Everyone loves vacations but what is the true cost of your vacation?
Well, first their is the cost of your actual vacation - the travel, hotel, food, etc. but then there is the hidden cost that is actually a LOT more expensive. You have to factor in the cost of your office for your week(s) off. You have a ton of overhead during your time off and no revenue coming in to offset your costs.
This means that every day you are closed has to be supported with revenue generated during your time on. The more weeks off, the more money you must generate during e weeks in to cover your down time.
Staff members rarely understand the true cost of your closing the office and giving them a paid vacation. They take it for granted that paid vacations are just part of the perks of working.
I find it helps to let your staff understand the true cost of their weeks off. Having a staff meeting to help them understand that the rent needs to be paid, insurances, salaries, utilities, phones, loan payments, borrowing costs, etc. They should understand that their free time is not free.
Bringing the staff into the overhead discussion often makes them appreciate the vacation time you give them. It often gives them incentive to find ways to increase revenue so that they can justify more vacation time.
A profitable business can afford to do MORE for their staff members - higher pay, more vacations, better benefits, new equipment, etc. Bring your staff into the conversation.
Dr. Corey Gold
President - Advanced Continuing Education Systems
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