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4 Reasons Why Entrepreneurs Should Pay For Their Employees’ Vacations

4 Reasons Why Entrepreneurs Should Pay For Their Employees’ Vacations

Right now, you must thinking that the title for this article is ridiculous. Who deliberately gives their employees vacation time—and at the expense of the organization too? Heck, it’s bad enough they’re leaving work in the first place, what do we do to make up for the work they leave behind while they’re vacationing, right?

Well, that is what most bosses would think—especially those that would rather tie an employee to a chair than let them leave for an extensive vacation. Here’s the keyword: “extensive”. For some reason, we always attach words to certain things and form associations without considering other possibilities.

Who said a vacation has to be extensive?

I like the thought Alfred James expressed in his article called, ‘Why you should take a day off of work and not feel guilty about it’ (clearly, he’s not talking about an extensive vacation at all):

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“Companies don’t own us. Work doesn’t own us. It is important as free-thinking sentient beings that we don’t feel trapped and indebted to work all the time.”

Look at it this way: you don’t own your employees and your work doesn’t own them – or you for that matter. Big bad bosses who think otherwise will only foster a mindset that makes employees feel “trapped and indebted” to work.

This can eventually lead to low employee morale, less engagement, more illnesses/nervous breakdowns, unforeseen absenteeism, high employee turnover, employer-to-employee relationship issues and a host of other problems. Offering your employees an organization-funded vacation for even five-to-seven days should suffice—anything beyond that would be at their own expense

Here are four other reasons why employers should encourage and – *wince* – pay for their employee’s vacations:

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Better Physical Health

Okay, they won’t be coming back all buff and Captain American-ish, but it can’t be denied that vacation time does a lot to improve health. According to the New York Times, since stress can take a toll on your health, it’s crucial to take a vacation “just for your health’s sake”. A study conducted in 1948 and later published in 1992 called the Framingham Heart Study revealed that women who took a vacation once every six years or less were more likely to contract heart diseases. As Eaker, who carried out the study, said, there is “real evidence that vacations are important to your physical health.”

Higher Productivity

How can an employee be more productive when they return to work? By then, they have probably zoned out, with their thoughts still roaming more attractive concepts like the ocean and cocktails. But as Joe Robinson, a productivity trainer interviewed on the subject puts it, “Employees are taught to believe that bravado is the way to go – that more hours is better, but research shows the opposite.”

This also goes for employers who think productivity has a positive correlation with the number of hours worked. Research has shown otherwise. Put simply, the more work hours your employees put in, the more exhausted their minds and bodies become. Nonstop work not only increases fatigue but also stress— which is even more problematic.

According to the Oxford University survey mentioned in the same article, “75% of the managers who took time off reported feeling recharged and refreshed, and 41% said they felt “less stressed”.

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Increased Mental Power

While sleep does a lot to reset your mental energy, it can only be used in moderation on a daily basis. When levels of stress and fatigue surpass the amount of restorative ‘zzzzs’ you’ve managed to acquire, your body starts to function on ‘airplane mode’.

Agreed, yoga, exercise, and fun-filled weekends are all great ways to rejuvenate- but nothing beats the relaxation offered by vacations. According to UPMC, ranked among the top hospitals for neurosurgical care in U.S., the next time anyone wants to de-stress their brain, they should head to the sea. Marine biologist Wallace J. Nicholas states that the water triggers our “blue minds”: a state of “calm, peacefulness, unity, and a sense of general happiness and satisfaction with life in the moment.” In other words, a mental vacation for your employees means a restorative vacation for their brains as well.

Also, according to the U.S News, one of the many benefits of taking a vacation is improved mental health. As clinical psychologist Francine Lederer states, “”The impact that taking a vacation has on one’s mental health is profound. Most people have better life perspective and are more motivated to achieve their goals after a vacation, even if it is a 24-hour time-out”.

This leads us to the next point…

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Fresher Perspectives

Any good employer would want their employees to contribute to the organization in new ways through up-to-date knowledge. We may try the “adding to the talent pool” technique by hiring fresh employees with new ideas and perspectives. However, this can also be done with existing employees.

CNN reported how stepping back from work life can help you to gain insights, appreciate the current moment, and return to your life with a new sense of excitement. According to Adam Galinsky from Kellogg School of Management at Northwestern University, “Detaching from a familiar environment can help you get new perspectives on everyday life.”

