Forums
Vacation and Paid Time Off (PTO) Benchmark
Benefits & Compensation
Vacation and Paid Time Off (PTO) Benchmark
Exchange ideas about health plans, retirement, work/life benefits, and employee assistance.
I am collecting data to benchmark our paid time off (vacation, sick, holidays) policies against. To remain competitive in the industry, we believe we need to adjust our paid time off policies (e.g. in
0
Cat:Topic ForumsForum:ForumId52
Cat:Topic ForumsForum:ForumId52Discussion:DiscussionId31108
Forums » Topic Forums » Benefits & Compensation » Vacation and Paid Time Off (PTO) Benchmark
|
Vacation and Paid Time Off (PTO) Benchmark
posted at 2/21/2006 4:44 AM EST
|
Posts: 2
First: 2/21/2006 Last: 3/6/2006 |
I am collecting data to benchmark our paid time off (vacation, sick, holidays) policies against. To remain competitive in the industry, we believe we need to adjust our paid time off policies (e.g. increase vacation accrual amounts) or switch to a PTO structure.
I am hoping through this forum we can all help each other by sharing what our company's policies are. What's in it for you? If you are interested in the summary results I collect from this forum and other sources, I will forward you a copy of my spreadsheet ... nothing too fancy, but should be helpful if you need data to benchmark against. Specifically, I am looking for (and please feel free to add other categories): 1.) Company Name (optional): 2.) Company Industry: 3.) # Employees: 4.) PTO or Vacation Policy (accrual rates over the years, by level in organization): 5.) # Hours Vacation/PTO Caps: 6.) Do have a vacation/PTO donation option (e.g. can donate time to other employee in need): 7.) Do have a vacation/PTO purchase program (e.g. employee can purchase additional time off): 8.) Do have a vacation/PTO cash out option (e.g. employee can cash out portion of their vacation balance): 9.) # Sick Days: 10.) # Floating Holidays: 11.) # Company Holiday: 12.) Do you offer time off to volunteer (# hours/yr): 13.) Do you offer sabbaticals (required tenure, length of sabbatical, paid/unpaid/partial): ANSWERS FOR MY COMPANY: 1.) Industry: Financial 2.) # Employees: Approx. 1000 3.) PTO or Vacation Policy (accrual rates over the years, by level in organization): Vacation policy where most employees (below the Director level) start with two weeks vacation, which increases to three weeks after the 5th anniversary, four weeks after the 10th anniversary, and five weeks after the 25th anniversary. Director level and above start at three weeks vacation a year, four weeks after the 10th anniversary, and five weeks after ther 25th anniversary. 4.) # Hours Vacation/PTO Caps: 1 - 5 years of service = 3 weeks; 6 - 10 years of service and Directors = 4 weeks; 11 - 25 years of service = 6 weeks; 25+ years of service = 7.5 weeks. 5.) Do have a vacation/PTO donation option (e.g. can donate time to other employee in need): No. 6.) Do have a vacation/PTO purchase program (e.g. employee can purchase additional time off): No. 7.) Do have a vacation/PTO cash out option (e.g. employee can cash out portion of their vacation balance): No. 8.) # Sick Days: 15 days/year 9.) # Floating Holidays: 3 floating holidays/year 10.) # Company Holiday: 8 holidays/year 11.) Do you offer time off to volunteer (# hours/yr): No official policy. 12.) Do you offer sabbaticals (required tenure, length of sabbatical, paid/unpaid/partial): No. I would greatly appreciate your participation or directing me towards other sources of information to benchmark against. |
|
|
Vacation and Paid Time Off (PTO) Benchmark
posted at 2/27/2006 5:07 AM EST
|
|
Posts: 1
First: 2/27/2006 Last: 2/27/2006 |
This is a good way to get data - asking a work group. I thought that I might add that you can go to competitor websites, click on careers and benefits and see what you get. I was able to get good competitive data in my industry. Let me know how it goes.
