During the recession, a well-developed time-off program was essential for companies looking for a way to compensate employees without stretching already-thin budgets. Now, as companies push toward recovery, time-off programs are one of the cornerstones of highly competitive compensation programs attracting the best talent.
The 2011 Compensation Data Services survey results found employers offer exempt employees completing one full year of service an average of 10.6 vacation days, while non-exempt employees receive 9.8 days. Exempt employees with five years of service earn on average 14 days of vacation, compared to 13.7 days for non-exempt employees. Both types of employees are granted an average of four personal days and seven sick days each year. Reporting services organizations indicated an average waiting period of 81.7 days for employees to receive time-off benefits after the start of employment.
“Maintaining a healthy work-life balance is more important to workers today than ever before,” said Amy Kaminski, director of marketing for Compdata Surveys, the nation’s leading pay and benefits survey data provider. “By developing a comprehensive time-off program, employers are helping their employees achieve this balance, and are often rewarded with increased productivity in return.”
More than 66 percent of services organizations allow employees to carry over unused vacation days, but 82 percent of those place a limit on the number of days eligible for carry-over. Exempt employees accruing vacation by years of service may carry over an average of 26 days, while non-exempt employees may carry over an average of 25.7 days.
Alternative time-off programs allow services employers to be flexible in order to meet the work-life balance needs of employees. Nearly 75 percent of reporting services organizations offer unpaid time off and nearly 38 percent allow employees to borrow days from future accrual.
About the Survey
Compensation Data 2011 Services surveyed more than 75 industry-specific job titles and 350 benchmark titles ranging from entry-level to top executives. Data was collected from more than 400 services employers reporting on more than 2,800 locations across the country. The results provide a comprehensive summary of pay data, benefit information and pay practices with an effective date of January 1, 2011.
Compdata Surveys is the nation’s leading compensation and benefits survey data provider. Thousands of U.S. organizations provide data each year ensuring the reliability of our results. Compdata Surveys has been providing comprehensive data at affordable prices to organizations from coast to coast since 1988. For more information about our compensation and benefit surveys, contact Michelle Willis at (800) 300-9570.