Personal Time Off

Do you still have vacation days, floating holidays, sick days, mental health days, birthday day off, etc etc?  Many of my clients and my own company have switched to PTO days, Personal Time Off.  This way we have just on category to track and compute.  In smaller business and in some larger ones there is no difference how the various time off categories are paid at time of use or at termination.  But there may we many different accrual methods depending on the type of time off.  I still have a few clients who may track as many as seven different time off categories.  By lumping all time off into a category and accruing every payday life is much simpler. 

Add up all the various time off you give employees and re-label it PTO.  They have one set of rules for getting time off, what ever you decide they are.  You have one rule for what gets paid or not at termination.  Not an argument what is vacation and due to be paid and what is sick pay and not eligible to be paid and so on.

It is easy to set up the single accrual and it can be easily increased based on seniority.  No more arguments about employees not getting their “floating holiday” or whatever, this is one way to make payroll administration easier, fairer, simpler and more accurate.