Companies of all shapes, sizes and industries all across the country have been deciding to ditch their traditional vacation and sick time policies in favor of an integrated Paid-Time-Off (PTO) system. Implementing a PTO system can have numerous advantages for employers and their businesses, saving you time, money and energy in managing your staff’s time off benefits. With the current trend moving away from traditional leave systems, now might be a good time to ask yourself: Is PTO right for your business?
Traditional Leave Policies
Traditionally, employees are granted an array of different types of time off, including vacation, sick, and personal days. For example, under the traditional system, an employer might offer employees 10 paid holidays, a week of paid vacation, three personal days, and five sick leave days per year. The type of leave dictates how those days are to be used. PTO, however, permits more flexibility and allows the employee to use those days however he or she wishes. Not only do most employees prefer it, but it reduces administrative burden on the employer. Everyone wins.
So, What Is PTO?
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