Deb |
|
|
Vacation and Paid Time Off (PTO) Benchmark
posted at 3/1/2006 7:38 AM EST
|
|
Posts: 37
First: 6/1/2001 Last: 5/4/2009 |
While I would prefer to keep my company's name confidential, here is the information you requested:
1.) Company Name (optional): 2.) Company Industry: PEO 3.) # Employees: 1700+ 4.) PTO or Vacation Policy (accrual rates over the years, by level in organization): 0-4, 4 weeks max PTO 5-10, 5 weeks max PTO /> 10, 6 weeks max PTO Any employee can "cash out" a maximum of 40 hours of earned PTO at the end of the year. 5.) # Hours Vacation/PTO Caps: 6.) Do have a vacation/PTO donation option (e.g. can donate time to other employee in need): Yes 7.) Do have a vacation/PTO purchase program (e.g. employee can purchase additional time off): No, but we do allow negative accrual in special circumstances. 8.) Do have a vacation/PTO cash out option (e.g. employee can cash out portion of their vacation balance): 9.) # Sick Days: 10.) # Floating Holidays: 2 11.) # Company Holiday: 8 12.) Do you offer time off to volunteer (# hours/yr): 4 hours/ month 13.) Do you offer sabbaticals (required tenure, length of sabbatical, paid/unpaid/partial): no |
|
|
Vacation and Paid Time Off (PTO) Benchmark
posted at 3/14/2006 3:20 AM EDT
|
|
Posts: 12
First: 6/29/2004 Last: 8/6/2008 |
2.) Company Industry: TPA (insurnace)
3.) # Employees: 75 4.) PTO or Vacation Policy (accrual rates over the years, by level in organization): 3.34 hours per pay period (we are paid 2x/month); rate increases to 5 hours per pay period January 1 of the Ee's 11th year of service 5.) # Hours Vacation/PTO Caps: 120 hours <10 years of service; 160 hours 11+ years of service 6.) Do have a vacation/PTO donation option (e.g. can donate time to other employee in need): No 7.) Do have a vacation/PTO purchase program (e.g. employee can purchase additional time off): No 8.) Do have a vacation/PTO cash out option (e.g. employee can cash out portion of their vacation balance): No 9.) # Sick Days: Earn 80.16 hours per year; max allowed is 176 hours 10.) # Floating Holidays: 0 11.) # Company Holiday: 7 - 8 12.) Do you offer time off to volunteer (# hours/yr): Depends 13.) Do you offer sabbaticals (required tenure, length of sabbatical, paid/unpaid/partial): No We also have Paid Personal Days....Ees earn their first one the Janaury following their one year anniversary and get an additioanal one each Janaury thereafter, up to a maximum of 5 |
|
|
Vacation and Paid Time Off (PTO) Benchmark
posted at 3/14/2006 4:45 AM EDT
|
|
Posts: 1783
First: 11/11/2003 Last: 5/13/2010 |
You may want to contact your local industry association, SHRM or World at Work chapter to see whether they've recently sponsored a benefits survey. The information may be more relevant to your local market than what you collect here. |
|
|
Vacation and Paid Time Off (PTO) Benchmark
posted at 5/5/2006 1:03 AM EDT
|
|
Posts: 1
First: 5/5/2006 Last: 5/5/2006 |
This is great! I'm currently looking for this info as well.
1.) Company Name (optional): 2.) Company Industry: Building supplies distributor 3.) # Employees: 3100 4.) PTO or Vacation Policy (accrual rates over the years, by level in organization): Vacation - accrue 1 day/mth starting after 2mths of employment up to 10days yrs 1-5; in yr 5 accrue 1 day/mth up to & incl anniv. mth, then accrue 1.5 day/mth through Oct; in yr 6 accrue 1.5 days/mth to a max of 15 days 5.) # Hours Vacation/PTO Caps: 10 days in yrs 1-5 up to 15 days in yr 6. cannot accrue more than the max in any given yr. must use days before accruing more 6.) Do have a vacation/PTO donation option (e.g. can donate time to other employee in need): NO 7.) Do have a vacation/PTO purchase program (e.g. employee can purchase additional time off): NO 8.) Do have a vacation/PTO cash out option (e.g. employee can cash out portion of their vacation balance): NO 9.) # Sick Days: no policy. just take sick days that you need 10.) # Floating Holidays: 0 11.) # Company Holiday: 11 12.) Do you offer time off to volunteer (# hours/yr): NO 13.) Do you offer sabbaticals (required tenure, length of sabbatical, paid/unpaid/partial): NO |
|
|
Vacation and Paid Time Off (PTO) Benchmark
posted at 5/6/2006 4:27 AM EDT
|
|
Posts: 198
First: 5/6/2006 Last: 8/29/2011 |
Hi. I just joined your forum today and saw the post about PTO. My company just went to PTO from the standard Vacation/Sick January 2005, and then revised it as of January 2006. We do it on an accrual basis from anniversary to anniversary, which was a nightmare because we used to use the calendar year. Here is the info on my company
Approx 9600 employees, but probably only 2700 are full time and benefits eligible. PTO accrues starting at the 6 month annivesary at a rate of 2.46 hours per biweekly pay period for the field, 4.00 hours per biweekly pay period for home office. For hourly associates, it is accrued on an hours worked (or hours paid) basis. For salaried associates, it is standard. For field 1-2 years merits 8 days, after that it is just like home office. HO 1-5 years merits 13 days, 5-10 years 18 days, 10-15 years 20 days, and over 15 years 23 days. (correct me if I am wrong, but I believe this is below industry standard) Other issues, an associate may go into the negative up to 40 hours on their accrual and still be paid. And can carry over up to 40 hours into their next anniversary year. Cathy |
|
|
Vacation and Paid Time Off (PTO) Benchmark
posted at 5/8/2006 2:07 PM EDT
|
|
Posts: 1
First: 5/8/2006 Last: 5/8/2006 |
Hi - I am working on the same project so this post is timely for me. One question for those who have changed their vacation accrual is how it was rolled out and were there any concerns/challenges by long-term employees? Someone suggested that long-term employees might feel slighted that this rollout did not happen earlier, even though they will still benefit from a better accrual.
