When it comes to work-life balance, Americans often times struggle. CBS News recently reported, “workers are leaving more than a week of paid time off on the table!” Americans take less time off than any other developed country in the world. When compared to our friends across the pond in Europe, who are legally required to take a minimum number of vacation days, Americans are seriously lacking.
Are Americans afraid to take days off? Do we fear we will lose our jobs if we do? Or are we just so busy that we can’t find the time?
The answers to those questions vary depending on the employer and the culture that has been created in the workplace. Maybe your employer offers little vacation time, and you are afraid to take days off. Are you are in a high power position and feel stressed when you do take time off? Or maybe the top executives do not use their vacation time, so the employees feel obligated to follow suit.
Balancing your work life and your personal life is something that Americans need to get a better handle on. Not just to have more fun, but to also have a healthier lifestyle. As CPAs we see all kinds of stats related to our industry and we pay extra attention to ones such as this: 62% of Big 4 CPA Firms retiring partners die within 10 years of retirement. With retirement between ages 55 and 60, this is an alarming stat – especially to us as a CPA Firm! However, we think we have a solution to a healthy work-life balance for our Principal Members and our staff. Unlimited PTO.
The LBAHS Way
Our firm offers our employees Unlimited PTO. You probably have the same question most of our employees have when hired, “Sooo, what does unlimited PTO mean?” The answer is very simple… exactly as it sounds. Our employees do not need to feel stressed about tracking and planning their days off – we understand that life happens and our employees deserve that freedom. Employees understand work needs to be done and the system should is not to be abused. With this freedom we have found a higher rate of productivity and a happier work place environment. We have also found this as a way to attract and retain top talent, and the importance of that in today’s CPA industry cannot be understated!
If you are looking for a better work-life balance, take a look at your company’s vacation plan and see how it fits the lifestlye you want for you. If you are in a position of power, you may want to think about other options or solutions to give your employees more freedom and help them maximize their potential both in their work life and in their personal life. We found our win/win solution for our work-life balance, can you?