WHY IS IT A GOOD IDEA FOR EMPLOYEES TO TAKE A VACATION?
Not taking vacation time is a bad idea, as it harms productivity and the economy. These are key findings from a study released on employees in USA who received paid time off but did not take all of their allotted time. The study was commissioned by the U.S. Travel Association, a trade group, and completed by Oxford Economics.
According to the study, most managers recognize the benefits of taking a holiday from work to the employee: higher productivity, stronger workplace morale, greater employee retention, and significant health benefits.
Adam Sacks, president of the Tourism Economics division of Oxford Economics, said in a statement.
"Leaving earned days on the table harms employers by creating a less productive and less loyal employee”. “Further, it is a misconception that employers are ahead of the game when workers don't use the time they've earned,” he added. “In fact, stockpiled time off creates considerable financial liability for companies when employees ‘cash out' upon leaving employment." How can your company ease this?
The Thrive Employee Vacation Program
Corporate Travel & Leisure Management, the preferred vacation travel agency for Kenyan Business Travel Clients, is introducing a new service called ‘Thrive Employee Vacation Program’.
With Thrive, our goal is twofold:
1. To ignite employee interest to look forward to taking their time off by giving them a myriad of choice holiday destinations for them and their family with an easy pay plan.
2. To provide even further discounts for employees when traveling on vacation by combining your company’s special rates with those offered by our travel partners.
Thrive offers you the following unique benefits:
First to the employer
Taking a vacation is good for employee productivity.
It is a unique “Gift of Travel” program that can be used for company incentives, rewards, retirement gifts, or other special recognition occasions.
Second to the employee
An exclusive vacation travel service for all employees with their families.
Special CTM unadvertised promotions for cruises and vacations across the globe.
The ability to use your corporate negotiated air, car, and hotel rates for personal travel.
International airfare specials; special air fare deals.
The ability to pay for your holiday in installments.
HOW IT WORKS
To the Employer
‘Thrive Employee Holiday Program’ is informed by the adoption of a fiscal stimulus package designed as a tax incentive for corporate and business entities to encourage their employees to take holidays. The modalities of this package/tax incentive are:
It provides that expenditure on vacation trips to destinations paid by the employer on behalf of the employee will be allowable deduction.
Corporates and business entities are required to file returns to Kenya Revenue Authority (KRA) with all supporting documents on expenditures made on vacation trips for the deductions to be assessed.
There is no limit to expenditure per corporate or business entity.
The decision on when and how employees go on vacation under the stimulus package depends on the organization’s internal procedures.
Thrive works on the following payment models:
Employer pays 100% of the cost of the holiday for the employee.
Employer pays 50% of the cost of the holiday for the employee after employee performance appraisal (Incentive)
Employer pays 100% of the cost of the holiday for the employee after an agreed repayment plan from the employee.
Employer pays 100% for staff and family.
To the Employee
In today’s fast-paced work environment, ‘Thrive’ will provide every employee with an affordable, easy to pay and incentivized holiday plan to reinvigorate and bond with family.
Call or write to us today to discuss your needs!
Our corporate account managers will be at hand to help you!