1.) Company Name (optional): 2.) Company Industry: Software/Services 3.) # Employees: 750 4.) PTO or Vacation Policy (accrual rates over the years, by level in organization): Vacation 5.) # Hours Vacation/PTO Caps: 1st through 36th month 80 hours/year Cap is 180 hours 37th through 120th month 120 hours/hear Cap is 210 hours 121st month and beyond 160 hours/year Cap is 280 hours 6.) Do have a vacation/PTO donation option (e.g. can donate time to other employee in need): No. 7.) Do have a vacation/PTO purchase program (e.g. employee can purchase additional time off): No. 8.) Do have a vacation/PTO cash out option (e.g. employee can cash out portion of their vacation balance): No. 9.) # Sick Days: none - we do not track sick days. 10.) # Floating Holidays: 2 11.) # Company Holiday: 10.5 12.) Do you offer time off to volunteer (# hours/yr): yes 13.) Do you offer sabbaticals (required tenure, length of sabbatical, paid/unpaid/partial): No. |
|
|
Vacation and Paid Time Off (PTO) Benchmark
posted at 5/9/2006 11:45 AM EDT
|
|
Posts: 198
First: 5/6/2006 Last: 8/29/2011 |
[quote]
On 2006-05-08 18:07, anecesit wrote: Hi - I am working on the same project so this post is timely for me. One question for those who have changed their vacation accrual is how it was rolled out and were there any concerns/challenges by long-term employees? Someone suggested that long-term employees might feel slighted that this rollout did not happen earlier, even though they will still benefit from a better accrual. 1.) Company Name (optional): 2.) Company Industry: Software/Services 3.) # Employees: 750 4.) PTO or Vacation Policy (accrual rates over the years, by level in organization): Vacation 5.) # Hours Vacation/PTO Caps: 1st through 36th month 80 hours/year Cap is 180 hours 37th through 120th month 120 hours/hear Cap is 210 hours 121st month and beyond 160 hours/year Cap is 280 hours 6.) Do have a vacation/PTO donation option (e.g. can donate time to other employee in need): No. 7.) Do have a vacation/PTO purchase program (e.g. employee can purchase additional time off): No. 8.) Do have a vacation/PTO cash out option (e.g. employee can cash out portion of their vacation balance): No. 9.) # Sick Days: none - we do not track sick days. 10.) # Floating Holidays: 2 11.) # Company Holiday: 10.5 12.) Do you offer time off to volunteer (# hours/yr): yes 13.) Do you offer sabbaticals (required tenure, length of sabbatical, paid/unpaid/partial): No. [/quote] Was there challenges and concerns? Like you wouldn't believe! Many people didn't like it and still don't, as opposed to feeling slighted that we didn't have it earlier. When we switched over however, total time was cut by a few days. Using the philosophy that the only people losing days, would be the ones that consistently used up all of their "sick time" every month. One thing we did do however was reward the long term employees with what we called "CAT Time". Because after a certain period of years, they were allowed to carryover unused sick time, we allowed them to keep that, in a separate bucket so to speak. |
Forums » Topic Forums » Benefits & Compensation » Vacation and Paid Time Off (PTO) Benchmark
