Deciding on Paid Vacation Time

You want happy employees and know you can have them when you offer good benefits such as providing medical insurance and purchasing an office space. Paid vacation time is one benefit that will make any employee feel appreciated. A happy employee will most likely do a much better job than one who feels as if they are being worked too hard for too little pay or feels they receive too few paid sick or vacation days.

You know that time off from work is truly essential not just to your employees mental health but also to doing the best job they can when at work. A good week away from work helps them to return with renewed energy, better focus and a fresh outlook. The problem may be that you, as a small company owner, have a few corners to cut. As much as you would like to give everyone four full weeks of paid time off for vacation, you just cannot afford to do so.

Meeting and Beating the Competition

If you feel or, your budget and your accountant flat out tell you, that you cannot afford to give much in the way of paid vacation time, you may want to consider a few things. A nearby competitor might be offering all employees a week of paid vacation time. One week of vacation time may not seem like a lot, but it would probably sound very enticing to a potential hire.

The potential hire would probably take the position offered by the company paying for time off over the position your company offered. It may not seem like a big deal. You can simply keep searching for new employees until the right ones come along. But, even if hiring some of these employees works out and you continue to offer no paid time off, it might still become a problem for you in the future.

In the first place, your competitor, or other businesses known for treating their employees well, might attract potential hires away from your business. In the second place, employees without the paid vacations might have a shorter stay with your firm or shop. In the beginning stages of the job, they might want to do a very good job of showing you the best of their abilities. Over time they may start to grow weary if they are not offered more benefits especially in the way of paid vacations.

This may lead them to a lower morale on the job and a lower quality work output. The above situations might illustrate how not paying vacation time could actually cost your company. Think of the vacation time you pay as a real investment in your employee's esteem and overall good health. This, in turn, truly winds up becoming an investment in the continued success of your business.

Fitting Vacation Time in the Budget

If you are short on funds, but do not want to short-change your valued help you could offer a week off without pay for the first year they are there. Then, if they stay on offer a week or two of paid vacation time. This creates a win-win situation for everyone.

You get to test out a new hire, and they get to simultaneously test out the new work environment. They will also look forward to their paid vacation time as motivation to stay for the long term. Deciding on paid vacation time affects any business budget. In the long run it might help your company earn more to offer it. Affordable options exist, so think of the happiness of your employees and create a vacation policy that benefits everyone.

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