If your company would reply yes to any of the questions above and you aren’t offering your employees paid time off, you may want to reconsider. Many business owners who aren’t giving their employees paid time off believe that the financial responsibilities are too high in this post-recession economy. However, the benefits from offering paid time off may outweigh the financial responsibility your organization would incur.
Review the three reasons below that show why offering employees paid time off is advantageous to your business:
Attract the Best
High-performing candidates aren’t just looking for any job that’s available. These job seekers are in search of companies that offer several benefits for producing great work. Opportunities for growth, meaningful projects and having their ideas heard will keep a candidate interested in an employer. Offering additional benefits that help them balance their responsibilities outside of work could be a deciding in factor in whether they choose to invest in your company.
If you’re not paying employees when they take time off, they may not take time off. And if that’s the case, you should be concerned. Employees may work through illness and personal struggles to ensure their paychecks aren’t short because they don’t have other options. Doing this once in a while may be manageable, but in the long run, your employees will burn out. Several side effects can occur once that happens—increase in sickness, higher levels of stress, irritability, missing deadlines, mediocre work, etc. Your employees may even decide to leave to find an employer that does offer paid time off.
Get Quality Work
Giving your employees a set amount of paid sick and personal time will not only benefit them, but your organization will see the rewards as well. Allowing employees to fully recover from a cold or a rough personal patch will prove invaluable. Having time to rest, forget about work and not worry about money on their days off will help employees save energy for their return to work. Time off will assist them in staying focused to complete important projects, interacting positively with their coworkers and customers, and offering your team fresh ideas.
For additional benefits of employee time off, please call a member of CAI’s Advice and Counsel Team at 919-878-9222 or 336-668-7736.
Photo Source: Brian Reid Furniture