Many employers already benefit by offering paid vacation time and encouraging employees to use it - here are some of the specific ways that doing so can be good for business:
- Fewer sick days taken
- Fewer workers’ compensation claims filed
- More energy and motivation after their return
- Increased job satisfaction
- Increased productivity
- Reduced use of healthcare benefits
A travel stipend can help attract talent
Offering an employee travel stipend to spend on their vacations is a hugely attractive benefit to offer for attracting talent. It's a benefit that isn't standard, would appeal strongly to individuals who already love to prioritize travel on their off-time and most of all.. .who wouldn't be excited to say "my company pays for my vacations"?
A travel stipend can also help retain talent
For your employees who have benefited from and become accustomed to this unique offering, it's very likely that it'll be a reason they stay longer at your company. This is especially true if you also have a healthy company culture that supports and appreciates their experience and contributions as an individual.
If you're interested in exploring a travel stipends or any other type of stipend for your company, talk to a Compt stipend expert who can help you set up and manage your ideal program.