By | Ben Eubanks | Human Resources Professional, Speaker, and Blogger
Employee paid leave is often overlooked because it has been around for what seems like forever. It’s fairly standard, and the biggest advancement in recent history has been moving from a split vacation/sick model to a paid time off or “PTO” model, where employees can use the leave flexibly for illness, vacation, or other personal needs as they see fit.
The problem, though, is that people still don’t use that time as they should. They carry heavy leave balances, which creates liability for their employers. They don’t take the time off because they feel like they can’t be away from the office. Whatever the case, it’s not serving the purpose that it should. Research shows that people return from time away from work with better mental health and reduced anxiety (even when they have an overflowing inbox), so how can we solve this?
In today’s discussion, Ben talks with Rob Whalen of PTO Exchange. Rob shares some sobering statistics on PTO usage by employees and how much is forfeited annually, failing to serve the employee population it was designed to help. Rob also explains how PTO Exchange is helping employers to help employees by converting PTO into retirement savings, emergency funds, charitable donations, and more. It’s time to start thinking strategically about paid leave benefits to help employees with a diverse set of needs.