Unlimited Pto: Why Companies Are Offering More Time Off
Why are more companies offering unlimited PTO for their employees, and what are the potential pros and cons? Read this guide to learn about time off trends.
No matter how well you manage your company and how much your employees tell you they love it, there will come a time when they’ll need to take some time off. whether it’s because of sickness, family matters, or just because they need a breather while on vacation, your work family will need some time off, and they deserve to get paid for it.
Many companies have already realized this and have decided to take things a step further by offering unlimited PTO. With the appearance of Covid-19, this has only grown to become more of a norm in the workforce. But is this controversial stance something your business could benefit from? Read on to find out!
What Is Unlimited PTO?
Before you can even see if unlimited PTO is a good fit for your business, you need to first learn what it is. Unlike traditional Paid Time Off, Unlimited PTO gives your employees the ability to take time off whenever they need to for whatever reason comes into their lives. There is no specific allotment of days off and they can take time off as needed, within reason.
With this in mind, these employees recognize that they can’t carry over any time off that was accumulated (since they can take time off whenever they choose). They also don’t receive any payout for the time off they didn’t use after they leave the company. However, the flexibility of choosing when you take your PTO is more than enough to employees that to them, it evens everything out.
Why Companies Are Offering Unlimited PTO
Despite some current companies being upset at this change of pace, unlimited PTO certainly has its fair share of good things. For starters, employees get to enjoy the freedom of flexibility. If something comes up and they need time off, they can simply take it as needed.
On the employer’s side of things, it makes matters easy for the company because they have fewer liabilities to consider. Since employees would no longer have the ability to accrue time off, you wouldn’t have to keep tabs on it. This allows your company to avoid a lot of potentially sticky situations.
Finally, both the employer and employee can breathe a sigh of relief because unlimited PTO removes the need to track the days used. Records would be a thing of the past, and both parties can make room to focus on more important matters.
Is It Right for You?
Of course, different companies have different needs, and you want to make sure something like this would work out for you. Unlimited PTO is best for companies that work in the manufacturing or distribution industries, as businesses in these sectors can cope better with the flexibility.
It also helps to have a bigger business, as the progress of your company won’t slow down as much when one employee takes some time off. That said, there’s a great chance that this new trend would work for you regardless of your company’s size.
Let’s Help You Take Care of Business
JSK Recruiting is a company that’s dedicated to helping businesses like you take care of all of your recruiting needs. Whether you need help with the nuances of unlimited PTO, are looking for new candidates, or just want to grow in the industry, we’ve got the tools you need to succeed.
Make sure to get in touch with us to find out more ways we can help you grow. Let’s build better — together!