PTO Makeover - Your Employees and Bottom Line Will Thank You
A good time off program is the cornerstone of your benefits package. Unfortunately, it is also a part of the program that often goes neglected. Your benefit program is a large contributor to employee morale and employees are looking to have flexibility in their lives. Not only do employees want time off to refresh and recharge, but they also need time available for routine healthcare, family emergencies, unexpected illness and a myriad of other circumstances that could arise (#lifehappens). Traditional static programs that shoehorn an employee's available time off into categories of fixed amounts often don't work with today's complicated lifestyles. Even an employer with a generous fixed time off policy can find themselves with distracted or unexpectedly absent employees. Should an employee with an abundance of vacation be penalized for caring for a sick child? Should an employee with an abundance of sick time be penalized for calling in sick to use it up? These situations are not efficient for the business and can become increasingly frustrating for employees as well.
Make your PTO program the employee benefit it is truly intended to be rather than the obstruction it may currently be. The idea of a PTO or Paid Time Off program is to give the control to the employees. There are no more allotments of fixed time off in categories such as vacation, illness, and personal... Instead, employees have a single allotment that they can use as they see fit, while still subject to any restrictions needed for the smooth daily operations of your business. One of the main benefits to the employer is a reduction in unscheduled absences and tardiness, which means less of a burden for employer, coworker and employee alike. Administratively speaking there is less of a burden (and cost) to both HR personnel and managers. The employee realizes a newfound freedom, sense of control, satisfaction and even responsibility for managing their time off according to what is important to them. Coworkers are happier too as they are not left scrambling to fill in for other employees unscheduled absences. Happier employees translate into increased morale and engagement, creating a competitive edge in the market for labor.
- Learn how to properly evaluate a PTO program for your business
- Understand the competitive advantages PTO can offer and be able to explain it to executives
- Walk away with specific information on the types of time off that are typically included and excluded
- Set yourself up for success with the proper plan outlined for you
- Review of the 12 major pitfalls and considerations when changing to a PTO plan
- A thorough review of your communication plan - don't get caught off guard
So what could go wrong? To start, transitioning existing time off banks, leaves and benefits into a PTO program can be confusing to say the least. Parts of laws regarding pay and applicable leaves require careful scrutiny. All existing benefits require review to make sure employees are left at the least, in the same if not a better position than before the transition to PTO. Employers in states that treat sick pay differently than vacation pay upon an employee's termination need to run the numbers carefully. Then there is communication. For example, since employers rarely credit as much sick time to PTO as they did to a separate, fixed use "Sick Bank", you can count on the perception from many employees that they are "losing" time. Such fears need to address in a clear and positive manner. There is a lot of planning that needs to be in place from structure right through to communication and implementation. Register for this webinar today and join Teri Morning as she walks you through the process and sets you up for a successful PTO Makeover.