What Kind of PTO Attracts the Best Types of Employees in Idaho?
There are many different types of time off for full-time employees. Traditionally, time off was calculated in vacation, sick, personal, and other categories regulated by the company. This policy has morphed into a Paid Time Off (PTO) structure. All time is equal and the employee merely uses the hours as they see fit.
How these hours are spent may be optional, but how they are accrued can change from one company to another. Can PTO roll over into the new year? If so, how much? What kind of structure works for each different employee is tough for an employer. Trying to offer a plan that works best for both parties is a bit tricky.
What Kind of Employees Do Different Types of PTO Attract in Idaho?
There are a few companies that offer an open-door policy for time off. Employees can take as much as they like as long as their assigned duties are covered. The policy usually applies to salaried employees and sees them use less time off than traditional PTO. This may work for companies that have off-site, or primarily remote workers. Their schedule is entirely self-contained and companies let the workers set the pace. With this policy, there is no issue of compensating for unused leave.
Companies who offer PTO, but do not allow for any carry-over from year to year can expect an issue with employees all trying to burn extra hours off in the last 2 months of the year. Time off runoff, ‘use it or lose it’, can be tough to navigate and plan for. These employees also tend to come in to work sick more often to save time off for vacation or other needs.
Is Roll-Over PTO a Balanced Option That Works for Both Employees and Employers?
Some employers offer roll-over PTO. Employees can accumulate as much time as they like in their ‘bank’ as long as they are employed. When they retire or resign, they can ‘sell back’ time off, or spend it out on full pay. Aside from retirement, these employees tend to stay forever. If the company notices a lack of retention despite this amazing leave policy, it should begin looking within. A poor work environment or commensurate pay issues may be at play.
Some businesses will allow a portion of the leave to roll over. For example; an employee receives 120 hours of PTO in a year. The company will allow the employee to carry over 40 hours into the next year. Sometimes it must be spent in the 1st quarter, sometimes without restriction. This employer can expect employees to try to map out their days off but stay home when feeling like illness or other issues will get in the way of job performance.
There are advantages and disadvantages to a PTO policy versus a structured vacation/sick/personal time policy. Employers must weigh what kind of employees they want to attract to their company, and employees have to decide if the company structure is compatible with their needs. Either way, more information is better than less when considering employment on both sides.