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Rearranging paid time off packages
Benefits & Compensation
Rearranging paid time off packages
Exchange ideas about health plans, retirement, work/life benefits, and employee assistance.
Currently our company offers 12 paid holidays; 12 paid sick days/year; 1 personal leave day 1st year, 2 the 2nd year and 3 the 3rd and every year thereafter; AND 10 vacation days 1-3 years, 15 vacatio
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Forums » Topic Forums » Benefits & Compensation » Rearranging paid time off packages
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Rearranging paid time off packages
posted at 10/25/2000 7:16 AM EDT
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Posts: 11
First: 10/25/2000 Last: 6/26/2001 |
Currently our company offers 12 paid holidays; 12 paid sick days/year; 1 personal leave day 1st year, 2 the 2nd year and 3 the 3rd and every year thereafter; AND 10 vacation days 1-3 years, 15 vacation days 4-6 years and 20 vacation days every year thereafter. We are considering doing away with the different categories and just having "PAID TIME OFF". Does anyone have any suggestions on how to do such a transition?? The employees have suggested doing this so they do not have to specify why they are taking off. However, the employees don't want to lose any days! |
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Rearranging paid time off packages
posted at 10/26/2000 2:22 AM EDT
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Posts: 17
First: 10/7/2000 Last: 7/6/2004 |
This is a really great article on that very subject - along with a step by step evaluation of the process.
http://www.workforce.com/archive/feature/00/02/24/ |
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Rearranging paid time off packages
posted at 10/26/2000 8:34 AM EDT
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Posts: 8
First: 4/28/2000 Last: 6/1/2009 |
We're doing just that early in 2001. Here's the plan:
1.Leave holidays as holidays, not included in the PTO plan. 2. PTO = former vacation time + 5 additional days per year for FT people. 3. Extended Sick Leave bank = 7 days accrual per year. ESL is accessed after 3 consecutive days of illness from the PTO bank. |
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Rearranging paid time off packages
posted at 11/1/2000 6:05 AM EDT
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Posts: 1
First: 11/1/2000 Last: 11/1/2000 |
Would NOT recommend doing what my company did:
"Merge" sick and vacation pay into one account, reducing total number of days (win for the company, lose for the employees). I.e. formerly had 10 days vacation, 10 days sick, replaced by 15 days PTO. What does this do? Motivates employees to look at PTO as "vacation only" account. Why take a "vacation" day when sick? Preferable to come to work sick and save the time off for when you are feeling better. Also, all "personal business" time off has been removed. You now have the "benefit" of being able to flex your time around that doctor or dentist visit, or other necessary errand during normal hours. |
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