The worst days of the pandemic are long behind us, but the world is still reeling from its aftereffects. For some people, this has driven a dramatic reprioritizing of what’s important in their lives, including where they work and the kind of energy they’re prepared to give to the company that employs them.
According to a new survey, one result of the pandemic aftershocks in the workforce is a sharp rise in how much people want to take time off to travel. Younger Americans are so keen to vacation, in fact, that they’re putting off big life decisions and even going into debt. Not only could this shift in priorities affect your business if you’re trying to attract young customers, but it may change how you think about your own staff’s working hours.
The data comes from a new survey of a thousand Americans by financial services company Empower, Fortune reports. Headline numbers from the report are that over 90 percent of people are planning domestic travel this year. Plus 33 percent have said they’re not going to wait until retirement to “see the world”–they’re doing it now, instead. And when it comes to money, 47 percent of people said they would spend more on travel this year than last. Even more strikingly, one in five Millennial workers are postponing plans for big purchases, like a home, and will spend the money on travel instead.
While the vast majority of workers, 61 percent, said they plan to travel in the summer, 34 percent said they will travel in out-of-season time, and 24 percent said they’d travel for birthdays–these last are both types of trip that are likely to impact their regular work schedule, since they don’t revolve around typical vacation times. In particular, Gen-Z staff, at 28 percent, said they were more likely than older generations to travel for their birthdays, and a quarter of Gen-Z staff liked to plan their trips four weeks or less ahead of time–meaning they’re more likely to spontaneously ask for time off than older employees.
Fortune quotes Christie Hudson, head of public relations at online travel firm Expedia, who says that a “significant share” of respondents to a similar, recent Expedia survey plan to travel “no matter what” this year. “In terms of attitude and valuing experiences over things, that whole mentality, people seem very aligned” in the post-pandemic era, she said.
This news is playing out as many people continue to feel considerable economic stress thanks to inflation, and amid an epidemic of “quiet vacationing“–remote workers just continuing to work as if they’re at home, but taking a trip without telling their employer, simply because they don’t want to seem like they’re slacking, or can’t afford to take time off.
More vacation time and more flexible vacation policy may be anathema to many more traditional U.S. employers–the kind rattling their sabers with strict back-to-office rules because they think staff labor is proved by their grinding away for long hours right where they can see them. But Empower’s data shows more employees–of all ages–are planning vacations. Younger workers (who already dislike the grind of the “traditional” workplace) aren’t shy about showing they want to travel more spontaneously and even postpone big life plans to do so. To attract and retain them, it might be worth reevaluating your company’s PTO policy.
An Ernst & Young study shows why this could be a good idea: For each extra 10 hours of vacation time an employee took, their year-end performance jumped 8 percent. Another survey showed that if a staff member takes all their vacation time, they’re actually boosting their chances of getting a raise or promotion. Plus if you want to attract new younger workers, advertising your more generous vacation policy–including, perhaps, relaxed summer work hours–may actually help you recruit or retain Gen-Z staff.
Something to think about as you relax and watch the fireworks this upcoming long weekend.
—Kit Eaton
This article originally appeared on Fast Company’s sister site, Inc.com.
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