CHICAGO (CNN) -- A majority of business executives said annual vacations are essential, but many of them also said they don't use all of their allotted vacation days in a typical year, according to a new study commissioned by Hyatt Hotels & Resorts.

Of the 622 executives surveyed, the majority said annual vacations are "essential" to keeping their job performance up and maintaining a positive state of mind in both their personal lives (68 percent) and at work (63 percent). Seventy percent said they would not trade one week of vacation time for a 10 percent raise.

However, executives don't always use all of their vacation time. Half of the executives surveyed said they don't take all of the time allotted to them for the year. Top executives are even less likely to use all their vacation days -- 61 percent said they don't use all their allotted time.

The results of the survey show that American business people work very hard, said Dr. Mark Walker, a psychiatrist affiliated with Northwestern University Medical School who is helping Hyatt interpret the study.

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"It indicates that American executives do realize the value of vacations even though they don't always act on that knowledge," he said. "They take their jobs very seriously, and while they wish for more vacation and value more vacation, they basically consider work the highest priority."

The survey showed that many executives take work with them when they do go on vacation. Seventy-five percent call into the office, 71 percent check their phone messages, 60 percent receive phone calls or e-mail from the office and 54 percent have spent time doing office work.

About one in four executives, 24 percent, packed their laptop computers along with their sunscreen and swimsuits. Twenty-eight percent had to cancel vacations, and 14 percent were forced to cut them short because of work matters.

The survey also revealed a gender gap when it comes to using vacation time: Fifty-eight percent of men surveyed said they don't take all their vacation days, while 43 percent of women said the same thing.

"The women use their vacation more because, I think, they feel more responsible for taking care of their families, so their spouses and their children affect their decisions about vacation, whereas the men are more purely focused on work," Walker said.

Most executives said they shed work stress quickly once they do close their offices and go on vacation. Forty-nine percent said it takes only one day to get work off their minds. By day three, 81 percent have blocked out work enough to relax and enjoy their vacations.

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However, 11 percent said they can never forget about work and enjoy themselves while on vacation. Those of the highest ranks are most likely to keep work concerns on the front burner.

Executives should use their allotted vacation time and reduce the amount of work they do on vacation, Walker said.

"I think it would be preferable if they could have longer breaks where they truly felt that they got away from work," he said. "Vacation is not just getting away. It's about regaining control of your life, over your time.

"Ideally, people who have had a successful vacation return more objective, flexible and creative and patient toward their work. If people truly never feel a break, they risk burnout."

Executives can maximize the benefits of vacation time by doing things they often don't have time for at home, such as being more romantic with their spouses and becoming more involved with their children, Walker said.

People have different ways of relaxing, he added.

"It's important to learn what works for you so at the end of the vacation you really do feel like you had a break from your work," said Walker, who was on vacation when he was interviewed for this story, but said he would try to take his own advice in the future.

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The survey, called "Spreadsheets to Sunshine: Executives on Vacation," was commissioned by Hyatt and conducted by Roper Starch Worldwide Inc., a New York-based market research and public opinion polling firm. It has a margin of error of about 4.6 percent.

Executives qualified for the survey if they had taken a vacation lasting at least five consecutive days in the previous 12 months. A total of 622 executives were surveyed -- 450 by telephone and 172 online.

Some of the survey's other findings are:

Few executives (11 percent) said their boss makes them feel guilty for taking a vacation.

The survey presents some evidence that guilt is either self-generated or brought to bear disproportionately on women (15 percent, versus 7 percent of men) and young executives (17 percent of those under 35 versus 10 percent of those older).