Paid time off (PTO) plans have shot up in popularity in recent years and now are nearly the majority type ofprogram at U.S. organizations.
Last year, 47% of employers offered PTO plans that combine vacation, sick and personal days into one bank of leave days—up from 42% in 2009, according to the annual Society for Human Resource(SHRM) survey.
The reasons for the shift: PTO plans can help cut administrative costs, serve as a recruiting tool and they make it easier to track employee leave time.
Turn your organization into an "employer of choice" with Compensation & Benefits.
But the varieties and options in PTO plans continue to build. Use the following data from the recent Paid Time Off Programs and Practices survey by WorldatWork to benchmark your organization’s PTO practices:
Average PTO time ranges from 15 to 29 days, based on the empl...(register to read more)
- How to Fire an Employee the Legal Way: 6 Termination Guidelines
- How to Write Meeting Minutes
- Sticker shock: Fee awards can dwarf money damages
- What happens if we fail to provide COBRA notice upon termination?
- Want the job? Giving your Social Security number is mandatory
- 'Lunch Roulette' app is a co-worker matchmaker