The New Economics Foundation is calling for more holidays and a pay rise for the good of the British economy!
This recommendation (and its accompanying report) focuses on ways in which to improve national productivity.
The idea being that if consumers are able to spend more money, and have more time in which to spend it, the demand for products and services will increase. This, in turn, will help bolster business productivity and the wider economy.
Do we need more holidays?
Few employees would decline the opportunity to have more time off. Especially on hearing that Britons receive fewer public holidays than many of their European counterparts.
While the UK minimum stands at 28 days, EU employees receive anywhere from 30 to 40 paid public holidays each year.
This report also reflects employees’ priorities, according to a separate study…
When looking for a new job, British people prioritise:
- Their salary (98%)
- Holiday allowance (91%)
- A pension plan (89%)
- Promotion opportunities (78%)
Talking of holidays…
- Of course, the realities of increasing annual leave and/or public holidays aren’t always straight forward for everyone. It turns out that more than 500,000 SME business owners have not had a holiday themselves since 2014; primarily due to the fear of lost earnings.
- What’s more, we know that many British employees are already feeling too overburdened at work to make use of their existing holiday allowance. Plus those that take a break are prone to experiencing stress before and after their time off!
Therefore, while the ideas sound welcome, there may be additional issues to tackle in practise! In the meantime, don’t forget to use your jobs research as a chance to review your personal priorities.