PTO combines sick days, personal leave and vacation time in one “bank” at which workers can deposit and withdraw. That makes more sense than old-fashioned sick leave, which can encourage employees to call in sick because it’s an easy way to skip work, especially when unused sick leave vanishes at year’s end.
While PTO plans differ, a typical program allows full-time employees to accrue PTO from their first day on the job. They can withdraw from their PTO bank for any absence, from vacations to family caregiving to short-term illnesses that don’t fall under the Act ( ). A supervisor preapproves all PTO requests.
Some employers let workers exchange any unused PTO time at a set rate, such as 75% of their base pay. Other options include rolling over unused PTO from year to year, up to a limit of, say, 40 hours, or setting up a reserve bank for long-term illnesses.
Like what you've read? ...Republish it and share great business tips!
Attention: Readers, Publishers, Editors, Bloggers, Media, Webmasters and more...
We believe great content should be read and passed around. After all, knowledge IS power. And good business can become great with the right information at their fingertips. If you'd like to share any of the insightful articles on BusinessManagementDaily.com, you may republish or syndicate it without charge.
The only thing we ask is that you keep the article exactly as it was written and formatted. You also need to include an attribution statement and link to the article.
" This information is proudly provided by Business Management Daily.com: http://www.businessmanagementdaily.com/7830/fight-absenteeism-with-paid-time-off "