More Organizations Going PTO Route for Time Off

August 26, 2011 (PLANSPONSOR.com) – A Business and Legal Reports (BLR) HR Daily Advisor survey shows more organizations are going the paid time off (PTO) route for offering time off to employees. 

 

According to the report, 58% of responding companies have a PTO program. Of the 58%, most include vacation (96%), sick leave (92%), and personal days (86%). Forty-two percent include care for dependents.

For employees with five years of tenure, about 38% offer 11-19 days of PTO, and about 30% offer 20 to 24 days.

Seventy-eight percent of respondents’ PTO programs allow PTO days to be carried over from year to year; however, most cap the number of days that can be accumulated. Thirty percent cap at 30-59 days, while about 28% cap from 20-29 days. 

For holidays, over 90% of respondents are offering New Year’s Day, Memorial Day, Independence Day, Labor Day, and Thanksgiving, and 81% will offer the Monday after Christmas.

The survey garnered 905 responses, from  firms representing a wide range of types of business. There was a good mix of company sizes, and respondents were well distributed across the U.S., BLR said. 

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