

If you would like to find out whether your paid holiday allowances match up, you can read more in our Annual Salary Guide – http://www.the-works.co.uk/salary-guide

Salary Survey 2017 - 2018