CFA: Buying time off

PROVIDENCE, R.I. (WPRI) - Are you drooling over a trip to the islands, but don't have any vacation days left? Or are you so overwhelmed on the job that you can't even imagine leaving the job for an hour? What if you could buy or sell your vacation time?

According to Payscale, a company that conducts job related research, the average American worker receives about two and a half weeks of vacation time each year.

Not enough for some, too much for others. But with buy-sell programs, also known as cafeteria plans, everyone gets what they need.

A recent survey found 14% of companies now allow employees to buy or sell their vacation days, through payroll deductions or credits.

"We get very, very positive feedback about vacation buy and sell. Flexibility in terms of how people work, where they work, when they work is very important to employees today", said Brian Cook of the USG Corporation. However, Cook says the buy is much more popular than the sell. "About half of employees will buy a week of vacation each year. Only 10 % will sell a week."

While the buy-sell program is beginning to trend, some businesses give their employees the opportunity to donate their vacation time to fellow workers, who may be suffering a personal crisis.