Nearly two-thirds (62%) of Americans don’t use all of their paid time off, according to a survey of 1,500 U.S. employees by financial technology company Sorbet. The share of Americans who don’t use all of their PTO has nearly doubled from just four years ago. The increase in unused PTO is up 14.7% since 2017. Five percent of American workers did not take any PTO in 2023. Americans had more than $312 billion in unused vacation days last year.
One-third of American employees (32%) say it’s difficult to take time off when working from home. Generation Z employees are 15% more likely to say it’s difficult to take time off. Employees between ages 21-34 take about one week less vacation time than employees over 55.
“Unused PTO is worth actual money and can be used as an additional source of compensation,” says Veetahl Eilat-Raichel, co-founder and chief executive officer of Sorbet. “PTO can also be used as a cash benefit to reduce financial stress. Employers need supportive PTO benefits in the workplace which offer employees choice and flexibility—including the ability to advance unused PTO days.”
Source: PR Newswire
