Forty three per cent of top executives are saying goodbye to their holiday plans this summer because of the recession, according to a study by TheLadders.co.uk released today. The leading executive careers site asked over 500 of Britainís bosses about their summer holiday, finding that two thirds have changed their plans because of the recession.
Of the 63% who have changed their plans, over half (53%) reveal a holiday budget cut whilst nearly a quarter (24%) of respondents told the senior job site that they plan to stay behind their front door and not go anywhere. Twenty seven percent of top execs will holiday in the UK because of the weakness of the pound, whilst 18% are trying new ìcheaperî options like camping and caravanning.
TheLadders.co.uk study also found that 47% of Britainís bosses didnít feel comfortable taking a holiday under current conditions, with 19% citing that their job seems more unstable and 18% saying the expenditure of a holiday was ìunnecessaryî at the moment.
Derek Pilcher, Managing Director of TheLadders.co.uk understands that many senior executives may be feeling the pressure to stay at work this summer but he worries that this can cause additional recession stress. He says: ìHaving a strong work ethic is admirable in times of economic difficulty but with commercial pressure comes great stress. Being able to put some distance between yourself and your office can bring greater perspective, often giving rise to great ideas and problem solving that you would never realise at your desk. So our message to executives both in and out of work this summer is have a break, however small. It could make all the difference to your career.î
Nearly half of all top execs have canceled holiday plans this year
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