A simple example illustrates this point: when you discuss a problem with your friend, the friend is more likely to offer creative suggestions and useful advice you wouldn’t have otherwise thought of. This is because the friend has psychological distance from the problem at hand and is able to think more clearly about the problem than you, as you are all wrapped up in it.

Furthermore, travelling or vacationing abroad allows employees to connect with new environments and cultures, allowing them to learn new languages, and learn about cultural diversity, and tolerance. The mind-numbing routine back at home that often forces them to function in an unproductive machine-like mode can only be broken when that routine is reset with an entirely new location and situation.

Featured photo credit: Employee Retreat via flickr.com

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Last Updated on May 15, 2019

10 Most Successful Entrepreneurs and What We Can Learn from Them

10 Most Successful Entrepreneurs and What We Can Learn from Them

Apart from making crucial decisions for their own businesses, entrepreneurs innovate and grow their ideas. Albeit there being no cookie-cutter answer that fits everyone’s experiences, taking a look at some of the most successful entrepreneurs today, you might spot some similar traits and characteristics.

Starting and nurturing a business entails a great amount of hard work and commitment. However, for aspiring entrepreneurs who are prepared to dedicate themselves to their vision, here are 10 most successful entrepreneurs you can learn from:

1. Melanie Perkins: Know Your Worth and Keep Trying

    Melanie Perkins founded Canva, a Sydney-based business valued at $1Billion having successfully raised a number of rounds of successful funding and boasting more than 10 Million users in 179 countries.[1]

    She told BBC that one of the biggest challenges she faced getting into the business was talking about her company’s accomplishments when she first got to Silicon Valley. She attributed this difficulty to a cultural difference where Australians tend to ‘talk down’ their achievements and this would slow down her fundraising progress for a few years.

    Despite hundreds of rejections, Melanie emerged three years later with a much clearer strategy and stronger investor pitch that prompted a series of fundraising rounds netting the company $82Million of funding in total.[2]

    2. Bill Gates: Keep Learning and Exploring

      If you don’t know Bill Gates, you likely know the company he founded – Microsoft.

      Bill Gates’ story is a prime example of nurturing an idea that might seem out of this world but make sense in the future. One of the most successful entrepreneurs in history did not complete his degree at Harvard University to pursue a vision that the technology would soon become the future.

      He told a white lie to Altair, saying that he had made a computer program for them, therefore pushing himself to create a system that would change modern history.

      “The most important speed issue is convincing everyone that the company’s survival depends on moving as fast as possible.”

      Gates’ success is built on self-improvement and the seeds of an idea.

      3. Elon Musk: Never Stop Innovating

        Traditional thinking suggests that in order to become a successful entrepreneur, one must focus in a single field or industry.

        Elon Musk, however, breaks that rule.

        Today, the multifaceted tech entrepreneur, investor, and engineer advocates for the diversification of skills and businesses by delving into various fields of interest.

        When done right, skills in a single domain can be carried over then applied into contrasting industries to create something new the world might need. Musk owes his accomplishments to a constant thirst for knowledge.

        Having birthed Tesla and a myriad of products across the arenas of aeronautics and software design, Musk continues to evolve as an entrepreneur and plans to innovate for the long haul.

        4. Richard Branson: Develop People First

          British entrepreneur Richard Branson founded Virgin Records in the early 1970s. Virgin Records has since grown into the Virgin Group, today responsible for over 400 companies.

          The billionaire is strongly particular about working with a team that shares his core values and aspirations.

          Branson believes that managing a business can become taxing, thus he acknowledges his employees for putting in the effort that they have.

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          A good leader knows how to raise morale for positive productivity. Utilising emotional intelligence and compassion is a game changer in seeing results within a team.

          Branson’s supports the idea of nurturing a positive work environment, with the belief that credentials must go hand-in-hand with an enthusiasm for work.

          5. Jeff Bezos: A Relentless Focus on Customer Satisfaction

            Having founded Amazon, Jeff Bezos is known to be one of America’s most successful entrepreneurs. The e-commerce pioneer fixates himself on angry customers with the belief that a business’s loopholes are found in the experiences of unsatisfied customers.

            For the 8th year in a row, customers have ranked Amazon as the number one in customer service (according to the American Customer Satisfaction Index).

            While numerous companies ignore unhappy customers, Bezos found success in learning from reviews and surveys. By focusing on customer service, Amazon shows they care, both for their customers and for rising above their competitors.

