HELP! Converting to One big PTO bank
Paula_AZ
32 Posts
I have been asked to come up with a plan to convert our current leave allowances into one big PTO bank. Any advice on how to accomplish this in the most fair way is greatly appreciated. Keeping in mind that our company is EXTREMELY employee-friendly with about 100 EEs, here's our current plan:
Sick - 1 Week (37.5 hours - we all work a modified work week) in full after 90 days. Does not accrue or roll-over. Sick bank replenishes every anniversary date.
Personal - 1 Day (8.25 hours) after 90 days. Does not accrue or roll over. Any hours left at each anniversary date are automatically paid out as the next 8.25 hours are dropped in.
Vacation - 1 Week (37.5 hours) in full after 6 months. Accruals begin at 1st anniversary at a rate of 1.44/wk until Year 4, which equals 2 weeks/yr. Then 2.16 hrs/week from 4th Anniversary to 9th Anniversary, which equals 3 weeks/yr. Then 2.88 hrs/week from 9th Anniversary on, which equals 4 weeks/year. Vacation hours can be cashed out at any time for extra $$, and are always cashed out at termination. We do have a "cap" on the bank of 3 weeks (unless you accrue at the 4 week rate - then it's 4 weeks), but it is not strictly enforced because we do not want EEs to actually stop accruing. We monitor and send out notices to those approaching so they can take time off or cash out some to help keep our liabilities in check.
I am all for a combined PTO bank, but my questions arise as I try to figure out what a good plan is while keeping in mind that some EEs have not had their initial drop in of hours yet, some have already used up their sick for the year, etc.
Has anyone done this kind of conversion successfully? Please Help!!
Sick - 1 Week (37.5 hours - we all work a modified work week) in full after 90 days. Does not accrue or roll-over. Sick bank replenishes every anniversary date.
Personal - 1 Day (8.25 hours) after 90 days. Does not accrue or roll over. Any hours left at each anniversary date are automatically paid out as the next 8.25 hours are dropped in.
Vacation - 1 Week (37.5 hours) in full after 6 months. Accruals begin at 1st anniversary at a rate of 1.44/wk until Year 4, which equals 2 weeks/yr. Then 2.16 hrs/week from 4th Anniversary to 9th Anniversary, which equals 3 weeks/yr. Then 2.88 hrs/week from 9th Anniversary on, which equals 4 weeks/year. Vacation hours can be cashed out at any time for extra $$, and are always cashed out at termination. We do have a "cap" on the bank of 3 weeks (unless you accrue at the 4 week rate - then it's 4 weeks), but it is not strictly enforced because we do not want EEs to actually stop accruing. We monitor and send out notices to those approaching so they can take time off or cash out some to help keep our liabilities in check.
I am all for a combined PTO bank, but my questions arise as I try to figure out what a good plan is while keeping in mind that some EEs have not had their initial drop in of hours yet, some have already used up their sick for the year, etc.
Has anyone done this kind of conversion successfully? Please Help!!
