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Treasuring Time Off

Everyone loves a day off. We wait longingly for three-day weekends and savor them when they arrive. The familiarity of the expression TGIF indicates how thoroughly the value of the weekend permeates our society.

Human Resource experts report that time off from work is now considered the second most valuable benefit, second only to health care. In late 2004, Salary.com asked almost 5,000 site visitors if they would prefer a $5000 increase in base pay or the equivalent in time off. It is no surprise that the majority wanted the money. The startling fact is that a full 39% said they would prefer the time off. This is up nearly 20% from a similar survey conducted in 2001.

IT workers seem especially effected by this trend. The over-demand and under-supply of qualified tech workers has created an environment were staffers are required to work long hours and be on call too often. Added to the supply issues is the changing economy and mergers and acquisitions that have led to massive layoffs. This leaves remaining workers to pick up the slack and frequently do the work of two or even three people. It is no wonder they live for a day off.

In many cases, following several years of lay-offs and cost cutting measures, workers are less inclined to believe that hard work and long hours will pay off. Placing work before their personal life just doesn’t seem to have the career benefits it once did. As a result, they are demanding more time off.

Many employers will offer extra time off, when negotiating a new hire. However, that time off frequently does not apply to subsequent years. It is also possible to arrange for extra time off for a one-time event, such as a wedding or a special vacation, but again, this is a one-time deal.

Staffers need to realize that they must set their own priorities and create their own work/life balance. No one else can do this. Even the best employers can’t.

Smart employers, however, will work harder to facilitate this balance for their employees. Successful companies will recognize that people value forms of compensation beyond money. They will implement policies that are designed to satisfy the needs of valued employees.
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