As the weather heats up, many employees are packing their bags for a summer vacation. According to the newly-released Compensation Data 2007 preliminary results, exempt employees with five to nine years of experience have 14.4 vacation days on average. Non-exempt employees with the same years of service have 13.8 days.
The number of vacation days offered to exempt employees has changed little since 2005. Those in their first year average eight days and then, are given 10.5 days after their first year. Workers with 15-19 years of service typically average 19.5 days. A recent study by Expedia.com revealed 35 percent of U.S. employees wonít utilize all of their vacation time, and on average, each will leave three days unused.
Compensation Data 2007 also reported 56.4 percent of companies allow carryover of vacation days, and 86.9 percent place a cap on the number of days that can be carried over. The maximum number of days allowed for exempt employees is 18.5 days, compared to 17.8 for non-exempt.
As Gen Y enters the work force, many companies are looking for new ways to recruit top talent, said Amy Kaminski, manager of marketing programs for Compdata Surveys, the nationís leading compensation and benefits survey data provider. Offering extra vacation time in the recruiting process and allowing flexible schedules are two practices that appeal to this group.
In 2007, extra vacation time was offered as a recruiting tactic by 15.4 percent of organizations, which has risen from 13.7 percent in 2006. Flexible schedules are another way organizations can bolster time off packages. According to the new results, 54.3 percent of companies allow flexible schedules. When comparing prevalence among employee groups, they are most used by technical/professional employees, 41.2 percent.
U.S. Employees Pack Their Bags for a Summer Vacation
As the weather heats up, many employees are packing their bags for a summer vacation
