NextGreatPlace, Inc. (www.nextgreatplace.com) today officially announced “Work Vacation Balance” (www.workvacationbalance.com), an innovative corporate benefit program that improves employees’ satisfaction, loyalty, retention and performance by optimising their vacation time.
NextGreatPlace is a private membership network that orchestrates vacations for families, couples and groups to favorite and unfamiliar places using innovative online technologies, personalised service, and deep vacation expertise. By participating in the vacation benefit program, employers can provide employees with access to NextGreatPlace’s suite of benefits to make the most of their time away from the office.
“Employees who vacation well are happier, more innovative and better employees, which is why this program has been so well received by our business clients,” explains Tom Filippini, CEO and Founder of NextGreatPlace. “Companies who attract and retain the best talent are the winners. They know that an investment in their employees is an investment in their company.”
While American workers value their vacation experiences and are proven to perform better on the job after quality vacation time, they take less than half the vacation time of their European counterparts and collectively forfeit nearly 500 million vacation days each year, according to Expedia’s Vacation Deprivation Study in 2011. This comes at huge cost to American companies—as employee performance suffers, healthcare costs rise, burnout increases, and the potential financial payout liability of accrued, unused vacation time balloons.
T3Media, Inc., a leading global provider of cloud-based video management and licensing services is one of several leading businesses participating in NextGreatPlace’s Work Vacation Balance program.
“As a company, we are always looking for ways to recognise our employees for their hard work and dedication so we were immediately intrigued by the NextGreatPlace vacation benefit program,” said Steve Joanis, President of T3Media. “While I’ve seen many programs focused on physical health and wellness, this was the first I’ve seen that addresses the importance of vacation time, which we have found to be a key contributor to satisfaction and results, so we immediately signed on. The response from our employees has been overwhelmingly positive.”
There are multiple benefits to both employees and employers through the vacation benefit program.
Company benefits include:
· Differentiated Benefits Package Improves Recruiting and Retention. Business clients of NextGreatPlace are able to offer their employees unrestricted memberships – a $500/year value per employee – for a significantly reduced annual fee. This sets companies apart in attracting and retaining the best talent.
· Direct Financial Return on Investment. Clients benefit financially by reducing the on-the-job vacation planning of key employees and the payout liability of unused vacation time. NextGreatPlace estimates that the average employee spends over 40 hours per year planning vacations while at work.
· Corporate Goodwill. Each employee is “gifted” a membership to NextGreatPlace by their employer. By underscoring the importance of vacations with friends and family, companies are able to express to employees that their time away from the office truly matters.
Employee benefits include:
· Company-Sponsored Membership in NextGreatPlace. Each employee is provided an unrestricted membership in NextGreatPlace – a $500 value per year.
· Access to a Personal Vacation Assistant. Each employee has a personal vacation assistant that gets to know their family’s travel preferences and dreams. The assistant shoulders the burden of vacation research and planning to help maximise time away from the office.
· Private, Exclusive Vacation Pricing & Value. Employees gain access to special pricing and offers through the NextGreatPlace network of vacation suppliers that they simply couldn’t find on their own.