Getting away on vacation allows for recharging both physically and mentally, yet many working Americans aren’t able to take an out-of-town vacation, primarily due to the cost involved, according to a recent Harris Poll on behalf of Purchasing Power.
Rested employees are more productive employees, so employers who provide benefits that offer affordable ways to purchase vacations, such as those our employee purchase program offers, will improve employee morale and their company’s bottom line at the same time. As Jack Craver’s article in BenefitsPro.com points out, more employers should offer employee purchase programs that include vacation packages to make it easier for workers to get away.
Giving employees the opportunity to payroll deduct budget-friendly payments provides an affordable way for employees to take an out-of-town vacation and offers an alternative to high-interest credit cards. For example, a $2,000 vacation paid for with a credit card at an 18 percent interest rate will take almost ten years to pay off if the buyer only chooses to make the minimum payment of 4 percent of the balance. Using credit to pay for vacation may be a good option for employees who qualify for prime credit and are able to make full payments, but usually it is not the best choice for many consumers who are only able to pay off their minimum balance.
Our employee purchase program includes a variety of vacation options (hotels, cruises, destination resorts and all-inclusive resorts) that appeal to workers across all demographics and they can have the cost deducted from their paycheck through manageable payments over 12 months.
Download Purchasing Power’s latest infographic on this topic, Vacations: A Luxury or A Necessity?.
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