The Rise of Micro-Retirements: What's Driving the Urge for a Break

Strategic Insights -

A recent survey of 2,000 workers has revealed that nearly one-third are contemplating taking extended leave from their jobs, with most dreaming of taking a break lasting between one to three months. According to the survey, four in 10 would love to take a 'micro-retirement' to focus on their mental health, while 48 per cent would use the time to travel more and 41 per cent would use it to spend extra time with their families. The survey also highlights a growing appetite for having these moments along the way in life and not waiting for later years.

Key Takeaways:

  • 26 per cent of people have already taken a sabbatical, with this figure rising to 54 per cent among Gen Z employees, compared to just eight per cent of Boomers.
  • Over half of those surveyed used their sabbatical to travel and discover new places, while 38 per cent spent their time in nature and 28 per cent studied for new qualifications.
  • Finances, employer support, and family or home responsibilities are the biggest obstacles to taking a micro-retirement, with 26 per cent not thinking their employer would be supportive and 22 per cent having family or home responsibilities as a barrier.
  • 84 per cent of respondents felt positive about returning to work after their break, and 96 per cent had a renewed sense of purpose, coming back full of fresh ideas.
  • The most popular destinations for micro-retirements are Europe (nearly two-thirds), followed by Australia (23 per cent), North America (17 per cent), Asia (16 per cent), South America (13 per cent), and experiences not possible on a typical holiday (37 per cent).
  • Michael Edwards, managing director at Explore Worldwide, observes that people are no longer reserving big travel experiences for early adulthood gap years or retirement. Instead, they are opting for "micro-doses" of these experiences throughout their lives.

Statistics:

  • 26 per cent of respondents have already taken a sabbatical.
  • 54 per cent of Gen Z employees have taken a sabbatical, compared to eight per cent of Boomers.
  • Over half (52 per cent) of respondents used their sabbatical to travel and discover new places.
  • 38 per cent of respondents spent their sabbatical time in nature.
  • 28 per cent of respondents studied for new qualifications.
  • 84 per cent of respondents felt positive about returning to work after their break.
  • 96 per cent of respondents had a renewed sense of purpose after their break.
  • The average duration of a sabbatical is between one to three months.
  • The most popular destinations for micro-retirements are Europe (nearly two-thirds), followed by Australia (23 per cent), North America (17 per cent), Asia (16 per cent), South America (13 per cent), and experiences not possible on a typical holiday (37 per cent).

Sources:

  • OnePoll.com, a survey of 2,000 workers.
  • Michael Edwards, managing director at Explore Worldwide.