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 Utilities survey results found employers offer employees completing one full year of service an average of 9.75 vacation days. Employees with five years of service earn on average 13.2 days of vacation. Both exempt and non-exempt employees are granted an average of 3 personal days and 10 sick days each year. Reporting utility organizations indicated an average waiting period of 119.7 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 79 percent of utility organizations allow employees to carry over unused vacation days, but 94.8 percent of those put 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 days.
Alternative time-off programs allow utilities employers to be flexible in order to meet the work-life balance needs of employees. More than 46 percent of reporting utilities organizations offer unpaid time off and 56.4 percent allow employees to sell back unused time off.
About the Survey
Compensation Data 2011 Utilities surveyed 115 industry-specific job titles and 350 benchmark titles ranging from entry-level to top executives. Data was collected from nearly 130 utilities employers reporting on more than 1,450 locations across the country. The results provide a comprehensive summary of pay data, benefit information and pay practices with an effective date of February 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.