            While praise and recognition are signs that a business is accelerating, criticism is an opportunity to improve a product or a service.

            6. Mark Zuckerberg: Start Small, Think Big

              Valued at over 55 billion dollars today, Mark Zuckerberg built the first version of what would become a social networking giant in his Harvard University dorm room. As one of the world’s youngest entrepreneurs, Zuckerberg undoubtedly took countless calculated risks to get his brilliant idea to its current status with 2.38 billion active monthly users.

              “The biggest risk is not taking any risk.”

              He’s always daring to explore with a fearless mindset.

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              The young tech entrepreneur never shied away from innovating outside of the box. Soon after Facebook became a hit to users and advertisers, big corporations took interest in buying Facebook from Zuckerberg.

              However, he took the risk and decided to stay with his creation. Turning down billions of dollars offered by Yahoo CEO, Terry Semel, he envisioned turning his brainchild into something much bigger than what it already was then.

              7. Steve Jobs: Live Your Own Dreams

                Steve Jobs lived a rocky path all his life and an aspect of which is a tumultuous career.

                The founder of Apple endorsed his beliefs on the temporality of life and limitations of time. He preached about the importance of working on the very legacies people wish to leave behind, an achievement he’s undoubtedly etched into the the archives of human history.

                Never one to hide under someone’s shadow, Jobs did not live by anybody else’s principles so he formed his own. He tirelessly dedicated himself to building a unique brand of products that became the benchmark for contemporary technology.

                After his highs and lows through his brief battle with cancer, Jobs concludes with yet another lesson to takeaway from his remarkable life. “No matter how much money you have, even the richest man can’t buy time.”

                8. Warren Buffett: Balance is Essential to Success

                  Despite being the third wealthiest person in the world, Warrant Buffett sported a frugal lifestyle for most of his life.

                  After buying a house in Omaha, Nebraska for just above 31,000 dollars, he has lived there since 1958. As a leading investor and a founder at Berkshire Hathaway, Buffett believes in setting aside an amount to save and spend only on necessities.

                  With a long term goal as a top priority in mind always, treating oneself can be sustainable once in a while. He advices to save money by deciding first and foremost what aspects to scrimp on and what aspects to splurge on to ensure a happy and balanced lifestyle.

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                  9. Jack Ma: Never Give up

                    On every journey to success, everybody stumbles and arrives at roadblocks. Some more than most, like Jack Ma, who survived countless rejections and failures only to get back up and brave every storm.

                    Ma is the founder of multinational technology conglomerate Alibaba Group. Despite being rejected to Harvard after every one of his 10 applications, Ma was never defeated.

                    His grit and tenacity is a fine testament to the fact that grades do not determine a future. While qualifications on paper are important, the development of skills and an attitude is just as helpful in making a recipe for success.

                    Despite finding himself in the verge of bankruptcy in the 1990s, Jack Ma possessed the resilience to put one foot in front of the other until he finally made it. “It’s important to have patience,” he says.

                    10. Tan Min Liang: Passion Can Pay Off

                      Tan Min Liang is the founder of the leading high-performance gaming hardware, Razer. Always on the look out for new opportunities to connect and scale his business, Tan has been bold in making many of his life’s decisions.

                      Having deviated from a traditional path set by a family that consists of doctors and lawyers, Tan was to find his life’s work and passion while gaming with his older brother.

                      The idea was simple: there were so many games out there to play, however, there were hardly any gaming equipment to match this.

                      So he dropped out of law and began going a different direction, into creating solutions in the gaming industry. At the start of 2019, Tan wrote to tech luminary Elon Musk to which Musk’s reply suggested of a joint venture between two of the most successful entrepreneurs today.

                      Final Thoughts

                      In today’s cutthroat world, the road to becoming a successful entrepreneur is a long and arduous process trailed with ups and downs. A valuable lesson that a good hand of entrepreneurs would love to convey to aspiring entrepreneurs is to keep the spirit of innovation and to explore uncharted waters.

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                      Learning from experience and failure is one direction to a desired end goal. Exhibiting the same dedication and grit so many entrepreneurs have through their unexpected careers – today’s budding visionaries ought to hang on their dreams and leave room for improvement along the way.

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                      Featured photo credit: Patrick Tomasso via unsplash.com

                      Reference

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