By Bill Stoller, Express Employment International CEO
After kicking off the traditional start of summer last weekend, many employees across the U.S. enjoyed some much-needed rest and relaxation away from work, but will this be the last time they kick back for the season other than Fourth of July and Labor Day, if that?
By all appearances, workers should be hitting the road this year or taking to the skies to use some well-earned vacation time. Consumer spending was up 18% in March of 2022 compared to 2019, despite record inflation. And after two years of COVID-19 restrictions, people are ready to get away for what is being called "revenge travel."
However, another record-11.5 million job openings-may force employees to forego accrued leave to keep up with labor demands, ultimately contributing to increased burnout and turnover.
It may seem counterintuitive to encourage staff to take days off when so many are already struggling under suffocating workloads, but it could be just the retention strategy needed to avoid the headache of not only filling open positions but also rejuvenating exhausted workers.
In a recent survey from the American Psychological Association, roughly 6 in 10 (59%) working Americans said they have felt the negative impacts of work-related stress such as a lack of interest, motivation or energy (26%), difficulty focusing (21%) or a lack of effort at work (19%). Further, 35% have felt fed up at work quite frequently or more often in the past 30 days.
With literally millions of other options for employment right now, workers are looking to leave for better conditions in this "employee-first market."
Two in five U.S. workers (44%) plan to quit their jobs in the next 12 months, an increase from 32% in 2019 (the survey was not conducted in 2020). And they are leaving quickly as only 55% gave their last employer two weeks' notice, according to a survey from The Harris Poll in conjunction with Express Employment Professionals.
The same survey found that total annual employee turnover costs soared from $26,500 to nearly $46,000 in 2022, which could mean businesses will take a hit to their bottom lines if they don't take care of their workers' mental well-being this summer.
Time away from the office leads to physically healthier employees, too. In one study, researchers discovered people who took vacations more often reduced the risk of having a metabolic syndrome such as high blood pressure, excess belly fat and cholesterol issues. Another found that middle-aged men with a high risk for heart disease who took yearly vacations saw their risk reduced for dying from any cause.
And overall, employees who unplug are more productive upon return, refreshed as vital members of your organization.
To help minimize the impact when employees go on vacation, plan ahead. Enlisting the services of a proven staffing provider such as Express Employment Professionals can help secure workers during those brief staffing shortages, ensuring business continuity and productivity.
I hope we see more workers come off the sidelines soon to fill the multitude of open positions, but until then, this summer, invest in the top talent you already have.
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If you would like to arrange for an interview with Bill Stoller to discuss this topic, please contact Sheena Hollander, Director of Corporate Communications and PR, at (405) 717-5966.
About Bill Stoller
William H. "Bill" Stoller is chairman and chief executive officer of Express Employment International. Founded in Oklahoma City, Oklahoma, the international staffing franchisor supports the Express Employment Professionals franchise and related brands. The Express franchise brand is an industry-leading, international staffing company with franchise locations in the U.S., Canada, South Africa, Australia and New Zealand.
About Express Employment Professional
At Express Employment Professionals, we're in the business of people. From job seekers to client companies, Express helps people thrive and businesses grow. Our international network of franchises offers localized staffing solutions to the communities they serve across the U.S., Canada, South Africa, Australia and New Zealand, employing 586,000 people globally in 2021 and 10 million since its inception. For more information, visit ExpressPros.com.